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RE: Brief Guide to Buying Bitcoin - Advice from a Long Time Buyer
I always recommend that newbies start with a central exchange in order to become familiar with Bitcoin in a low-risk environment. It is convenient, even though it goes against the Bitcoin philosophy of decentralization.
Once someone is familiar with Bitcoin, wallets, etc. I suggest networking in a meetup group to keep these transactions "off the books."
Looking forward to more of these articles, we need more people sharing their forays into crypto.
It might be feasible still buy on Coinbase in small amounts like $10 per week worth of cryptocurrency, then once a year you realize the long term gain, allow Coinbase to calculate your capital gain tax, and when you sell you don’t sell but move it to (ahem) “someone else’s “ off line wallet from which they “never spend.” The advantage is you are in a safe environment when you buy (2FA), no one mugging you at a coffee shop, and unlike a BTM the fees for buying are very low. I move my cryptocurrency first to GDAX and then from GDAX I “withdraw” to offline Segwit wallet. Then I allow Coinbase to calculate the tax.