How To EASILY Buy Crypto (Doge, Shib & More)
I get it with a pitch like that. I would be intrigued myself and in fact i am, but you might be so intrigued that your next logical question is: how can i get a piece of the pie and thats exactly what i want to talk about in this video ill? Be sharing some of my favorite places to invest in cryptocurrency ill talk about some of the security concerns that you at least need to consider and then ill be sharing a few little tidbits on how you might be able to make a little extra on the side. So with all that being said, lets hop right into it Music. Now before we go any further, i need you to know. By no means am i a financial advisor and in fact im, not even an unbiased party ive been in crypto for a while, and i am very bullish on its future and thats just because i believe in the technology. So you need to understand that everything im about to say is not coming from an accredited advisor and in all honesty i wouldnt even think of myself as a crypto expert im just here to share what i know about it, and i please ask you to do Your own dd, so with that being said, lets rock. So when i was considering platforms where i could get that sweet sweet crypto, i considered three main things: is it safe? Obviously, i didnt want to get hacked.
Is it easy to use? I didnt want to have to solve a rubiks cube every time i wanted to buy some crypto and how much were the transaction fees. Those were the three main things i considered and as being a us resident that led me to coinbase, gemini and voyager with that. Being said, there are a couple caveats that i need you to know about both coinbase and gemini are referred to as crypto exchanges. They serve u.s clients and some international clients, but for whatever reason, its a regulation issue coinbase is not available in hawaii. On the other hand, you have voyager, which is not an exchange, its actually a crypto brokerage and thats only for u.s residents, excluding new york and thats, just because crypto rules and laws within new york are pretty tough. All three of these platforms will require kyc and aml. Know your customer and anti money laundering, so basically theyre going to need all of your information to confirm that you are really you. Also, all three of these platforms function as a wallet which im going to talk about more in just a bit, but overall, whether youre talking about crypto stocks options, futures whatever it is, whenever its offered to you, i highly suggest you look into two factor authentication, because It just adds an extra layer of security which protects you. Some of the most popular ones are going to be. Google authentication, microsoft, authentication and another. Very popular one is twilio auth, as a quick pro tip im, not really sure how this will impact international clients, but if youre within the us youre going to see options to be able to buy crypto on all these platforms with credit cards or debit cards, i Would highly recommend against that, because the fee is pretty lofty most of the time.
The most logical way to get any crypto is going to be through an ach transfer, which you can most likely set up through plaid. So i think its completely fair for you to currently be wondering matt, you just named three different platforms. What gives what is the best one now? In all honesty, i do use all three of them and thats because they offer different cryptocurrencies. They offer different interest rates. Obviously, theyre available in different locations, but if youre just getting started – and you want to deal with the most common cryptocurrencies and for you its just most important of hey, i need something: thats safe, secure, easy with a big emphasis on like a usable ui in ux. I would recommend taking at least a first look at voyager. I also need you to note that this list is by no means complete. Other platforms such as binance, kucoin and kraken are all great theyre highly respected, but they do take a little bit of a learning curve to get used to now. On the other hand, there are two platforms that i would recommend avoiding thats, robin hood and weeble. My reasoning for this is pretty much the fact that neither of those function as a wallet as in you cant send crypto and you cannot receive crypto and, in reality, what you truly own, its more of a very fancy legal iou and you dont truly own. The crypto and as you get more into your crypto investing and trading career youre, going to figure out that truly owning the coin or the token is highly important to be fair.
Robin hood did recently announced that theyre looking to implement wallets in the near future. At least as im filming this, but on the other hand, i think that robin hood is pretty much a piece of company, so i dont want to deal with them anyway, very quickly. For those of you who might not have heard the term before a cryptocurrency wallet allows you to send, receive and spend cryptocurrency as if it were a normal currency. When youre looking into this theres, a very good shot that youre going to hear the term hot wallet and cold wallet, the high level general difference between the two is that a hot wall is typically connected to the internet, which makes it very easy to use. But its a little bit less secure and, on the other side, cold wallets are not connected to the internet, but theyre, typically highly highly secure. An example of a cold wallet would be something like this ledger. Nano x here, where you can legitimately store cryptocurrency in a physical wallet right here, looks like a little usb and theres a very low chance of it being hacked and with it, a hot wallet or cold wallet, its very common that youre actually going to have a Secure private key phrase: when you get these, if youre using things like metamask and trust wallet which are both online hot, wallets those youre going to want to secure them, youre going to want to write them down, i would highly recommend against just taking a picture because Then anyone can define it.
I would recommend writing it down, storing it somewhere, maybe putting it in a safety deposit box and in fact, youre also going to have to do that with the ledger. Nano x, if you have this cold wallet, youre, going to get some sort of private key phrase, which is your special key to actually be able to access it. So, just a little quick breakdown of what a hot wallet is cold wallet and the difference between the two and from my own personal thing. Yes, i obviously do have a cold wallet, but a high majority of my crypto is stored on a hot wallet like i said you could use metamask or trust wallet. Those are both very, very popular, but just so you know, coinbase, gemini and voyager also all function as a wallet. Now, if youre like me and you decide to go the hot wallet route, i have some good news for you, because theres two different ways that you could be earning some extra moolah, the first one is referred to as staking and in all honesty it does deserve Its entire own video, but let me give you the quick overview youre offering up your own coins or tokens to help validate the blockchain and in return you are either generating new coins or tokens that you get or youre getting a little piece of the transaction fee And the other one is just good old fashioned interest like stocks theres a way to rent out, in this case your stocks, and then this one, your crypto and you get a little interest payment for it.
I highly recommend looking into both of them, and just so you know i happily engage in both staking and interest payments when it comes to my own crypto. I appreciate you making it to this point in the video and i truly wish you the best of luck in your cryptocurrency trading investing career and i just hope you make a boatload of money while doing it.