My Guide on How to Invest in Bitcoin Safely Step by Step. ► Where I buy Bitcoin: ► Get up to $ 250 in digital currency: ► How I protect my Bitcoin: ► My stock portfolio + stock tracker: ► Deposit $ 100 and receive 2 shares worth up to $ 1600): ► ROBINHOOD (receive 1 share When you sign up): ► Open a Roth IRA: ► Follow me on Instagram: My PO Box: Andrei Jikh 4132 S. Rainbow Blvd # 270 Las Vegas, NV 89103 Many people want to invest and buy Bitcoin, and now it’s that good a time as ever before in the year 2021. First, as a cryptocurrency investor, I want you to know that I am biased. I already invested in Bitcoin and Ethereum in 2014, I recently made a video where I bought another $ 100,000 in value, and since then the balance has grown to over $ 300,000 at the time I made this video and I think there is much more room for growth. Step 1. The best place to buy Bitcoin. I’ll start it with my two favorite brokerages that I invest with, namely Gemini and Coinbase – I have accounts with both – you can’t really go wrong with either, but the sign up process is almost identical with each. Safety, simplicity and value are my priorities. I want my coins to be safe and I want to invest in a reliable source, and I want an interface that looks simple. All brokers require that KYC (Know Your Customer) and AML (Anti Money Laundering) laws are followed. This means that no matter where you invest your money, companies will ask you for your personal information such as your Social Security, your phone number, your address, just like any other legit brokerage you would use – that’s standard. Step 2. Secure your accounts by downloading an app called Authy from the app store. This will help with 2-factor authentication to ensure that your bitcoins are safe and secure. You can also add a secondary layer of security by adding a biometric key if you have a laptop that allows this. Step 3. Once you have secured your account, you will need to fund it. Avoid financing or buying Bitcoin with debit and credit cards. They charge an interest rate of 3.49%, which is half of what the stock market returns in a year – don’t do it. Instead, connect your bank accounts and use ACH Transfers or Wires. ACH transfers have smaller limits ($ 15,000 per day). Step 4. Buy Bitcoin. Once you have deposited money into your account, you can invest once, daily, weekly, etc. if you want to average it over time. I personally buy it all at once, but average can be a great idea. Once you buy some and invest your money, HODL for dear life! Step 5. Once the Bitcoin has been deposited into your account, which may take some time depending on how you funded your account, you have two main options. A cold wallet, or a warm wallet. The hot wallet keeps your Bitcoin online, the advantage is that you have near-instant liquidity which means you have instant access to buy more, trade more, sell more or put your money to work and earn interest from it . The downside is taking a risk and trusting that the exchange or website you keep your coins on is safe enough not to lose your money. I use Blockf to earn interest (blockfi.com/andrei) but there are other companies like celcius.network and nexo.io too – all great choices. I like Blockfi because they have a lot of respected venture capital money and they partner with Gemini (the brokerage I mainly use). Step 6. The cold wallet method is to store your coins offline. The advantage? Safety. The disadvantage? You may be losing money to inflation because your money is just sitting there (luckily it’s still valued, but why not make passive income from it?). The nano ledger is $ 59 and I would recommend saving your money here once you have at least $ 1,000 of a balance. Just remember that only you can set it up, no one else should ever see your secret key phrases. Step 7. If you have traded or sold currencies at a profit / loss report it. I’m using app.taxbit.com and they integrate your cryptocurrency accounts in a way that doesn’t give them full access, it gives them access to the view and it calculates everything automatically so you can just print it and pay it to your tax person . * None of this is intended as investment advice, it is for entertainment purposes only. Above links contain affiliate committee or referrals. I am part of an affiliate network and I receive compensation from partner websites. The video is correct at the date of publication, but may not be correct in the future. .
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