I have spent over 9 months studying everything I can regarding bitcoin and crypto currencies
I have lost about $1000 in scams, as the internet is rife with people who live a life of ripping people off, and I have come up with what I think is the safest and most secure investment vehicle I can find, always remember that there are no guarantees in life and always do your own research when investing any money, I am not a financial adviser and do not take responsibilities for your gains or losses
Are you willing to start just with $100 US or approx. $180 AUD? or $5000
its up to you and your level of risk management
I have put together this guide which shows you all the steps to start,
An easy place to start exchanging your normal currency to Cryptocurrency, as we are in Australia I deal with this exchange, they are located in Melbourne and they are very professional in all the dealings I have had with them, they operate under the financial regulations as any other financial institution does in Australia and they will give you a wallet and address for free as well. If you just buy some Bitcoins today and leave them in your new Bitcoin Wallet then as the value of Bitcoin increases (and decreases) you will see the value of your new BTC (Bitcoin) change by the minute. They make their money by charging a percentage of each transaction you make by buying or selling crypto-currencies
To fund your account there is no charge and they allow $10,000 AUD at a time to fund your account, I am sure this has to do with Australian currency regulation relating to money laundering etc.
What do I need to do next?
Just pop over to the exchange and create an account, it’s free, secure and will take a bit of your time. Buy some Bitcoin $100 or less AUD minimum to get started, and they'll give you a wallet and deposit the bitcoin funds into it. The same goes for every crypto you buy
Below is a screen shot of my Coins Spot Account as at 23-11-17, just to give you an example of what your account will look like once you fund it and buy crypto coins, I have a number of coins listed below and their value goes up and down depending on the markets
To finalize the setup of your coin spot account you will be asked to provide id and a photo id, so again just follow all the directions and it is only needed to get started
Follow the directions below to finalize your account, the green Verified button below will be Blue until you have finished with that section
Now it is time to fund your account from your bank account
The screen below of my bank selected, CoinSpot provides access to the following banks in Australia:
Bank of Melbourne
Peoples Choice Credit Union
St. George bank
Once you get to this part of the process, click the ‘Confirm’ link and type the SMS 6 number code into the form below and then click Confirm button
Now just click the return to Coin Spot button
Once you have confirmed to purchase, the next step follows below
You will have to wait for awhile for the Bitcoin to turn up in your account, bitcoin turns up on the left hand side as pointed out below, can take a few hours if there is a high volume
to withdraw bitcon from your coinspot account to another account or wallet do the following below
Once this is done you will receive a successful confirmation and also will need to conform via email, as this is a safety step to insure you only can transfer bitcoin out of your account
Can I get my money back?
Yes, at any time. Buying a Crypto currency is no different to buying a regular foreign currency. You’ll pay a small fee to trade with the traditional currency but if you want your money back then you just exchange it back again. Many people just buy Bitcoin, leave it in their wallets and then when they feel the time is right and the value has increased enough for them, they just sell it back to Dollars / Pounds or whatever. This is crypto trading in its most basic form and has made a lot of people very wealthy recently.
Check out the other pages on this website as i have included some videos and articles
I have for your benefit outlines the steps in setting up your exchange account so you can start investing in Bitcoin and crypto currencies, the examples below are aimed at Australian residents, but the same principle is applicable to other exchanges