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I have been helping friends get into bitcoin and hell I just wrote a guide. This is an Australian guide and updated as of December 2017

  1. Sign up to both btcmarkets.net (Aussie exchange) and www.bittrex.com (largest exchange) These two will cover cheap bitcoin in AUD and alternative coins
    • Immediately start verification process for both and connect bank account for BTCMarkets. The verification process can take 1-2 weeks
  2. Securing account
    • Go to BTCMarkets and enable 2FA – 2 factor authentication.
      • Download Google authenticator on phone
      • When you see the QR code DON’T SCAN IT! PRINT OUT A COPY FIRST. In fact, print two copies. One for you and one for someone you trust. Do not take photos of this code. Hide this paper somewhere safe in case you lose your phone.
      • Scan the QR code into Google authenticator
    • Log out and log back into BTCMarkets using 2FA
    • Repeat for Bittrex
  3. Transferring money from bank to BTCMarkets
  4. BUYING BITCOIN!!! And others
    • Log into BTCMarkets and visit https://www.btcmarkets.net/trading/buysell
    • purchase as follows: (As of Dec 2017)
      • 60% buy BTC/AUD (Bitcoin) at Best sell price
      • 10% buy BCH/AUD (Bitcoin Cash as a hedge against Bitcoin) at Best sell price
      • 10% buy LTC/AUD (Litecoin is Bitcoin’s faster sister) at Best sell price
      • 20% buy ETH/AUD (ETH is the ‘operating system’ for a lot of other coins) at Best sell price
    • Best time to buy is right now, but better when the news isn’t talking about all time highs. You now own some crypto!
  5. Transfer Bitcoin to Bittrex.com
    • Log into https://bittrex.com/Balance and look for Bitcoin under Account balances. Click on the Plus (+) symbol on the left. A pop up appears with an address and QR code. Copy the wallet addres. It’s usually a 32 character random address.
    • Goto https://www.btcmarkets.net/account/withdraw and look for the Bitcoin box. PASTE the address from Bittrex into here.
      • Withdraw only HALF your bitcoin.
      • Processing time can take 30 minutes to 4 hours.
  1. Buy more coins on bittrex

That’s it! You’re in the game 😊

What next?

Log out and don’t bother coming back to look again until 3 months later.

I will call you if a dire situation happens (unlikely)

 Optional but recommended – Storing your crypto coins offline.

If an exchange dies or gets hacked (e.g. Mt Gox incident where bitcoin dropped 90%) then you lose your coins forever. A hardware wallet is recommended.

It is basically a USB with security encryption on it.

Goto www.ledgerwallet.com/r/8bed?path=/products/ledger-nano-s&tracker=8bed and order a Ledger Nano S (that’s my affiliate link).

One off fee, no ongoing costs with the wallet

 

Why not other coins like Metaverse, Verge, SAFEX, Vertcoin, etc, etc?

I could recommend other coins, but nobody is a believer in crypto until gains are made. These coins will definitely give some gains in this current bull market. It is then that they will investigate smaller coins if they wish.