What is cryptocurrency?
🤔 What is cryptocurrency ?
☞ A cryptocurrency (or "crypto") is a digital asset that can circulate without the need for a central monetary authority such as a government or bank.
☞ Instead, cryptocurrencies are created using cryptographic techniques that allow people to buy, sell, or trade them securely.
🤔 How does cryptocurrency work ?
☞ Bitcoin and most other cryptocurrencies are powered by a technology known as blockchain, which keeps an unforgeable record of transactions and keeps track of who owns what.
☞ Creating blockchains prevents people from making copies of their assets and trying to spend them twice.
☞ Some cryptos are intended to be cryptos for exchanging goods and services (eg: Ethereum), others are stores of value (eg: Bitcoin) and some can be used to participate in games (eg: AXS coin).
🤔 Step to buy cryptocurrency ?
1️⃣ Choose a cryptocurrency exchange platform .
Binance works great for Tahiti 🏝, there are other crypto exchange platforms but, most of them do not accept Tahiti 🏝 as a place of residence.
🏆 Binance is the #1 cryptocurrency platform! A platform that I use every day because it contains most cryptocurrencies, but also staking, bank cards, etc.
2️⃣ Create your account .
BINANCE :
Your account will need to be verified by the Binance team, this means that when you create your account you will need to provide your passport 🛂 and an invoice with your address (make sure to fill in the address section with the same address as on your invoice. The invoice must also be in your name).
⚠️ Important: Write down your password and put it in a safe place. Not on your phone.
📲 On your smartphone, you can install the Binance app.
🔥 Tips : 🇫🇷 Change the language to French for this go to the right corner and click on English. Then choose French.
🔐 Secure your account : Go to the profile logo and click on Security.
☞ Activate 2FA (2-factor authentication): This allows you to identify yourself with your password and also with other means of security (code sent by SMS, by email, Google authentication).
Google Authenticator : This is an application to download on your smartphone. You will need to configure it to link it to your Binance account.
✨ Personally. I use in addition to my password, the code by SMS and Google authentication.
3️⃣ Buy Fiats* .
*This is the Classic currency euros 💶 , dollars 💵
- Go to the Wallet tab.
- Click on portfolio overview.
- You can buy Fiats either by credit card or by bank transfer.
- Go to the deposit angle.
- Click on Deposit Fiats.
- Select the currency you want to deposit. euros, dollars.
- Choose your payment method:
☞ To make a bank transfer (0 fees, 2-3 days to arrive on Binance)
- Enter the amount you want to transfer. From your regular bank to your Binance account.
- Click continue.
- A window opens with the following text:
IMPORTANT NOTE: This is just to remind you that the funds must come from your personal account (in your name) and not from a business account.
- Click Confirm.
- Then, on your classic bank, you enter the references that Binance gave you. (⚠️ Important do not forget to put the Reference code)
☞ To make a transfer by bank card 💳: (1.8% fee, immediate transfer)
- You must enter the amount you wish to transfer.
- You must also enter your credit card information.
- Click Continue.
4️⃣ Buy cryptocurrency .
☞ To buy Bitcoin, Ethereum….
- Just go to Anglet Trader.
- Click Convert
- If you have Euros in your Binance account, you can convert Euros to the crypto of your choice.
- Enter the amount you wish to convert.
- You usually have 5 seconds to confirm your transaction.