With Bitcoin (BTC) hitting over $11,000 USD, my friends have been asking me how to get started with a BTC wallet and converted fiat money to Bitcoin. Fiat money can be thought of as physical currency such as the US Dollar.
I created an easy guide to get started using Coinbase and GDAX.
We use Coinbase to create a digital wallet where you can securely store cryptocurrency. We’ll then create a GDAX account to convert USD to BTC. Coinbase and GDAX are owned by the same company (Coinbase) but GDAX is an exchange with better buying/selling options and faster processing. Coinbase is more of a digital wallet, but has a better user interface.
- Sign up with Coinbase
- Verify your email and sign in
- Complete your profile and select individual account.
- Deposit USD into your account but do not buy any cryptocurrencies.
1. Sign up with GDAX
2. Verify your identity and sign in.
3. On the left hand side, click on deposit
4. Transfer money from your Coinbase account
5. You can now buy Bitcoin (BTC), Litecoin (LTC), or Ethereum (ETH) currencies with smaller fees.