COMPLETE DIY GUIDE
Not interested in scheduling a Zoom call? No problem! Each heading below will give you the knowledge to get started on your own.
SIGNING UP FOR AN EXCHANGE
Chances are your first cryptocurrency purchase will be at an exchange. The most popular exchanges available to US residents are (in no particular order):
Coinbase
Kraken
Gemini
Abra
Each site has their pros and cons, but in general, are very similar. Signing up at an exchange is much like signing up for other services you are likely familiar with, such as credit card applications, opening a bank account, and insurance services. You will be expected to provide identifying information to maximize your abilities on the exchange.
GET YOUR CRYPTO-ONLY DEVICE
One of the most important steps to consider before getting into cryptocurrency is to have one device devoted to crypto-only transactions. Scammers are smart and know how to pry data from devices you use for browsing the internet, texting, or work. Keeping a device, whether it be a cell phone, tablet, or computer with unique login details will help keep you secure.
What you choose to set up depends partially on your budget. If you are brand new and just getting your feet wet, the very least you should do is buy an unlocked phone or tablet. Android gives you a little more flexibility and are easy to set up log-ins different than those you use in daily life. Chromebooks are also a good option to consider and have affordable options as well.
If your budget is a little higher, or you just someone else to set it up for you, I recommend a crypto-only laptop from Calix Solutions. The folks at Calix Solutions will customize a laptop to your needs and will even schedule call to help you unbox it. To order a crypto-only laptop, click here.
STORE YOUR CRYPTO ON SOFT WALLETS
Not only will you conduct your crypto transactions on your dedicated crypto device, you will also need a place to store your cryptocurrency or tokens by moving them off an exchange. The good news is most popular tokens utilize "wallets" that can store several token types that you purchase on exchanges. Here are a few "soft wallets" that we recommend:
Exodus
Atomic
Trust
Coinomi
Coinbase (not to be confused with Coinbase app/exchange)
Be sure to save your seed phrases in weather-proof, fire-proof, and kid-proof areas. Seed phrases allow you to move your wallet to-and-from other devices when you decide or need to upgrade. To learn more about how seed phrases work, click here.
CREATE PAPER WALLETS
Paper wallets are an underrated way to store your crypto. You may have your own reasons for selecting paper wallets or not.
But paper wallets have a couple advantages that you might not have considered. Since paper wallets take a couple extra steps to transact FROM, they are a great way to store your long term hold stash. You may be less likely to sell at an inopportune time because of the perceived "hassle" to sell. Paper wallets are also free. You can divide up your long term holdings onto multiple wallets for extra security. And many soft wallets also have a scanning feature so you may sweep your paper keys to transact from easily.
If you plan on holding BTC, BCH, LTC, DGB, ETH and others, there are a plethora of options available to you.