On-ramps to Investing in Cryptocurrencies

Note: As of May 31, 2022, Abra Perx has been paused. Abra Perx rewards mentioned in the article below are no longer active. New ways of using CPRX are planned for the future. We will publish updated details at a later date.

With cryptocurrencies hitting the mainstream, you might know a few people that bought a coin or two, and they’re telling you it’s going to the Moon. But investing in cryptocurrencies is not just picking a coin or token that’s trending.

Cryptocurrency is an emerging technology with a market full of volatility, but it has incredible potential. The volatility is enough to make any investor nervous. However, the opportunity to build long-term wealth with this innovative financial instrument is too great to ignore.

As a new investor, you’ll need to know how to invest in cryptocurrencies. How they work, the applications of crypto, and research which crypto is right for your investing goals.

In this article, we’ll go through the essential steps for you to start.

What Are Cryptocurrencies and How Can They Be Used?

Cryptocurrencies are digital currencies secured and maintained by blockchain technology. This new technology makes them impossible to counterfeit and prevents double-spend and manipulation.

Tokens allow you to perform actions on a blockchain network. You can trade tokens for its products or services, such as creating smart contracts on Ethereum.

Also, crypto wealth management platforms, exchanges, and wallets can help send money to anyone. There are differences between crypto wealth management platforms and crypto banking, so do your research to make sure you use one that will help you generate interest in your stablecoins, easily trade, or borrow with 0% interest.

Additionally, cryptocurrency can help to foster financial inclusion and step in where other traditional methods have struggled to help underserved communities.

How to Understand Which Cryptocurrency is Right for You

If this is your first attempt at investing in crypto, the first thing you want to do is research — just like you’re doing right now. And, don’t feel like you’re alone in trying to get a grasp on the market. A recent study found that 69% of investors still don’t have a strong knowledge of crypto, according to an Abra customer survey. 

Nowadays, we live in a world where we have all the information at our fingertips. You can use that to your advantage. Here are some steps you can look into while researching cryptocurrencies:

  • Crypto Dedicated Websites: You can use websites dedicated to tracking various cryptocurrencies. There you’ll find prices, historical data, market cap, analysis, and much more. Examples of popular sites and apps include Abra, CoinMarketCap, and CoinGecko.
  • Whitepapers: Whitepapers represent the vision the creator has for their cryptocurrency. It can mention their project’s use, the mission, how it works, and much more. Reading a whitepaper is a must when it comes to investing in cryptocurrencies. You can find any whitepaper by searching the coin and whitepaper. (For example, the Bitcoin whitepaper).
  • Dedicated websites: Every cryptocurrency has its dedicated website. You can find the project whitepaper, roadmap, team, and more on those sites. For instance, Abra’s blog and Money Talks show are dedicated to educating the crypto community about the benefits of digital currencies.
  • Social media: Although Twitter or Reddit aren’t financial sources, it’s a good idea to use them and search around their followers and community. Sometimes you can find important information about the projects from the news and the community’s input following the project.

Where to Invest in Cryptocurrencies

Once you’ve researched the digital assets you want to invest in, the next step is to find dedicated spaces where you can buy them safely. 

The most common way to buy crypto is with exchanges or crypto wealth management platforms, like Abra. Try to find an exchange with good rates, prices, and benefits. If you want to learn more, watch the latest episode of Money Talks discussed crypto on-ramps.

When you open an account on an exchange or wallet, you can fund it with fiat currency (U.S. dollar, euro, etc). You can safely and securely fund your account by connecting your bank account or a credit card to the exchange or platform. Afterward, look for the coin or token, choose the amount, and start buying crypto.

You can also use a crypto ATM.  Using an ATM locator website, you find a cryptocurrency ATM near you. It’s simple to use, but it might carry additional fees. 

How to Manage Your Crypto Investment Portfolio

To be a good investor, you need to manage your investment portfolio and assets correctly. Track and manage your assets by their performance and price. 

At Abra, you’ll find a user-friendly app where you can easily buy and trade crypto with a few steps. You can also generate CPRX for taking actions in the app, such as referring a friend. 

You can generate $25 in CPRX for referring a friend to use our app. Users may log in to their Abra app to get a personalized referral link. When a friend uses the link to download and fund their account with $15 and holds the balance for at least one month, both the user and the friend will get a $25 reward paid in CPRX.

Referral rewards are paid out twice a week. Several investors are excited for the future of cryptocurrency, and we have just scratched the surface of crypto’s applications.

It’s time to put what you learn to use. 

Join our community and find more people achieving their financial goals through crypto.

Download the Abra app and conquer crypto today!

Download App

About Abra

Established in 2014, Abra is on a mission to create a simple and honest platform that enables millions of cryptocurrency holders to maximize the potential of their assets. Abra enables both individuals and businesses to safely and securely buy, trade, and borrow against cryptocurrencies – all in one place. Abra’s vision is an open, global financial system that is easily accessible to everyone.

Why Abra

Based in the United States, Abra is available in over 150 countries and makes it easy to convert between crypto and a wide variety of local fiat currencies. With over 2MM customers, $7B in transactions processed, and $1.5B in assets under management, Abra continues to grow rapidly. Abra is widely loved and trusted – in April 2022, reviewed and rated Abra amongst the top 5 most popular crypto wallets in the market. Abra is backed by top-tier investors such as American Express Ventures and First Round Capital.

How Abra Protects Your Funds

Abra places clients’ financial objectives and security first. Abra practices a culture of risk management across all levels and functions within the organization.

Abra employs a state-of-the-art enterprise risk management framework that comprises a comprehensive set of policies, procedures, and practices detailing all applicable risk-related objectives and constraints for the entirety of the business. Abra has instituted a complete set of requisite systems and controls that continuously enforce these policies, procedures, and practices to manage all operations, including credit and lending. Abra’s independent Risk Committee comprises experienced compliance, risk, securities, and fraud operations professionals with backgrounds in industries ranging from traditional and digital assets banking, payments, remittance, to fintech.

Please visit our FAQ to learn more.