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Right now is the perfect time to buy cryptos , Bitcoin has hit the floor and altcoins are starting to rise , step by step guide for new investor
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This massive dip has happened every year in the middle of January for the last four year. It's nothing new , and will likely do the same in 2019. We have hit the bottom, and there will NOT be a better opportunity to buy this year. Alt coins have began to stabilize and are rising now. More than 30 coins on binance are now in The green reporting 10-40% gains in the last 24 hours. It only goes up from here.
For those of you that have been waiting for the right time and need help buying, I will post a quick guide to help you along. It's really simple , and in just a few minutes you can be the proud owner of the coins of your choice.
First decide if you're going to trade on the markets or buy to hold. Either way a wallet is required because it's never a good idea to store your coins on an exchange. Here is a decent universal wallet that you can use to store your coins temporarily. [link to wallet.mycelium.com (secure)]
I say temporarily because offline storage is the only way to go for long term investing. I will add a video to help with creating an offline wallet at the bottom of this post. Don't worry, it's easy.
Next we need to sign up for an exchange that lets you purchase cryptos with a credit card or bank account. You only have a few options here. The most popular is coinbase. You can sign up here [link to www.coinbase.com (secure)]
Once you complete registration, there are a series of steps to complete to verify your identity, similar to paypal id verification. Once complete you can purchase bitcoin, bitcoin cash, ethereum, and litecoin. Once you have one of these currencies, you can exchange them elsewhere for other altcoins, which we will go over below.
An alternative to coinbase is changelly , they haven't been around as long as coinbase , but they are growing fast and gaining a good reputation. Mainly because you don't have so many hoops to jump through to purchase cryptos. New users can be verified with just a valid phone number. You can also purchase a large amount of coins with your credit card, unlike coinbase that only offers a few. You can sign up here.
[link to changelly.com (secure)]
Now that your able to purchase bitcoin , you can begin trading on the big exchanges. The biggest and most trusted by far is binance. You can sign up here. [link to www.binance.com (secure)]
Binance allows you to trade a huge selection of coins on live marketplace with tons of users. First thing you have to do is deposit your coins to trade with. Click on the coin you want to deposit and it will provide you with a unique address. Go back to coinbase or your wallet, click on send and paste the address and amount you wish to send. Bitcoin can take hours to complete the transfer, I would suggest sending ethereum or litecoin which only takes a few minutes. Once your funds arrive on binance, you can exchange to bitcoin if you wish.
This should be enough to get you guys started, and feel free to ask any questions you have, I will check the posts and help out any way I can.
This vid will help you setup offline store for bitcoin, and applies to pretty much any coin you choose.
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