HOW TO ACQUIRE CRYPTO & WHAT IS A DIGITAL WALLET?

God told us that He would TEACH US HOW TO PROFIT! Let’s take a look at it in Isaiah 48:17 NKJV:

Thus says the Lord, your Redeemer,
The Holy One of Israel:
“I am the Lord your God,
Who teaches you to profit,
Who leads you by the way you should go.

God says that HE will personally teach YOU how to profit! I know that when it pertains to crypto, the easy thing for us to do is to say that we don’t want to be bothered with it. I understand, I did the same thing. Not wanting to be bothered with something/anything could just mean that we don’t have much understanding of it, and we believe that it’ll take a lot of our time to make sense of it. And yep, that’s true of some things, including crypto.

The only reason I took the time to get more information about cryptocurrency, NFTs, the Metaverse, digital money, etc. is because it touched my spirit in a way that was familiarly peaceful to me. That peaceful touch was a green light to go ahead, learn, grow, increase, in that area.. and so I did!

If thinking about crypto makes your head hurt😩 or if it seems complicated, just tell yourself that it’s a new way of thinking about money, nothing more… start there. And then add this to your thoughts: The Holy Spirit is willing to take me by the hand, teach me about crypto, and show me what is to come in crypto world.🤷🏾‍♀️

We already know that blockchain technology isn’t something we can hold in our hands. We know it’s a system of recording information that makes it difficult/impossible to hack or cheat the system. So when you purchase Bitcoin (BTC) or any other cryptocurrency (there are over 7,000 cryptocurrencies) no one is going to mail the crypto to your house, there is no physical bank building holding your crypto. Instead, there are virtual wallets where your assets are stored. A cryptocurrency wallet is an app that allows cryptocurrency users to store and/or retrieve their digital assets. As with fiat currency, you don't really need a wallet to spend your cash, but it certainly helps to keep it all in one place; it’s the same with your crypto wallet. I know it sounds wild, you can’t hold the crypto, you can’t hold the wallet, and you bought it virtually, yikes!😫😳

FYI - You also need to know that there are options for physical wallets that can help you to buy, secure, and manage your assets (one such wallet is located at ledger dot com). If you’re interested check it out and please do your due diligence!

Cash App and Venmo are 2 money-transfer service businesses that have made it easy to purchase Bitcoin from because with both companies you can purchase as little as $1.00 worth of Bitcoin (BTC). Bitcoin is the only cryptocurrency that CashApp currently offers for sale, but with Venmo, you can purchase BTC, Ethereum (ETH) Litecoin (LTC), and Bitcoin cash (BCH).

If you buy crypto from either of them, please don’t leave your assets on their platform, even though they’ll tell you that it’s safe there. If something happens with either company there’s really no recourse for you. It’s on their platform and they’re keeping it for you but when it comes to who owns your digital asset, it belongs to them (read the fine print!) Please get your own wallet so you can be responsible for your own assets.

Bitcoin and other cryptocurrencies belong to whoever controls the private keys. If CashApp or Venmo don’t give you private keys to the wallet where your crypto is being stored (they won’t), then technically you don’t control it - you’re just trusting them as a third party to keep your assets. 🚫🚫🚫Don’t do it!🚫🚫🚫

You can have both the asset and the wallet at Coinbase dot com, Crypto dot com, and a lot of other places. PLEASE DO YOUR DUE DILIGENCE. When you have your own wallet, YOU ARE IN CONTROL!

Head over to my Instagram page and watch some short videos I did concerning crypto (scroll through to the month of October). Enjoy the weekend! Peace out✌🏾✊🏾

FIND MY OCTOBER 2021 CRYPTO POSTS HERE

Copyright ©2022 Sherma Jacqueline Felix, BLACK ADVANTAGE Publishing™ . The author shall neither be liable nor responsible for any loss or damage allegedly arising from any information or suggestion in this post.