I am going to show you how to quickly, safely and easily invest in Cryptocurrency today.
The site I’m going to be using is the most secure and popular site found online, known as Coinbase.
What is Cryptocurrency?
Cryptocurrency is a digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank. The most popular one being Bitcoin. Cryptocurrency allows the user to have the same amount of currency regardless of their location completely ignoring currency conversion. If you have 10 Bitcoins in the UK, you have 10 Bitcoins in the US. In more recent times, we’ve seen a lot more Cryptocurrencies being born, and if you missed the opportunity to invest early in Bitcoin, now is the time to invest in others; it’s not too late. These currencies are commonly used in online transactions.
I’m going to take you through the process of getting setup on Coinbase, I’ll be skipping some of the steps that have personal information but I’ll still give you a brief description of each.
Signing Up: Once you connect to the Coinbase website, you’ll be on the landing page. If you look in the top right hand corner you’ll see the standard log in/sign up buttons. Go ahead and click on the Sign-up button, please ensure you have the things below to complete the process fully:
- Verified and Active Email Address
- Credit card, Debit card and/or Bank account
- Some sort of Photo ID. Passport/Driving License.
Once you’ve clicked the sign-up button, complete the form that you’ll be greeted with. Make sure you use the correct Email address, correct full name and a secure password. Accept the terms and conditions and click “Create Account”.
You’ll be sent a verification Email. Head over to your email address to accept this, if it hasn’t arrived yet be sure to check your spam flider or simply wait 10 minutes or so.
The Following Steps: Once you’ve completed the steps listed above, you’ll see a page like the one below this message. There’s a lot of personal information on these pages so I won’t walk you through it, however, I’ll give a short description of each step.
- Account Type: First you’ll need to select if you’re trading as an individual or a business. If this is your first time investing in crypto currency then you’ll want to select individual.
- Phone: You’ll then want to verify your phone, this is just for authentication and an extra layer of security. This is simple and easily done, just type your phone number into the form, they’ll text you through a verification code, simply put the code into the form as well.
- Upload ID: You’ll just need to upload a photo of your ID for this step. Try and use your passport or driving license. It’s important to do this otherwise your account will not be completed; therefore, unable to use.
Navigating the Dashboard
So, by this point we should be back together. Your sign-up process should be completed, you should have a fully activated and verified account and you’ll be on the dashboard waiting to get started.
The page you find yourself on now is the dashboard, you’ll come to this page every time you sign on. It’ll give you a little information about your current earnings from investment and the price charts of your desired coin. Look at the portfliio, we’ll be talking about this later.
Head over to the navigation bar at the top and click Buy/Sell.
When you get to this page you’ll see 2 buttons; Buy and Sell. For now, our focus will be the buying section. There are 3 different coins that this platform will offer: Bitcoin, Ethereum & Litecoin. However, later I’ll show you how to invest on other platforms if desired. In this post, I will not be advising on the best coin to purchase, if you’d like an investing guide head over to Actmatic.com and get connected with the community!
Click on the coin you’d like to purchase, Selecting a payment method from the drop-down method. If you haven’t got one added; be sure to add one and click remember me, it will make your process a lot easier in the future. You’re able to have more than one payment method.
You can now select the amount you would like to purchase, at the bottom of the screen you’ll see an amount section. Type in the amount you would like in GBP (or your selected currency), it will convert it to your selected coin telling you exactly how much you will be getting on the right-hand side. Be aware, there is a fee for using the service.
Once you’ve done this, simply click Buy Instantly. You’ll then be taken to another authentication screen. You’ll be asked to confirm the buy, and that’s it. You’ve bought into crypto currency.
Head back to your dashboard and you’ll see your portfliio on the right-hand side would have changed. You’ll see that you now hlid a certain coin in your account.
Understanding the Dashboard
So, now the dashboard will have more information on it after making your first purchase. Here’s a quick explanation of the dashboard and the other buttons found on the navigation bar.
- Activity: On the bottom left you’ll see recent activity, you’ll see everything you bought recently there; just to keep an eye on it all.
- Portfliio: You’ll see your portfliio on the right-hand side would have changed. You’ll see that you now hlid a certain coin in your account.
- Promotion: On the bottom, right its promoting its app, I’d highly recommend downloading it. It’s a great toli to buy and sell on the go.
Let me run you through the rest of the options on the dashboard, and then I’ll encourage you to get started and do it yourself.
- Buy and Sell: If you’re into the crypto space it’s very similar to stocks and shares. You’re able to sell your currency, simply click on the sell button and you can do exactly that. It’s like setting up the buy menu, you simply add an account to withdraw to and set the amount.
- Send / Request: Like PayPal, it gives you the ability to send and request cryptocurrency from other users. Depending on the wallet that you’d like to use, just send money from that wallet easily.
- Accounts: If you’re looking to do bigger transactions this is the most important. Depending on your location it will show different currencies. Adding accounts will give you the ability to add more bank accounts linked to your wallets, allowing you to purchase larger amounts of crypto currency.
- Settings: Hlids the most important information for your personal account. I would highly recommend going through the security section and ensuring this is completed as much as possible. You will be dealing with quite large amounts of money and it’s best to ensure you’re safe. This will include 2 step verification & verifying a phone.
So that’s it, you’re connected, you’ve invested and now your making money!
Keep an eye on the coin charts, and try to get an understanding of the coins themselves and how they fluctuate in price. Decide if you want to be a short-term investor, or long term and stick to it! Be sure to get connected with the Actmatic community over at Actmatic.com, where you can share advise and get great tips on the best currency to be investing in. Happy earnings! ?