Start Trading Crypto
Here you will find basic instructions for purchasing and trading cryptocurrencies.
1. Open a Dedicated Bank Account
Having a dedicated account is a safety measure to maintain the integrity of both your personal accounts and your trade accounts. It will also make it easier to track your finances. If possible, request a liquid assets account from your bank to minimize bank fees and regulations.
2. Open an Account with Coinbase
Coinbase is a simple access point to cryptocurrency trading. It will take several days to validate your account, including the confirmation of several small transactions into your new account. From this platform, you can purchase bitcoin, litecoin, etherium and a small host of other popular cryptocurrencies. .
3. Download a Digital Wallet
We recommend using Atomic Wallet or Trust Wallet. Both wallets are simple, intuitive, and streamlined. From these platforms, you can also purchase cryptocurrencies with a Credit Card.
4. Open an Exchange Account
Open an account at one of the exchanges listed on our Crypto Links Page.
From these exchanges you can trade various currency pairs and obtain currencies that may not be listed in mainstream venues such as Coinbase. Most of these exchanges also provide tools necessary for day trading and swing trading.
- Most crypto trading occurs with people trading currencies against bitcoin, trading currencies against ethereum, and trading against the US dollar. Trading against the US dollar involves taking profits in the form of Tether (USDT) or some other stable coin tied to the price of the US dollar.
- Most exchanges are now required to follow KYC (know-your-customer) protocols. This means that you will have to furnish proof of your identity. Be prepared to supply either a copy/scan of your drivers license or passport, as well as a current photo of yourself holding your ID.
- Always store your cryptocurrencies off-exchange in cold-wallet storage.
- Do not store passwords or security phrases in digital format. Keep all sensitive data in written form, with multiple backups, secure in a safe location.
- Keep multiple backups of all digital wallet files.
- Research the market and coin that you want to invest in, prior to taking action. Investing in cryptocurrencies is very high-risk.
- Remain informed and up-to-date on the currencies you have invested in. Critical changes to infrastructure may require software updates on your end.
- Remember: your funds are in your hands and are your responsibility. If you lose them through negligence or fail to make back-ups of your keys and passwords, your funds may be unrecoverable.
It’s not how much money you make, but how much money you keep, how hard it works for you, and how many generations you keep it for.
Opportunity is missed by most people because it is dressed in overalls and looks like work.