Hey guys! So everyone has been asking me how do they get started with BitCoin? How do they get started with LiteCoin, and all these other cryptocurrencies And that is the primary purpose of this video: How to get started with BitCoin? Just to preface, this is not financial advice, I am no financial advisor

I am not telling you where to put your money, where to invest your money, or whether or not this is even going to make you money Because like anything else that deals with money: it is a risk So, getting started with BitCoin #1 You need to understand what you are putting your money into I won't necessarily explain that within this video, but I will link a ton of resources in the comments so that you can understand exactly what cryptocurrency is and exactly what BitCoin, LiteCoin, and even Ethereum can do for you

So some things to know: #1 There are three different coins that you can start to get involved with as it relates to CoinBase That's BitCoin, Ethereum, and LiteCoin So with this, to get started you have to open up your own digital wallet I personally suggest using CoinBase because it's the easiest, especially for beginners – and it holds all three of those coins Something that I've noticed to get started within the cryptocurrency world in general is you have to buy the main coin in order to get started in other altcoins, which are any coins that were created after BitCoin

So, to get started, we'll do a walkthrough of the actual CoinBase application – just so that you can see exactly what I'm talking about, but this will be your digital wallet where you hold pretty much a majority of your cryptocurrency So we are going to start within the App Store and search for the CoinBase app Once you find it, this is what it looks like So just click GET and INSTALL and install that on your phone and we'll get started with buying BitCoin So once we have our app, we're going to click OPEN

And the CoinBase application is going to open SO as you can see from the Home screen, these are the prices for the current BitCoin — and as you can see its risen a lot This is Ethereum and LiteCoin, as well All of them have been on the rise recently You can search within the last year, the last week, and even within the last hour for all of these coins

Then you can also see the changes in the prices that's been made We're going to go ahead and click Sign Up So when you sign up you want to begin by entering all of the information that they are requesting So I'll enter some filler information just for the sake of this video With email, and with password you really want to make sure you are using a secure password

So I'd recommend sentences with spaces, punctuation and different things like that Not some word or phrase, but you actually want an actual phrase Certify and sign up! So at this point we've verified all of our information and put in our payment method and we're going to go ahead and click Buy BitCoin As stated, you don't have to buy a full BitCoin So I'm going to ahead and put in $500, and that is the amount of BitCoin we will receive for $500

And it will deposit right into our BitCoin wallet Click Buy, this is your receipt and once you click Confirm Buy, you will have BitCoin in your wallet So some strategies for getting started When investing your money a lot of people want to say "I just want to wait until it goes down I'll wait until it goes down then I'll put my money into it

" By all means, you want to get the lowest price price possible so that you can get the optimal return on your investment However, the strategy that I would recommend — definitely wait for a low price — but invest money when you are up So when you have extra money, and you have a little extra income — invest Rather than waiting until the price of the cryptocurrency goes down Because you never really know — all of this stuff is so volatile, it's so risky and it can go up and down within hours, minutes, even days

So you just never know when it will actually go down, or if it will go down So rather than waiting until it goes down, invest money when you are up So that's it everyone, I hope you have a bit of clarity on getting started with BitCoin and opening up your own digital wallet with CoinBase If you like the video please subscribe, comment, share the video with your friends so that they can get started as well But thank you so much for watching this video and please be on the lookout for my new content