Step 1: Study The Concepts Behind Cryptocurrency First
Before starting investing in cryptocurrency it’s important to understand the basic terminology. Since you are going to invest money in it, make sure you are not bluffed just because of lack of information.
Also Read: Cryptocurrency, The Future Of Money
Step 2: Buy Your First Crypto Coin
Use your Credit Card or Bank Account to purchase Bitcoin, Ethereum, or Litecoin. Each type of coin will have a separate wallet with its own address. Coinbase and other online exchanges will manage those wallets for you.
Step 3: Start Trading On The Right Exchanges
Transfer your cryptocurrency to the place of your choice, either a digital wallet on your personal computer at home for storage or to an exchange. Typically, Coinbase will make you wait about 1 week to actually get your coins in your account after purchasing them.
Step 4: Find The Best Coins
Open an account at Bittrex for the trading cryptocurrency. Bittrex offers 100’s of coins including several with great potential to increase in the future. Copy the address and go to Coinbase or your personal wallet wherever your coins are kept and find the place to Withdraw or send. Enter the address from Bittrex that you copied and the amount you want to transfer and send it.
Step 5: Trade For More
The coin that you sent in it, once has been confirmed, should show up as a balance and you are free to trade it for Bitcoin or by any other coin on their platform. Simply search for the coin you want and you can place a BID which is an order to buy the coin of your choice.
Also Read: In Crypto We Say…!
