Over the last two days, I have had a few friends ask me about how to buy Bitcoin or ask for more information on how it works. I decided to throw together a quick guide for beginners on the basics of cryptocurrencies and some information on how to safely make an investment. Follow this guide at your own risk, and please be careful.
Also, I have a strong preference towards Ethereum over Bitcoin and other cryptocurrencies so keep that in mind if you follow my advice. Before you rush off to the exchanges to buy some Bitcoin or Ethereum try to learn a little bit about cryptocurrencies first.
Here are some good articles to get started learning about the top three cryptocurrencies by market cap price of coin X number of coins. If you want to learn even more about cryptocurrencies here some more resources that will help you:.
Now that you have a better understanding of cryptocurrencies, if you want to go and buy some Bitcoin or Ethereum this is how to do it:. Create an account on Coinbase and go through their verification process. Coinbase has a pretty rigorous verification process because they are heavily regulated.
It will probably take a few days as well before you can start buying Bitcoin or Ether. Buy a Trezor to store your cryptocurrencies. Hardware wallets are expensive, but if you are investing more than the price of the wallet in cryptocurrencies it is well worth it.
People lose money all the time by storing Bitcoin and Ether in less secure ways. Be sure to follow the instructions that bitcoin and ethereum beginners guide with the Trezor and create a secure backup of your keys so that you can restore your wallet if you lose it. Take Warren Buffett's advice "Be fearful when others are greedy. Be greedy when others are fearful".
Or better yet hodl. If you enjoyed this post, please check out the new decentralized social network that I am building at fragmented. Stay up to date! Start Here Before you rush off to the exchanges to buy some Bitcoin or Ethereum try to learn a little bit about cryptocurrencies first. Read Digital Gold - This is in my opinion, the best book about cryptocurrencies. Even though bitcoin and ethereum beginners guide is pretty dated at this point, it is written like a novel and is not bitcoin and ethereum beginners guide technical at all.
It is perfect for beginners and very entertaining. Understand transaction volume and fees bitcoin and ethereum beginners guide as cryptocurrencies become more mainstream, the biggest differentiator is going to be how fast the development teams can scale the network to support increased demand. Notice from these charts that Ethereum processes far more transactions that Bitcoin, yet has significantly lower fees.
Read some in-depth guides this bitcoin and ethereum beginners guide is to a site called Blockgeeks which has some really great information on how Blockchain and Cryptocurrency technology works. How to Buy Bitcoin and Ethereum Now that you have a better understanding of cryptocurrencies, if you want to go and buy some Bitcoin or Ethereum this is how to do it: Hope this helps demystify cryptocurrencies a bit.
Good luck and remember to Hodl. Subscribe to Ryan Yosua's Blog Stay up to date!
Bitcoin Automatic Trading platform (bot) for BTCe exchange. Meow Coin Bitcointalk Cryptsy Trade Bitcoin MT4 Platform.
The results addicted the rudiments of Cleave's conception erectafil 20 mg overnight delivery erectile dysfunction urologist new york.