My crypto journey actually began on MoneyLion, an online banking app that has many benefits. They recently added a new feature that makes it possible to buy Bitcoin and Ethereum, granted with a pretty bad exchange rate (your going to be buying for more than its worth and selling for less) but it's other features MORE than make up for it like the Credit Builder loan that gives you money upfront, which is unheard of when it comes to a Credit Builder loan, to cash advances between paychecks, in my case up to $500. It's a banking app worth checking out. Referral if interested is https://cb.run/rQXt
Anyways this is not about MoneyLion though Moneylion can be used to fund the main topic of this discussion. Also even though it is considered by many as a pre-paid card, Chime also works but does not offer the same features as MoneyLion ....shameless plug once again referral for MoneyLion https://cb.run/rQXt
So my journey began there, watching the price go up and down on Bitcoin. I realized real quick that I was not going to make more than a few dollars here and there with that type of set-up so I started looking elsewhere.
As I began looking I saw all sorts of different things that made me feel old and behind on the times. Wallets?... I have one of those I right?, Dex's?, Staking?, Dapp's?...Is that like dudes that look sharp in fancy clothes?, like Dapper Dan's? All this made me hungry for a Dagwood sandwich(Dad would be so proud)... I was not sure where to even begin and then behold, advertising saved the day like Mad Men on AMC, and Coinbase was the clear answer.
Why Coinbase you might ask? What makes Coinbase the front runner of exchanges for a crypto newbie? The answer is simple.... It's simple.
First off with Coinbase there is almost no minimum deposit amount, you can start buying Bitcoin or any crypto with as little as $1. This is helpful when it comes to playing around and getting comfortable. Most exchanges have minimum purchase orders of $20 or more. As well as a very low minimum purchase order the withdrawal amounts are also low. Once again most exchanges have withdrawal amounts of $10-$20 and some, like in the case of Crypto.com, have withdrawal minimums of $100 which is not very friendly to the person who is trying to just "get their toes wet" so to speak.
Second is the ease of use. Coinbase has a feel to it that is very friendly. The interface of the app is simple and intuitive to the point that even though it was my first time using it I was able to find the basic things I needed. Despite the ease of use and the simplistic layout it also has the advance features that the crypto newbie doesn't yet have a need for but will be needing as their journey continues, like sending crypto off-exchange to a wallet, or receiving crypto from a wallet so that it can be traded. These features will give you the ability to move your crypto around and play with it on things like Dex's when that time comes.
Last, but definitely NOT the least thing about Coinbase that you will just love, and I know I did!!! Is the Coinbase "Learn and Earn" feature. That consist of watching some videos and answering some questions. But what if I get the answers wrong? No worries, because if at first you don't succeed you will be able to try and try again till you get the right answer. Which means you will NEVER miss out on this freebie. Upon sign-up you will most likely have 4 to 5 courses you can take that will earn you somewhere between $20-$35 in crypto, the number was $35 for me but that was 3 months ago and the crypto market was in a bit better shape then(Bitcoin was around $65,000). Each course is based on a different crypto and covers things like the purpose or application of each currency, or how to participate in advance crypto features like "Staking" which is something Coinbase gives you the ability to do on a handful of coins but in a very simple way(I suggest starting staking with ALGO). Also when it comes to learning crypto basics Coinbase is chocked full of articles and news headlines that will help you learn more and more.
All in all if you are looking for the simplest way to get into the world of crypto then Coinbase is where you should get your start. Yes it's considered a CEX a.k.a. centralized exchange, which most crypto "Pros" will tell you is a "Bad thing" but I feel even as a "Pro" this exchange has value due to its features like "Learn and Earn." One of these "Learn and Earn" lessons taught me about what will be my next post... The app I like to refer to as my "Double Earner" the browser that pays for your basic attention, Brave.
If this post moves you to give Coinbase a try then please sign-up using this link https://cb.run/5Co9
Yes using that link will give me a bonus. Its $10 dollars of bitcoin when you trade a $100 but you will also receive $10 in bitcoin. Between that sign-up bonus and the "Learn and Earn" my first $100 turned into $145, and with a few beginner trades $145 quickly became $200(MANA/DECENTRALAND to the moon).
Hope this helps you find out where to begin on your crypto journey and PLEASE read my next, and what will be second post about what should be EVERYONES next step on that journey, because you will see that my favorite app, what I call my "Double Earner" is a must have for any crypto Rookie or Pro, and I will be writing about it in the coming days... but first by all means please "get your feet wet" and head to Coinbase.
Good luck, and until next time may you have good fortune and best wishes to you on your "Journey to Crypto"
All links shortened by CryptoTab browser, a mining app designed to bring you passive income that also has a built in URL shortener app that will generate passive income when your shortened links are clicked on. Referral link listed here https://cryptotabbrowser.com/30401409 and in resources. Other links in resources- MoneyLion, Chime, and of course Coinbase!