A SHORT GUIDE TO BUYING, STORING AND INVESTING IN BITCOIN How to Buy Bitcoin on

A SHORT GUIDE TO BUYING, STORING AND INVESTING IN BITCOIN How to Buy Bitcoin on a Bitcoin Exchange and Store It Yourself 1. IdenGfy a bitcoin exchange that’s approved in your country, and open an account The process for buying bitcoin is similar for most exchanges and usually requires a passport copy and, should you want higher deposit and withdrawal limits, a proof of residency: • United States – we recommend Coinbase for buy and hold types or Kraken if you’re interested in possibly trading • Europe – we like Kraken, which has the deepest EUR/BTC order-book; also, the Dutch online shop Bitonic has a good reputaJon • Asia – we suggest BTCC, Itbit or Asia Nexgen • If you are from a country with difficult access to the Western banking system, check out this list of major bitcoin exchanges/wallets around the world, and the payment opJons they allow. Once you've setup your account, you'll probably need to link an exisJng bank account and arrange to move funds between it and your new exchange account via wire transfer. 2. AOer you’ve bought bitcoin, withdraw it from the exchange and place in cold storage Unless you’ve invested only a very small amount, it’s not advisable to let your bitcoins sit on the exchange aUer you’ve purchased them. Even though security on the exchanges is improving, none are insured against theU and hacks sJll happen. Cold storage can be as simple as keeping your key and address on a printed document in a safe, or encrypted on a thumb drive…or both. However, don’t lose it – there is no alternaJve to retrieving it. Once lost it’s gone forever. The easiest first step for storage is to open an account with a Bitcoin bank. We recommend Xapo for several reasons: • Xapo has raised over $40 million and is custodian of the largest amount of bitcoins in the industry • Founder and CEO Wences Casares has a 20-year track record as an internet and fintech entrepreneur • The Bitcoin bank has rigorous security procedures and the bitcoins Xapo safekeeps for its clients are fully insured by third party insurance companies If you prefer to take Bitcoin storage in your own hands, we recommend addiJonally buying a hardware wallet. This is a device that allows you to keep your private keys completely offline (protecJng you from thieves using spyware), while sJll enabling you to keep the flexibility of an online wallet. Our favorite hardware wallet is the Trezor device, designed by the creator of the first Bitcoin mining pool. With Trezor, a quick pin code gives you access to all your coins. And should you lose it, you can completely regenerate your wallet by using the 12 word recovery code. Trezor’s enJre operaJng code is open-source, which means that anyone can verify that there are no backdoors installed that could allow third parJes to snoop into your personal finances. As an alternaGve, you can invest indirectly in bitcoin via a bitcoin fund. If you plan to invest $50,000 or more in Bitcoin, you may want to consider one of the Bitcoin funds. • Bitcoin Tracker One and Bitcoin Tracker EURO are exchange-traded notes (ETNs) that offer easy and secure exposure to Bitcoin. Both trackers are designed to mirror the return of the underlying asset, U.S. dollar (USD) per bitcoin. Make sure to read the prospectus thoroughly. • Other Bitcoin fund alternaJves are the Global Advisors Bitcoin Investment Fund on the Island of Jersey, and Malta-based Exante. Contact the firms directly for more informaJon. Capitalist Exploits Insider How to Buy and Store Bitcoin 82 • The bitcoin investment trust GBTC is another opJon. The shares are publicly traded and can be bought directly through tradiJonal brokers. We do however recommend buying shares directly through Grayscale at NAV (net asset value) versus buying the publicly traded shares at the current premium. Note: The shares bought directly through Grayscale cannot be resold publicly for a period of 12 months and so this needs to be considered as well. Capitalist Exploits Insider How to Buy and Store Bitcoin 83 Unauthorized Disclosure Prohibited The informa,on provided in this publica,on is private, privileged, and confiden,al informa,on, licensed for your sole individual use as a subscriber. Capitalist Exploits reserves all rights to the content of this publica,on and related materials. Forwarding, copying, dissemina,ng, or distribu,ng this report in whole or in part, including substan,al quota,on of any por,on of the publica,on or any release of specific investment recommenda,ons, is strictly prohibited. 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  • Publié le Aoû 15, 2022
  • Catégorie Business / Finance
  • Langue French
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