this post was submitted on 15 Jun 2025
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No Stupid Questions

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In this day and age, I unfortunately have to have an alternative source of income to sustain myself. How the fuck do I get started with cryptocurrency?

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[–] [email protected] 12 points 2 days ago* (last edited 2 days ago)

I hope you’re not looking at trading crypto as a source of income. It’s not. It’s just as easy to lose money as it is to make it. I also encourage you to carefully consider tax implications.

As for the rest, it all depends on what you plan to do, what currencies you want to use, how much risk you’re comfortable with, and your expendable income.

You can create an account on of many exchanges (Binance, Coinbase, etc) that will allow you to deposit or withdraw physical currency and buy or sell many different crypto coins. I believe many of these will require you to register an ID (if you live in the US) for reporting to the IRS. Also, crypto exchanges have been hacked and people have lost money, so it’s worth considering how much you are comfortable with leaving on the exchange.

If you just need to receive crypto or care to transfer your money from an exchange to a wallet that you control, you can use a number of different wallets. There are hardware wallets that you can buy that are dedicated to storing crypto securely offline. There are also apps for your phone for multi currency wallets. However you do it, you’re going to want to make sure that you store passwords/seed phrases/etc safely and securely. If you lose your keys, you lose your currency. If someone gets access to your keys, you lose your currency.

Nerdwallet (a pretty great financial website if you’re ever looking to compare banks or credit cards) has a pretty detailed write up on the different types of wallets and how to create one. You can find it here: https://www.nerdwallet.com/article/investing/get-a-crypto-wallet

Good luck!