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RE: To everyone who complained about being too late to the Steem party

in #steem6 years ago (edited)

I would very much like to invest a small amount of fiat into SP. I have learned a lot about blockchain and cryptocurency since joining steemit, but I am completely new to actually investing in cryptocurency and am not really sure where to start.. If someone knowledgeable could point me in the right direction as far as an exchange I can turn fiat into steem, and pehaps some advice on a good crypto to keep on hand, I would greatly appreciate it!

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The first thing you want to do is buy Bitcoin or any of the other big coins directly with fiat. The process for doing this the easiest way depends a bit on where in the world you are located, but I have been using https://localbitcoins.com/ to get mine. Just look for a trader with a good reputation on that site. There are also other options to buy directly from exchanges, but that again depends on where you live and what payment method you prefer.

Once you have Bitcoin or another crypto, go to your favorite exchange that trade Steem. Mine is Binance. Deposit your BTC to you account, trade it for Steem, then withdraw the Steem to your Steem account.

It's a bit much to do, but it's actually pretty easy once you get into it :)

This might not have been the best explanation, so feel free to ask questions if you got any!

Thank you for the explanation, it is much appreciated! I live in the US if that makes a difference, but otherwise you have given me a good place to start so again thanks! :)

You're welcome. I'm not based in the US myself, so I don't know what the cheapest or easiest way to get Bitcoin is over there. But I think there are lots of US sellers on Localbitcoins.

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