Quick 3 Minute Guide to buy your Crypto
The hardest thing about cryptocurrency trading, investing or just buying in general is obtaining your first piece of coin at a reasonable price. Especially if you live in the United States because converting the US Dollar to anything else can be complicated.
Well today briefly I'm going to provide a couple of quick options to grab your first major crypto money and give you a couple reasons why you should be ignoring #bitcoin and focus on #ethereum if planning on trading for other coins and of course I'll end off with a couple coins I am personally holding right now.
Let's get started.
First of all bitcoin has way higher mining fees and is way t0o mainstream so if you're looking to get in quick and less expensive stay close with Ethereum (technically it's called Ether but I'll discuss that another time).
There are 2 main sites to convert your US Dollars to crypto which are reliable and reasonably priced.
- coinbase.com
- cex.io
Quick compare, #coinbase is very mainstream and is very limited when first setting up however they increase your limits fast.
cex has less options however they update every 20 to 30 seconds on their pricing and the transaction costs are already built into the price proving a much cleaner cost break down.
*** Disclaimer I have yet to use CEX because I hate giving out my personal information and Coinbase was the first one I found and started using however next time I want a quick trade I will not be using Coinbase. I'll leave the reason why for another post.*
I'm not going to tell you here how to setup a wallet for your currency because the goal is transfer it to a crypto exchange so we can play the wild market.
Essentially go over to their website, sign up and put in the required documentation. Simple right?
Another major plus for Coinbase is you get access to their other platform called GDAX which allows you to set a limit order although not with purchasing unless you first WIRE money into them.
I know this post is a little wild and may even bounce around topics however hopefully this gives you a reputable source to grab some cryptocurrency which we can use to invest later.
What do you think, is there anything I missed?
