I'm in the same boat. My social Security barely gets us by and I sure could use a "Ship comes in" scenario. Another question I'd have is, can someone invest just a few hundred. I don't even understand the lingo. Hope some answers show up.
The easiest way is to open an account on one of the exchanges. Coinbase.com is really user-friendly, Exchange.Gemini.com has a few more listed tokens, and Crypto.com runs through an app which is a little different.
In any case, it's like opening a brokerage account for stocks/options. You can attach a card/checking acct/paypal/etc. to buy tokens and deposit funds back if you punch out. We're also seeing more companies accepting crypto for payments directly. There's no min/max, although some have a weekly limit and Coinbase lets you specify a recurring buy if you want to dollar cost average over time.
All tokens represent a digital store of value with a supply that is mathematically limited and allow for the movement of funds with different levels of efficiency. Holding the tokens is similar to having stock in the system. Some offer interest/dividends as the network processes transactions.
All that said, #NotFinancialAdvice. Many of the smaller tokens ride a wave of good press as they are issued but then crash if their not built with a useful function in mind. It's extremely volatile but you're also not subject to the printing of a fiat currency.
Assume you know nothing about crypto stuff... how would you put money into this?
I'm in the same boat. My social Security barely gets us by and I sure could use a "Ship comes in" scenario. Another question I'd have is, can someone invest just a few hundred. I don't even understand the lingo. Hope some answers show up.
The easiest way is to open an account on one of the exchanges. Coinbase.com is really user-friendly, Exchange.Gemini.com has a few more listed tokens, and Crypto.com runs through an app which is a little different.
In any case, it's like opening a brokerage account for stocks/options. You can attach a card/checking acct/paypal/etc. to buy tokens and deposit funds back if you punch out. We're also seeing more companies accepting crypto for payments directly. There's no min/max, although some have a weekly limit and Coinbase lets you specify a recurring buy if you want to dollar cost average over time.
All tokens represent a digital store of value with a supply that is mathematically limited and allow for the movement of funds with different levels of efficiency. Holding the tokens is similar to having stock in the system. Some offer interest/dividends as the network processes transactions.
All that said, #NotFinancialAdvice. Many of the smaller tokens ride a wave of good press as they are issued but then crash if their not built with a useful function in mind. It's extremely volatile but you're also not subject to the printing of a fiat currency.