The simplest way to get into the crypto industry is to invest
With the advent of personal computers, many different terms have found a place in our vocabulary. Some of them are so popular that we sometimes use them as if by default. For example, we store data on files that are in turn stored in directories. When we open a file, a window pops up. Closing all open windows brings up the desktop. Similarly, we also use analogies in the crypto world. For example, we store funds in a wallet (online or offline), which is not actually a wallet but a pair of digital keys needed to open the wallet.
For computers, analogies for cryptocurrencies are also inspired by real life. Think of the process of earning or spending cryptocurrency like entering a highway or getting off it. These processes are called on-slope and off-slope.
How does this work?
The simplest way to get into the crypto industry is by investing, meaning you buy coins by exchanging fiat money. Most people do this through online exchanges. However, not all exchange devices allow direct purchase. Therefore, when you receive crypto in exchange for fiat, you are using a forwarding method. When you spend crypto on something other than a digital asset, you are taking a skewed path.
Both uphill and downhill are key to keeping the crypto industry running smoothly. How? Consider this: you work for a company that is paying you in part or in full in cryptocurrency. In that case, the company is beefing up its employees. Usually, employees are fine with this payment system, since most of them want to trade or hold digital assets anyway.
But this can create problems for vendors, who accept cryptocurrency payments for their goods and services. These businesses want to get off the highway as soon as possible after receiving crypto payments. Thus, these providers act as forward-thinking short-cutters. Relatively speaking, you are a supplier on the road and the supplier is a stop for you.
Are there ways to get into the ramp?
There are mainly two other ways to get on the go, besides centralized (online) cryptocurrency exchanges.
1) Contact your local merchants. But this is no longer in vogue. You can’t meet often and it takes great confidence that traders won’t scam you.
2) Use a crypto ATM. Cryptocurrency ATMs work a little differently than traditional ATMs. At crypto ATMs, you need to load money into the machine and the machine will deposit the cryptocurrency into your wallet. But, again, there is one big problem with this method: there are no such ATMs and in all cities.
