I’ve been here on Steemit and Dtube for 4 days now, and I can’t put my finger on it, but it’s really great to be here.
Obviously, I also wanted to get involved in the Cryptocurrency revolution that everyone is talking about. I had ZERO experience!!
Following the guides here as well as online, I have been able to buy my first fraction Bitcoin and then transfer it to Steem. It was easier than I thought, but I’d be lying if I wasn’t a bit apprehensive during the whole process.
I thought, to make it easier for anyone in the same boat, I’d place my process I followed here, as well as anything else I learnt.
Firstly, just so you have perspective, I am here in Perth Western Australia so I have some restrictions I had to bypass. Internationally some of the items I mention below may not be a concern for you :)
The first step I took was going onto Coinbase and setting up an account. Supplying the information wasn’t difficult but ensure you have your ID and Credit Card info close by. Taking photos and uploading the proof was easy, it's all done via the website and your phone camera.
Once my account was verified, which took minutes, I was able to buy a maximum of $250 AUD worth of Bitcoin, the limit we face here in Australia on Coinbase. It was highlighted that since I am in Australia, I can buy Bitcoin but NOT sell them. I’ll let you know how I fixed this issue below.
Once I confirmed my Bitcoin was in my Coinbase Wallet, I wanted to then purchase Steem.
To do this I went back to Steemit and chose the “menu item” and scrolled down to "Buy Steem".
From here, I purchased Steem via Blocktrades.
I set up the purchase by following the easy process that ended in a Wallet Address to transfer my Bitcoin to, which would then transfer my Steem to my Steemit account. I was a little confused at first, with this being my first Bitcoin transfer, but when I trusted the process it was far easier than I had thought.
The transfer happened in minutes, which was fantastic, I was expecting days!!
For the Aussies worried about not being able to sell your Bitcoin at Coinbase, I found a way to do it via CoinJar :)
Set up an account, transfer your Bitcoin between your wallets and you can sell directly into your linked account on CoinJar :)
The process of set up on CoinJar is a little longer, but once again not too difficult.
MOST IMPORTANT LESSON!
If I was to do it all over again, I would just use CoinJar https://coinjar.com.au from the beginning. I am certainly not looking at selling my Bitcoin or Steem anytime soon, but having the higher limit on purchase, as well as the ability to sell ( if I chose to ) is a huge option. Once again, this is only for Australia, and I am sure Coinbase will try and change this...eventually.
If you have any questions, I’ll answer them as best I can or forward you to where I got my information from.
If I can do it, anyone can!
Be Adventurous