We all need to start somewhere right? I will never advocate trading to anyone when they first start. And later on I may start giving some basic trading tips but not yet. With that said I want to go over some great places to get started investing into your future. Some websites and apps are better than others so mileage may vary per user. These are all sites and apps I use currently or have used in the past and vouch for their services.
I will try and provide as much detail as I can without getting boring, especially when they mostly speak for themselves.
BuyBSV would probably be the first place I would recommend for purchasing BitcoinSV (BSV). Reason is exceptional service and ease of use.
BuyBSV also has a clean and very easy to use interface. Giving details of everything that is done. Very fluid and painless.
To summarize, BuyBSV has a very easy to use interface for entry level Bitcoin purchases. It had and intuitive layout and design that's simple and to the point.
Coinbase would probably be the first place I would recommend for a first timer. Reason is you are exposed to several different coins to choose from, exceptional service, ease of use and US based so it fits in with all US regulations needed to operate.
With Coinbase you also get the option to do automatic recurrent transfers from a bank account to your CB account. This allows you to deposit, say, $25 usd/week or whatever you decide into your account at a steady pace. This is a great way to DCA (dollar cost average).
Coinbase also has a clean and very easy to use interface. Giving details of everything that is done. Selecting accounts is fluid and painless.
The account section gives great easy to understand details of every transaction you make, allowing you to control and understand all aspects of your financial assets.
To summarize, Coinbase is a very easy to use interface for entry level crypto currency purchases. It had and intuitive layout and design that's simple and to the point. Has great features such as automatic recurring transfers. Coinbase also has a function called the vault. This adds an extra layer of security to your crypto that forces a time limit before any actions can be taken. It also sends out alerts to your email to confirm the transaction. This is a great feature to help secure you precious assets. Note: Coinbase does offer coinbasepro which is an advanced exchange where you can trade different asset classes. This is for the more advanced users.
But the ones offered are some of the top coins available with a proven track record and use case, making them one of the better assets to acquire. Gemini has vetted them and ensured there risk vs. reward ratio. Now understand all crypto is a volatile and unpredictable market so nothing is guaranteed. The twins have put a lot of effort into Gemini. It is easy to use, very fluid and dynamic. You can, like Coinbase, setup recurrent transfers set to your choice.
To summarize, I have been using Gemini off and on since it launched and it is only getting better with each update. I would not shy away for one second offering up Gemini as a solution to get into crypto. It is also, like coinbase, a way to go from basic to advance real quick by using there advanced exchange services, offering trading of different coin pairs. But again, this is for advanced users so please proceed with caution.
Now we are going to start getting into the wallets, this is where you can store your assets, one of any ways. A good wallet should not be taken lightly as once your money is there, usually, its up to you in all cases to maintain control. The wallets I have listed I trust, are advanced and offer many solutions.
Just so you know there are different ways of storing your coins.
Custodial, on an exchange like those I have listed. But there is a chance an exchange gets hacked and you lose your money.
Digital wallet. These are as secure as you make them. You will be given a key or pass phrase. This is how you access your funds. If you lose the key or phrase your money is gone. That simple.
Hard wallet, these are a bit more advanced and I will get a section up soon. With these you transfer your coins to a device like a ledger, not much bigger than a USB drive, some are bigger, smaller, skinny or thick. Once they are on the hard wallet they are secure and can only be accessed using your key. Again, you lose your key you lose your money.
Cold wallet/ Paper wallet. The most secure, the key is written on a piece of paper, etched on metal or another way that ensures it is physical and can not be attached to the internet or any electronic device. These are secured in a safe, safety deposit box, buried in the back yard etc. It is also one of the easiest to lose, so be careful.
CashApp is owned by Jack Dorsey, the founder of Twitter. Jack is a avid bitcoin supporter and has not been scared of saying so. To that point Jack has added the ability to buy, sell and transfer bitcoin directly within the app. Now the app is a hybrid of a wallet and exchange, sort of. While not as advanced as the other wallets it does allow storage and some security. Due to its easy of use, not having the app on your phone, just because, is a no brainier. Yes the app does have its limitations, but if you want to just buy bitcoin and hold and use your bank account and debit card all within the same ecosystem this is the one to use.
My favorite pick of wallets out there. Trust wallet is now owned by the largest crypto exchange out right now, Binance. While Binance has removed the ability to trade in the US it has found a loop hole. Using their Binance Dex platform, this is a decentralized exchange which means there is no middle custodial party like the regular Binance thus making it hard to censor various countries due to being straight peer to peer, you can trade various coins directly inside the wallet.
There are many other advanced features directly inside the wallet but most I will not touch on. I will like to elaborate though, the wallet and your funds are secured solely by you. Do not loose your authentication method as recovery could be impossible.
Trust wallet is a multi-currency wallet, meaning you can store many different types of crypto on the wallet, each with its own authentication if wanted on stored under on single pass phrase.
I would highly recommend using Trust wallet to store you assets. I use it for mine almost exclusively and have never had any issues. On top of that the customer support is amazing and they are very active on social media like Twitter.
With this wallet you also have the ability to buy various coins directly within the app, eliminating the need to buy on an exchange and transfer to the wallet. This is a great feature making coming into the space even easier.
Last but certainly not least,
Freewallet has been around for a long time and is one of the more respected and trusted wallets out. I have used it off and on for a long time. Due to its easy of use, great UI and ability to buy or swap directly within the wallet makes this a definite winner.
Freewallet, like Trust wallet, is a multi-currency wallet. Allowing you to store multiple different assets on one wallet. The convenience speaks for itself.
Again, there are many advance features I will not get into on this post. With that this wallet is one to have around and would recommend it right next to Trust wallet.
It is important to note most if not all, except for CashApp I believe allow you to connect a hard wallet to transfer your coins to if needed, and I do recommend it, but we can get to that later. Right now I would recommend looking through the websites, get familiar with the apps and sites. Setup some accounts, get verified and just see what fits. There are many more to choose from but these are the ones, like I said, I am most familiar with and make the transition smooth as butter.
Enjoy and please email with any questions or concerns you have concerning this post. I know it may seem a bit complex but once you are using them its not so bad, but weither way I am here if you need me.
Good luck and have some fun!