My First Bitcoin Transaction

Well, it's official. I own Bitcoin, Ethereum, and Litecoin. I was hesitant at first, but was overwhelmed by the potential upside to the relative downside. Here's a few observations from someone just starting out, if you're looking to do the same.

Here are a few simple tips when buying on coinbase.com

1. You will need to connect a credit card (that allows purchase of bitcoin) or a bank account. I was not able to purchase with my chase credit card, so I had to connect my bank account and wait about a week for the coins to be deposited into my coinbase.com wallet.
2. Depending on network traffic, there is an increased fee associated with transferring money OUT of coinbase. It cost me $11 to transfer $100 USD in BTC over to Bittrex. For this reason alone, I would recommend buying Ethereum (ETH). Ethereum cost me $0.14 to transfer $300+ of Ethereum out of coinbase. It's one reason I believe Ethereum will overtake Bitcoin.
3. Coinbase locks in your purchase at the time the order is completed. So even though I bought 1 ETH at $290, it was still worth $340 a week later when I got it.
4. These wallet keys make me nervous, but I haven't had any problems yet while transferring -- just make sure you transfer like currency to like currency wallets or your money will be lost.
5. Finally, my last pointer would be to buy no less than $200 worth of any one crypto because you will pay a minimum $2.99 fee to buy. That can mean 1.5% to the "house", or it can mean substantially more (as a percentage) in smaller deposits.

Here's a screenshot of coinbase and how you set up your first "buy":

Other than the long wait times, which I find extremely annoying, the experience was relatively painless.
#takemymoney