How To Jump Into Crypto : 5 Easy Steps

Everyone is talking about Crypto, your friends family and co-workers are making mad money and you are still sitting on the sidelines. It’s time to put together a plan to get some money invested, but more importantly get informed, educated and learn how to do it easily and efficiently, I will try and assist you in getting started. Remember this is not financial/investment advice, only a roadmap to get in the game quickly and correctly.

COINBASE APStep 1. Coinbase is the number one step, Coinbase is the most famous name when it comes to buying Cryptocurrency, the reason is they make it very easy through the Coinbase Ap. You can download the Coinbase Ap, Sign up and most likely be buying Bitcoin, Bitcoin Cash, Ethereum, or Litecoin within a few minutes. Here is a Link to get you started with coinbase and get $10 Bitcoin free after your first 100 purchase.

Coinbase works both as an Ap and a website, I recommend using both. You will be able to purchase with a credit card or by linking a checking or savings account to Coinbase. The website has more functionality and you can set up Auto-Buys for recurring purchases under Tools you will see an option to do recurring for Bitcoin just specify the amount and the time period.

Step 2. GDAX– GDAX is owned by Coinbase and is a good way to start buying Crypto’s. Gdax does not use an Ap but it partners with Coinbase and you can easily move your purchases over from Coinbase to trade on the GDAX Platform. Gdax is also a less expensive way to buy, although you will need to link a Credit Card or Checking/savings acct. and deposit funds first. Funds can take 5-7 days to get to the account so Coinbase is a quicker solution but GDAX is the way to go long term as it has a nice trading platform that allows you to place limit orders or set stops. The fees are a lot less than Coinbase and eventually you will want to rely on GDAX more. Coinbase is more for first time buyers, recurring transactions and catching market dips when you are on the go and not in from of your computer. Gemini – Owned by the Winklevoss twins is another nice exchange very similar to GDAX and is also another good option.

Coinbase as of Late December 2017 supports Bitcoin, Bitcoin Cash, Ethereum and Litecoin with more coins to be listed early in 2018.

-GDAX currently offers the same coins as Coinbase. Gemini  supports Bitcoin and Ethereum as of Dec 2017.

Step 3 – Registering with a couple Major Exchanges so you can purchase coins such as Ripple, Iota, Omg, Neo, Monero, etc… Exchanges only deal in Cryptocurrency to purchase other coins or tokens so you will have to learn to send coins from the Coinbase Ap or Gdax into the corresponding wallet on the new exchange. Remember to only send Btc to a Btc Wallet, same applies with all other coins and tokens.

Exchanges to Consider depending on your location

-BinanaceReferral Code

-Cryptopia – Referral Code

Bittrex, Krakken, Poloniex, Cryptopia, bithumb, bitstamp, are all popular as well but may depend on your location as Bitfinex no longer does business in the U.S.A and Bittrex seems to have more customers than they can handle. Below is a link to all current major exchange in the world so you can research and see which one works for you.

Major Cryptocurrency Exchanges

Step 4 – Keeping your Coins/Tokens Safe! 

You will need to protect your investment and keep your coins safe, don’t leave your coins on Coinbase or Exchanges indefinitely, take control and use ether a paper wallet or more importantly a Hardware Wallet.

Please checkout the Wallet Page!

Learn about the Ledger Nano S Hardware Wallet

Learn about the Trezor Hardware Wallet

 

Step 5 – Aps and Websites you’ll need. Track your Portfolio, look at charts, stay educated!

Coincap – My Favorite! This where I input my portfolio holdings and check on It every 30 seconds and wake up in the middle of the night and check even more! LOL. CoinCap has great features, you can watch almost any crypto-currency. The app has built in alerts, so when the price of a currency goes where your desired price it will notify you. You can also have a portfolio within the app. Which I don’t use. You can view charts, price index, and more. The crypto-currencies can be arranged by Price by Market cap, Percentage change for 24hours, available supply and more. Its a live list that consistently updates every second, Real Time!

Authy –  You will need Authy, of Google Authenticator to comply with 2-step Verification on many of the exchanges safe guarding your sites so no one can empty you wallet out with access to your phone and all your passwords.

XE Currency Converter Ap – The app has great features, you can convert BTC/USD or USD/EUR or EUR/BTC, Heck whatever currency you want to convert. A lot of financial experts and FX Brokers/Traders use this app for their conversions.

Blockfolio – Another great Ap for tracking prices, inputing you positions and seeing values in dollars or Btc. You can also set alerts.

Tab Trader – This is a great Ap for comparing price movements on the most popular exchanges with live charts.

Hodl – Another portfolio tracking Ap which is very cool and lets you set up which exchanges pricing you would like to use for each coin/token you are tracking.

My goto Website is www.Coinmarketcap.com – This site lists all of the relevant Cryptocurrencies and I guess many non-relevant as well, has excellent sorting options which is great. You can sort  by market cap, price, volume, supply and my favorite by 24hr change. By sorting by 24 hr change you can literally shop the sales aisle of coins that may have sold off and can see what is getting pumped on by sorting the top movers. Charts are basic and you can also check each coin to see all the exchanges its available on and see average prices so you can determine which exchange might be the cheapest. Historical data will give you a detailed list of what the pricing was on past dates, reminding you that you could have got Ripple for .005 Cents on Oct 1st 2015…O0ps!@%$^#

Youtube.com is my go to for learning and staying connected and being active in the Crypto space. There are so many excellent Youtube channels providing excellent content, education and entertainment you will want to start a play list. I’ve done much of the work for you. Click here for my Favorite YouTubers!

WWW.COINCHECKUP.COM – Another excellent website to research Cryptos, look at charts and even has a predictions page based on money flow projections as compared to other investments/stocks etc, lots of good information to do detailed research and analysis research on this site.

 

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