How to Get Into Cryptocurrency Investing for 2024

The cryptocurrency market has been around for over a decade, but it has already proven to bring excellent opportunities and huge returns for investors. Still, many people find it difficult to start and make their first crypto investment. If you are still thinking about how to get into the market and build a successful career, you are in the right place. 

In this guide, we will introduce the 8 best ways to get into the cryptocurrency market in 2024. The methods shared in our guide will help you understand how you can start trading, build a reasonable crypto portfolio, make a profit investing in crypto presales, etc. We will also discuss one of the leading cryptocurrency exchanges that provide a number of tools for beginners and several other opportunities. 

Reviewing Each of the Best Ways to Get into Cryptocurrency

However profitable the cryptocurrency market may seem, it is twice as much risky. Along with several popular and well-established assets, there are thousands of speculative coins created for the hype. Not only is it crucial to understand what you are buying and selling but also when and how you are buying and selling it. To help you start your crypto trading career successfully, below we have discussed in detail some of the best tips to get into the crypto market. 

Find High Rewarding Crypto Presale Projects

Beginner level crypto investors may find it difficult to enter the cryptocurrency market because most of the well-known cryptocurrencies are trading at high prices. Bitcoin is traded above $22,000, and ETH is worth more than $1,500 at the time of writing. So the top coins are quite expensive, and they can’t buy them in high amounts. 

But the crypto market is not all about the high-cap cryptocurrencies, and you can even get started with the crypto projects that have not been launched officially. These crypto projects hold presales of their native tokens at a low price before they get listed on crypto exchanges. In this way, they raise capital for project development, marketing, and other purposes. 

It is an excellent opportunity for the investors too, as long as they get the chance to invest in them during the early stages of their development, paying below $1. This can be hundreds of times lower compared to their listing price. Plus, the project can get popular and attract huge attention, which can lead to increasing the demand for the token. 

However attractive crypto presales may sound, you need to be careful when selecting a presale project to buy. The important thing is to explore whether it has a real-world solution or an interesting feature to offer which can be worth investing in – otherwise known as ‘utility‘. If you are unsure what presales can be promising, below, you will find some of the most popular crypto presales to buy in 2024. 

CatSlap – Trending Crypto Project Gamifying The Meme Coin Experience

CatSlap is your go-to destination for a rewarding token that doesn’t make crypto investing as boring as it seems. With a perfect 99/99 score and top rank on DexTools, CatSlap brings a browser-based click-to-slap game for meme coin enthusiasts. And yet, the project manages to stay true to the classic meme coin premise.

Players assume the avatar of the slapping cat meme and virtually “slap” Pepe the Frog. Each click is tracked towards a country-by-country scorecard, giving the game an international and fun edge. CatSlap also has play-to-earn (P2E) in the pipeline, which will further incentivize its user base.

Among other USPs of the platform is its strong user base, reinforced by the SolidProof smart contract audit that uncovered no significant issues. CatSlap has a total of 9 billion tokens in supply, and half of these have been locked away for Uniswap liquidity for 60 days. The other half stands reserved for staking and community rewards, development, and team allocation.

Investors are already on board when you combine this with the robust, zero-tax tokenomics framework. The integrated staking mechanism is another plus, which allows users to lock up their $SLAP tokens for potential future gains. Within just a few days of its launch, $SLAP token price has surged by over 3000%, creating a huge stir on social media.

Some investors are eyeing a quick race to $100 million market valuation, while others are mindful of pro-crypto Donald Trump’s election victory as a fuel to the fire. Given the current cryptocurrency momentum and early price indications around the token, it would be a good time to pay closer attention to this novel project.

Wall Street Pepe – Suitable Way to Get into Pepe-Themed Tokens

Getting into cryptocurrency investing can be daunting for many due to current roadblocks like high costs and a lack of knowledge about the market. Wall Street Pepe addresses these challenges with its unique take on the meme coin niche, offering an accessible entry point for new investors while fostering an ecosystem designed to educate and empower.

Inspired by the legendary Pepe meme, Wall Street Pepe retains the same degen image that excites meme coin enthusiasts. Its mascot embodies the common investor dreaming of escaping the nine-to-five grind and achieving financial freedom. This relatable imagery resonates with newcomers seeking to make it big in the crypto world.

At just $0.0002 per token, Wall Street Pepe offers an affordable entry point, making it one of the most accessible options for those looking to get into cryptocurrency investing. Beyond its cost, the token provides practical use cases, such as trading insights, staking rewards, and trading competitions. Access to the exclusive WEPE Army community further enhances its value for beginners, providing a supportive environment where they can learn and grow while exploring the crypto space.

As a presale asset, Wall Street Pepe minimizes exposure to the volatility of the broader crypto market, allowing users to invest with more confidence. Early movers benefit from lower entry prices and the potential for significant gains during a listing pump. Moreover, the token’s utility-driven design ensures long-term value, making it not just a meme coin but a sustainable investment option for those starting their crypto journey.

Wall Street Pepe’s unique combination of affordability, utility, and community focus makes it a compelling choice for those looking to get into cryptocurrency investing, bridging the gap between beginners and the complex world of crypto.

Best Wallet Token – Get into Crypto Via a Simple Wallet

Now that the market is bullish and the sociopolitical ecosystem shows that it may continue to do so, it is a good time to get into crypto. However, those who want their first foray into the crypto space profitable should consider doing so in an accessible manner.

Accessibility is promised by Best Wallet. This cryptocurrency wallet sheds away the complex wallet-like traits that continue to plague the traditional crypto storage scene to provide a product that makes it easy for people to buy, sell and store crypto.

With its native token, Best Wallet Token, this crypto wallet has paved the way for other innovative additions. Users will be able to lower their transaction fees through these tokens and can gain access to ICOs before they are made public.

The token will also give users a chance to find high APY staking opportunities, and can help them reach out to crypto communities to learn more about what’s going on inside the crypto space.

The token has also gained a lot of attention due to its presale distribution strategy. For the first two weeks, the tokens are distributed via a private sale, open to only Best Wallet users. However, within those two weeks, everyone who even downloads the wallet can enjoy the private sale.

This strategy has also been used to make people aware of Best Wallet’s upcoming tokens feature that will let users participate in ICOs when they are at their very first – 0 – stage.

Since the wallet encompasses so much about the cryptocurrency ecosystem, it is a suitable cryptocurrency to invest in this year.

Open a Crypto Trading Account with a Reputable Cryptocurrency Exchange

Apart from investing in the crypto presales, you can diversify your portfolio with newly listed coins or the old ones which you believe can be profitable. But before that, you will need to create an account with a crypto broker through which you can buy and sell the coins. Finding a suitable crypto broker may be a hard choice for you as there are hundreds of options in the market. How can you understand which broker to choose? Here are some factors to consider.

• Security systems and reliability,
• Trading fees,
• Withdrawal and deposit fees/other account fees,
• Payment methods,
• Number of tokens supported,
• Customer support service.

The first thing to pay attention to is whether your broker is trustworthy and can guarantee your safety. To meet this requirement, the broker must be regulated and possess strong security mechanisms to protect your account. 

Crypto exchanges charge trading fees for their services which can be of different types – buy/sell bids, transaction fees, etc. When choosing a broker, explore its pricing structure and select the one with rather competitive fees. Also, pay attention if there are no hidden fees that may be included in the price of the cryptocurrency. 

Other than the trading fees, brokers charge account-related fees, including withdrawal/deposit fees, management fees, inactivity fees, subscription fees, etc. Make sure that the fees charged by your broker are reasonable and that you can afford them. Another thing to pay attention to is how you will deposit or withdraw money from your account. Check the payment systems supported by your broker to understand if any of these methods are available for you. 

Finally, you need to pay attention to the opportunities that you will get as a trader from your broker. One of the main things is to check the number of cryptocurrencies supported by your broker. You must ensure that the popular and leading cryptos are listed or that the broker keeps adding new ones to its list. This is also crucial in terms of portfolio diversification. 

Once you select the broker you want to trade with, go on to its website to create an account. This process usually takes a couple of minutes with the leading crypto exchanges. The next step is to verify your account by providing proof of your identity and address. When you have a verified account, you can finally deposit funds on it or link your bank card to start trading. 

Learn the Basics of the Cryptocurrency Market

It has been more than a decade since cryptocurrencies have been around. This and the fact that any central authority does not regulate them makes them the most volatile assets and the riskiest investment. Due to their volatility, they can bring you high rewards, but the risks are higher too. Hence, it is important to have at least a basic understanding of the crypto market before getting started. 

If you are completely new to crypto trading, start learning the fundamental terms related to the field. These can be low-cap, high-cap, and mid-cap cryptocurrency concepts, staking, NFTs, digital wallets and their types, different types of coins such as memecoins, speculative assets, coins with P2E elements, cryptocurrency exchanges, etc. 

It is also essential to get a basic understanding of the trading market and learn about bear and bull markets, simple charts, crypto signals, etc. The next thing to pay attention to is crypto regulations. Though cryptocurrencies rely on a decentralized blockchain, some governments take action to regulate the limits of trading digital assets, etc. Many countries also charge taxes on crypto earnings, so make sure you learn about them beforehand.

See our list of the best crypto courses on the market to learn to trade.

Open a Digital Wallet and Learn How to Store Your Digital Assets

When you invest in cryptocurrencies, it is also crucial to know where you will keep them. Your exchange wallet is an option, however, when it comes to safety, digital wallets are the best to choose from. Besides, when you purchase crypto in its presale stage, you can’t transfer it to your exchange account as long as it is not yet listed on the exchange. Instead, you need to have a digital wallet, link it to the cryptocurrency’s website and get the coins on your digital wallet. 

Cryptocurrency wallets can come in two kinds – software and hardware. In both cases, you will get two types of keys for your wallet – public and private keys. The public keys can be shared with everyone, and it is usually the address of your wallet. You must provide your public key to send or receive cryptocurrencies. Private keys are created automatically. 

Private key acts like the password to your digital wallet. Unlike the public key, you need to keep your private key confidential and not share it with anyone. It is actually the way to access your digital wallet, so be careful not to lose them. Apart from your private key, you also create a 12-digit code which is also called seed which will help you to recover your private key in case you forget it. 

As mentioned already, crypto wallets fall into two large groups – hardware or physical ones and software wallets, which are also known as hot-storage wallets. The latter are apps that can be downloaded or installed on your device. They are more practical if you will trade often and make transactions every week or every day. 

If you don’t trade quite often and prefer long-term investments, hardware wallets could be a better option. A hardware wallet is a physical device that stands out with excellent security. They can be connected to your device to make the transaction though they are not as convenient for frequent buying and selling. However, if you have made a huge investment and intend to keep it for a long time, a hardware wallet is the best choice. 

Develop a Trading Strategy

It is also recommended to have a plan about how you will trade and develop a trading strategy based on your time, money, and some other factors. Generally, trading strategies can be of two kinds – short-term and long-term trading.

• Long-term trading or investment happens when you buy an asset and hold it for a relatively long period. The investment span can differ starting from a couple of weeks to months and years. This type of investment is also known as HODLing in the crypto industry. When you make a long-term investment, you believe that the value of the cryptocurrency will increase over time and don’t sell it no matter what happens with the market.
• Short-term trading is when you buy and sell cryptocurrencies in a short time. As cryptocurrencies are quite volatile, most traders use this method to make money. There are different types of short-term strategies. Day trading is among the most popular ones, during which traders buy and sell assets within the same trading day. Traders also can buy and sell assets within minutes, hours, etc. 

For example, you can buy a huge amount of Bitcoin and wait for a year or so till its price increases significantly. Then you sell it to gain your profit, and in this case, you make a long-term investment. However, if you find a crypto asset is extremely volatile, and you buy it intending to sell after a few days to make a profit, you make a short-term investment. 

You can face some challenges when developing a trading strategy as a beginner. To get started, first, you will need to have a basic understanding of how the market works. There are many crypto tools and indicators that seasoned traders use to understand how the market will move. So, they create a trading strategy based on those indicators, which makes short-term trading quite risky. 

Build a Diversified Cryptocurrency Portfolio

When it comes to cryptocurrency trading, risk management is among the first things you need to take into account. And one of the ways to handle risks when investing in crypto is to build a diversified crypto portfolio. To put it simply, you don’t put all your money in a single crypto project but allocate them between multiple assets. 

In this way, you manage the risks of losing all your money when the only cryptocurrency you invested in crashes. But when you invest in multiple assets, you will not lose all your money, even if one or two assets lose their value. Diversification is even more important in the cryptocurrency market, as these assets are highly volatile compared to stocks, forex, etc. 

When diversifying your crypto portfolio, it is usually recommended to consider investing not only in well-established cryptos but also in newly emerging ones. See our latest rundown of the best new crypto projects.

Obviously, you will need to do some research to build a wisely diversified portfolio and more clearly understand which tokens to choose. Some brokers and exchanges offer features such as copy trading and portfolio building to help users build their portfolio based on their risk tolerance.

Make a Passive Income By Staking Crypto Coins

If you plan to make a long-term investment in a cryptocurrency project, staking is one of the best methods to gain passive income. It is the process of locking up a certain amount of your cryptos through a platform and earning rewards for that. Not all the cryptocurrencies can be staked, though: only those built on the Ethereum blockchain and use the ERC-20 token standard. 

In other words, the projects that use the Proof-of-Stake consensus mechanism to operate their blockchain. Let’s say you have invested in the most popular stackable asset and intend to store them for a long period. Instead of keeping your tokens in a digital wallet, for example, you can stake them to contribute to the network and get rewards for that. And clearly, it’s a smart decision to choose the best platforms and coins to stake.

When staking a cryptocurrency, first, you need to get familiar with the terms of staking that asset. You need to consider the minimum number of tokens you must own to be able to stake them and how much time your assets will be locked up. Also, it is important to understand the yield that the platform offers for staking your asset. 

Invest in Crypto Stocks and ETFs

Our last tip about getting into the cryptocurrency market is to invest in crypto stocks and ETFs. In this case, you don’t directly buy a certain cryptocurrency but buy the crypto ETF which is a basket of assets combined to help you easily diversify your portfolio. Crypto ETFs are becoming increasingly popular in the market as they aim to gain diversified exposure to the crypto market. 

Traders also use this method to maximize their profits while saving time. In this case, they don’t spend time picking the coins individually but invest in an already chosen collection of assets. However, it should be mentioned that crypto ETFs are quite risky, and you always need to do your own research before getting started with them. 

How to Get Into Cryptocurrency Mining

Cryptocurrency mining is a popular concept in the industry which is the process of validating the transaction on the blockchain. The latter results in resting a new block, and those who do it get rewarded with new coins. This consensus mechanism is called Proof-of-Work, and Bitcoin is the most popular crypto to use it. 

When Bitcoin was first introduced, its mining process was quite simple and could be done with a PC at home. However, along with its development and price growth, more and more people get involved in it, which has made the process harder. Plus, the number of Bitcoins that can be mined is halved every four years, which is another factor influencing its mining process. 

Today, a powerful computer that you use at home is not enough to mine Bitcoin, and you must have powerful and expensive hardware to do that. Additionally, you need to spend a lot of money on electricity bills as Bitcoin mining consumes huge amounts of electricity. Hence, getting into cryptocurrency mining can cost you a lot of time and money. Plus, you will understand if the results are worth it. 

There is another quite popular consensus mechanism used by Ethereum and other projects based on it. It is called Proof-of-Stake and provides regular rewards through staking. You are supposed to lock up a certain number of tokens into the network to contribute to the blockchain’s operations. You will get rewards in the form of new tokens for the service you provide. 

While staking may seem quite simple in the beginning, it can be a bit tricky for the beginner. So, we recommend you start making money with cryptocurrencies with easier methods, such as investing in crypto presales. It is the best way to start without spending too much time and money on it. 

Conclusion

Figuring how to get into cryptocurrency can seem tricky at first, but it is actually simpler than one can imagine. If you have difficulties with it, there are several ways to get started crypto trading. Throughout the guide, we have discussed multiple ways of getting into both new and old cryptocurrency projects and introduced the top 8 tips to get started. 

We consider that investing in crypto presales is among the best strategies because you start investing with little money. As long as the projects are about to launch, they conduct a presale and sell the token at its lowest price. The token gets listed on the exchange with a higher price, but it can further grow based on the popularity and adoption of the project.

So, investing in the early stages of the development of a project can bring you good returns in the future. According to our research, PlayDog is the best way to enter the crypto space right now. The token is currently available on a presale, giving investors the opportunity to move in early.

Readers ready to take the next step may also be interested in our related guide on how to money with cryptocurrency.

FAQs on Getting into Crypto