Your Guide to Buying Bitcoin and Holding Safely

The world of Cryptocurrency is exciting, and Bitcoin (BTC), the OG of them all, the Original Cryptocurrency, created by the mysterious Satoshi Nakamoto is a natural place for beginners to start investing. 

It can be overwhelming buying and holding Bitcoin. We hope to break down the basics, guiding you through where to buy BTC, how to keep it safe, and even explore some alternative investment options such as ETFs

Finding Your Exchange To Invest:

Like a stock exchange, but for cryptocurrencies. That's what a cryptocurrency exchange offers. These online platforms are where you'll buy your Bitcoin. Here's what to look for when finding your exchange. 

• Security is King: Make sure the exchange has a strong reputation for keeping your funds safe. Look for features like two-factor authentication and regular security audits.
• Google Authenticator: Find a marketplace that uses Google Authenticator adds an extra layer of security to your online accounts by generating unique codes on your phone for login, making it harder for hackers to steal your credentials.
• Beginner-Friendly Interface: A user-friendly platform is key, especially if you're new to crypto. Don't get bogged down by complicated interfaces. For example if using Binance or Kraken opt for the basic interface instead of the pro interface 
• Fees Matter: Exchanges charge fees for buying and selling crypto, these are called “Gas Fees”, Compare fees before you choose an exchange to avoid unwelcome surprises when buying or selling. 

Here are a few popular options known for being beginner-friendly:

• Coinbase: A great starting point with a user-friendly interface.
• Binance: Offers a wider range of Cryptocurrencies. 
• Kraken: Offers two-factor authentication and a good looking interface

Keeping Your Bitcoin Safe: Outside Of Exchanges. 

If you’ve opted not to use an exchange to hold your Cryptocurrency, Once you've bought your Bitcoin, you need a secure place to store it. Unlike cash, Bitcoin lives in the digital world. Here's where wallets come in:

• Cold Wallets: These are hardware wallets that store your Bitcoin offline on a physical device, like a Ledger wallet. These offer superior security as they're isolated from the internet. Ledger wallets typically use a PIN for access and generate a seed phrase for recovery, which is basically a master password for your wallet.

The Seed Phrase: The Key to Your Crypto

When you set up a cold wallet, you'll be given a seed phrase. This random sequence of words acts like a master password for your Cryptocurrency. Treat it with the utmost importance!

• Never share it with anyone, not even friends or family.
• Keep it offline. Don't store it electronically where it can be hacked.
• Write it down on paper and store it in a safe place.
• Don’t lose it!!

Alternative Avenues: Exploring Bitcoin ETFs

If directly buying Bitcoin seems intimidating, consider Bitcoin ETFs (Exchange-Traded Funds). These function similarly to stocks, allowing you to invest in Bitcoin without needing to store it yourself. Keep in mind, ETF availability can vary by location:

• US: Several Bitcoin ETFs are available, traded on major stock exchanges.
• UK: The regulations surrounding Bitcoin ETFs are still evolving. However, there are a few options available that track Bitcoin futures contracts, at the time of writing this I haven't found a good option for this. 

Miscellaneous Tips: 

• Never give out your wallet address to anyone you don’t trust.
• When sending Cryptocurrency, ensure you double check the wallet address is correct, 2 or 3 times. We’ve all seen horror stories online!
• Follow Industry experts to learn more about BTC and Altcoins. 
• Only invest with what you can afford to lose

Bitcoin is a fast-paced investment, and its value can fluctuate significantly. Always do your research before investing, and only invest what you can afford to lose. Happy adventuring into the world of Bitcoin!