BUYING CRYPTO CURRENCY
So, I am sure you have probably heard about Bitcoin by this point. If not — well you should have. Why? Well because it’s only went from about $2,000 to $4,000 in a month. Try that with a stock?! (Smile)
Well now that it’s gotten your attention, let me provide you some ways you can get into the action. Now, I will say that I have limited knowledge about the plethora of platforms that are available to interact with Crypto Currency so if I’ve missed something or incorrectly state something, let me know and I will edit. With that — let’s begin!
So the big question — WHERE AND HOW DO YOU BUY CRYPTO! For this I will focus primarily on Wallets and Exchanges. Yes you can also buy in person.
WALLETS
Coinbase (https://www.coinbase.com/join/519b573f955287701200001f). This is the most reliable wallet I know of today. It supports only 3 Crypto Currencies: $BTC, $ETH, $LTC. There is currently a petition for them to include $XRP. (Link to coinbase is a referral link where once you fund your account with $100 — you get $10 and I get $10) Coinbase is one of the wallets where you can actually buy currency as well as hold currency.
JAXX (www.jaxxio.com). This wallet ranks very high and have a great support team behind it. It supports multiple currencies: $BTC ,$ETH, $DASH, $ETC, $REP, $LTC, $ZEC, $DGE, $ICN, $GNT, $DGD, $BCAP, $CVC, and $STX. Also it have an easy to use interface. Unfortunately you can only transfer assets to this wallet you can’t purchase with it.
*Exodus (www.exodus.io). While this is Windows, Mac and Linux only — it still looks like an amazing Wallet. It supports the following currencies: $BTC, $ETH, $LTC, $DASH, $ANT, $AUGAR, $GNOSIS, $DGE, $GNT, $REP, $POS, $DCR. Unfortunately you can only transfer assets to this wallet you can’t purchase with it.
EXCHANGES
*GDAX (www.gdax.com). This is Coinbase’s Exchange but you do not have to have a Coinbase account to use. While I have not personally used this platform I am in the process of shifting from Kraken to it; more on that in another post. Trading fees are reasonable but to avoid them — always place orders as the maker not the taker. If you are making withdrawals or deposits, there are no fees unless you are using Wire process. Support: $BTC, $ETH, $LTC
*KRAKEN (www.kraken.com). I currently use this exchange. First step is to get verified up to Tier 3 at least. They use a third party company to move funds from US bank accounts and this can present some challenges. They charge fees on both sides as the maker and taker; one of the reasons for the shift for me. Support Multiple: $BTC, $ETH, $LTC, $DASH, $GNO, $ICN, $REP, $POS, $DCR, $XLM, $XMR, $XRP
*GEMINI (www.gemini.com). If you know the Winklevoss twins then you know GEMINI. This is another platform I’ve not used but is on par with GDAX. They do charge fees and it can be a bit complex. Support: $BTC, $ETH, $LTC
A great platform to do more research — will be www.CryptoCompare.com. In addition, if you’d like to find out where you can purchase almost any Crypto Asset, you should check out www.coinmarketcap.com.
I’ve spoken with a few young entrepreneurs who are not yet 18 and they were interested to invest in Crypto Assets. However, it appears platforms are held to regulation and due to those under 18 not being able to open Checking accounts, blocks them from participating.
I don’t know 100% but I’d say because bitcoin can be shared person to person — I’d advise them to use www.localbitcoins.com or find someone they trust who can purchase BTC for them and then transfer to a wallet they own like Jaxx or Exodus; could pay a bit higher rate.
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