For buyers who have never gotten their feet wet in cryptocurrency, 2022 might be the year they finally give crypto and decentralized finance, or DeFi, a try. However, before they jump in, they must understand the steps involved in crypto buying, according to Dan Schatt and Domenic Carosa, the fintech veterans of crypto platform Earnity. Here are a few steps for getting started with cryptocurrency.
The first step in buying in cryptocurrency is to get a wallet that will securely store and send crypto assets. Once buyers have secured these wallets, known as digital wallets, they must set them up by generating their wallets’ public and private keys. Buyers can share their public keys with other people to receive financial payments from them. Meanwhile, they should use their private keys to authenticate themselves for transactions and access their wallets.
The second step in buying in crypto is to buy DeFi tokens. Examples of popular tokens include Balancer, year.finance, UniSwap, Compounf, AAVE, and Sushi.
The final step in getting started with DeFi is to join a platform. Crypto platforms can be used for lending, providing liquidity, and staking—a method of generating passive income through cryptocurrency. However, the Earnity platform takes things a step further by sharing the most recent developments related to DeFi, non-fungible tokens, and even the metaverse through up-to-date commentary and news.
This marketplace can also prove helpful for crypto content creators and influencers. They can share quality information to draw more followers and further engage their audiences through the platform. The marketplace’s influencer-friendly tools are unlike any tools that exist today, according to Dan Schatt and Domenic Carosa.
All in all, the platform is an excellent place for crypto buyers to make greater sense of and capitalize on these digital assets, which will arguably be finance’s future, according to Schatt and Carosa.