Why get involved?
With the whole world feeling inflation due to parabolic money printing, everyone is searching for a safe haven for their savings. Bitcoin was born from the last recession in 2008 as an alternative currency that was decentralized and not backed by any government. Designed to be deflationary in nature it is the opposite of fiat currency and has a limited amount that can be mined or printed.
I first dipped my toes into the crytocurrency pool in 2016 buying bitcoin when it was just around $700 and have watched the cryptocurrency market mature and grow over the years and mainstream adoption is still to come! The blockchain technology behind cryptocurrencies will form an integral part of data and technology infrastructure world-wide.
Bitcoin is the first cryptocurrency and has become the “gold standard” by which all other tokens or coins are trade.
Is it a good time to buy Bitcoin?
With the world’s economy entering a recession Bitcoin is the best performing asset of 2020 and the last decade
!
You might say the crypto market is too risky or volatile, but in reality cryptocurrencies have experienced fewer instances of annual negative returns than the majority of any other traded asset in the world!
Now I’m not an investment advisor and want you to do your own research, but the numbers speak for themselves.
As far as timing goes, dollar cost averaging is the best way to accumulate any asset you are bullish on, but many think this is an ideal time to buy.
Check out this Forbes article where former hedge fund billionaire and chief executive of Galaxy Digital Holdings Mike Novogratz told Bloomberg, “”This is the time for bitcoin…in the last year it has become a macro weapon and investment choice.”
Novogratz even bet that bitcoin will outperform almost every other market over the next few months—picking bitcoin over gold, treasuries And the U.S. dollar.
As institutional investors are just starting to get involved we are at the beginning of a huge wave!
What's the best way to enter the crypto market?
Since almost all cryptocurrencies are traded through Bitcoin or Etherium, those are top 2 in market cap and I believe the best to start with. There are many different exchanges out there that allow you to buy cryptocurrencies with a credit or debit card or even a bank transfer. The key is finding the lowest fees – below are my top 3:
This used to be my favorite app to purchase crypto, but they have raised their fees, so now mostly use a bank transfer on Coinbase Pro. The current fee in the US is 3.5% when purchasing instantly with a credit or debit card. You also get a $25 bonus in CRO tokens when you stake at least 2500 CRO tokens for 6 months.
Their app is straight forward and easy to use and you can get up to 12% P.A. on some tokens in their EARN program. Click here for your $25 bonus and then download the app to purchase immediately. The thing I like the most about the Crypto.com app is it allows you to spend your crypto using a Visa debit card. Purchases can get up to 5% cashback and they offer free Netflix and Spotify!
Coinbase is considered one of the safer exchanges in the US and has been around since 2014. They also allow you to buy Crypto with bank transfer or Credit/Debit cards. Credit Card deposits will incur a 3.99% fee so If available in your jurisdiction, do a SEPA transfer or ACH bank transfer instead since both are free.
Coinbase has a Coinbase Earn program that allows you to earn over $100 in cryptos simply by watching videos and learning about the different crypto projects out there…something I highly recommend!
Learn about the Compound token and earn up to $59 worth of COMP tokens!
Learn about Stellar Lumens here and earn up to $50 in free XLM tokens.
Learn about Orchid here and receive up to $52 in free OXT tokens.
Best Cryptocurrency Exchanges
Almost all of the exchanges also allow you to buy Bitcoin with a credit card now, but if you want to own any other coins you will need to use an exchange. You want to make sure you are using a reputable exchange with enough liquidity, but no exchange is immune to hackers so never store your crypto on an exchange for very long. I suggest you do your own research, but these are the top 5 I have been using. Click on each one for more info.
Coinbase has both simple and advanced trading options so I consider it the best for traders based in the US.
Binance US works well for me and I like their interface for trading. They also offer some great staking options at higher rates than most places. CLICK HERE to join with my link and get $10!
Kucoin has one of the largest selection of trading pairs and has many other perks like trading bots and contests. CLICK HERE to join with my link.
I personally find Kraken’s interface to be less user friendly than the others, but some people love it.
Make sure you know how to trade before you start. Education is the key and Crypto Crew University is one of the best out there! Click here to learn more.
I’m happy to coach you if this is all new to you. Be careful because there are a lot of scammers out there!
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