» » How to Buy Cryptocurrency for Beginners (Ultimate Step-by-Step Guide) Pt 1

How to Buy Cryptocurrency for Beginners (Ultimate Step-by-Step Guide) Pt 1

20 February 2018, Tuesday
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Hey guys I'm crypto Casey and I'm a crypto currency expert today I'm going to show you how to get started and investing in digital assets like Bitcoin cerium and litecoin safely and securely step-by-step I'm going to make this as easy as possible for you guys but before we get started I want to share with you two important things you need to know before transforming some of your wealth into digital assets number one these types of investments are not like anything else you may be familiar with unlike banks credit unions and traditional stock exchanges there are virtually no fail safes in place to protect you if you make a mistake or if you don't understand what you're doing there's no hotline you can call when you get stuck there's no corporate headquarters you can reach out to if you lose your funds there are no FDIC insured banks behind these investments and this all means at any time you could lose all of your investments from hackers or user error with no recourse at all cryptocurrency is cutting edge technology it's the modern-day Wild Wild West so require some time and focus energy to wrap your head around luckily for you I've done a lot of the legwork to compile this step-by-step guide to ensure you receive the knowledge and understanding you need to be successful in cryptocurrency investments the second thing you need to know before going any further is the golden rule of investing never invest more than you can afford to lose high risk can lead to high reward and we humans have a natural tendency to want to overreach but you need to figure out an amount you're comfortable with investing and more importantly an amount you can truly afford to invest then you need to stick with that amount and be patient in the process cryptocurrency is a lot more volatile and unpredictable than the stock market unlike the nine-to-five in New York Stock Exchange cryptocurrency is traded around the world 24/7 so if you want to get a good night's sleep as a CREP to investor you need to budget the amount of money you're going to invest and stick to it I've broken down this process into ten easy steps so let's get started step one this may come as a surprise to you because crypto stuff is pretty high-tech but the first thing you need to do is get yourself some paper notebooks yes I realize some of you have never used such recording techniques like a pen and paper before but seriously buy a couple notebooks from Amazon I personally love to use these moleskin notebooks from Amazon with grid paper I'm a huge fan of grid paper because it helps organize information in a way that's easy to read you need at least two notebooks but I suggest three step number two use your paper notebooks to store all of your passwords login credentials and any other sensitive information regarding your crypto wallets exchanges and other accounts I'm going to walk you through setting up later on in this video never store your passwords or login data online with a password manager on your phone or any device connected to the Internet you need to go old fashioned and store all of your essentials on the paper notebook with paper notebook backups this is why I recommend buying at least two paper notebooks you should store all these notebooks in separate locations to be safe you never know if fire may break out or with all these crazy hurricanes and flooding your house or your office could be affected and your paper notebook could be destroyed consider storing your notebook in a safe place at your house and storing the other one in a safety deposit box at a bank remember there are no pre-built fail safes in this technology and there are hackers everywhere trying to steal your funds it's up to you to take the necessary steps to protect your investments also if you decided to buy the moleskin notebook I suggested take a moment to fill in the in case of loss please return to section and more importantly the as a reward line think carefully and consider how much would you pay to incentivize somebody who found your notebook to return it safely where it belongs step number three let's talk about passwords passwords related to everything crypto need to be very strong I'm going to share with you some tips that will help you create strong passwords throughout the account setup process hackers are not just sitting on computers trying to guess your password they use programs that automatically run through massive databases of common passwords and random combinations of characters so to combat this you need to make very long passwords containing random words and letters capitalization and special characters don't use common phrases famous movie lines or a Bible verse and never use the same password for more than one account we will be setting up a lot of diff accounts later on in this video so be prepared to create several long strong passwords throughout the process I don't recommend ever storing passwords for crypto accounts on a password manager cloud-based password managers like LastPass and one password are vulnerable to remote attacks even though those accounts are encrypted if your master password is hacked then you're completely exposed so do not rely on one single password to protect your investments also never store passwords in your browser because those are vulnerable as well that's why I recommend only storing passwords in your paper notebooks next if any accounts require security question treat the answers like your passwords create fake long complex answers people can easily find out what your mother's maiden name was and where you went to high school on things like Facebook so keep that in mind also just like your passwords store the fake answers to security questions in your paper notebook step number four you need to ensure that your computer is secure and free of any malware before you start setting up any of the accounts and wallets I will walk you through later in this video there are ton of free tools and services available to scan and secure your computer in this video I'm going to walk you through the scanning cleaning and securing process using malwarebytes malwarebytes is a high-quality cybersecurity solution that will help you protect your computer from hackers first if you don't already require a strong password to access your computer so go ahead and make your first entry into your paper notebook your brand-new super strong computer password next let's do a full and complete malware scan of your computer using malwarebytes open your internet browser and go to malwarebytes comm scroll down to all products and under the for home section choose malwarebytes for mac or pc in this video demonstration we will install for mac click learn more and then click free download retrieve the downloaded file and open it to start the installation process click through the installation wizard until the installation is complete and then click close next open malwarebytes on your computer and click scan now if you are clean congratulations if you have some threat files malwarebytes will quarantine them go to the quarantine section and click show quarantine to view the files that were quarantined then click the clear quarantine button to permanently delete all the threat files finally you need to secure your freshly-cleaned computer I personally recommend using the paid version of malwarebytes but there are other computer security providers like Trend Micro or similar that are just as great make sure you choose a reputable security solution to protect your computer if you have a PC instead of a Mac and you want to go one step further to take your security to the max I recommend downloading and installing a key scrambler key scramblers are a great tool that prevent hidden keystroke logging malware from recording your passwords to hack into your accounts by encrypting everything you type in real-time I recommend trying key scrambler by qfx but again there are other key scrambling tools out there you can check out as well or if you have an onscreen keyboard on your computer you can elect to only type in your passwords using the on-screen keyboard this also prevents keystroke loggers from recording your passwords step number five you will not be accessing crypto related accounts on your computer alone smart phones play a huge role in security and access as well so you need to take steps to secure your phone first if you don't have one already require a password to unlock your phone that way if it's ever lost or stolen there is a barrier between a potential hacker and your investments make sure you log the password in your notebook for safekeeping next you need to remove your phone number from any public website in social media and try to never publish your cell phone or cell phone provider publicly or to people you don't know or trust no this is very difficult to do in our social media-driven world but this is an imperative step you need to take to ensure the security of your investments cellphone numbers are used to access a myriad of sensitive data including banking crypto and two-factor authentication applications we will be setting up later on in this video using your cell phone provider and cell phone number there are hackers out there who conduct something called sim theft this is where hackers steal your phone's identity by calling your cell phone provider and requesting a new SIM card if they steal your cell phone SIM card they can easily hack into your investment accounts and drain your funds so the next thing you need to do to prevent this from happening is set up a passphrase with your cell phone provider that must be disclosed before activating a new SIM card so get on the phone with t-mobile Verizon or whoever your cell phone provider is and set up a strong passphrase that must be disclosed before activating a new SIM card on your account step number six it's time to create a brand new unique email address using a handle you've never used before anywhere else this includes your name nicknames or user names you've used for accounts anywhere else online or offline in the past this new email address should be used exclusively for crypto investments only do not use an email address you use already and that people know about to open up crypto accounts you need something completely random to use for the handle for your new email account and do not use the new email address for shopping or signing up for newsletters only use your new email just for crypto and don't tell anyone you don't know or trust about it I recommend setting up your new email account using protonmail or another similar email provider that prioritizes security and privacy I'm going to show you how to set up a brand new email account using protonmail go to protonmail comm and click sign up select the free plan and click select free plan next choose your unique username you've never used anywhere else before next generate a very strong password register a recovery email make sure the email address you use as a recovery a strong password then click create account verify that you are human then click complete setup and select finish step number seven using your newly secured cell phone we are now going to download some two-factor authentication apps two-factor authentication is an extra layer of security that is absolutely crucial to setup before investing in crypto this is how it works when accessing an account after entering your super secure password you'll be required to input a code that is generated on your two-factor authentication phone app these codes constantly change every twenty to thirty seconds so no one will be able to access your accounts unless they have your cell phone at that particular moment in time there are two different authentication apps we will be downloading Google Authenticator and of--they some people prefer one over the other and some people use both in this video I will walk you through downloading and setting up both so you can get a feel for them first let's download of--they go to the App Store on your phone type in of--they and download the off the app when it's finished downloading enter your cell phone number and click OK next enter your e-mail address you created using protonmail and click Next a window will pop up that says get account verification via phone call or SMS make a selection and then enter the registration code in the space provided tap the add' icon on the accounts menu you will be prompted to create a backups password create a strong password log it into your paper notebook and enter it into the space provided click enable backups and confirm your password by entering it again it's important to set up a backup to ensure you can restore your accounts if you upgrade or lose your phone the next screen provides instructions on how to set up Authenticator accounts once we start setting up accounts later on in this video I will walk you through this process on the main screen tap on settings and then choose protection pin tap the per section pin button and enter a pin this will require a pin to be entered before opening the application next tap the protect entire app button and enter your PIN again your screen should now look like this next tap cancel and then tap devices turn the allow multi device setting to off now no one else can access your authy account on any other device except your specific cell phone now you're off the app is secure next let's download Google Authenticator you will need a gmail account to complete this setup so if you don't already have one create one with a unique handle you've never used before and a strong password go to the app store on your phone type in Google Authenticator and download the Google Authenticator app once it's finished downloading open the app and choose begin setup you will see two options scan barcode and manual entry go to your internet browser and open your Google account security page next scroll down to the 2-step verification section and click get started enter your gmail account password and then enter your cell phone number choose to receive a text or phone call to receive a verification code enter the code you receive and the space provided and click Next once the code is accepted choose turn on then on the next page scroll down and choose setup Google Authenticator choose the type of phone you have and click Next now go back to your cell phone and select scan barcode lift your phone to face the computer screen like this to scan the code once it's successful your phone will show a six digit code that changes every twenty seconds or so along with your gmail address now go back to your computer and click Next enter the code currently displayed on your phone before the time expires and the code changes and click verify once the code is verified click done if you've been using your gmail account for a long time you're not sure if it's automatically logging into old devices you don't use anymore scroll down to the devices you trust section and choose revoke all that way no matter what device you are using to log into your Gmail 2-step verification will be required now you have two different Authenticator apps most accounts work with the authy app however some accounts only work with Google Authenticator when setting up two-factor authentication with accounts you must choose one Authenticator over the other you cannot set up two-factor authentication for the same account using both Google and authy choose the one you would like to use to set up two-factor authentication for the protonmail address you created in the previous step log back into your protonmail account next click on settings and choose the security tab and then click enable two-factor authentication you can read their 2fa guide and then click Next scan the QR code with your two-factor authentication device to set up your account then click Next enter your password and then enter the two-factor passcode that is displayed on your phone in authy or Google Authenticator protonmail will also provide you with several one-time use recovery codes save these codes in your paper notebooks if you ever lose your phone and are unable to access your Authenticator app these codes will be the only way you can log back into your account you can enter these codes instead of the six digit often ocation code note that each code can only be used once and they must be used in the listed order so be sure to save all of the codes now two-factor authentication should be required when logging into your protonmail account step number eight now for the moment you've all been waiting for how to set up a wallet there are several different types of wallets out there and some wallets only support specific crypto currencies wallets are a big topic in crypto and more in its own video altogether so in this video I'm going to walk you through setting up a safe easy to use and insured wallet using coinbase coinbase has wallets that support bitcoin aetherium litecoin all digital currency that coinbase holds online is fully insured this means that if coinbase were ever to suffer a breach of its online storage the insurance policy would pay out to cover any customer funds lost as a result the insurance policy covers any losses resulting from a breach of coinbase it's physical security cyber security or by employee theft coinbase holds less than 2% of customer funds online the rest is held offline in storage however this insurance policy does not cover any losses resulting from the compromise of your individual coinbase account or individual error so it's your responsibility to use a strong password and maintain control of all login credentials you use to access coinbase so let's get started a quick note once you start accessing wallets and exchanges online it's important to double and triple check the URL you're accessing to make sure it's the real one always ensure there is an HTTPS protocol in the URL not just HTTP HTTPS means that the site has an SSL or a Secure Sockets Layer protecting the information pass through the website by a user always ensured that the actual URL is correct as well there are a ton of phishing sites that pretend to be the real site in order to steal your user name and password to gain access to your account on the real web site once you're 100% sure that you're accessing the right URL bookmark the page and only access the site going forward using this bookmark that way you never become a victim of a phishing site once you're at HTTP colon forward slash forward slash WWI base comm bookmark the page and then click sign up in the top right hand corner you will have the option to set up an individual account or a business account typing your first and last name followed by your protonmail email address and an extremely strong password verify you are not a robot click the check box to certify you are over 18 years old and agreeing to the User Agreement and privacy policy then click create account and remember never save any passwords on your browser or a password manager log the information in your paper notebooks an email will be sent to the email address you entered login to your protonmail account and open the email from coinbase then click verify email address next you will be brought to a login screen to login an updated user agreement may display read over it and then click accept terms once logged in you'll be brought to a dashboard that shows some information about Bitcoin etherium and litecoin scroll down to the complete your account section and click Add your phone number choose your country enter your cell phone number and click send code you'll receive a code via text message to your cell phone enter it into the field provided online and click Submit next scroll up to the top of the page and click on settings choose the security tab and scroll down and choose enable Authenticator another code will be texted to your cell phone enter it into the space provided and click verify using authy or Google Authenticator add the account by scanning the QR code with the Authenticator as the instructions read and step 3 on the screen right down the 16 digit secret code and your paper notebooks if your phone gets lost or stolen or erased you will need this code to link coinbase to a new Authenticator app once it's installed again do you not ever share this code with anyone keep it in your paper notebook and only use it to link coinbase to a new Authenticator if your phone is lost stolen or erased once the QR code has been scanned enter the six digit code provided by your authentication app then click enable now your two-factor authentication is set up or coinbase in this next section I recommend keeping the settings to require a verification code to send any amount of digital currency for an extra layer of protection next click on accounts and scroll down and click on vault a vault is a more secure type of wallet coinbase offers it's ideal for large bounces but it also delays any withdrawals and requires multiple approvals before transferring money out of it if you are planning to buy and hold Bitcoin ether or litecoin for a long period of time and don't mind waiting a few days for withdrawal approvals this is a great type of wallet to set up even if you're looking to be more of an active trader let's go ahead and create a vault for you as it is a safe wallet to store Bitcoin ether and litecoin for a long term investing so click create vault and choose the currency you wish the wall to support in this video I'm going to choose Bitcoin choose a name for your Bitcoin vault and click Next you'll be brought back to a screen that allows you to choose whether you will approve your own withdrawals or if you would like to invite other people you trust to co-sign on the withdrawals in this video I'm going to select individual and click Next withdrawals from your coin base bit coin vault wallet need to be approved using two email addresses I suggest using the Gmail account you created or freshly cleanse during this video because if you follow the steps a strong password protects it as well as two-factor authentication next enter the email address and click Next open the email click use this email to approve withdrawals and then you should be all set on the screen you will see the two email addresses you will need to access to approve withdrawals as well as the email addresses and a phone number that will be notified when withdrawals are requested and you will see a 48-hour time delay is required before withdrawals will occur now click continue to vault under the accounts menu you will see your Bitcoin wallet your Bitcoin vault and either wallet in a light coin wallet if you plan on investing in ether and litecoin I urge you to repeat the process and create vaults for those currencies as well for long term investments hold the Bitcoin ether or light coin in the corresponding vaults for short term and trading purposes hold Bitcoin ether and light coin in the irregular coin based wallets great so now you have a Bitcoin ether and light coin wallet set up in another video I will show you how to set up other types of wallets like cold storage for increased security as well as wallets that support other cryptocurrencies like iota Stratus and iOS step number 9 now it's time to create accounts for crypto currency exchanges coin base is the simplest and most user-friendly exchange and since we set up your first of all it's on coin base let's go ahead and finish setting up your account so you can use the exchange a quick note about using coin base as an exchange it's ease and convenience comes at a price buying and selling Bitcoin ether and litecoin on coin base is a little pricier than other exchanges in another video I will show you how to set up an account with G Dax which is an exchange owned by coin base that allows you to buy and sell Bitcoin ether and light coin with lower fees I will also show you how to set up accounts with other exchanges that allow you to buy and sell other cryptocurrencies in addition to Bitcoin ether and light coin so let's finish setting up your coin base account going back to coinbase go back to the dashboard and click add a payment method you can choose to add a bank account credit card debit card or set up a wire transfer to fund your account bank account transactions can take several days to hit your account however the moment you by using a account the price will be locked in at whatever it was in that moment however the trades can take up to four to five days to process and hit your coin base account to add a bank account select your bank and link your account by providing the login credentials to your bank account number routing number and confirming a small deposit and withdraw by coinbase credit and debit cards are good to make small investments you simply need to enter your credit or debit card details however only MasterCard and Visa are accepted at this time after entering your credit card information you will need to confirm to withdrawal amounts from coinbase on your credit card statement to verify the card for use setting up a wire transfer requires verifying your identity click verify ID you will need to enter your legal name date of birth physical address the last four digits of your social security number select from a multi select list what you use coinbase for whether it be investing trading or trading on some other exchanges disclose the source of your funds whether it be from an occupation or other investments and then choose your current occupation and once your identity has been verified click continue and you will be brought back to the dashboard when selecting wire transfer now you will see a reference number you can use to set up a wire transfer with your bank account once your payment methods have been verified congratulations you're ready to start investing in cryptocurrency almost step number 10 now that all of your accounts have been set up and you're ready to invest there's one more step you need to take most of the things covered in this video are not easy to figure out on your own a lot of people investing in crypto are young single Millennials and if something were to happen to you I'm sure there's someone out there you would want to benefit from your investments however you know that your mom grandma boyfriend or whoever you would want to benefit from your investments in the event of your death would probably have a hard time figuring it all out by themselves using your paper notebooks record detailed and instructions from this video on how to safely access transfer and cashing your funds if they ever needed to do so try to keep it simple but also detailed enough so even your grandma can do it I also recommend that you go the extra mile and create a will trust or other documents that could be legally executed in the event of your death to carry out your wishes so on that happy note thank you for watching my video I hope you found this video helpful and easy to follow be safe out thereскачать dle 11.3
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