Internet technology is not just about websites and mobile apps, there are a ton of new technologies emerging every day. Today we’ll be discussing bitcoin. This post is specifically targeted toward those with little to no experience and want to simply get started.

You’ve heard about it, you’ve read about it, you’ve seen it on the news, but you have no idea where to start. And that’s ok, the technology behind Bitcoin (the blockchain) can be confusing to those not in the technology sector. As Bitcoin approaches $10,000 per coin, it’s important to know that you don’t need to buy an entire coin – you can invest as much or as little as you like. Starting with $100, you can buy a fraction of a coin, and “get your feet wet” to see if you are interested in purchasing more.

Bitcoins are traded on various exchanges, but today we’ll focus on the simplest one, Coinbase, the largest and easiest Bitcoin exchange. They are well-invested and insured. See here:

https://www.wsj.com/articles/coinbase-raises-75-million-in-funding-round-1421762403

Coinbase is an entry-level exchange for the sole purpose of making the process of buying, selling and storing bitcoins simple and easy for new users. You simply sign up and buy bitcoins, it’s really that straightforward.

The process is quite easy.

1. Sign up for Coinbase

This first step is to sign up for a Coinbase account. This will give you a secure place to store your bitcoin, and easy payment methods to convert your local currency into or out of bitcoin.

Sign up here ›

2. Connect Your Bank Account

After you sign up, connect your bank account. You’ll need to complete some verification steps before you can use the account. Once the verification steps are complete, you can start a purchase. You can also buy with your credit card, but the fees are slightly higher.

3. Buy and Sell Bitcoin

After starting your first purchase, Coinbase will complete your buy and deliver your bitcoin. (Sells work the same way but in reverse). The price of bitcoin changes over time, so they’ll show you the current exchange rate before you buy.

That’s the basics of it. Coinbase offers a small bonus for signing up, if you buy or sell $100 USD of bitcoin, you’ll be given $10 USD of bitcoins for free.

While there is no guarantee you’ll make money trading bitcoin, it can be an exciting ride, and you get to take part in what will be a historical moment in global finance.

As an alternative to Bitcoin (BTC), there are other coins as well, the two most popular being Ethereum (ETH) and Litecoin (LTC). After you’ve experienced your first buy in BTC, you can diversify your cryptocurrency portfolio with alt-coins – but we’ll save that for another post.

As with any financial endeavor, there is risk involved, and as such, never buy or invest more than you can afford to lose.

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