Cryptocurrency Acquisition Basics

Cryptocurrency Investing – Getting Started – Part 1 – Cryptocurrency Acquisition Basics

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Cryptocurrency Investing – Getting Started – Part 1 – Cryptocurrency Acquisition Basics

Here is some guidance from me for getting started with cryptocurrency investing.

Part 1 – Cryptocurrency Acquisition Basics

1
Theoretical Acquisition
From its inception, the way to acquire cryptos was to earn them by mining. This approach is not relevant to most people, though.
The easiest way to acquire cryptos is to receive them as a transfer from someone who already has them.

2
Practical Acquisition (Buying)
There are many ways to acquire cryptos from fiat currency, such as USD.

2a
Research and Find an Exchange
The most common way is to purchase cryptos on an exchange. There are two major considerations: safety and fees. For safety, it is best to use reputable exchanges and to quickly transfer your cryptos off the exchange to your personal wallet. For fees, shop around. I have found a way to buy cryptos with zero fees.
I suggest Coinbase. It is fully functional in USA. To see how well your country is supported, try https://www.coinbase.com/places To get cryptos from USD, the option to Buy must be present.
If you decide you want to use Coinbase, you can sign up on your own or use my referral link https://www.coinbase.com/join/diener_t1. If you use my referral link and purchase using their standard method with fees at least 1%, then you and I will both receive a US$10 bonus.

2b
Fund the Exchange
There are options to buy cryptos quickly, such as using a credit card, which bypass this step. These options can be quick and convenient, but also costly.
I found a way to fund your Coinbase account with no charge. Contact me for details when you’re ready.

2c
Buy
I found a way to buy cryptos from the USD in my Coinbase account with zero transaction fees. This approach is in wide usage, but indirect and not easy to find. Contact me for details when you’re ready. I suggest buying using limit orders rather than market orders. A good exchange will offer the ability to place limit orders.

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