The Bitcoin train is leaving the station, or it has been leaving the station for the past few years. There is still time to get smart about making bank on Bitcoin and a few other cryptos. I have some recommendations you might like to consider, exchanges you can trust for purchasing and places or devices to store your crypto securely. I’m also going to list some information sites I use to get the latest news.
First, don’t be put off by the price of Bitcoin. You just need a piece, just like you don’t buy an entire gold bar. I buy a small amount of Bitcoin every week no matter what the price is. This is called “dollar cost averaging” and is the best way to get into building a portfolio. I use Coinbase and Gemini Exchange to purchase crypto. Mostly Gemini because they are cheaper than Coinbase. But I keep some of my crypto on Coinbase because of their security. I also use a Trezor hardware wallet to keep the majority of my Bitcoin safe. With a Trezor, my Bitcoin is my business and can be transported anywhere in the world if needed. Try that with a large amount of fiat currency, you’ll either be arrested or your money confiscated or both. And forget about gold, it’s too heavy.
The only other exchange I would recommend is Binance and that’s mainly for the huge selection of cryptocurrency available to purchase. Again, you will need a secure place to keep your coin as exchanges can be hacked. I suggest Trezor or Ledger. There are other hardware wallets out there just as good as these, but I have used both and can vouch for them.
Next you need some knowledge. Here are just a few websites to check out. You can join their mailing lists for updated news in your email. Check out FiatLeak for quick graphic info including BTC price.
CoinTelegraph, Coindesk, CoinMarketCap, Simple Bitcoin Converter, Cryptocurrencytalk.com, and for general news CCN. These sites will get you on the right track to learn and find more relevant information concerning the world of cryptocurrency.
This is the official original Bitcoin website: Bitcoin.org. Not to be confused with some of the offshoots of BTC like Bitcoin Cash or Bitcoin Gold. For you tech heads out there, you might consider operating a Bitcoin Full Node to allow Bitcoin to grow and stay decentralized. I am already running a Bitcoin Full node on an extra computer I have and I am currently in the process of ordering parts to build my own Bitcoin Lightning node. This will allow me to be part of the Bitcoin Lightning community and will allow me to send and receive my own transactions without using any exchanges. If you are interested in more information on this, check out this article at Decrypt.co: How to build a Bitcoin Lightning node for just $150
Now you have some information to get started in this new world. This is the future and you need to get with the program.