Buy/Sell

IMPORTANT:

The following steps to buy, sell and trade Bitcoin, Ethereum, Ripple and other cryptocurrencies or tokens are presented as informational purposes only.  We are not investment advisors and the information provided must not be considered as advice.  Our goal is to provide simple solutions to enter into, what is now, the most exciting technological revolution since the invention of the internet.  Please remember to do your own due diligence before investing.

We are preparing a video guide for our members.  if you would prefer to continue without the guide, the following steps are the most secure and beginner friendly in our opinion (Coinbase being the most popular in the world to buy and sell cryptocurrencies with revenues of over $2.7 million per day).

The quick and easy:

  1. Open an account with Coinbase
  2. Buy Etheruem with credit /debit card (Bitcoin, Bitcoin Cash and Litecoin also available) .
  3. Your purchases will appear in respective wallets.
  4. REMEMBER: Each currency has it’s own wallet (Ether wallet for Ether, Bitcoin wallet for Bitcoin, etc).
  5. Withdrawing US Dollar from Coinbase for US Customers:
    “When you place a sell order or withdraw USD to a US bank account, the money usually arrives within 4-6 business days. The delivery date will be shown on the trade confirmation page before your order is submitted. You can see when the funds are expected to arrive on your History page. If you reside in one of the states that support the Coinbase USD Wallet, sells into your USD Wallet will occur instantly”.-Coinbase

To set up your accounts and MetaMask Chrome extension and trading, the steps are as follows:

  1. Download the Chrome browser extension called MetaMask.  Please follow ALL instructions given in each step of the installation to protect your account.
  2. Create a wallet for ethereum by going to www.myetherwallet.com. Download your JSON File (Javascript Object Notation) and your printed Private Key to a safe (preferrably encrypted) storage device. Treat this like your bank account and never allow anyone else access to your JSON file or your Private Key.
  3. Open an account with Coinbase (world’s most popular and works well with MetaMask.)
  4. Click the “Buy” button on MetaMask.
  5. Coinbase will be listed under “SELECT SERVICE”.
  6. Click “Continue to Coinbase”.
  7. A new window will open that links your Coinbase account with MetaMask.
  8. Coinbase will ask for your email address, password and send you a text (SMS) code to verify.
  9. Type the dollar amount you wish to buy and click “Continue”
  10. Your payment method will be shown.  Click “Continue”.
  11. Confirm the amount, payment method and transactional fee.  Click “Buy”.
  12. Your purchased Ethereum (or Bitcoin) will appear on MetaMask.
  13. You can test sending your Ether to an exchange (or a donation to our Ether address would be appreciated – 0xEFb182A499F59ffF4a048B30b6bf5dA194F0ce07)
  14. To trade with other currencies:

    1. Open an account with a trading exchange like Binance.
    2. Under “Funds” click on “Deposits”.
    3. Look for the CORRECT currency (again, Ether will only deposit into Ether Wallet).
    4. When you click on the CORRECT currency, it will display your newly created wallet/address.
    5. REMEMBER: Bitcoin can only be deposited into Bitcoin address, Ether to Ether address, etc.
    6. When you open an account on an ANY exchange, locate the deposit button for Ether (Symbol ETH) if you’d like to use Ether as base.
    7. Copy that address (it is your wallet/account for Ether on that exchange).
    8. Open MetaMask, click “Send” button, paste the address you just copied and click “send”.
    9. When you click the “Sent” folder/button, you will see the transaction you just made.  Click on the transaction.
    10. This will take you to Etherscan to confirm the transaction.

    “Etherscan is the leading BlockExplorer for the Ethereum Blockchain. A BlockExplorer is basically a search engine that allows users to easily lookup, confirm and validate transactions that have taken place on the Ethereum Blockchain”.

    PLEASE REMEMBER THE FOLLOWING:

    • NEVER GIVE OUT YOUR PRIVATE KEY
    • WRITE DOWN WHAT’S CALLED THE “SEED WORDS” (ONLY WAY TO RETRIEVE YOUR ACCOUNT).
    • MAKE SURE YOU HAVE THE CORRECT WALLET ADDRESSES EVERYTIME YOU MAKE A TRANSACTION


    We suggest starting with a small amount with Coinbase:

    You can open an account with Coinbase to start with a small amount using your debit/credit cards until you are more familiar with the process and the different exchanges.  You can also keep your Ethereum and Bitcoin in Coinbase using their wallets (like bank accounts) provided for you. But MetaMask on your browser allows you hold on to your Ether.

    Why Ether? Many cryptos and tokens cannot be purchased with US Dollar, debit/credit cards or bank accounts at trading exchanges.  They must be traded with Bitcoin or Ethereum.  Therefore, purchasing Bitcoin (BTC) or Ethereum (ETH) is required.  Also, not all exchanges are alike and have the same listings and pairing options (e.g. BTC/XRP – trading Bitcoin for Ripple, or ETH/GNT – trading Ether for Golem).

    DISCLOSURE:

    We use Coinbase to buy, Metamask to store and Poloniex to trade with other promising  cryptocurrencies and tokens.  For more advanced trading, Binance is one of our top choice.

    We hope this will help you get started until you are familiar with trading cryptocurrencies.  Please help us by sharing this page on social media or making a small donation of Ether.

    Coinmama: Buy Bitcoins with Credit Card  coinbase400x400