How to get started with Cryptocurrency (Bitcoin, Altcoin)


I recently decided to join the Cryptocurrency investing world and I am loving it! I could not find anything online on how to get started and I needed a couple friends to walk me through step by step in order to get started. I am going to spell it out clearly for you below so you can get the basics on how to get going in this crazy world of Bitcoin madness! I was up $200 in 24 hrs with a $500 investment. 

First you will need to set up a coinbase account. Click here or anywhere that you see the word Coinbase to get started with setting up the account.

Once you are all set with coinbase you will then need to create an account for binance exchange in order to start trading different currencies. To get started with binance click here.

Once you have a coinbase account and a binance account you can now deposit money into your BTC (Bitcoin) Wallet in coinbase. Please note that when you deposit into coinbase wallet via Bank Transfer it will take a week or so to land into your BTC (Bitcoin) Wallet. When you deposit into your coinbase wallet via credit card it will instantly show up in your BTC (Bitcoin) Wallet. I elected to do half of my first investment with a credit card so I could get started trading on binance right away then the other half with a bank transfer to buy myself 7 or so days of experience before I spent all my initial investment too quickly.

In order to get your BTC (Bitcoin) from coinbase to binance you will need to go to binance and click the funds/ deposits withdrawals tab. Go to BTC and hit deposit. Copy that BTC deposit address then open up coinbase. Go to your coinbase BTC wallet and hit send, then put the deposit address into the proper box and choose how much you want to send to binance. It will then take a little bit of time to process into binance.

Once your BTC (Bitcoin) is in binance you will be able to buy/sell other altcoins and you are good to go. Please realize that binance is only one of many exchanges that you can be using to trade. It is simply the one that I, and a lot of others prefer. Also, other exchanges may list other coins that you cannot find on binance.

I invested in Tron (TRX), Cardano (ADA), and Ripple (XRP). ***This is not a suggestion on what to invest in, just a few altcoins that I am partial to.

Good luck!


Location: United States

Comments

  1. UnknownNovember 2, 2018 at 11:56 PM

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    ReplyDelete

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