CHAPTER 3 Buying Bitcoin Buying Bitcoin is very different from buying a traditional currency. It’ll probably feel pretty alien at first. But fear not: I’m here to walk you through everything you need. Let’s dive in, and see where we’re going to buy bit coin and store bit coin. Introducing Coinbase – your first stop in your crypto journey Coinbase is an American company that provides an easy to use service for buying and selling bitcoin. The company was founded in 2012 and serves over 30 regions around the world and is one of the most trusted sites in the Crypto space. It’s one of the easiest ways to buy bitcoin. Coinbase lets you buy bitcoin by letting you connect your bank account, credit or debit card to your Coinbase account and lets you purchase the same as someone would buy something on a site like Amazon. You can also use Coinbase to sell your bitcoin back into GBP. However, there are a few easier ways for a UK resident to do this outside of Coinbase. I’ll cover these in the future. Doing this is easy, I promise. You’ll need your driving license or passport to hand (so Coinbase can verify you are who you say you are, just like a bank would). But before we get you online, I’d like you to decide how much you want to invest to start with. I’d advise keeping things really small to begin with, while you’re learning. If that means £50, that’s fine! In my video I buy £10 of bit coin, so you really can go as small as you want. Don’t overstretch yourself; you want to enjoy this! Trading crypto currencies is thrilling, and can be hugely profitable. It can also bite you on the backside. The main thing at this stage is feeling your way round this new world and getting used to how it all works.
And doing that when you’re risking £20 or £50 or £100 takes the pressure off. Okay. Ready to watch me buy some bitcoin? Great! Let’s get started. Tutorial 1 – Buying Your First Bitcoin Just type in this link (I’ve also sent you this link in your welcome email if you’d prefer to call that up and click through from there): https://vimeo.com/254936933/9ae456a039 And you’ll arrive at this page: Follow the video, and you’ll: - Have an online wallet and - Be the proud owner of some Bitcoin! Welcome to the club! If you have any questions AT ALL, drop me a line on the Crypto Hotwire page.