I just recently started buying into crypto currencies this past month. I tried several different ways (credit card, bank transfer, bitcoin ATM) just to see how different mode works. I also started learning about the many different altcoins. It is overwhelming at first and I think the biggest hurdles for a beginner is how to get your fiat money into the crypto coin system (mainly as bitcoins). Once that is done it isn't too hard to trade that to other coins on an exchange. Each day I try to expand my knowledge a little more.
Agreed. I'm in the same boat. Started a few months ago and now have accounts on several exchanges, have a few different wallets and own a little bit of about 8 different coins that I find interesting and that seem to have an interesting business model. What I'm curious about is when we'll see some of these decentralized companies really hit the mainstream. Become household names like a Facebook or Google. It definitely is an interesting time to be alive.
Welcome to the crypto community. I do not know if it was a mistake but you shouldn't refer to Coinbase as a wallet. Yes it's somewhat secure and you have a loose insurance backing but anything online can be hacked. Also keep in mind they will only back your money if they get hacked on their end. I recommend a true wallet like Trezor and Ledger or any of the others that are on the market. You can even make cold storage paper wallets which I'm sure you know of. A non-issue but since you're somewhat "new" I thought I bring it up. Great article nonetheless.
Thanks for the critique and comment. I wanted to keep the article very simple and thought mentioning other wallets and sites might start confusing someone new, but I agree with your points. I'll update the article a bit to reflect them.
Good thoughts
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I just recently started buying into crypto currencies this past month. I tried several different ways (credit card, bank transfer, bitcoin ATM) just to see how different mode works. I also started learning about the many different altcoins. It is overwhelming at first and I think the biggest hurdles for a beginner is how to get your fiat money into the crypto coin system (mainly as bitcoins). Once that is done it isn't too hard to trade that to other coins on an exchange. Each day I try to expand my knowledge a little more.
Agreed. I'm in the same boat. Started a few months ago and now have accounts on several exchanges, have a few different wallets and own a little bit of about 8 different coins that I find interesting and that seem to have an interesting business model. What I'm curious about is when we'll see some of these decentralized companies really hit the mainstream. Become household names like a Facebook or Google. It definitely is an interesting time to be alive.
Welcome to the crypto community. I do not know if it was a mistake but you shouldn't refer to Coinbase as a wallet. Yes it's somewhat secure and you have a loose insurance backing but anything online can be hacked. Also keep in mind they will only back your money if they get hacked on their end. I recommend a true wallet like Trezor and Ledger or any of the others that are on the market. You can even make cold storage paper wallets which I'm sure you know of. A non-issue but since you're somewhat "new" I thought I bring it up. Great article nonetheless.
Thanks for the critique and comment. I wanted to keep the article very simple and thought mentioning other wallets and sites might start confusing someone new, but I agree with your points. I'll update the article a bit to reflect them.
(:
Interesting thoughts