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You Don’t Have to Buy an Entire Bitcoin
Many people think that in order to get into Bitcoin they have to buy an entire coin. Nope! You can buy as little as $1 worth (0.000088 BTC currently). If Bitcoin doubles or triples in price again, your investment will go up or down with it.
When I finally decided to buy some, I spent $100 and got about .0175 Bitcoin. It’s enough to “own” some, and yet not be too worried about a price drop. If you spend $100 buying Bitcoin from Coinbase using this link, they will give you an additional $10 worth. So, yay free money!!
Setting up an account with Coinbase is similar to setting up a bank account. They need quite a bit of personal information because they are a US regulated financial service company and must remain in compliance with KYC/AML laws. Because they are similar to a bank, United States residents who use Coinbase’s USD wallet are covered by FDIC insurance, up to a maximum of $250,000. They are also currently the most trusted way for US citizens to purchase Bitcoin and other altcoins.
You will want to use a difficult password for your account, and I definitely recommend setting up two-factor authentication as well. Coinbase has many options for keeping your account secure, including email notices for almost every activity. If someone gets your password and steals your coins, you will not be able to recover them. So be smart and be careful with your passwords.
**Please note, Coinbase has recently changed how they handle credit card purchases of cryptocurrency. They are now submitted as cash advances, and you will have additional fees if you use a credit card. I recommend using a debit card or an ACH transfer from your bank account.**
If you have any questions, or if you found this information helpful please leave a comment below! I would also love it if you shared this article on Twitter, Facebook, or your favorite social media.