I remember having a really hard time trying to figure out how and where to purchase bitcoin when I first heard about it in 2014. So to save you the time and the headache, I decided to create a quick and easy step-by-step guide on how you can purchase your first cryptocurrency. You're welcome. At the time of creating this post, bitcoin is valued at $2,739 almost hiting its all time high, so it may be a bit too expensive to get into bitcoin now. I'm sure there will be a pullback in price before it skyrockets past its ATH so I would wait for a better entry. I'm no financial advisor this is just what I would do, I always tell people to only invest what they are willing to lose so take my opinion with a grain of salt. There are other currencies available to purchase through the platform I'll mention below like ethereum which is valued at $257 and litecoin at $28. You can purchase fractions of these currencies anything from $10 worth to whatever, you can buy .25 of a bitcoin or .000453 of a bitcoin. I'm very confident that these currencies will continue to go up in value. I still suggest you do your research first before deciding which currency to invest into though.
Follow this guide and I'm sure by the end of it you'll own your first shares of BTC, ETH, or LTC.
1. Sign up for Coinbase
Go to coinbase.com and create yourself an account (make sure to use a strong password and setup two-step verification). Also use this LINK to create your account, we will both receive $10.00 worth in bitcoin when you purchase your first $100.00 so that's nice.
2. Set up two-step verification
To set up your two-step verification go to settings>security>verify your phone then set up google authenticator. If you have an iphone you will have to download the google authenticator app through the app store or through the play store if you are on an android fofono. Make sure to do this, you want to add as much security in your account as possible to keep hackers away.
3. Purchase cryptocurrency
Now go to the Buy/Sell tab and chose your preferred payment method. You can either link your bank account or add a credit or debit card to purchase. I prefer using the debit/credit card method because its a lot faster than using a bank transfer. The purchase is immediate but you don't receive your cryptocurrency until about 7 days after the transaction, transaction times speed up the more you purchase through coinbase. Here you will have the option to choose which currency you would like to purchase. For those who are a bit wary or skeptical about coinbase I suggest you visit this page and read up. https://www.coinbase.com/legal/insurance
4. Create your plan
Okay so now a few days go by and you finally receive your bitcoin! cooch. Now, here is where you have to decide what you are intending to do in the cryptocurrency world. You can either use them as another investment vehicle for your future. You can actively trade them on an exchange and cash out the profit. Or you can even go to the dark web and use it for shady shit (don't do that). I personally have two portfolios, one for investing and another for trading. My trading portfolios are on poloniex.com and bittrex.com. I've been trading pretty actively lately on poloniex and I'm having tons of fun doing it. I increased my portfolio 400% trading these past couple of months, so that's pretty sweet. It's the most profitable method in my opinion but it's also the riskiest. The market is very volatile so you need to read up on how to manage risk and read charts and do your research on what you are trading and stuff. I'm no pro at this, I'm still learning actually. I've made a ton of mistakes and I'm learning from them still. So go forth and make your own, yeet.
If you decided to invest in cryptocurrencies for the long run, you can setup coinbase to make daily, weekly, or monthly transfers to your cryptocurrency wallet in the buy/sell tab on the coinbase dashboard. Just sit and watch your coins compound growth (hopefully, yeet) overtime.
Here is a list of coins that I'm investing for the long run.
Ripple XRP
Ethereum ETH
Bitcoin BTC
SC Siacoin
Basic Attention Token BAT
Steem STEEM
I'll be creating another post soon on how to transfer your currencies to an exchange and resources if you're interested in getting into cryptocurrency trading. Even if you are not I'm still doing it anyways. Remember to follow me on steemit, upvote, comment, interact. Until next time, deuce.
