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 💵 

  1. Go to the Wallet tab.
  2. Click on portfolio overview.
  3. You can buy Fiats either by credit card or by bank transfer.
  4. Go to the deposit angle.
  5. Click on Deposit Fiats.
  6. Select the currency you want to deposit. euros, dollars.
  7. 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.
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