How I Invest in Bitcoin Cryptocurrency- A Basic Tutorial

If you haven’t heard about Bitcoin lately, then you haven’t been paying attention! Bitcoin and its rival Ethereum are cryptocurrencies (I’ll explain what a cryptocurrency is later) that are the next big thing in investing, with the potential to grow your investment exponentially over time. In this article I’ll explain:

What cryptocurrency is.
The difference between Bitcoin and Ethereum.
Why cryptocurrencies have the potential for explosive growth.
How I recently got started investing in Bitcoin and Ethereum with a step by step tutorial.
If you already know a little about cryptocurrencies and want to start investing, just scroll down to Tutorial: How I Invest in Bitcoin and Ethereum Cryptocurrencies Through Coinbase below.

Cryptocurrencies are Complicated
Cryptocurrencies is a huge subject, and I won’t try to explain every detail in this post. I’m only concentrating on the very basics here.

I’m a pretty smart guy, but it took me a few months (and a lot of research) to truly understand how cryptocurrencies work and why they have such huge growth potential.

So, with that in mind I want to give you some recommendations to help you understand how cryptocurrencies work and the potential they have as an investment.

Here are some articles I recommend:

How Bitcoin Works

A Beginner's Guide To Ethereum, The Next Bitcoin

The Ultimate 3,500 Word Guide in Plain English to Understand Blockchain

How Decentralized Currencies and Tech Will Change Our World

What Is Ethereum, and Should You Invest In It?

What Ethereum Is and What It Does

If you already know a little about cryptocurrencies and just want to start investing, scroll down to Tutorial: How I Invest in Bitcoin and Ethereum Cryptocurrencies Through Coinbase below.

What is a Cryptocurrency?
A cryptocurrency is basically a digital form of cash. However, unlike Dollars, Pounds, or Euros, it’s not tied to a government or central bank.

This is an advantage, as the value can’t be manipulated by a government attempting to control the money supply for their own ends. It’s a decentralized currency free from government intrusion.

Cryptocurrencies are Anonymous
Instead of storing money in a bank account using your name and vital information, cryptocurrencies are stored in an anonymous digital wallet identified by a secure code.

Instead of using a middle man like a bank or a government institution, you can exchange money with another person (or business) anywhere in the world with little or no fees or delays. It’s completely anonymous and secure.