Menu

Navigating through your web3 journey

Crypto and NFTs have fast become a mainstream topic, with more and more people jumping (or wanting to jump) into this vast ecosystem. But there isn’t much reliable information or educational tools about how to set up and navigate the web3 for beginners. At CryptoPro, we simply wish to share our knowledge and experience to support new crypto community members to ensure that your crypto and NFT journey is fun, engaging and trouble-free.

Side note: We started this website in April ’21 when the crypto market was the hot topic, but since then, the market interest for NFTs has grown enormously.  Therefore, in December 2022, we are adding new content relating to NFTs, but in the meant time, you can read through NFT for basic information.

“We are not here to give any investment advice as we are not financial advisors!”

How to start your crypto and/or NFT journey?

First thing first, you should discuss your plans with your financial advisor or accountant.  All our suggestions are based on you having an investment strategy aimed at tapping into this market. And, we also recommend, new beginners start their web3 journey with basic crypto knowledge to understand the fundamentals of how blockchain works and how to engage with smart contracts and/or marketplaces.
 
” Don’t invest in something that you don’t understand. “
There are a plethora of crypto coins and tokens representing various ecosystems and projects.  As a guide, CoinGecko and Coin Market Cap will give you an indication of the scale of this market.  Each coin/token represents a project supported by a website, and a social platform to communicate with their followers. Unfortunately, there are also projects out there that aren’t genuine, and there is no middle entity to monitor or validate the credibility of all listed projects.
 
“Always be cautious in this platform.”
As the first Crypto asset, Bitcoin (BTC) is the most well-known currency, and it serves one purpose; a store of value.  It has its own ecosystem, referred to as ‘blockchain’, which was invented by a mysterious man (or group) called ‘Satoshi Nakamoto’.  Since the launch of Bitcoin, the crypto market has rapidly expanded with the development of various types of other ecosystems (blockchains).  As a first step to building your Crypto knowledge, we highly recommended that you do your research about ‘Bitcoin’ and ‘Blockchain’.
 
All other coins/tokens are referred to as ‘Altcoins’. Currently, the largest altcoin is Ethereum (ETH), which has its own more comprehensive ecosystem where it offers ‘smart contracts’ and accordingly other projects can operate on an Ethereum chain.  It’s also worth taking the time to understand and learn about the ‘Ethereum ecosystem.  
 
As a beginner, we suggest you follow ’99 Bitcoins’ Youtube Channel as they explain the crypto fundamentals in very basic terms.

Investment strategy

Discuss your crypto investment intentions with your accredited professional advisor first! 
 
” You should only invest if your financial circumstances allow it! “
In general terms, there are three types of crypto investors and NFT collectors:
 
  1. #hodlers (long-term holders) – who buy selected well establish currencies, i.e., BTC (Bitcoin), ETH (Ethereum) etc. and keep it as a long-term investment; the Same applies to NFT as ‘collectors’.
  2. Medium-term traders – who keep a portfolio of various coins/tokens and trade frequently;
  3. Short-term traders – serious traders using leveraging processes with a high risk/reward ratio!
It’s not our place to tell you which type of investment suits you, but we recommend you start small.  Start as a #hodler while you learn more about the crypto ecosystem before stepping into trading. 

Establishing the groundwork

It’s essential to have the right tools and to understand the pros and cons of all options available for you.
 
  • Opening a Crypto Exchange Account
    Crypto currencies can be purchased from ‘Central Exchanges’ (CEX).  Most commonly known is Coinbase, or for a more advanced trading experience, Binance (please note, there are other options, do your research).  All exchanges by law require you to follow the KYC (Know Your Customer) process.  This means you will be required to prove your identity to start a verified account.  Then you can transfer fiat currency from your bank to your exchange account, which should only take a few minutes (if funds transferred via PayID).
     
    Once the funds show in your exchange account you can start purchasing your preferred coins – or tokens.  After the purchase, the exchange will allocate a specific wallet for your coin type that only you can access from your account.  However, the custody of these coins will stay with the exchange on your behalf (known as custodial wallets) and hence it’s highly recommended that for #hodling, you should consider transferring your coins to your own wallet (non-custodial wallets) – where you control the full custody.

    For more information you can Google ‘not your keys, not your coins’ and decide which option you want to take; leave it in your exchange wallet or transfer it to your own wallet.  If you are a trader, you may not find a particular coin/token in one exchange and therefore you should be prepared to have multiple exchange accounts.  You can access the list of exchanges via CoinGecko or CoinMarketCap (search for that currency and see the ‘Exchanges’ section).

Frequently asked questions

We are here to assist

We hope you find the above information valuable and please stay in touch as we are regulary updating our content to assist new crypto community members through their crypto journey.

If you would like us to cover any particular topic, drop us a line via Contact us.

At CryptoPro we don’t charge for services, but we do welcome any discretionary contributions to our ETH wallet – ETH or any ERC20 tokens (please do not attempt to send any other currencies to this wallet). 

Ultimately, with your support, we can invest more resources to help you and others.

We also welcome any feedback on how to improve our content structure.