The Lebanese community is in love with new technologies. You have probably heard of this word several times but still haven’t figured out what it really means. We give you the opportunity to explore and learn about cryptocurrencies in general, and specifically crypto in Lebanon.

What is Cryptocurrencies?

The word “crypto” comes from the root “encrypted” which means highly secured. So, in other words, your transactions will be encrypted. You might be wondering why this is an advantage for crypto traders in Lebanon. Well, it is because it is decentralized in nature, i.e. it is not managed and controlled by central authorities.

You might also have heard about crypto mining in Lebanon, and you might be still wondering what it is. The answer is that cryptocurrency is developed through mining – a process of complex problems usually solved by computers. Every time you get a successful cryptocurrency transaction, you will be rewarded for it. In Cryptorabic, we can provide you with all the mining equipments you might need to get started, click here.

In order to manage and record transactions, blockchain is a technology behind most cryptocurrencies, such as bitcoin, ethereum, and more.

History of Bitcoin

Due to the financial crisis that emerged in 2008, people started losing trust in their actual currency. That’s when bitcoin has become a solution to this crisis. This change has certainly been one of the building blocks of the appearance of a new currency, in which the first crypto was developed through blockchain.

That’s why early Lebanese bitcoin adopters took advantage of this emergence and found a great way to make money using crypto in Lebanon.

Why Invest in Crypto?

Let us tell you why you should be investing in cryptocurrencies, especially in Beirut and its suburbs.

As well as being exceptionally secure in nature, Bitcoin is peer-to-peer (P2P), which implies including no in-between like a bank or visa, which has become a major issue in Lebanon following the crisis that is happening. It also offers an insignificant transaction cost which is a plus for all Lebanese people.

In addition, it is quick and completely straightforward. For instance, each Bitcoin exchange you make is kept in a public record that is seen by all, and thus it is not falsified.

Blockchain exchanges are likewise irreversible, making fraud less likely to happen. You can exchange Bitcoin through trades, such as KuCoin, Coinbase, and Binance, which is the most popular exchange in Lebanon.

How do i buy cryptocurrencies in Lebanon?

The simplest method for beginning your purchase of cryptocurrencies in our local area would be through an exchange platform or a broker. There are a few well-known ones and you can utilize them right on your phone or contact them. This permits holders to purchase, sell, and store their crypto on their phones or laptops.

All you need to do is to download any exchange application, Binance for example. From that point onward, you can exchange right away, however, be cautious because you could get addicted to it.

Any amount of cash can be a starter since you can purchase fragments of a coin and it doesn’t have to be an entire coin. Although experts like us, usually advise starting your cryptocurrency journey with a budget of $100.

What cryptocurrencies should you know about and why should you start making money online with crypto in Lebanon?

You’ve most likely heard people talking about Bitcoin and Dogecoin. This is basically on the grounds that the two coins went from being worth as little as a penny to far more than that in only a short period of time. Web users invest in these two coins the most since they are notable and many individuals have put resources into them which justifies why Lebanese people write all their articles about them.

The Crypto situation in Lebanon

The rise of the crypto world in Lebanon, as we all know, was due to the economic and financial crisis over the past few years which couldn’t be solved yet. This is why, we highly encourage you to start investing in crypto. However, you should beware of the risks ahead, such as going through a crypto scam or wrongly investing.

This is why we recommend you join our cryptocurrency academy as our team is composed of well-experienced traders in Lebanon who will help you get through the first few steps in your digital journey with crypto.

You can also join our free community group on telegram, and also register for a VIP membership.