Get started with cryptocurrencies
A step by step guide to get started with Bitcoin & cryptocurrency
Decide which cryptocurrency
Find the exchange that trades the crypto you want
When you have decided to buy Example cryptocurrency, you need to figure out where you can buy it. The absolute most common way to buy cryptocurrencies is through an exchange. Some exchanges lets their users trade Fiat (what is Fiat) to crypto straight away, but definitely not all. So sometimes you need to use a service/exchange like Coinbase, Localbitcoin, etc to buy Bitcoin, Ethereum, Litecoin, etc and then send them to the exchange that trades Example crypto.
Use our exchange review and comparison tool to find the right exchange for you!
Store the cryptocurrency you bought somewhere safe
Great start with buying yourself some Example cryptocurrency. But now you need to store it somewhere safe so no one can steal it from you. Remember in the world of cryptocurrencies you are your own bank. And therefore you need to make sure that you keep your crypto somewhere safe. A good hardware wallet is the way to go. Find out which hardware wallet that might suit your needs and crypto using our wallet reviewal and comparison tool.
Don't forget taxes
In most countries around the world we have to pay taxes on our crypto trades and purchases. What is common is that you need to pay taxes on any capital gains made from a trade. For example if you bought 1 Bitcoin for $4000 dollars and later on sold it for $6000, then you need to pay taxes on that $2000 gains.
So if you’ve made a lot of trades it gets difficult to compile them at correct prices and dates, we know. So thats’ why we put together this guide on how taxes for crypto works here
Spend your crypto or hodl it to see its value (hopefully) increase
Great work getting your cryptocurrencies stored safely using a hardware wallet. Now if you’re not planning to spend your Bitcoin, Ethereums or other cryptocurrencies at some merchant, then you can just safely keep it at that wallet. And over time you can wait and see if the price of your Example cryptocurrency will increased in value over coming months. But if you are thinking about spending your Bitcoins or other cryptocurrencies you can do so today using a cryptocurrency debit card. They work like any other debit card and could be used at most places that accept cards as they are often a normal Mastercard or Visa card.
Have a look at our debit card comparisons here.