Hello there I'm Hunter. I like gold, guns, crypto-currencies, wine and quantum physics. Crypto-currencies being the operative word for this post. Its a "how to" post. This is for people NEW to the crypto-currency space who have already done their research (or not) and decided to get into it. I'm going to show you how to safely buy and store crypto-currencies like Bitcoin. To begin, you need a bank account or credit card, a secure wallet, an entry exchange and a crypto currency trading exchange.
1) CREATE YOUR COINBASE ACCOUNT: Coinbase is a San Francisco based digital asset exchange that lets you turn your fiat currency into crypto-currency. Its the main entry point into the crypto space for most people. Through Coinbase, you'll be able to buy Bitcoin, Ethereum and Litecoin. Although your cryptos are insured and protected in the wallet they provide, coming from the gold and silver markets and seeing whats happened to some previous crypto-currency exchanges, I want my crypto to be under my control as much as possible and not vulnerable to counterparty risk or someone hacking my email etc. To create your Coinbase account, you can buy a small amount of crypto instantly with a credit card. What you'll most likely want to do after that is connect your bank account. The amount you can buy is higher and the fees they charge to buy are lower. As you pass their various "Know Your Customer" verification requirements, your limits will increase.
Create your Coinbase account and get $10 in free Bitcoin at: www.stacksilvergetgold.com/coinbase
Here are a couple "how to set up coinbase" videos:
2) DOWNLOAD YOUR SECURE WALLET: In order to hold your cryptocurrency, you need a "wallet". There are many different kinds of wallets but I'm not going to discuss them all here. You either want a software wallet or a hardware wallet and will probably end up using a combination of both. For starters and because its free, secure and super easy to use, use the Exodus wallet below first. Then if you get more into cryptos, order a hardware wallet like the Trezor. A hardware wallet allows you to completely disconnect from the internet and store your bitcoin or cryptocurrency offline and even in a home safe.
EXODUS.IO WALLET - Exodus is a desktop software wallet that you download onto your computer. Its more secure than leaving your cryptos on an exchange or even in coinbase and lets you store your private keys. Its backed up with not only your password but a autogenerated 12 word passphrase as well. Exodus also is integrated with Shapeshift.io which means once you add cryptos to your wallet, you'll be able to trade them for a select few other crypto-currencies if you want. Easy to download and set up, here's a basic outline:
Step one: Go to exodus.io and download the wallet to your desktop
Step two: Send your cryptos from your Coinbase account to your Exodus wallet.
Step three: Back up your wallet.
Here are the accompanying videos:
Exodus Intro: https://vimeo.com/172347797
TREZOR.IO WALLET - Trezor has been and is currently my favorite hardware wallet. Ultra secure and easy to use. You have to pay for and order this one. You plug it into the USB port in your computer and follow the automated set up instructions. After that, if you know how to work Exodus, you'll know how to work Trezor. This is what it looks like and you can get it here: http://www.stacksilvergetgold.com/trezor
3) CREATE YOUR POLONIEX ACCOUNT: Poloniex is a US based crypto-currency exchange where you can buy, sell and trade about 90 different crypto-currencies. Essentially all you have to do is create your account, pass the "know your customer" (KYC) requirements, transfer some Bitcoin from your wallet to your Poloniex account and then you're ready to buy on Poloniex. To set up your Poloniex account you need to go through their account set up and verification process and then send some bitcoin from your existing wallet to your poloniex account:
Step one: Make sure you bought some Bitcoin and have it in your Coinbase account or Exodus wallet.
Step two: Create your Poloniex account
Step three: Send some Bitcoin from Coinbase or Exodus to Poloniex.
Step four: Buy your first crypto or "alt-coin" on Poloniex.
Here are the how to videos:
So thats enough to get you started safely.
1) Create and add funds to your Coinbase account.
2) Download and set up your Exodus.io wallet
3) Create and fund your Poloniex account
4) Buy your first crypto on Poloniex
NEED MORE INFO? We are creating a complete online training program showing you how to buy gold, silver and crypto-currencies at:
www.StackSilverGetGoldBuyBitcoin.com