I will be direct from the jump here--- I do not have anything to gain from any of you getting into bitcoin or the financial revolution taking place. I’m simply passionate about blockchain technology, and feel a need to share and journal what I’ve learned. That being said, please understand that there is no get rich quick schemes in this space. Dedication-Research-Time and Work is required. Cryptocurrency is the first and only unseizable store of value in human history. Apologies for repeating… “the first unseizable store of value in human history,” but 99% of the world still needs to hear it. Cryptocurrencies grant us the freedom to be our own bank… amazing. However, as all forms of liberty demand, responsibility and security is on you and you alone. So be sure to maintain private, organized, and super secure records.
So, for anyone looking to get into bitcoin, here are (7) steps I recommend you follow to give you a head start, and help you move along:
Sign up with coinbase at the following link. Note, you should do this sooner than later because it will take some time to get verified--- its free to signup. Coinbase is the most user friendly platform to buy bitcoin, ethereum, and litecoin. Something like 99% of people living in the US start there bitcoin journeys at coinbase (however, we will actually stray away from them quite quickly due to the high transactions fees). https://www.coinbase.com/join/529f806680a425092200035b
Once verified with coinbase, deposit some $USD and buy some bitcoin, $1, $10, $100, $1000, whatever amount you can live without. After a $100 worth of transactions coinbase gives you $10 of free bitcoin. This is the only reason we start out with them-- nobody else is giving $10 of free bitcoin.
I will send you some ethereum though! Send me your coinbase eth wallet address, and I will send you some eth.
Signup for an account at https://gemini.com/ --- this is another exchange I recommend you utilize for your regular bitcoin and ethereum purchases. I choose this site because it’s user friendly, has a good team, and is most affordable as Gemini pays for the fees that are required to send bitcoin through space. This site is also free to sign up, and will also take sometime to get verified. In regards to how much to contribute (i get asked a lot), everyone is in a unique financial situation, but Dollar cost averaging is best strategy for beginners, for its simplicity and passivity. Small weekly or monthly contributions average out over time and you capitalize on the dips and spikes over time.
Download the blockfolio app on your smart phone to track the crypto market--- utilize this tool to manually insert all your digital asset transactions, and track your accounting.
Buy a ledger nano S hardware wallet at the following link (this is what I recommend you use to store the keys that access your assets, so you can keep them private and off any exchange or computer). Note, you can wait on this one if you want, because you don't have any bitcoin yet, but doesn’t hurt to just get one if you have the funds--- they tend to sell out, and ship from France so it takes some time to get): https://l.facebook.com/l.php?u=https%3A%2F%2Fwww.ledgerwallet.com%2Fr%2F7f65&h=ATMZydyab3-ILrQUMUCDX_SYDOVU9AuM-DgNjzm0jvx2Z4mAO5Vp0fL8bv1r41FWUjutM-oQ0VRbGW3VBG92yQn23x51cGUCk7voYf7QHjjVbdNUjuNbMRTIy5MBRivCTnKfcwLYuFsoYhgHB2ys4HHrz6BM-uwq9eTEebww4dIhTtO3gAcFRsbXSIy2ntTGRRYV1i5_6gbijiAktWDslVQkSuPmZkggbOnv5Zl0rtdeQhZlIDB_hRcS9aQvXpIdQnJEcJZjpa1wb4BbO5rEsJ0j
Signup with genesis mining, and purchase whatever you can of the open ended bitcoin mining contracts: https://www.genesis-mining.com/a/1047371 . If you use this promo code you will get 3% of your order: OMVt8h
These (7) steps will get you started in the right direction, and keep you busy--- When you complete all the steps above you will be ahead of 99% of the world… any questions feel free to contact me. Lastly, I am NOT a financial advisor and this is not intended to be financial advice.