Beginner’s Guide to Cryptocurrency: Bitcoin, Ethereum, Shiba Inu, Halal Investing and More

Initially, cryptocurrency was seen as an up-and-coming technology by tech enthusiasts, but it has now transformed into a worldwide means of investment. Trying to find the difference between Bitcoin, Ethereum, Shiba Inu, and whether Cryptocurrency is Halal or not? No need to look any further, you have found the answer you seek.

What Exactly is Cryptocurrency?

A more appropriate definition of Cryptocurrency would be the digital assets that enable users to facilitate payments through the usage of blockchain technology and operate independently of any centralized authority, such as a government or financial institution. Transactions are validated by a network of computers or nodes, rather than a bank.

Like with any new fad, Bitcoin and Ethereum unfortunately launched alongside countless imitators such as Solana, Shiba Inu, and Aurora. But not to worry – there are currently more than enough options for everyone.

What is Ethereum?

Ethereum is a blockchain-based platform that allows developers to create decentralized applications (dApps) and self-executing agreements known as smart contracts that are stored on the blockchain. It has its own coin called Ether.

If we were to compare Ethereum to Bitcoin, Ethereum is more versatile in the sense that with Ethereum you are able to do more activities. Ethereum is sometimes referred to as a world computer, decentrally hosting applications referred to as dApps.

What is the Difference Between Bitcoin and Ethereum?

While Bitcoin serves as an attempt to transform money into a digital form, Ethereum is better known for its groundbreaking blockchain technology and power-intensive decentralized applications.

Neither coin surpasses the other in value – they are simply each placed into a different bracket in the crypto market.

What is Solana Crypto?

In the world of cryptocurrencies, Solana (SOL) is recognized for having one of the fastest high-level blockchains with low operational costs. It is used in DeFi applications, NFTs, and gaming projects.

Its strongest trump card? The speed at which transactions are processed and scalability – the network is capable of processing thousands of operations each second.

How to Buy Crypto With Cash

There are several ways to purchase crypto with fiat money:

• Bitcoin ATMs enable users to deposit cash and receive Bitcoin.
• P2P platforms such as Paxful and LocalBitcoins allow users to buy crypto directly from others.
• Some services allow cash deposits at retail locations for crypto purchases.

Always check the reliability of the services used and ensure a wallet is ready in advance to receive the coins.

How to Buy Ethereum

ETH can be purchased via documented crypto exchanges like:

• Coinbase
• Binance
• Kraken

They may also be bought through wallets that support purchases, like MetaMask or Trust Wallet. Apps like eToro or Robinhood provide similar features.

It’s as simple as registering, verifying your identity, funding your account, and placing an order.

How to Buy Shiba Inu Coin

SHIB is a meme coin modeled after Dogecoin. To buy SHIB:

• Use exchanges such as Binance, KuCoin, or Coinbase.
• If SHIB is not directly available, purchase ETH or USDT and exchange it for SHIB on decentralized exchanges like Uniswap.

You can either hold it on the exchange or transfer it to a personal wallet.

How to Invest in Crypto

1. Research – Know what you’re investing in: Bitcoin, Ethereum, or altcoins.
2. Select a platform – Coinbase, Binance, Kraken, etc.
3. Create an account and verify your identity.
4. Deposit funds through a bank transfer, credit card, etc.
5. Buy the coins and transfer them to a secure wallet.

Start small, diversify, and only invest what you can afford to lose.

How to Stake Crypto

Staking involves locking up a certain amount of crypto to support the network and earn rewards.

1. Choose a coin that supports staking – examples include ETH, ADA, or SOL.
2. Use a wallet or exchange that offers staking.
3. Lock your coins and earn passive income, typically paid daily or weekly.

Top platforms for staking include Binance, Coinbase, Trust Wallet, and Ledger.

Is Crypto Halal?

Opinions vary among Islamic scholars. Some caution against crypto due to its volatility and speculative nature.

Tip: Always verify with a trusted scholar, as interpretations may differ by region.

Is Futures Trading of Cryptocurrency Allowed?

Many scholars consider leveraged crypto trading to be haram (forbidden) due to:

• High risk (gharar)
• Gambling-like elements (maysir)
• Use of leverage

For a halal approach, consider investing in actual cryptocurrency rather than futures or derivatives.

Are Weady’s Investments Smart?

Weady is a mobile app designed for entrepreneurs and content creators, enabling fast access to videos and creative tools.

It’s a multi-feature platform for all user levels, from beginner to expert.

However, due to capital risk and its token (Astro coin), it’s considered a high-stake investment. Do your research and only invest what you can afford to lose.

Final Remarks

There’s no denying crypto is one of the most exciting ventures of the digital age, but investing can be overwhelming.

Start with well-known assets like Bitcoin and Ethereum. Learn to track and secure your holdings, and understand your motivation for investing.

Whether you’re in it for potential profit, religious considerations, or curiosity in technology, proceed gradually – and wisely.