Hello,
Below is my beginners guide to Crypto.
Step1: Understanding Crypto
There are several videos online that explain what crypto currencies are.. Take a look at the one below.
Bitcoin: How Cryptocurrencies Work
**KICK TIP: I've noticed that the information sinks in better depending on who is explaining it. If this one isn't clear to you, feel free to search for another. **
Step 2: Sign up for the below exchanges
There are tons of exchanges. But below I've listed the main ones that i use. I suggest enrolling in all of the ones below because different exchanges carry different coins.
Coinbase
The most popular exchange because you can buy crypto using your bank account.
https://www.coinbase.com/join/59245062ccc84a08af0dbef0
Bittrex
Tons of coins but you can't buy directly with your bank account. You will need to send Bitcoin or Ethereum you have purchased from coinbase to Bittrex and then exchange them for other coins. Sounds complicated and scary at first but its very easy. (This also applies to Binance and most exchanges...for now)
https://bittrex.com/home/markets
Binance
Chinese exchange with a lot of coins. Most of the Chinese coins are on this exchange (This will make sense to you as the more you learn about China and their laws)
https://www.binance.com/?ref=23106822
Gemini
Created by the twins from Facebook and is based in NYC
https://exchange.gemini.com/
There are more exchanges out there but these are very solid. However, some exchanges have been hacked before. For security reasons, some people after buying their coins, send them to a hardware wallet (cold storage). Basically, they keep the currencies off the markets and put them back in when they are ready to make a trade. There are different types of wallets and they don't support all of the coins. I have the Ledger Nano S. I hold coins in there that i plan on holding on to for the long run. I highly suggest to purchase these wallets from trusted websites.
Ledger Nano S
https://www.ledgerwallet.com/products/ledger-nano-s?gclid=EAIaIQobChMIoqnRkP6F2wIVhYizCh2foQzmEAAYASAAEgJVS_D_BwE
KICK TIP: ONLY SPEND MONEY THAT YOU CAN AFFORD TO LOOSE!
Be smart. Don't be greedy. Leave all emotions out of it. Be like Sub-Zero from MK...cold as ice!
Step 3: Researching the coins
This will take effort and time. You want to know what you are investing in. When doing this, make sure you get your information from multiple sources because some people are paid to promote certain coins. I've listed a few sources that i use to make my decisions when it comes to the market. A lot of these videos are long according to today's standards (5 min - 30 min). But they are better to watch than your favorite show on Netflix because you will actually be learning something that can effect your future in a big way.
GET CRYPTO RICH! POOR MAN’S GUIDE TO CRYPTO RICHES
Watch This Video Every Time The Market Goes Down
KICK TIP: I usually watch these at 1.25x speed.
Crypto Calendar
https://coinmarketcal.com/
Cryptoasset rankings & metrics
https://onchainfx.com/
Step 4: Researching more
Below are a few channels that deliver great information
Ready Set Crypto (Thorough analysis of coins)
https://www.youtube.com/channel/UCLVg3gS_lVVWhr23omBwAKg
Coin Mastery (Market updates with a very calm attitude)
https://www.youtube.com/channel/UC4nXWTjZqK4bv7feoRntSog/featured
They Call Me Dan (Market updates with a very aggressive attitude)
https://www.youtube.com/channel/UC0mGweSZMRmhBSpEjPFQByA
Crypto Daily (Market updates with a whatever attitude)
https://www.youtube.com/channel/UC67AEEecqFEc92nVvcqKdhA
Mark Chapman (Technical Analysis and tactics used to manipulate markets)
https://www.youtube.com/channel/UCG7gmvuO5rr-LIv-aXSh3qQ
TheChartGuys (Technical Analysis but not limited to crypto)
https://www.youtube.com/channel/UCnqZ2hx679DqRi6khRUNw2g
Alessio Rastani (Technical Analysis)
https://www.youtube.com/channel/UCnJjRjmthxPCoQaAL44tR6g
CRYPTOTWINS (Gains!)
https://www.youtube.com/channel/UCCLDnGJsFZ5HhX_nND00XNQ
KICK TIP: Take you time! There's a lot of information out there. At the end of the day, you are in control. Make a move only when YOU want to.
Obviously, nothing is fool proof so i suggest that you invest some time in researching for yourself. If you have any questions feel free to get in contact with me. I am not a professional and this is not financial advice. This is just my opinion and like booty holes, everyone has em. So, make your own. kbibi