How Do I Purchase My First Cryptocurrency?
This is a popular question amongst the population “How do I purchase my first cryptocurrency?” at this point in time. The second most asked question is which cryptocurrency do I purchase? These are very important questions. Everywhere I go lately I hear people talking about Bitcoin or cryptocurrency. You can feel the vibe in the air, there is change about and its actually changing for the better.
“[Bitcoin] is a remarkable cryptographic achievement… The ability to create something which is not duplicable in the digital world has enormous value…Lot’s of people will build businesses on top of that.” [Source: Newsbtc.com]
~ Eric Schmidt
In this blog we thought we would cover how to purchase your first crypto, this is the single most important and basic step to start you off on your crypto journey. Now lets be honest here, there are plenty of dodgy exchanges out there that will take your money but make it hard to withdraw your money back out. So be careful out there and ONLY use an exchange that is well known. I will give you some examples below.
This whole process can be very daunting for many people, you are not alone here! There are billions of people in the same boat!! Changing from the “fiat” money system to the new “cryptocurrency” is a HUGE step for most to even understand!! People think money just keeps being printed and thats the end of that, wrong!! Our currency money system is centralised and very broken!! Hence why we have cryptocurrency, its here to save the people from total enslavement!!
Read More here – The End of Traditional Banks
“Not knowing your stuff could seriously damage your current wealth”
~ Niall Ferguson
A great history lesson on money to watch is “The Accent of Money” by Niall Ferguson – Niall Explains it all very well, you’ll need a coffee and a biscuit 🙂 Check out the first video in the series below:
How do I Purchase My First Cryptocurrency?
1) Register Account with one of these trusted providers
Please note: To always save the website to your browser favourites to ensure you always have the correct website – There are phishing scams out there – Simply – Always check your domain name is ALWAYS correct before handing over personal details.
2) Setup 2FA – (Two-Factor Authentication)
This allows you to secure your account beyond just a password, this allows you to only access your account with your phone and access to internet browser.
3) Transfer your fiat money into your trading account, coin jar, coinspot etc
N/A for Coinbase they use credit card or debit card – Some allow you to use bpay
Please note: Please always start with a small amount to get you started
4. The next step is to convert your fiat into cryptocurrency coins. You can do this on exchanges that you used to transfer fist or transfer to an exchange like bittrex or binance….
The next question is to ask, what coins to I purchase?
This is the question we answer in our membership, however watch out for our blog next week and we will give away 2 coins that we believe still have room for growth, stay tuned.
As part of our membership we give you detailed “Coin Reports”, more info here We issue reports every month and we also give you basic crypto education to help you get started on your crypto journey.
Thanks for reading this far and if you enjoyed this article and it helped you please share with your family and friends.