Absolute Beginners Guide to Buying and Selling Cryptocurrency
Hello Steemians,
By reading posts from several new users I have noticed not everyone is here for cryptocurrencies and there is many people who don't know their use and how to get into this world. For you guys, I have written this post that I think will help you if you haven't started yet and are not sure how or where to start. I was once in the same boat and have just entered this new investment.
For many of you out there still speculating on cryptocurrency and wondering if it is still late to get in, just remember people thought they were late when the price of 1 Bitcoin was $1000. There is huge potential in the cryptocurrency world and you can exploit it by investing smartly, people who invested in Bitcoin early days are possibly now millionaires or have accumulated a load of wealth. I encourage those of you who are unsure just like I was to research on google, youtube, etc. There is plenty of information available on both sides of the spectrum and decide for yourselves which path you want to take.
To buy/sell we will be using coinbase which supports three different cryptocurrencies:
- Bitcoing (BTC)
- Ethereum (ETH)
- Litecoin (LTC)
The reason I chose coinbase its due to its security and the user friendly interface where anyone who send an email would be able to buy and sell these coins. Before you can do this you will have to set up a intermediary bank and verify your details.
What follows is pretty self explanatory.
- Click on the Buy/Sell tab
- Select payment method *
- Enter the desired amount (USD or crypto)
- Click on buy instantly
*If you pay with a debit or credit card the fees are slightly higher, I suggest you transfer funds from your bank account.
As you can see it is very easy to buy and sell cryptocurrency with an easy to use website like coinbase.
If you haven't opened your account yet you will get $10 worth of digital currency when a friend buys or sells $100 or more, and you'll both earn $10 of bitcoin. Start out by using the following link
https://www.coinbase.com/join/5a14e0e0653749012b1e7a9a
Coinbase however doesn't support every country especially in South America where I am from (Peru) so there is different ways of purchasing cryptocurrency which I will cover in a later post.
Nice post @conner320. Hopefully more services like Coinbase will come along. I wish Coinbase supported Musicoin directly. The big news for Musicoin is that Russia's IPChain announced their intention to work with them. Check out Musicoin's address to the forum here:
It was part of this panel which more info is on this post:
And when you have your crypto, how will you spend it?
https://steemit.com/bitcoin/@xsid/connecting-crypto-to-the-mainstream-tenx-pay-spotlight
I absolutely love the idea of TenX, it is a bridges the gap between cryptocurrency and being able to spend it in the real world. The more transaction volume there is, the more valuable their tokens will be!
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