EN 
ID Every second, the value of global cryptocurrencies fluctuates, creating unprecedented opportunities and challenges. In 2020, the currency value of 1 BTC was equivalent to IDR 139,201,650 and has now jumped to more than 665 million rupiah. No wonder this attracts people's attention to playing crypto.
However, getting into this field is not easy, world crypto it's full of unfamiliar terminology and extreme volatility. So, on this occasion, we will discuss how to play crypto for beginners with clear and simple directions. We will also discuss tips on how to play crypto use strategies that minimize risk.
Daftar Isi.
What Is Crypto?
Cryptocurrencies or crypto is a type of digital or virtual currency that utilizes cryptographic techniques to increase transaction security. Different from conventional currency, cryptocurrencies is on top of a decentralized network, generally using technology blockchain. Blockchain is an information recording system using a series of linked data blocks and secured using cryptography.
One of the advantages of uniqueness cryptocurrencies is decentralized, meaning there is no central authority such as the government or banks that controls the transactions that occur. This marks a significant shift from the traditional centralized financial system.
Cryptocurrencies nor does it only function as a means of exchange for purchasing goods and services online on line or in physical stores, but also as a form of investment asset. Many people buy cryptocurrencies as a speculative investment due to the potential for high returns, although keep in mind that this also comes with high risks.
Crypto Currency vs Conventional Currency
Control and Regulation
Well, let's talk about how conventional money is and cryptocurrencies controlled and regulated. It turns out the difference is quite significant, you know.
Conventional or fiat money is regulated by governments and central banks which allows them to control the money supply and maintain economic stability. The advantage is that they can act quickly to overcome the economic crisis. However, centralized power can become a problem if trust in them declines.
Different from conventional financial systems, cryptocurrencies runs on a platform that does not depend on a central authority (decentralized). Crypto turnover and transactions governed by a global computer network where every unit contributes to the validation and recording of every transaction. Therefore, this decentralized system provides users with more freedom in managing their digital assets, giving them complete control without government interference.
Transaction Process and Security
Conventional money transactions (fiat) involve a bank or payment provider as an intermediary who ensures the safety of your money with various security measures, including encryption for online payments. However, this security relies on trust in the intermediary.
Meanwhile, transactions cryptocurrencies occurs digitally via digital wallets, recorded in blockchain Which open-source and can be accessed by anyone. Transaction crypto It is fast, direct, without intermediaries, and secure with cryptographic algorithms, making it resistant to fraud and hacking, coupled with a high level of security and transparency.
Anonymity and Tracking
The main difference between cryptocurrencies and conventional (fiat) currencies lies in privacy and transaction tracking. In the fiat system, KYC (Know Your Customer) requires disclosure of personal information to prevent illegal activities such as money laundering, but at the same time, makes transactions traceable by authorities.
On the contrary, cryptocurrencies uses cryptographic keys for identification, which increases privacy. Despite the transaction cryptocurrencies pseudonym, blockchain transparent ones allow the public to view transaction history, thereby creating a balance between privacy and transparency.
5 Types of Crypto Currency Based on Their Popularity
Thousands of cryptocurrencies are available, but only a few truly stand out based on their popularity, adoption, and technological innovation. Let's explore the 10 most popular types of cryptocurrency and why they dominate the market:
Bitcoin (BTC): Bitcoin, known as “digital gold,” is a pioneer in the crypto world. Created by Satoshi Nakamoto in 2009, BTC continues to be the market leader with the highest market capitalization and is widely recognized as a store of value.
Ethereum (ETH): Ethereum is not just a currency; the platform also enables the development of decentralized applications (DApps) and smart contracts. The introduction of Ethereum paved the way for widespread innovation in the crypto ecosystem.
Binance Coin (BNB): Binance Coin is a digital asset issued by the world's largest crypto exchange, Binance. BNB is used to pay transaction fees on these platforms and has experienced significant growth in value and functionality.
Cardano (ADA): Cardano stands out with its research-based and multi-layered approach to smart contracts. Developed by a team of scientists and engineers, ADA is considered one of the safest and most sustainable cryptocurrencies.
Solana (SOL): Solana is known for its ultra-fast transaction speeds and low fees, making it an attractive choice for developers and users. The platform has gained traction as a foundation for DeFi and NFT applications.
Despite the market cryptocurrencies Highly volatile and full of risks, these 5 cryptocurrencies show their strength and uniqueness in various aspects. From stores of value to payment solutions and technological innovation, they represent the broad spectrum of what is possible in the world of crypto.
How to Play Crypto or Buy Crypto for Beginners
Choosing a Trusted Crypto Platform
One important step you must take is to choose a reliable and trustworthy platform. This platform will be a place for you to carry out buying, selling and storing crypto asset transactions.
In determining a suitable platform, several aspects must be of primary concern, such as the level of security offered, the amount of transaction fees, ease of use, and the quality of the customer support services provided. In Indonesia, cryptocurrency trading activities are supervised by the Commodity Futures Trading Supervisory Agency (BAPPEBTI), which ensures that each platform operates in accordance with established standards.
Register an account on the platform you choose
After finding a suitable platform, the next step is to register an account. This process usually involves filling in personal data, such as name, email, and sometimes identity verification to comply with regulations. Follow the registration instructions on the platform's website or app. Make sure you use password strong and secure your account with additional security features such as Two-Factor Authentication (2FA).
Deposit Funds According to the Planned Investment Value
Then, you need to deposit funds into your account. This can be done via bank transfer, credit card, or other payment methods provided by the platform. Determine the investment amount according to your plan and financial capabilities. Remember, investing in crypto has risks, so don't use money you're not prepared to lose.
Select the Cryptocurrency to Invest in
Once the funds are available in your account, you can start choosing cryptocurrencies to invest. As a beginner, it is recommended to start with more stable and well-known assets such as Bitcoin or Ethereum. Do some research on the different types cryptocurrencies, understand the risks, and consider diversifying your investments to reduce risks.
Purchase Successful
The final step is to make a purchase. Choose cryptocurrencies what you want to buy, enter the desired amount, and follow the purchasing process on your platform. After a successful transaction, you will own the asset crypto in your account. Monitor the progress of your investments and learn more about the market crypto to optimize your investment strategy.
Tips for Safe Playing Crypto for Beginners
Playing crypto or investing in cryptocurrencies can be an interesting but also challenging experience, especially for beginners. Here are some tips that can help beginners start their journey in the world of crypto:
Use Cold Money
Cold money is often an important key if you are just playing crypto. This cold money is money that you have and that you can let go of without disturbing your personal financial condition.
Why is this important? Because investing with cold money can help reduce the psychological pressure you may experience. We know that the crypto market is famous for its sharp and unpredictable price fluctuations, and by using cold money, you can be calmer in facing market ups and downs without worrying about the impact on your personal finances.
Crypto Currency Diversification
Diversification is a concept where you spread your investments across different types of crypto assets, instead of placing all your capital in just one type of asset. This approach is useful in reducing risk. For example, if one of the crypto assets you own experiences a decline in value, the loss can be compensated for or at least minimized by the positive performance of other crypto assets in your portfolio.
Learn about crypto assets
Before diving into the world of cryptocurrency investment, it is very important to conduct in-depth research and comprehensively understand the crypto asset you want to invest in. This includes studying the technology on which the asset is based, understanding the various contexts of use that exist, and getting to know the communities involved in it.
Additionally, it is important to understand the risks associated with each crypto asset, as each investment has its own characteristics that may not be suitable for everyone. This way, you can make wiser investment decisions that suit your risk profile.
Continue to Monitor Crypto Asset Developments
As we mentioned before, the world of cryptocurrencies is known for its rapid fluctuations and changes, making it important for investors to always monitor their investments closely. To help with this monitoring, use various tools such as portfolio tracking applications that allow you to see the performance of your crypto assets in real timereal-time.
Also consider external factors, such as regulatory policies from governments or global events, as these often have a significant impact on crypto prices.
So, Is Crypto Investment Worth Trying?
Investing in the crypto market offers significant profit opportunities but comes with high risks. For beginners, it is important to choose a trusted platform, invest 'cold money', and implement diversification in investments. In-depth knowledge and constant market monitoring are also essential. With the right strategy, crypto investing can be an attractive option despite unexpected market fluctuations.
Frequently Asked Questions (FAQs)
1 BTC in rupiah, right?
Based on data in December 2023, 1 Bitcoin (BTC) is equivalent to around IDR 643,467,121.62
What is playing crypto?
“Playing crypto” refers to activities involved in the cryptocurrency ecosystem, including investing, mining, or using cryptocurrencies for transactions. Crypto is a secure digital currency with cryptography, and used in a way on line for various purposes including investment and transactions.
What are the risks of crypto?
The main risks of crypto investments include high price volatility, lack of underlying assets, cybercrime risks, and potential impact on payment systems and financial stability. Additionally, illegal activities and consumer protection issues are also a concern
