Hello and welcome back to another cryptocurrency
video and this one I’m looking in setting up your first cryptocurrency account and Coinbase.
Now I chose Coinbase because this is one of the simplest places to get your self up and
running and it’s generally one of the first places people go as you can see we’ve traded
20 billion in cryptocurrency exchange. Thirty two countries are supported and ten point
eight million customers. Pretty simple process you sign up for an account and gives you a
digital wallet which has all of the privacy features you would expect as private keys
and that type of thing you connect your bank account debit card or credit card so that
you can change your digital currency into your local currency. So for example if you
live in London you can change bitcoin into British pounds for example. And then of course
you just buy the currency and you sell it when it’s time to get rid of it. There are.
Some major advantages using Coinbase because it gives you a currency wallet you don’t go
out and get a third party currency wallet. They have secure storage. They secured off
line. You do have the ability to set up a recurring buy so you can buy every week or
every month a set amount. You also have insurance production it’s protection it’s FDIC insured
which is banking insurance in the United States very important. There are merchants out there
that take Coinbase transactions. So that’s very important. And you can get you know your
charts here gives you an idea want what we’ve been doing. There’s a yearly chart of a theorem.
You can really kind of look into some of the other products as well the g g Dax is the
more professional end of things. But this is generally where people start. If you want
to get into more old coins for example some of the lesser traded coins. So for example
Monaro you may have to get another exchange but Coinbase seems to be where people start.
So that’s why we’re looking at it here again though with it being FDIC insured that is
huge because it gives us a certain amount of legitimacy legitimacy that most exchanges
just can’t match. Again though you’re only looking at Bitcoin at theorem and like coin.
But those are the three biggest currencies out there. You get everything integrated in
one account certainly offer simplicity.