Buying Crypto Can Be Daunting – It Only Kind Of Should Be
Crypto currency is powerful technology, it allows near instant transfers of infinite amounts of funds. This is scary for most people who buy crypto until you realise using the right sites with the right security, crypto can be as safe as going to the bank. I am not going to give you a step by step guide for buying your first bitcoin as this available at all of our reviewed sites, if you need any further help please use our contact page.
Here at BTB crypto, we are real people looking to help everyone get into the revolution of crypto currency! No question is a stupid question… trust me, I’ve asked them all!
Here are our five tips when buying or exchanging your crypto currency
- Use one of our reviewed exchanges! I personally use all of our top 5 reviewed exchanges on a daily basis. They are reputable, tested and extremely trustworthy!
- Two Factor Authentication (2FA) – 2FA is the first and the most important step in securing your account. Download Google Authenticator for your IOS or Android device and install the application. This application will give you the second level of security you need when dealing with your crypto. When signing up to a crypto currency exchange (or at worse, turn this on after sign up, absolutely before you deposit your funds) you want to enable 2FA authentication. After this is enabled you will have to enter your username, password and your 2FA code that is displayed in google authenticator on your mobile device. This stops brute force attacks on your credentials as well as idiot proofs your funds for those who use the password “qwerty12345”
- As silly as this sounds, when transferring crypto currency from exchange to exchange or exchange to casino be very careful of the address!! I have personally transferred 1BTC to a completely wrong address… Yes, I know, Im an idiot! Thankfully the address I transferred that bitcoin to was not a valid address and the bitcoin bounced back. This was extremely lucky on my part! When transferring any crypto currency take very careful note of the address! I do not memorise every number in the string but I do check certain aspects of the address to make sure what I have copied or pasted is the correct address. I cannot stress this enough and this is the responsibility that comes with the power of using crypto
- Be wary of scams! Now that crypto currencies are popping up everywhere, people are out to steal your coins. There are countless posts on twitter and chat groups promising ridiculous returns if you transfer them your crypto. Please use the “If it sounds too go to be true, it probably is” mentality. Be careful that you are using legitimate websites, check the URL address bar to make sure you on the site you think you are and NEVER give out your wallet private keys.
- Crypto is a gamble, don’t forget that! As bullish as I am on the crypto space, it’s still a speculative market and you have to accept that. Riding the wave from 3k to 20k then all the way back down to my 6k is a great example of the roller coast crypto currency is. This doesn’t change the fact that I still recommend crypto to as many people as I can but I always include this caveat when explaining it. Lucky most of my network hears the gamble and loves the challenge 🙂