How to Invest With Cryptocurrency – The Quick Guide
If you just want simple, straight-to-the-point, instructions on how to invest with cryptocurrency, then you can read just the bolded points below.
Crypto currency is the biggest world-wide change since the start of the Internet and the best way to profit from this monumental shift is by investing early. Currently, in early 2018, there are many crypto currencies that increase in value by over 100% every day because of the continuous increase in popularity.
Without guidance, making your first crypto currency purchase can be quite overwhelming. It took me about a month make my first substantial purchase of various crypto currencies. This delay was partially due to the high demand causing many exchanges to stop accepting new users or put a hold on site features – like account funding. I took advantage of this delay to do extra research on the best way to invest in Bitcoin, and other crypto currencies.
This is a quick guide on how to buy crypto currency:
- Sign up for a Coinsquare account here.
- Both you and I will earn a bonus $20 CAD after you fund your account with a minimum of $60 CAD
- Use this Coinsquare referral code or click on it to have it automatically entered
- Both you and I will earn a bonus $20 CAD after you fund your account with a minimum of $60 CAD
- Login to you Coinsquare account.
- If you are using Interac Online to fund your account then proceed to the next step. Otherwise, you must verify your account before your can deposit funds.
- Click on your account name at the top-right of the page
- Click on “Verification”
- Complete the ‘Mobile Phone’, ‘All About You’, and ‘Verification’ section.
- The ‘Instant Verification’ option was really easy for me but submitting documents might be easier for others.
- Complete the ‘Mobile Phone’, ‘All About You’, and ‘Verification’ section.
- Click on “Verification”
- Click on your account name at the top-right of the page
- Fund you account through any of the following methods:
-
- If you want to use your credit card and earn points for your purchase then sign up for a Coinbase account.
- The maximum I was able to buy per day was $250 with a credit card and it was instant.
- If you want to use your credit card and earn points for your purchase then sign up for a Coinbase account.
- Go to the ‘Dashboard’ to buy crypto currency.
- Use the ‘Quick Trade’ panel on the left
- Choose the currency you want to trade – CAD
- Enter the amount
- Choose the currency you wish to trade for
- Click ‘Get a Quote’
- Click ‘Make This Trade’
- Congrats! You’re a new owner of crypto currency!
- Use the ‘Quick Trade’ panel on the left
Well, that’s the basics. From here you can put your newly acquired coins in a wallet or use them to buy one of over 1300 other crypto currencies. Comment below if you want to know more about which wallet to use or if you would like recommendations on other exchanges to use so you can buy other crypto currencies.
Do you still have questions about buying crypto currency? Comment below or email me directly.
Always here to help,
Justin
justin@investwithcryptocurrency.com
Hi Justin
Thanks for sharing all this information on cryptocurrencies. They really do seem to be taking over the world at the moment. I have been ignoring them as an asset to invest in, but the name and information about them keeps coming up and up and up. Hmmm I guess I will have to read more great articles like yours to bring myself upto speed. They really do seem to be the way of the future. I was just concerned if you were worried about the exchanges or the currencies going “belly up” Thanks for sharing.
Thanks for the great comment Glenys! Yes, blockchain technology can add value to so many different industries so I also think it is the way of the future. There are some exchanges that should be avoided but if you are looking for more information on which exchange to choose then check out this post: https://investwithcryptocurren…
There is the possibility of certain currencies going belly up and it’s tough to know which ones will come out on top. This is one of the reasons why I have diversified and hold over 40 different currencies. Yes, my potential gains aren’t as high if I have less invested in the next Amazon.com but my potential losses aren’t as high either. I try to pick currencies that add value to the world. For example: NewYorkCoin is one that isn’t very popular but performs much better than Bitcoin and Litecoin in terms of transaction costs and speed. DentaCoin will serve the lucrative dentistry industry. And platforms like Ethereum can allow developers to build decentralised applications while also building the Enterprise Ethereum Alliance that includes companies like Microsoft.
Feel free to check out the rest of the site if you want to know more or email me personally at justin@investwithcryptocurrency.com
Cheers!