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Thread: Best Way to Buy Crypto?

  1. #1

    Best Way to Buy Crypto?

    Everybody is getting into the game. Paypal, Robinhood...

    How do you buy crypto?
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  3. #2
    Coinbase is still pretty good, I think..

    But like gold, you don't really own it if you don't have it in your possession, in this case the private key.. exchanges are good for buying, selling and trading.

    I recommend an encrypted wallet. Ledger Nano _ or a Trezor are both used for longer term "cold" storage of larger amounts. If you are looking for a wallet that is easier to spend from, typically containing smaller amounts of crypto, they are called "hot" wallets.

    If you get a cold storage wallet, you are going to want to buy it and set it up and practice with it for a while using small amounts first. Do NOT lose your passphrases, and keep them somewhere safe like in a bolted down fire proof safe.
    Last edited by dannno; 02-19-2021 at 01:40 AM.
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  4. #3
    This site has a thorough overview
    Last edited by The Northbreather; 02-19-2021 at 08:45 AM.

  5. #4
    Coinbase, Kraken, Bitstamp, Gemini.

    Open accounts on all exchanges as some may take time to validate your KYC.

    Wire USD.

    Buy Bitcoin.

    Once you are in.

    Do your homework. Watch How To. Watch Youtube videos. I advice Saylor for macro stuff.

    I use a Nano ledger S bought from Amazon. practice with it. It is not hard but without it you are a slave to exchanges. Ledger Live App is nice. You need the hardware wallet to sign transactions.

    If you put any serious amount of money. avoid alts, they will crash hard.

    If you buy Bitcoin. Be ready to wait 4 years. HODL 4 years MINIMUM. And then assess the landscape. We will probably be at 400k after next halving in 2024.

  6. #5
    i haven't sold much and I am hodling since 2013.

    I will probably find a bank and make a loan with Bitcoin as collateral when things get truly mainstream.

    We need 4 more years for that.

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