Ok, I've done it! After some research about where and how to buy I decided on Coinbase. I signed up and bought my very first bitcoin.
A staggering 100$ worth. I know this is a tiny tiny amount but I'm planning to take this slow, learn more about the platform and the way it works before I (possibly) invest more! Very excited nonetheless!
Let me know in the comments below if you have any advice for my next steps, more posts soon!
stats:
day 1
100$ bitcoin
0$ profit
Welcome, and congrats. You've just taken your first step into a larger world.
I'd be curious to read about the research you did that led you to coinbase. It's a very popular, easy to use entry point, but the fees can be steep.
the easy-of-use factor did it for me, is there another platform you'd recommend that has lower fees?
GDAX has much lower fees, but it's not as easy to use. You can also screw yourself up if you don't know what you're doing, as on any exchange. But if your goal is to learn crypto trading, it's a good place to start.
Thanks, I'll check it out. Also at what point do you pay fees? When you sell / exchange back to dollars? Yes, here to learn!!
There are no deposit or withdrawal fees, just when you trade between currencies. The amount depends on if you place a buy/sell order at market price or some other amount. See this link for info: https://www.gdax.com/fees/BTC-USD
Congratulations @danlittle! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOP