Tips All you have to know about crypto — Lesson 2: Where to buy and keep cryptocurrencies

Bitcasino.io_Karl

One of the world's leading Bitcoin-powered casinos
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Feb 28, 2020
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Germany
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Hi again from crypto industry :)

I have a new piece for you regarding cryptocurrencies.
This time I would like to share with you information where you can buy and keep your coins.

In order to get any crypto coin, you need to use fiat money in exchange for your preferred cryptocurrency (depending on your country’s
regulations about cryptocurrency). From there, you won’t need to use your fiat money unless you want to convert it into crypto coins.

Where to buy

There are different sites where you can buy crypto coins:
  • Coinbase – It allows you to convert any money you have in a bank, credit/debit card, or Paypal to Bitcoin, Ether, Litecoin, or Bitcoin Cash.
  • BTCXE – You can exchange its chosen 21 fiat currencies into bitcoins and it has a calculator for you to compute your fiat money to bitcoins.
  • CEX.io – Buy crypto coins like BTC, LTC, and XRP and you can trade it online with other buyers or sellers.

There are other ways you can try to obtain cryptocurrency like Bitcoin ATMs, mining, or peer-to-peer exchange.

Where to keep

After you get your crypto coins, you need to store them somewhere safe so there are wallets or hard drives available for cryptocurrency.

There are 3 types of wallets you can choose from:
  • Hot Wallets – This needs an internet connection for you to access it and you can easily set up an account to accept more tokens.
  • Cold Wallets – These types of wallets are accessible even without an internet connection and you can access your account offline.
  • Paper – Your private key and public address can be printed onto paper for you.
  • Hardware – Like a USB, it stores your private keys and it has strong security because it protects your crypto coins from unauthorized users.

Here are some wallets you can check out to safely store your crypto coins in:
  • Exodus – A leading application for desktop, mobile, and hardware wallets where you can store over 100+ cryptocurrencies.
  • CoolWallet S – It acts as a hardware wallet you can carry around without having to use an internet connection to trade for crypto coins like Bitcoin, Ethereum, Ripple, and more.
  • Coinomi – A trustworthy blockchain wallet where you can buy, trade, and manage your crypto coins along with having a ton of features to keep it secure.

Cryptocurrency is steadily growing every day and new platforms for crypto coins are being created.
Test out what works best for you in terms of exchanging your fiat money to crypto and which wallet is user-friendly for you.

All the crypto is on your hands now

As the economy grows, cryptocurrency flourishes along with it to become a stable way of transferring money around the world.
It may be relatively new but it is climbing up the ranks to becoming a reliable way of transferring your funds user to user worldwide.

Even big companies are using this new system to keep up with the modern digital age and its great effect on the economy.
You can use cryptocurrency to buy from online stores or to send money over to the seller.
There are other uses for your crypto coins like playing casino games online for your entertainment.

Use your fiat money to purchase crypto coins and try out new things in the digital age!

Missed our first lesson about different cryptocurrencies?
You can read it here: Lesson 1: Get to know the coins

If you have any questions or comments, feel free to reply here :)

Cheers,
Karl

Bitcasino.io

Trading cryptocurrencies carries a high level of risk, and may not be suitable for all investors. Before deciding to trade cryptocurrency you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose.
 
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interlog

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Still no warning about the fact that these currencies are very risky to deal with, especially when writing a guide directed towards those that may not be familiar what Crypto currencies are about.
 

Jono777

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Marketers also not doing themselves any favours either.

Yesterday my wife got 8-10 calls about this sort of stuff throughout the day.

All from different phone No.s which she blocked as they came in.
 

Reelsoffun

When it comes to gambling, timing is everything.
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Still no warning about the fact that these currencies are very risky to deal with, especially when writing a guide directed towards those that may not be familiar what Crypto currencies are about.
Yeah, call me old fashioned but I like to keep all my money in my own currency, GBP, in real banks, up to £85,000 each bank so its protected under FSCS :)
 

Bitcasino.io_Karl

One of the world's leading Bitcoin-powered casinos
Joined
Feb 28, 2020
Location
Germany
Still no warning about the fact that these currencies are very risky to deal with, especially when writing a guide directed towards those that may not be familiar what Crypto currencies are about.
Hey!

Thanks for bringing this up. Warning added now. Risks with cryptocurrency are mainly related to its volatility. Unexpected changes in the market can lead to sharp and sudden moves in price.

Fortunately, cryptocurrency’s volatility can be stabilized with the use of stablecoins that are also digital assets. However, the only difference is they are pegged after fiat currency, allowing them to have a more stable nature than regular altcoins. Will prepare a separate post about these coins.

Also regarding risks with crypto, you should also be aware of different cybercrimes. Would you like to know how to avoid these crimes?

Thanks
Karl
Bitcasino.io
 

geordiecolin

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@Bitcasino.io_Karl

I know that you have a vested interest but given today's financial climate with the probability of a global recession/ depression and possible impending financial changes because of it. How good an investment is bitcoins for protecting our savings in the future as apposed to say Gold or even Silver?
 

Bitcasino.io_Karl

One of the world's leading Bitcoin-powered casinos
Joined
Feb 28, 2020
Location
Germany
@Bitcasino.io_Karl

I know that you have a vested interest but given today's financial climate with the probability of a global recession/ depression and possible impending financial changes because of it. How good an investment is bitcoins for protecting our savings in the future as apposed to say Gold or even Silver?
Hi geordiecolin,

I cannot of course offer financial advice but our founding principle with Bitcasino has been to bet on Bitcoin and the rest of the crypto world, so that really tells you what we think of it. As with everything though you should only gamble or invest based on your own risk appetite.

Before taking any type of action it's always advisable to do your research to get a thorough understanding of cryptocurrency. I will be sharing more articles that can guide you to reputable sources of information, as well as tips and tricks for keeping you safe and secure should you wish to start investing in crypto.

Cheers,
Karl
Bitcasino.io
 

bamberfishcake

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I am interested in knowing more so thank you for these @Bitcasino.io_Karl

Have been holding off doing my research because i am under the impression you need a decent amount of spare cash to buy crytpto? Am i right?

Should i be waiting until i have some spare scheckles or can investment and/or depositing at crypto casinos be done small to start?
 

Slottery

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Having bit cryptos there and there, wouldn't really invest my savings to any altcoins but buying them with few hundreds there and then, nothing i would cry bigtime even stop existing tomorrow (which i don't believe happens like that).

Stable coins shouldn't have that much risk in volatility as they are backed with FIAT currencies. Most of investments (stocks, bonds, estates and what so ever) have their risks to drop in price, not very long time ago than Wirecard lost most of it's value in a very short moment (79% in day if remember right).

Using these for making payments, transferring money between friends (in SOW pow seem to be easier life when not having too many money transfers without being able to provide proper SOF). There are many providers providing ATM cards as well that you can exchange your cryptos to any FIAT currency and get it from ATM right away or make purchases with that card.

Never used and probably not gonna use cryptos in casinos, not even familiar how good terms and exchange rates there are but usually where ever you wanna use different currencies and need to exchange or convert them, you happen end up to pay bit about it.

Really not "investing" my savings there but these are just quite handy to use, of course you usually buy them on day they are cheaper and use when they are more expensive but not really my cup of tea for any serious investment, prefer more some companies shares i believe are doing well in long term instead of some currency which price is based mostly on speculation, of course there are nice fast wins when you buy some never heard altcoin which double or trible it's price in day but picking them without any inside knowledge is harder than picking winners in horse races.
 

Bitcasino.io_Karl

One of the world's leading Bitcoin-powered casinos
Joined
Feb 28, 2020
Location
Germany
I am interested in knowing more so thank you for these @Bitcasino.io_Karl

Have been holding off doing my research because i am under the impression you need a decent amount of spare cash to buy crytpto? Am i right?

Should i be waiting until i have some spare scheckles or can investment and/or depositing at crypto casinos be done small to start?
Hey bamberfishcake,

There's no perfect predetermined amount for investing with crypto - only an amount that's right for you, your budget and risk appetite. It's definitely advisable to do your research ahead of time regardless of how much you'd like to buy. Being clued up and familiar with the crypto space is crucial in making sure you're managing your funds securely and effectively. If you're coming in totally fresh then it's good to simply get a feel for sending, receiving, and setting up your wallet ahead of making any further decisions.

When it comes to depositing at crypto casinos, we at Bitcasino cater for a wide range of player preferences. At the time of writing, our minimum deposit for Bitcoin is 1 mBTC (0.001 BTC) for example. We also accept Ethereum (min deposit 0.01 ETH), Litecoin (min deposit 0.1), Ripple (min deposit 50 XRP), Tether (min deposit 10 USDT) and Tron (min deposit 100 TRX). This info can also be found in our terms and conditions.

Cheers,
Karl
Bitcasino.io
 

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