Gemini Cryptocurrency Exchange | How to Buy Bitcoin for Beginners (2021)

Learn How Buy Bitcoin on the Gemini Cryptocurrency Exchange with a FULL guide for beginners!
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My goal is to educate you on how to safely buy Bitcoin and store it as well, while making smart investing decisions.

INTRO – 0:00

STEP 1: Choose and Exchange – 3:30
First you need to choose an Exchange, which is a place to buy, sell, and transfer Bitcoin and other cryptocurrencies. You can also store crypto currency on exchanges as well, however that’s not something that I personally recommend due to the risk of exchanges being hacked.

The two main crypto exchanges to buy Bitcoin are Gemini and Coinbase. I’ve used both of these and either one will be a great decision. However, I personally prefer the Gemini Cryptocurrency Exchange over Coinbase. Be sure to use a 2FA app like Authy to secure your account after downloading the Gemini or Coinbase app.

STEP 2: Add Funding Source – 9:40
Next, you need to add a funding source. This will be a bank account in most cases that you will use to buy Bitcoin. The best option on the Gemini Cryptocurrency Exchange is to link your bank account via Plaid. It’s nearly instant verification and prevents you from having to wait 2-3 days when manually linking your bank account.

If these options are not feasible for you, you can also add a debit card or other options depending on your country. Please keep in mind that fees are way higher when using debit cards.

STEP 3: How to Buy Bitcoin Today – 12:29
Now you’re ready to Buy Bitcoin. I highly recommend using either the Gemini Cryptocurrency Exchange or Coinbase (referral links at the top). Both are great options with strong reputations and great user interfaces.

If you want to avoid higher fees, be sure to use the Gemini ActiveTrader exchange or Coinbase Pro. Transaction fees are immensely less and you have more control with different order types.

STEP 4: Safely Store your Digital Assets – 17:48
Cold wallets or hardware wallets give you the most security and safety. You fully own the private keys and they’re offline, meaning that hackers cannot steal your Bitcoin. The Trezor and Ledger hardware wallets have both been around for a long time and have great reputations.

Civic is a strong digital hot wallet. It’s the only digital wallet that offers a $1 Million USD Crypto Protection Guarantee for your Bitcoin. There are no passwords or seed phrases. Civic uses your identity to recover your crypto if you ever lose your phone.

STEP 5: Automate Taxes – 24:34
Like many other people, I personally use Taxbit which offers automated crypto taxes and portfolio management. It’s designed by CPAs and tax attorneys and allows you to connect all of your crypto transactions across every exchange so that you can accurately file your taxes, manage your portfolio, and make tax optimized trades. ►Signup here and get 10% off:

Dollar-cost averaging (DCA) involves buying smaller amounts of an asset at regular intervals, regardless of price gyrations, instead of investing the entire amount at one time. DCA in bitcoin has historically been a very profitable strategy that lowers risk.

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DISCLAIMER: This description contains affiliate links, which means that if you click on one of the product links and make a purchase, I’ll receive a small commission. I’m NOT a financial advisor. You’re responsible for your own financial decisions, meaning that you need to do your own research before buying Bitcoin or any other crypto asset.

#bitcoin #cryptocurrency #gemini



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