Choose your wallet wisely
The problem with crypto trading is not with the currency. If you want to start in the mining world – pick BTC. The altcoins are for true professionals while the bitcoin is common, has a lot of guides. So, you need a place where to save your actives.
The crypto wallets today enter the markets, gather the audience… and flop. Usually most of them aren’t even frauds or phishing, they just don’t give the traders all the functions they need. How do you manage this trouble? Well. Try to start with a trusty solution, like CoinBox.
The first steps to start
So, you’ll choose the CoinBox. This isn’t propaganda, we just simplify your way. What do you need?
1. The first step is to download CoinBox app, that is available on Apple store and Google play, there’s the web version of it as well. If the application is downloaded, you need to register and log in.
2. You can trade just right after the registration, there is no long validation;
3. Choose your asked level of security in the “settings” tab. You can tweak your localization and other interface parameters.
4. Buy, sell and exchange your BTC in the proper tabs. These operations are instant, they proceed in several clicks, no more;
4. The current rates of crypto coins also are here. You can build your own trading predictions and trends based on the news and your inner comprehension of the world economy.
As you see, the first steps in BTC with the CoinBox are easy. This wallet provides the main blockchain virtue: simplicity and safety. For the inner understanding of crypto technology, every trader needs a lot of education. But you can earn money right now, without any preparation.
In CoinBox you can also earn a passive income just by holding cryptocurrencies in your wallet, the so-called staking. To get a better grasp of what staking is, you first need to understand how Proof of Stake works. Unlike Proof of Work (PoW), PoS blockchains can develop and validate new blocks without the use of special hardware (ASIC). On these blockchains, anyone with the minimum required balance of a particular cryptocurrency can confirm transactions and receive staking rewards. Simply put, staking is the act of locking cryptocurrencies in order to receive rewards.
In the Coinbox, staking is available for the ALGO cryptocurrency, based on the open Proof-of-Stake blockchain platform Algorand. It is a scalable platform with high transaction processing speed, while maintaining decentralization that most other public blockchains cannot provide.
Annual Percentage Yield (APY) – The interest rate which reflects the total amount of staking rewards that are predicted to be earned during the annual period is 5.46% for ALGO.
But how about the risks? Well, just make small investments, the crypto market is highly volatile. The CoinBox wallet makes transactions safe, so you don’t need to worry.