Since I keep getting asked I thought I would put it into a basic guide to help get you started. Before I begin though please understand this is not financial advice but rather a guide to introduce you to the world of Bitcoin or Cryptocurrency investing.
Step 1 - Buying Your First Bitcoin
There are multiple ways to do it but to keep things simple I suggest you go to Coinbase.com. Here you can easily get verified and purchase the main coins with your credit card. Coins currently available for purchase: Bitcoin, Ethereum and Litecoin.
Once you have purchased your first Cryptocurrency you will have it in your wallet on Coinbase. Congratulations!
Step 2 - Buying Other Coins Using Your Bitcoin
There are a lot of great coins/projects out there which can be bought on exchanges. One of my favorites is Binance. You can sign up for free which will allow you to deposit and buy any coin on their exchange
Here you can buy most of the best coins out there at the moment. It may look daunting at the start but it's quite easy once you understand the basics. This post won't go into too much detail but you can always hit me up on Twitter @SentineliAU with any questions or if there is enough interest I will write up a step by step guide on how to use the exchange.
Step 3 (Optional) - I Just Want Passive Income
Another option which a lot of people are using is something called 1Broker.com. Here you can deposit your Bitcoin and use a cool feature that allows you to automatically copy the trades of other successful traders. An example is a trader called SaltBae who so far has made over 500% ROI this month alone. It's a great option for people wanting to sit back and follow someone who knows what they are doing.
Conclusion
The number one rule here is only put in as much as you can afford to lose or have sitting there for a long time. This takes the emotion out of trading and allows you to play the markets as long as it takes to bring you profits.
I am always happy to help and can be contacted on Twitter @SentineliAU or comment below. Happy Trading!
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