The recent hype behind a Bitcoin has brought a lot of attention to the cryptocurrency world and the Blockchain. Being part of the hype and making money and understanding it can be difficult, and complicated, leaving some people without a clue of where to start or what to do or what they are even investing in or buying. I was lucky enough to learn from some of the best like Brock Peirce and Dave Levine, they taught me and they themselves made millions and have been in the game a long time. So now I am just passing down to you what I think is helpful and what they taught me
First: What is a bitcoin
I think it is important for somebody to understand what they are investing in so they can think for themselves and grow. So here’s video about how Cryptocurrency works
Now that we understand that, we should be informed about how the Cryptocurrency world is changing and where we can profit. So in my opinion, Steemit is a good place to get your information, another good place is YouTube. Make sure that the content you’re looking at is recent unless you’re looking at a video so it answers a question you have, but as far as news go you want to stay on the cutting edge so you have an even playing field with the rest of everyone else. These both also have a lot of basic questions that can easily be answered, so if you have a question, just type it into YouTube or look for it on Steemit and I’m sure someone will have a post or video on it.
Now that we know what a Bitcoin is, how it works and we are informed daily on its changes and we’re ready to make our first move, where can we go? You want to go to an exchange, the most popular exchange right now is Coinbase, you can simply download the app and put your card on it and buy some, you do have a limit on how much you can spend but the more you buy the larger that limit gets. Here are a few good ones on rapid fire for you
Gemeni https://gemini.com
Poloniex https://m.poloniex.com
Bittrex https://bittrex.com
Kraken https://www.kraken.com
See which one works for you and where you can get the best exchange rate, these exchanges require approval, this means you must give them your Social security, a picture of you and your ID and maybe more and you must wait till they go over and approve it. Don’t let this scare you into thinking it’s a scam. The reason they do this is because the government is most likely up their asses and they want/need this information.
The next thing you should consider is where to keep the coins you have bought. You could leave them on the exchange but in my opinion I like moving them to a storage or a “wallet” there are hardware wallets and web wallets. Hardware wallets like Trezor are like a USB that you keep your coins on, they are offline and one of the safest way to keep your coins, web wallets are online, you just need to make an account, get your wallet address and send the coins to that address or scan it. Here are some wallets I like
Storage/Wallet options:
Trezor.io
Ledgerwallet.com
Bitgo.com
Jaxx.io
Myetherwallet.com
Exodus.io
These wallets give you a 12 word password, write it down because you CAN NOT get into your account without it, keep it safe.
Well there you go, that’s a very basic beginning on your journey to making it big in the cryptocurrency world. If you would like more of this or think I left left something out or have something to share, let me know in the comment section and Resteem so others can learn too.