I have quite a few friends that have asked me, “how do I buy Bitcoin, Litecoin, etc…”
I started mining BTC about 5 years ago and have been excited about BTC and cryptos since. I made this quick start guide to help you get involved and understand cryptocurrencies.
Main “Coins” Cryptocurrencies
Bitcoin – BTC
Etherium – ETH
Litecoin – LTC
Bitcoin Cash – BCH
Get Started/Buy coins on Coinbase.com here:
With Bitcoin almost hitting $20k people are afraid they can’t buy any. Not true, you can buy however much you want. For example, I have been buying a little every week for the last 5+ years. On Coinbase you can set up recurring buys weekly/monthly.
Another nice feature with Coinbase is that it’s insured AND you can take your coins offline and put them into cold storage. This means hackers can’t get to them because your wallet is physically off the internet in a couple vaults. The downside to cold storage is if you want access to your coins, you have to wait 48 hours for Coinbase to bring them back online.
Altcoins are exciting. Especially when people think they might’ve missed the boat on BTC. I don’t think this is true. IF BTC DOESN’T CRASH, I see it hitting $50k or $100k in the next 3-5 years. Anyhow, alt coins were created to solve problems that other coins like BTC might have. For example, BTC transactions are costing $10/pop now and are slow. Other coins have popped up to be faster, less expensive transfers, mined with GPUs, based on memes, etc… The key with any of these coins you want to back, is that you are behind what they bring to the table; better engineering, faster transactions, lower fees, funnier memes, etc…
Some Other AltCoins to consider:
Bitcoin – BCH
IOTA – IOTA
Ripple – XRP
Dash – DASH
Monero – XMR
ZCash – ZEC
ReddCoin – RDD
I like Reddcoin (RDD) in concept. It was based on having the ability to tip people on the internet after you read their post, story, etc.. If you’ve read this much you’re in luck. Download the Reddcoin wallet to your computer. Let it synch (this can take a long, long while). Send me your Reddcoin Wallet Address and I’ll send you 10,000 RDD –
about $28 USD in Reddcoins for FREE. My holiday gift to you (limited to first 10 friends <-deal over 🙁 ). Download here: https://www.reddcoin.com/ You have to keep your Wallet running so it’s in synch with the internet. After you have the coins you can move them into an exchange. Or, just leave your wallet running because when it runs you get more coins automagically. This is a “staking” coin.
I used to buy all sorts of altcoins, but now I just focus on the 2 top players (BTC and ETH) because paying attention to the other coins was ROLLERCOASTER RIDE on top of the insane BTC ride. Mentally it was exhausting.
Unless you possess magic prediction skills, I wouldn’t try jumping into any coins and being a day-trader. I would recommend picking a coin you back mentally, spiritually, etc… and HODL (internet speak for hold) onto them with a long-term plan.
You’ll need to use an exchange to buy alt coins, here’s a few good ones:
https://livecoin.net/?from=Livecoin-782d8NqX (my referral code)
You need to make a deposit into an exchange (exchange 1 currency like USD to a crypto and vice versa). Normally you can deposit USD from your checking or credit card. Or, you can use BTC or other coins if you have some and ‘exchange’ them.
What is a Bitcoin Videos?
How many coins are out there and what is their market capitalization:
Where are people buying/trading bitcoins around the world:
http://fiatleak.com – this is fun to watch.
Real-time BTC trading – tied to Coinbase:
Worth the 45 if you want an In-Depth understanding on The Past Present & Future of Cryptocurrency https://itunes.apple.com/…/the-after-on-podca…/id1265002699…