This guide is to help you get started no matter your current knowledge on the topic.
No Better Time than Now!
Whether you’re only just now starting to learn about cryptocurrency or you’ve been watching from the outside for what feels like too long, don’t worry! No, you didn’t miss an opportunity and you’re certainly not too late to get moving. On this page, we’re going to walk you through what’s needed for you to start making real money through cryptocurrencies like bitcoin.
The first step? Sign up for Bitconnect [CLICK HERE ]
Create your (free) account on Bitconnect, which is necessary for you to store, invest, and profit with bitcoins. Once your account has been created, follow the rest of this guide.
Seriously, if you haven’t followed the link above and set your account up with Bitconnect, it’s pretty important that you do so now so you don’t get distracted from it later on. Got it? Good! Let’s continue.
Now, turn off all distractions and really dedicate the next few minutes to reading this guide. Especially if you’re new to bitcoin and you’re ready to really make some cash, turn everything off so you can focus. Put your phone in airplane mode, shut down social media windows, turn off the TV. Don’t worry, it won’t be long. Pour yourself a glass of your favorite beverage. Comfortable? Good. Moving on!
Note: If you are super new to cryptocurrencies and specifically bitcoin, head over to our YouTube channel and check out our Getting Started video by clicking here . It’s only a couple minutes and lays the foundation out really well. Also make sure to subscribe while you’re there to be up to date on our latest and greatest investment and reinvestment findings!
So to get started, there are a few things that you just need to know. Period. We will be discussing those right here and now for you.
Basics of Cryptocurrency
You’ve probably already heard about just how widespread cryptocurrency has gotten these days and it’s to a point where you can even buy real estate with it! Electronic currencies have made a huge splash in the financial world and are reshaping the way many of us view things like monetary value, banking systems, investment, and more. And since the implications here are that cryptocurrencies are far reaching (they are), you’re making an excellent decision to start using them as electronic moneys are only going to become more and more prevalent in our lifetimes.
First and foremost, there are a number of problems with the way countries currently handle money. Cryptocurrencies help get around those issues by:
● Being available to anyone, anywhere
● Powered by Blockchain Technology (behind the scenes technical stuff)
● Currency has no boundaries, municipal, or commercial entities controlling it
○ A truly decentralized monetary system
● Every transaction verified by a worldwide network of computers
● Global ledger available to everyone (!)
● Maximum circulation is not only fixed, but that data is available to the public
● Platform ran on open source software
Because of everything mentioned above, there are some incredible benefits to cryptocurrency. These include:
● No need for banks or financial institutions – stop getting ripped off by fees!
● Super-fast transactions across the globe are free to use
● Copying or cloning your credit card is a thing of the past
● Since currency is digital-only, fraud isn’t possible
● Everything you do with crypto is anonymous – nobody knows how much you have but you
● You can keep any amount of cryptocurrency without incurring fees
As a financial system, cryptocurrencies don’t have inherent biases nor are they available only to certain sects of the population. Bank fees aren’t going to make anyone lose (or go negative) with this money, either. This secure financial system is here for anyone anywhere to use, and it’s secure and self-regulating. It truly is an amazing system to become a part of.
Your First Steps
Well, technically, your second steps since you already created your Bitconnect account (RIGHT?!). So imagine what your life would be like if you didn’t have to rely on banks. What would you have (other than a bunch of cash left over from fees they’ve been reaming you with)? It’d just be you and your money for you to use as you please. And you would carry that money around with a wallet – and that’s all that’s needed to start your Cryptocurrency life – a wallet. More specifically a crypto wallet.
What is a Cryptocurrency Wallet?
Just like it sounds – it is a place to store your digital crypto ‘cash’. However, where it differs from your real life purse or wallet is that your crypto wallet will have a unique address assigned to it. This address can be used for people to put money right into it. Likewise, when you want to pay for something using cryptocurrency, all you need is the other person’s wallet address.
If you donated to give transactions a try, thanks!!
The long, weird looking alphanumeric thing above is our wallet address. The QR code is there to make things easier on those who are on their smartphones so they can just scan it and send money that way. While we obviously love seeing small donations come in so we can keep this site alive and kicking, the above is also a great example of everything you’d ever need to send crypto to a friend or pay for goods or services.
How Can I Get a Wallet?
IF you have created your account through the link I posted above to Bitconnect, you already have a wallet! (See why I said you had to start there, now!?). You’ll find your wallet right inside your Bitconnect account. If you haven’t seen it yet – feel free to go check it out right now. Otherwise, you’ll see it as soon as you start converting your national currencies to bitcoin.
To get started with changing your current currencies (dollars, pounds, yen, whatever) to cryptocurrencies, Coinbase is an excellent place to start (they’ll also give you a wallet, but Bitconnect is much better for investment purposes).
How Can I Turn Crypto Back into “Regular” Money?
It’s pretty easy, actually. All you need to do is exchange it like you would any other foreign currency. There will be a small, usually negligible, trading fee and you’ll get your traditional money back right then and there. One of the simplest ways to invest is to just buy a small, fixed amount of bitcoin and leave it in the wallet for a few months – some early adopters have even become extravagantly wealthy using that as an investment model.
So Can I Start Investing Now?
Yes, absolutely. Head to Coinbase.com , setup your account there, and buy bitcoin. To start with Bitconnect, you just need $100 (USD) worth of bitcoin, so make sure to put at least that much in with Coinbase. (Note: If you’re looking to invest $1,000 usd or more, go with Bitstamp.net – they have fewer restrictions for large-dollar transactions on newly-created accounts) From there, send your bitcoins from your Coinbase (or Bitstamp) wallet to your Bitconnect wallet.
Got your bitcoins in your Bitconnect wallet now? Excellent! Now it’s time to take a look at our Bitconnect Guide!