A beginner’s guide to getting started with cryptocurrency
If you are looking to make a start in cryptocurrency, then you have arrived at the right place. The following pages will give beginners (‘Newbies’) a simple and concise overview and guide on how to get started in cryptocurrency. Welcome to the cryptosphere!
First things first, what does “on-ramp” mean?
‘On-Ramp’ is the term used to describe the deposit of fiat currency (the money we use every day, in local currency) into the ecosystem and enables the conversion of those funds into cryptocurrency. Platforms referred to as ‘on-ramps’ allow you to acquire cryptocurrency and enable your participation in the crypto-economic system. We thought ‘Crypto On-Ramp’ was a suitable name for this website!
What is a cryptocurrency on-ramp?
Once you have decided to buy some cryptocurrency, step one is to transfer your funds to a platform that will enable you to buy crypto. Transferring your everyday money - such as US dollars, Euros or Pounds - into and out of the crypto-economic system requires the use of cryptocurrency on-ramps and off-ramps. These are the cryptocurrency exchanges that allow the depositing of funds, the transfer into and out of cryptocurrency, and the subsequent withdrawal of those funds.
What is a fiat on-ramp?
Cryptocurrency on-ramp and fiat on-ramp are the same. Fiat on-ramp is the term used to describe a platform that specifically allows you to deposit fiat currency and buy crypto. Not all exchanges allow you to deposit fiat currency; these exchanges require you to fund your account directly with crypto such as Bitcoin, which you can then trade into other altcoins and tokens. To get started in crypto investing, you will need to have an account with a fiat on-ramp.
What does fiat to crypto mean?
Fiat to crypto describes the transfer of fiat currency, i.e. your everyday money - such as US dollars, Euros or Pounds - into and out of cryptocurrency.
What is a cryptocurrency off-ramp?
A cryptocurrency off-ramp refers to a cryptocurrency platform or exchange that enables you to transfer your crypto assets back into fiat currency and to withdraw the funds, transferring back into your bank account. A cryptocurrency off-ramp may also offer the possibility of purchasing products, goods or services online. Unlike an on-ramp, which simply facilitates the transfer of money into and out of crypto, an off-ramp can refer to a business that accepts cryptocurrency for products, goods and services in the economy.
A guide to Wallets
- Do I need a crypto wallet?
- What is a cryptocurrency wallet?
- What is public key cryptography?
- What is a private key?
- What is a public key?
- How does a crypto wallet work?
- How safe is public key cryptography?
- What are the different types of cryptocurrency wallets?
- What is a software wallet?
- What is a hardware wallet?
- What is a paper wallet?
- How safe are crypto wallets?
- What is a multi-cryptocurrency wallet?
- How do I protect my crypto wallet?
A guide to Exchanges
- Do I need a crypto exchange?
- What is a cryptocurrency exchange?
- What is a market maker in crypto?
- What is the bid-ask spread?
- How does a crypto exchange work?
- What are trading (currency) pairs?
- Why do crypto exchanges have different prices?
- What fees do cryptocurrency exchanges charge?
- Are crypto exchanges regulated?
- Are crypto exchanges safe?
- What is cold storage?