If there’s one thing that’s been buzzing at the Australian News’ Channels finance and business section, it is the paradigm shift in the digital marketplace that has been taken over by cryptocurrency, run by blockchain technology. Those little tickers looming by showing the fluctuations in the market show what’s gone belly up and what’s coming crashing down.
However, the biggest and most popular of them all, Bitcoin, seems to be a far shot investment at the moment. This is because the exchange figures run at a ballpark estimate of 40,000 to 60,000USD, depending on what the market looks like that day. This, however, does not mean that an inexperienced Australian cannot invest in crypto; the whole point of a decentralised currency is in its accessibility to everyone.
This is why we are moving to buy ethereum, the next best thing in the market. It is seemingly stable yet highly valued enough to be used as a transactional currency everywhere in the world of NFTs and whatnot. Ethereum has comfortably taken its place as a stable form of crypto that isn’t needlessly endorsed by some clown celebrity.
Let’s Get Started
By now, you’ve got your wallet out, looking for a way to exchange a few of those hard-earned Australian dollars into ether and officially foray into the world of crypto investing.
Ethereum started in 2014 as a small-scale currency when the world of crypto was still very much in its infancy and was the subject of speculation by everyone.
It is a safe bet to make for sure, and the best part is that you don’t have to go all-in at first because, unlike other forms of government-regulated currency, you can buy parts of it instead of buying whole quantities of it.
Creating your trading account.
The simplest step of them all is to just provide some essential information to trustworthy websites where you can buy Ethereum or any other cryptocurrency.
Once you sign in to your account, you will be asked to verify your credentials to confirm your identity (this helps in preventing duplication and theft)
Making your account ready to invest
This is accomplished by adding some money to your account, which can be done using any eWallet transaction platform you prefer, BPAY or Osko.
You’re almost ready after this one step.
Time to buy Ethereum as by now, you have officially made it to the buy/sell page. Invest to your heart’s content and watch the money being raked in over a due period.
It is advisable to have industry experts brief you on your investing habits and always be aware of the prudential financial risk that comes along with any form of market investing.
Ether is a relatively docile and safe currency (with low chances of saturation) and is more likely to just gradually grow in value at a decent pace (until you are ready to cash it out). You should still be advised by a professional because studying market behaviour and making accurate predictions aren’t easy tasks. If they were, then anybody could do it and become a millionaire overnight. This is why it is said that patience is necessary and that good things come to those who wait, and in terms of investing, there is not a more apt quote.
Keeping in mind some simple to follow guidelines and staying informed on what’s happening, you can rest assured knowing that just like any other Australian, your brave foray into the world of crypto investing shall serve you well. Be smart, be observant, and be financially prudent!