Welcome to Lesson 6 of Kenya Crypto Magazine’s Free 8-Week Cryptocurrency Course!

In Lesson 5, we explored crypto market metrics like market cap, trading volume, and circulating supply, and we learned how to navigate crypto aggregators such as CoinMarketCap and CoinGecko.

Now, in Lesson 6, we’ll focus on how to acquire cryptocurrency through different methods, including buying, staking, mining, and airdrops. We’ll also cover how to buy and sell crypto on Binance, one of the world’s leading crypto exchanges.

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How to Acquire Cryptocurrency

Acquiring cryptocurrency can be done in various ways, from purchasing on exchanges to earning it through staking and airdrops. Below are the top 10 methods to get your hands on crypto.

1️⃣ Buying with Cash or Card from Exchanges or OTC

The most common way to get crypto is by purchasing it through an exchange or an Over-the-Counter (OTC) service.

• Crypto Exchanges (e.g., Binance, Coinbase, Kraken): Allow you to buy crypto using a debit/credit card or bank transfer.
• OTC Trading: Ideal for large transactions, offering direct trading without affecting market prices.

🔗 Popular Exchanges:
👉 Binance
👉 Coinbase
👉 Kraken

2️⃣ Accepting Crypto as Payment

You can earn crypto by accepting it as payment for goods and services. Many businesses and freelancers now accept Bitcoin (BTC), Ethereum (ETH), and stablecoins like USDT.

• Platforms like BitPay, NOWPayments, and OpenNode help businesses integrate crypto payments.
• Freelancers can use crypto-friendly platforms like Bitwage, Upwork (for crypto projects), and Latium.

3️⃣ Mining

Mining is a process where computers solve complex mathematical problems to validate transactions on a blockchain. Miners are rewarded with new coins.

• Bitcoin Mining: Requires high-powered ASIC machines.
• Ethereum Mining (Before ETH 2.0): Used GPUs but has transitioned to staking.
• Altcoin Mining: Some coins, like Litecoin (LTC) and Monero (XMR), are still mined using CPUs and GPUs.

4️⃣ Staking

Staking allows you to earn passive income by locking up your crypto in a blockchain network to support its operations.

• Proof-of-Stake (PoS) Blockchains: Ethereum 2.0, Cardano (ADA), Polkadot (DOT), and Solana (SOL).
• Best Staking Platforms: Binance Earn, Kraken, and Coinbase.

5️⃣ Yield Farming

Yield farming involves lending or staking your crypto in DeFi (Decentralized Finance) platforms to earn rewards.

• Platforms like Aave, Compound, and Yearn.Finance offer yield farming opportunities.
• Returns vary based on Annual Percentage Yield (APY).

6️⃣ Liquidity Farming

Liquidity providers (LPs) add funds to Decentralized Exchanges (DEXs) like Uniswap, PancakeSwap, and Curve Finance to earn trading fees and token rewards.

7️⃣ Airdrops

Airdrops are free crypto giveaways by blockchain projects to promote new tokens.

• Examples: Uniswap (UNI) airdrop, Stellar (XLM) airdrop, and Aptos (APT) airdrop.
• Follow sites like Airdrops.io and CoinMarketCap’s Airdrop Calendar for upcoming events.

8️⃣ Trading

Crypto trading involves buying low and selling high. Popular trading styles include:

• Spot Trading: Buying and selling actual crypto assets.
• Futures Trading: Speculating on price movements with leverage.
• Day Trading: Short-term trades based on market trends.

9️⃣ Masternodes

Masternodes are full nodes in a blockchain network that maintain a copy of the ledger, validate transactions, and receive rewards.

• Common masternode coins: Dash (DASH), PIVX, and Zcoin (XZC).
• Masternodes require a significant amount of locked capital.

🔟 IDOs, ICOs, and Presales

Initial Coin Offerings (ICOs) and Initial DEX Offerings (IDOs) allow investors to buy new tokens before they hit the market.

• ICO Example: Ethereum (ETH) raised funds through an ICO in 2015.
• IDO Example: Many new tokens launch via PancakeSwap, Uniswap, and Solana’s Raydium.

🔹 Best Launchpad Platforms:
👉 Binance Launchpad
👉 Polkastarter
👉 DAO Maker

🎯 How to Buy and Sell Crypto on Binance

Binance is one of the most trusted and widely used crypto exchanges. Follow these steps to buy and sell crypto.

✅ How to Buy Crypto on Binance

1. Sign up on Binance and complete KYC verification.
2. Go to the “Buy Crypto” section and select your preferred payment method (Card, P2P, or Bank Transfer).
3. Choose the cryptocurrency you want to buy (e.g., BTC, ETH, USDT).
4. Enter the amount and confirm your transaction.
5. Your purchased crypto will appear in your Binance Wallet.

🔗 Join Binance Here: Binance Signup

✅ How to Sell Crypto on Binance

1. Go to the “Sell Crypto” section.
2. Select your preferred withdrawal method:
   • Convert to fiat (USD, EUR, KES, NGN, etc.) and withdraw to your bank.
   • Use Binance P2P (Peer-to-Peer) to sell crypto directly to buyers.
3. Confirm the sale and complete the transaction.

🎯 Why This Lesson Matters

✔ Helps you understand different ways to acquire crypto.
✔ Reduces risks associated with scams and rug pulls.
✔ Provides insights into passive income strategies like staking and yield farming.
✔ Teaches how to buy and sell crypto on Binance safely.

📌 Missed the Previous Lessons?

✅ Lesson 1: Introduction to Crypto & Blockchain
✅ Lesson 2: Understanding Cryptocurrency & Wallet Security
✅ Lesson 3: Navigating Trust Wallet & Transactions
✅ Lesson 4: Understanding Crypto Exchanges, Binance, and Security Measures
✅ Lesson 5: How to Analyze Crypto Metrics & Navigate Aggregators

🚀 What’s Next? Get Ready for Lesson 7! In Lesson 7, we will explore HOW TO BECOME A BINANCE MERCHANT, HOW TO SET ADS ON BINANCE P2P,REQUIREMENTS AND COMMON SCAMS

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