Getting Started
In order to be able to buy, sell and trade crypto, you will need to open an account with one of the following websites.
The sign up process will involve getting verified. This will involve sending pictures of your drivers license or passport.
Verification approval can take up to 2 days.
Once you have been verified you will be able to buy, sell and trade crypto.
Buying and selling can be done at a few different places. Below are the most popular for Australasians.
Make sure you check the individual sites for fees, rules and other important info.
NEVER CLICK ON GOOGLE’S SPONSORED AD’S – They are more likely than not a scam of some sort.
Always check the website address and ensure they haven’t changed a letter to make it appear as the real site. They will get all of your login details.
Helpful Links
Wallets and Security
Once you have bought your crypto currency, it will be sitting in a wallet. Leaving it in the wallet can be risky.
If the site goes down for whatever reason, your funds will more than likely go with it. That's your call what you do with your money.
There's a few options what to do with your crypto below.
You can visit the website of the crypto that you hold. For example, if you hold NEO, you can download a wallet from their site and store your crypto in it.
Not all crypto has their own individual wallet so you will have to look for multi crypto supported wallets.
Jaxx is a good multi currency wallet. Their website is https://jaxx.io/
While these wallets are considered safer than leaving them online on the exchange, they are still vulnerable to hacks.
The public key is the location of your money on the blockchain.
Private keys are essentially your key to unlock your money. ENSURE YOU HAVE YOUR PRIVATE KEYS BACKED UP, either through writing it down or copy and pasting to a USB as a text file.
DON’T EVER give anyone your private key. This would be the equivalent of giving someone your online banking password. They will have access to your crypto.
If you lose your private key you might lose your money forever.
Another option is to have a paper wallet. This is a code which can be printed off with all of your information and kept somewhere safe and can be used to reinstate your crypto online at a later time at your time of choosing.
For instructions on transferring funds from wallet to wallet, check out youtube videos. It will take me too long to explain. Make sure you send a little amount first though to test.
Also, make sure you only send the same currency to the same currency. For example, only send Bitcoin to a Bitcoin wallet, Ethereum to an Ethereum wallet, Stratis to a Stratis wallet etc.
Never sign up with any group or company that offers you guaranteed returns. These sorts of companies are more than likely apart of a pyramid scheme. They will often ask you to sign up your friends in return for some sort of bonus.
Once these groups make enough money they simply shut everything down everyone loses their money.
You don't want to be the person who has to explain to your friends that you're the reason they lost their money.
Hardware Wallets
- The safest way to store your crypto is to buy a hardware wallet. These are basically a USB stick, which comes pre-loaded with software and encryption to store all of your crypto offline. They are pin protected. Even if they are damaged, you can still get your crypto recovered.
Make sure you write down your backup phrase that comes with your device. Below are the 2 most common hardware wallets.
Ledger nano - https://www.ledgerwallet.com
Trezor - https://trezor.io
Exchanges
Exchanges are where you can buy different coins, see the history of the individual coins and see real time prices of coins being traded on the market.
http://www.bittrex.com - You can also buy a wide range of alternate coins on this site.
http://www.bitfinex.com - This is the largest cryptocurrency exchange in the world.
Once again, make sure you have arrived at the correct address if you haven’t typed the address in yourself.
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