The goal of Baby Steps is to help people that want to own Bitcoin or another cryptocurrency to speed up the process. Limiting mistakes. Starting on a solid foundation. The goal should not be to make money, but to learn about the technology. Have fun. This is not financial advice.
Follow baby steps 1-2 -3 on how to quickly buy your first cryptocurrency. Baby steps is for complete beginners on how to buy your first cryptocurrency without knowing all the techno lingo. Once you get your feet wet. Then you will learn more intermediate steps to really advance your skills.
Baby steps will guide you on the Coinbase exchange, so that you will have a solid foundation. Then when you are ready you will be able to transfer your coins easily with a click of a button onto the Coinbase Pro account. Continuing to advance your knowledge as a crypto trader.
Baby steps will start with an account on the Coinbase exchange with no more that 100 dollars. Allowing you to to build a small portfolio of Cryptocurrencies of your choice. Like Bitcoin, Ethereum and etc….
Baby step 1
First baby step is to go to the website www.coinbase.com and click the get started button.
Follow the directions and create your account.
Make sure to create yourself a good password and write it down.
Once you are logged into your Coinbase account. Have a look around and become familiar with the layout of the Coinbase exchange.
Now you will need to go to the settings menu. Just click on the little silhouette in the top right hand corner.
Now click on payment method and add your bank account.
Adding your bank account is probably the slowest part of the process. This step takes about 3 to 5 days to confirm that you received your deposit to your bank account.
Also you will have to confirm your identity with a pictured ID. Yes I know this is a pain, but this is how it works on most cryptocurrency exchanges.
Once this step is done you will be ready to trade.
Don’t give up! Once your funds are in your account, you are ready for baby step 2.
Baby step 2
Now we are ready to buy your first cryptocurrency.
Lets get crazy here and buy the king of the Cryptocurrencies. No other than Bitcoin.
Click the Trade button at the top of the page. Make sure Bitcoin is selected in the buy category. Set the dollar amount for 20.00 dollars (Lets go big) and click Buy Bitcoin.
Congratulations. You now own Bitcoin.
Perhaps you want to watch the price of Bitcoin and buy low and sell high.
Or you may want to buy some other coins. I’ll let you decide.
At this step you are ready to go to baby step 3.
Baby step 3
Well here you are with your 100 dollar portfolio. Hopefully still worth that or more. Cryptocurrency is very volatile. So be prepared for sudden drops in price or sudden increases.
After being on Coinbase for a while you will start to notice the limitations. You may want to go Pro now? Well guess what? It’s very easy to do. Coinbase has a pro trading platform called Coinbase Pro.
You can sign into your Coinbase account to authorize access into Coinbase Pro. Make sure you use the same email and password from your Coinbase account.
Go here to access Coinbase Pro https://pro.coinbase.com/
You will be able to transfer your coins from your Coinbase account directly into Coinbase Pro.
My friend this is where I leave you for now. You’re ready to learn how to trade like a pro. Proceed with precaution and have fun. Learn about the trading lingo and how to do market, limit orders and etc…
I should have more advanced information on this site in the future. Check back and I hoped this information helped you to discover blockchain and cryptocurrency technology.
Before I go, the one thing you must learn is how to really secure your keys. Because if you don’t have your keys off the exchange then technically the coins are not yours.
Check out my article on securing your coins on a hard Wallet.