Day 2

Of our cryptocurrency project! Today we are covering how to actually get your hands on some bitcoin! If you want to get involved with cryptocurrencies you will need a wallet (Wallet Intro here) first. Next a place to obtain cryptocurrencies. A cryptocurrency exchange for example. Although there are a few different options for obtaining cryptos. We are going to discuss some of the ways you can purchase cryptos.

Buying Bitcoin Online With A Credit Card

One of the quickest and easiest ways to buy bitcoins is instantly with a Visa or MasterCard on Coinbase.com

Buying with Credit or Debit Cards

• Coinbase.com MasterCard & Visa
• abra.com American express

Pros	Cons
Fast	Higher Fees
Easy	Higher Risk of Fraud
Convenient	Less Privacy

I signed up for both. They both have online wallets. Both companies have a mobile app which also acts as a convenient mobile wallet. Just keep in mind the safest place to store cryptocurrency is offline in a cold storage device.

Buying Bitcoin with a Bank Account

When buying large amounts of bitcoin you can link your bank account to a cryptocurrency exchange such as coinbase.com.

Bitcoin & Altcoin Exchanges

• Coinbase
• Bittrex

Pros	Cons
Lower Fees	Slower
Lower risk	Often ID and other proofs of identification are required
Best for moving large sums	Never keep your money in exchanges

Just remember to only store what your willing to loose onto a crypto exchange and the rest in a cold wallet offline. Exchanges have shut down and been hacked in the past with peoples currencies in them. While the crypto world is exciting its still in its infancy. There are no laws in place to recover your funds if this happens. Choose reputable exchanges to trade your cryptocurrency.

so at first i tried to purchase bitcoins without using my bank account or debit card. There are places you can exchange amazon gift cards for bitcoin but the fees where very high. Instead i just went ahead and linked my bank account to coinbase. It will take a day or so to verify but once it is i will be ready to invest and trade in cryptocurrencies!



What an exciting time to be alive!!

Thanks for tuning in again guys. I will check in tomorrow with the next steps into the crypto world!! Let me know what you guys think so far and if you have any questions or suggestions. I'd love the feedback!

-Spacebird89

Coinbase exchange link: https://www.coinbase.com/join/5a1a1cec2a71c6011af8f077