How To Buy Crypto In Hawaii?

HOW TO BUY CRYPTO IN HAWAII?

As many of you know, Hawaii is one of the most regulated states when it comes to Crypto. Buying Crypto in Hawaii is possible and legal, unfortunately, many Hawaii residents have missed out on being a part of this new innovation because they have limited options to buy it. This is due to stringent rules that make obtaining licenses difficult and impractical for exchanges.

For example, Coinbase is the largest cryptocurrency exchange in the world, but it refuses to do business in the Aloha State. Since, Coinbase is not currently available in Hawaii, the next best place we recommend to buy cryptocurrency in Hawaii is on the Crypto.com!

Many of our team members have been into the crypto space for quite some time, & this year we found Crypto.com to be the easiest & simplest.

CLICK HERE to get started!

Simply download the app on your phone & sign up for a free account!

Other alternatives include:

  • Uphold
  • Kraken
  • Gemini
  • Blockfi
  • Bitforex
  • Bitmart

GETTING STARTED for beginners!

SET UP A SECURE & ENCRYPTED EMAIL

Please go to https://protonmail.com/ and create a FREE email account. Do not use a regular email for anything related to your crypto so everything stays safe. Please use this email for logins for all accounts you create like your trading accounts and portfolios.

ProtonMail is the world’s largest secure email service. It offers end-to-end encryption and lots of other great security features to keep your communications private. Even the company hosting your emails has no way of reading them, so you can rest assured that they can’t be read by third parties either.

TYPES OF CRYPTOCURRENCY WALLETS

A wallet is not only used for sending and receiving cryptocurrency, it doubles as your ledger. It stores all transactions that have taken place on the blockchain in one location. You can track everything that is happening on-chain including your personal balance.

There are several different types of cryptocurrency wallets:

  •  Software wallets
  • Desktop wallets
  • Online wallets
  • Mobile wallets
  • Hardware wallets
  • Paper wallet

Software Wallets are hot wallets as they’re often connected to the Internet. These are wallets that run on a specific program that allows easy access.

Some examples of software wallets include:

Desktop Wallets – A desktop wallet is a piece of software that resides on the user’s PC. Users can only access their accounts on the platform where the software was downloaded, guaranteeing that their information is kept private. However, there are some concerns, such as the prevalence of computer viruses, which can impact the amount of money you save and your personal information.

Online Wallets – These wallets are cloud-based and may be accessed from any computing device, at any time, as long as you have a reliable Internet connection. Despite the fact that they are convenient and may be used to purchase products, they are still vulnerable to third-party assaults, especially if you utilize a public Internet connection to access your account. – https://www.metamask.io/https://www.phantom.app/

Mobile Wallets – Wallets that operate via a mobile application that you must download to your phone. When purchasing for things in stores that take cryptocurrency, the majority of users use mobile wallets. These wallets have a substantially smaller storage space than PC wallets. – https://www.crypto.com/

Hardware Wallets are different from software wallets in that they keep a user’s private keys on a physical device like a flash drive. While hardware wallets can be used to execute a variety of online transactions, their primary goal is to keep your data safe and secure. Many hardware wallets have capabilities that work with a variety of interfaces, making them simple to use. A hardware wallet is the most expensive sort of wallet, but it is also the most difficult to hack.

Types of Hardware Wallets: – https://www.ledger.com/ (Ledger Nano X & Ledger Nano S) – https://trezor.io/ (Trezor One & Trezor Model T)

INTRO TO CRYPTO, NFTs, & THE METAVERSE

WHAT IS CRYPTOCURRENCY?

Cryptocurrency is a digital, encrypted, and decentralized medium of exchange. There is no central body that administers and maintains the value of a cryptocurrency, unlike the US dollar or the Euro. Instead, these responsibilities are divided throughout the internet among the users of a cryptocurrency. Although most individuals invest in cryptocurrencies as they would in other assets such as stocks or precious metals, you may use crypto to buy conventional goods and services.

While cryptocurrency is a fresh and interesting asset class, investing in it can be risky because you must conduct extensive research to properly comprehend how each system operates. The so called founder of Bitcoin, Satoshi Nakamoto first proposed Bitcoin as a peer-to-peer electronic cash system in a 2008 paper titled “Bitcoin: A Peer-to-Peer Electronic Cash System.”

“An electronic payment system based on cryptographic proof instead of trust,” Nakamoto said of the concept. This cryptographic proof takes the form of verified and recorded transactions on a blockchain.

WHAT IS THE BLOCKCHAIN?

A blockchain is a decentralized, open ledger that stores transactions in code. In practice, it’s similar to a checkbook that’s spread across thousands of computers all over the world. Transactions are stored in “blocks,” which are then linked to previous bitcoin transactions in a “chain.”

Everyone who uses a cryptocurrency has their own copy of this book on a blockchain, which creates a unified transaction record. Each new transaction is logged by software as it occurs, and every copy of the blockchain is updated with the new information at the same time, ensuring that all records are identical and correct. Each transaction is validated using one of two basic validation mechanisms to prevent fraud: proof of labor or proof of stake.

WHAT IS THE METAVERSE?

The Metaverse is a shared, immersive virtual world where participants, usually represented by avatars, can interact with one another, create in-world objects and landscapes, and generate experiences. Users can purchase, sell, and trade digital real estate, products, avatar accessories, and more in Metaverses that have their own intrinsic economies and currencies.

The Metaverse can be accessed using a computer, a virtual reality (VR) headset, or a smartphone. A crypto Metaverse, in particular, is one in which the underlying technology is blockchain and the economy is based on crypto assets such as Metaverse tokens. Decentraland, Cryptovoxels, Alien Worlds, Axie Infinity, and The Sandbox are examples of crypto Metaverses and protocols that integrate Metaverse components.

While Metaverse-like environments have long existed in massively multiplayer online games, the addition of blockchain, crypto, and virtual reality to the mix is changing not only who can play and what they can do, but also demonstrating the real-world market value of assets, interactions, and experiences earned in blockchain games.

Everything you need to know about NFTs in Hawaii!

WHAT IS AN NFT?

The term NFT stands for “non-fungible token”, which basically means that it’s a one-of-a-kind digital asset that belongs to you and you only. Artwork, music, and videos are currently the most common types of NFTs. They are bought and traded online, often using cryptocurrency, and they’re usually encoded with the same software as many other cryptos.

Despite the fact that they’ve been here since 2014, NFTs are gaining popularity currently as a popular means to buy and sell digital artwork. Individual images—or perhaps the full collage of images—can be viewed for free on the internet. So, why are people prepared to spend millions of dollars on something that might be easily screen-shotted or downloaded? Because a non-financial transaction permits the buyer to keep the original object.

It also comes with built-in authentication, which acts as proof of ownership. The “digital bragging rights” are almost as valuable as the item itself to collectors.

HOW IS AN NFT DIFFERENT FROM CRYPTOCURRENCY?

The term “non-fungible token” refers to a token that is not fungible. It’s usually programmed in the same way as cryptocurrencies like Bitcoin or Ethereum, but that’s where the similarities end. Cryptocurrencies and physical money are both “fungible,” meaning they may be traded or exchanged for one another. They’re also worth the same amount of money—one dollar is always worth another dollar, and one Bitcoin is always worth another Bitcoin.

The fungibility of cryptocurrency makes it a secure way to execute blockchain transactions. NFTs aren’t like other materials. Each contains a digital signature that prevents NFTs from being substituted for or compared to one another (hence, non-fungible)

HOW DOES AN NFT WORK?

NFTs are stored on a blockchain, which is a decentralized public ledger that keeps track of transactions. Most people are familiar with blockchain as the underlying technology that allows cryptocurrencies to exist. NFTs are most commonly kept on the Ethereum blockchain, although they can also be held on other blockchains such as Solana!

An NFT is made up of digital objects that represent both tangible and intangible objects, such as:

Digital Art: – GIFs – Collectibles – Music – Videos

Real World Items: – Deeds to a car – Tickets to a real world event – Tokenized invoices – Legal documents – Signatures Lots and lots more options to get creative with!

NFTs are essentially digital versions of tangible collector’s artifacts. As a result, rather than receiving an actual oil painting to put on the wall, the customer receives a digital file. They also obtain exclusive rights to the property. It’s true: NFTs can only have one owner at a time. Because NFTs include unique data, it’s simple to verify ownership and transfer tokens between owners.

They can also be used to hold specific information by the owner or author. Artists, for example, can sign their work by putting their signature in the metadata of an NFT.

WHAT ARE NFT’s USED FOR?

Artists and content creators have a one-of-a-kind opportunity to monetize their work thanks to blockchain technology and NFTs. Artists, for example, no longer have to sell their work through galleries or auction houses. Instead, the artist can sell it as an NFT straight to the consumer, allowing them to keep a larger portion of the profit. Additionally, artists can integrate royalties into their software so that they receive a share of sales when their work is sold to a new owner. This is a desirable feature because most artists do not receive subsequent proceeds after their first sale.

 

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