Hello!
So I've been getting a lot of questions from people lately regarding crypto and I thought I would try my best to help out those friends, family ( strangers?) who need help with just getting started!
Maybe you've heard about this crazy new thang called bitcoin or maybe you've been hearing a lot about these altcoins and you're here to test the waters but don't know where to start then this is for you!
Now, this may be subjective considering there are so many exchanges out there and everyday there are new ones popping up but for now I will focus on what got me first started in this space and that was Coinbase.
Coinbase is a US based company that figured out how to take crypto and make it easy to purchase via an easy to navigate app you can find on the app store. On top of that they also have a "functional" exchange, GDAX, where you can take your skills to the next level and start actively trading if that's your cup of tea. There are apps out like Cash app and more recently Robinhood that have options to purchase crypto as well, I haven't used them yet so you would have to navigate yourself.
So lets get started! You can start buy heading over to the app store and downloading Coinbase. Alternatively you can just click this link instead.
https://www.coinbase.com/join/58c95864dff5a8659d68a7cf
(Note: Coinbase is adding thousands upon thousands of people daily so give it time if you're waiting for any approval or verifications. )
Above is what it looks like when you access Coinbase via the website on your computer or the app!
After you have added your info, verified, banking, cards, etc. you click the buy button and you can choose from any of 4 cryptos (Bitcoin, Bitcoin Cash, Litecoin, Ethereum)
Keep in mind when you buy with a credit/debit card you will be subject to a fee of 3.99% (instant) where as buying with a bank account it will be 1.49% (week)
Now when you buy with a card you will instantly receive your coins but depending on your account and status a bank purchase will take you about a week (don't be alarmed if prices drop or spike, thats just the game..HODL)
If you're planning on purchasing large amounts, $5,000+ I would recommend using Coinbase's GDAX exchange to deposit USD and purchase crypto there, although it is a little tricker to navigate if you limit buy you aren't subject to any fees!
So that pretty much sums up how to purchase some of the big 4 cryptos out there, although the game is in these vast alts that are out there! More on navigating different exchanges and different alts that are out there in later posts to come...
Till then cheers! Welcome to the beautifully chaotic world of crypto!!! :)
I appreciate the way you structured all of this information in a very organized and understandable fashion. Even for others. Thank you.
Thank you my friend