Let’s get through this quick and dirty. This is a public post, both on FreeTheAnimal and on Patreon. Free to all.
- I want as many of my Patrons who haven’t yet dived in—perhaps suffering the paralysis of analysis—to get into an initial stake today.
- I want anyone else out there who’s scared to death, or whatever, to do likewise; today. Once in, perhaps they’ll consider becoming Patrons because I’ll have follow-on TL;DRs over the next three days covering trades into a couple of ‘altcoins,’ then sending them to a couple of cryptocurrency wallets, and then setting up tracking portfolios. These follow-on posts will be Patron-only, but if you decide not to participate at that level, at least you have a toe in.
- It’s time for everyone to get just a little bit of rational FOMO (fear of missing out).
The chart you see above covers the last 30-days of Bitcoin. In that time, it has gone from about $6,000 to $11,517 just this morning. It breached $10,000 yesterday for the first time and then $11,000 in less than 12 hours. In this same period, market capitalization has gone from $100 billion to $190 billion. Hey: money is pouring in, and Bitcoin, like stock issues, has a limited supply.
Isn’t it time to just dismiss the Peter Schiff’s and Jaimie Dimon’s of the world as just completely clueless about this, unable to see outside their own finely crafted boxes of illusion?
How much can you put in today? Like, today today? Can you do $25? Then do that. $50? Yes. $100, $250, $500, or even $1,000? You pick, but you’re going to do something today. Tomorrow, we’re going to take a small portion of the Bitcoin you bought and we’re going to buy small stakes in two altcoins on a different exchange. Yes, we’re going to do that. So, account for that in how much initial stake you’re going to do today.
I’m recommending two options:
- Put it all into Bitcoin (BTC)
- Put 2/3 into Bitcoin and 1/3 into Ethereum (ETH), now trading at about $480
You are not going to worry about the price of Bitcoin, nor transaction fees, today. We’ll get to that later.
There are three decent solutions for getting from your fiat currency (US, Canadian, Euro, etc.) into Bitcoin or Bitcoin and Ethereum.
- Abra (a smartphone solution that doubles as your wallet…with an easy backup & recovery feature)
Pick one, now. Make sure it supports your currency first. I’m going to run through the process on Coinbase. It’s very easy. It’s going to be easy on the other two as well. I’m using Coinbase because you’re going to make your buys with your credit or debit card, since you’re going to be buying and holding your Bitcoin and Etherium today.
OPEN AN ACCOUNT
Pretty much like anywhere. First you create an account.
You’ll have to verify your email, etc.
Then you log in. You’ll have a menu.
Before you do anything, here’s what you’ll see to the left, except that the ‘USD’ account would be in your own fiat currency.
Clicking on each of these will show you a transaction history to the right. Yours will be blank until you buy your first crypto, today. After today, you will have a transaction history.
Now, if you wanted to wait 4-5 days, you could hit the “Deposit” button on your fiat account (USD Wallet in my case), and do a free ACH transaction. Then you always have fiat money at your disposal for your next buy. I have my fiat stash over in GDAX, but that’s a more advanced subject for a later time. You’ll ignore it and not analyze it, today, ’cause you’re just buying Bitcoin and Ethereum, today.
LINKED FIAT ACCOUNTS
Now you’ll need to link up a credit and/or debit card. You can also do your bank account, but verification of the tiny deposits sometimes take time to show up. Credit and debit card pending withdrawals show up instantly in your online access, and since you’re buying today, you’ll use a credit or debit card, because within a few minutes, you’re going to own and hold your own Bitcoin and Ethereum.
Just click on Link a New Account, select credit/debit card, enter the credentials, then open up your online banking account, see the two pending withdrawal transactions, click to verify in Coinbase, enter those two amounts, and you are ready to buy Bitcoin and Ethereum, today.
BUY BITCOIN AND ETHEREUM
You’re doing great. Now you’re ready. It couldn’t be easier. Just click on the Buy/Sell on the menu, and this is how easy it is. One image to explain it all.
And there you go. Just repeat the exact same process to buy your stake in Ethereum.
You’re done. You own cryptocurrency and if you’ve used coinbase, it’s just as safe as a bank, as it’s FDIC insured.
As I said, this is a freebie for all. There will be three more Patron-only posts that will be up at Patreon over the next three days, one step per day.
- Tomorrow, Thursday, we’re going to move a portion of our Bitcoin to an exchange and we’re going to buy small stakes in two different altcoins I like (you’ll be free to chose others; same process)
- Friday, we’re going to move all of our holdings (Bitcoin that remains at Coinbase, all Ethereum at Coinbase, and the two altcoins you bought) to two separate and different kinds of cryptocurrency wallets
- Saturday, we’re going to set up two kinds of portfolios, one on your desktop browser and one on your smartphone so that you can track your holdings
Then, you get to dance on the beach like Tom Hanks, who just made fire.
See The Cryptocurrency Resource Library — A Complete Up-To-Date Index of All The Most Important Stuff.