Disclaimer: This is a guide for noobs written by a noob.
The goal is to show that you don't need to invest insane amounts to get started. Start small - have fun - grow. Focus on what you have here and now. I don't promote the coins or exchange i mention here, I just simply remove noise in a world of chaos. - I only show the way to the portal i used when i first started. Simple and straight.
- Cut 100$ from your bankaccount. - These money are lost in eternity - they have no more value for you. Accept that and proceed to step 2.
- Open a Coinbase account at Coinbase (Just do it. Nothing scary about it). Have you opened the account? Good. next step.
- You remember the 100$ you lost a while ago? You've found them.
- Now, you have three options: Buy BITCOIN (BTC), ETHEREUM (ETH) or LITECOIN (LTC). Here's the crux, which one should you buy?
Don't think, just do. It's like choosing your starter pokemon if you can relate. This is the start of your adventure, and the coin you choose will stick with you for a long time - through ups and downs. - When you have choosen your coin, find a wallet to put them in. To use my pokemon-analogy, you need a pokeball for it. A place for it to be safe. For ETH you can use myetherwallet, for litecoin you can use the phonewallet LoafWallet. For bitcoin - GreenAddress (also for phone). Both of the are on playstore if you have android.
- Follow the steps for whatever wallet you picked. Send the coins from your coinbase-account to the address of your wallet. You will pay a small fee for the transaction.
- Watch it ride. Study charts, read blogs, learn..
As time go, and you learn more and more, things will naturally fall in to place. By nature you will protect your investments and find better solutions to do so. You will find more secure wallets, more secure ways to handle transactions. If you want to explore exchanges, you will find yourself doing a lot of mistakes, but you will learn. After a while you will realize that the money you lost / cut off, you invested those in learning.
Leave a comment, ask a question, upvote and share :)