Everything You Need to Know About Earning with Cryptocurrencies | The Ultimate Guide for Noobs

 I'm not an expert. I don't claim to be. Don't take mine (or anyone's) word for it. Do your own research. This is my personal strategy for earning passive money with Cryptocurrencies. 

 Ok, so now that's out of the way, let's get down to business. Before we can begin trading, we first need to know how to buy Bitcoin and how to trade it and, more importantly, how to safely store it. 

 Buying CryptoCurrencies

 Regardless of whether you want to trade in Bitcoin, or another CryptoCurrency, it's easier to purchase Bitcoin with your Pounds, Dollars (whatever) and exchange that into your chosen currency later.

There are literally hundreds of sites claiming to make buying BTC "painless" and "easy" however, the vast majority of those have ridiculous hidden fees and terrible exchange rates.

The site I have been using for all of my Bitcoin buying/selling is LocalBitcoin. There are literally thousands of concurrent sellers online at all times. 

 It's as simple as clicking on a seller, entering the number of Bitcoins you would like to buy, sending the payment via your chosen payment method, and then the seller will release the funds from Escrow to your bank account.

The whole process takes no more than 90 minutes and is 100% safe, due to LocalBTC's escrow system. The Bitcoin gets taken out of the seller's account as soon as you start the trade, and sent to you as soon as you pay.

Where to Trade Cryptocurrencies

Bittrex is by far my favourite exchange (Although it looks like someone from BHW made their LP) having a stable volume, and allowing you to withdraw up to $50,000/day (With a verified account, you can withdraw up to 1 BTC/day without verifying your account)

It's worth noting that not all exchanges have the same currencies, and some are much better for selling/buying certain currencies. Coinmarketcap's 24 Hour Volume Ranking page is ideal for picking an exchange to trade on.

It's a good idea to spread your portfolio around multiple exchanges, in case one halts trading or goes offline.

How to (Safely) Store Cryptocurrencies

There are many ways you can store your currencies, however, many of them aren't recommended.

I guarantee that most people who begin trading Crypto just take one look at the exchange they are using and think "cool, they have a built-in wallet for me" DON'T keep all of your money in exchanges. That is the worst thing you can do. However, be smart about it. Don't withdraw money every time you make $5, you're going to lose too much money on withdrawal fees. Just withdraw it every time you earn an amount you can't afford to lose without missing.

Creating an online wallet (For example, Blockchain.info ) Is my preferred method of storing Cryptocurrencies. You aren't relying on a hard drive or piece of paper (I actually lost a week's earnings when a brand new SSD failed on me) and you can easily access the same account across multiple devices.

2FA, Touch ID, SMS Texts etc are all security features you can use to ensure the safety of your wallet. However, don't forget to make sure your email account is also secure.

It is possible to store your Cryptocurrencies in a Paper Wallet, however, that is incredibly impractical and, while it prevents the possibility of an exit-scam or hack, leaves all of your money susceptible to a fire, rip, etc. You don't want that.