🕷️ Crawler Inspector

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Raw Queries and Responses

1. Shard Calculation

Query:

Response:

Calculated Shard: 109 (from laksa033)

2. Crawled Status Check

Query:

curl -X POST \
  'http://laksa109.int.ahrefs:8124/' \
  -H 'Content-Type: text/plain' \
  -H 'X-ClickHouse-Database: crawler3' \
  -H 'Authorization: Basic YXBpOg==' \
  -d 'SELECT getAhrefsURLFromUnparsed(src_unparsed) AS found_url, ifNull(toUnixTimestamp(download_stamp), 0) AS crawl_time, ifNull(toUnixTimestamp(props_url_first_seen), 0) AS first_indexed_time, download_http_code AS http_code, src_unparsed AS src_unparsed, src_root_hash AS src_root_hash, history_drop_reason AS history_drop_reason, meta_title AS meta_title, meta_descriptions AS meta_descriptions, attrs_boilerpipe_text AS attrs_boilerpipe_text, attrs_markdown AS attrs_markdown, attrs_readable_markdown AS attrs_readable_markdown, meta_canonical AS meta_canonical FROM crawler3.page_info_local FINAL PREWHERE (src_root_hash, src_unparsed) IN ((getAhrefsRootHashFromUnparsed(getAhrefsUnparsedNoserviceFromURL(\'https://www.pcmag.com/how-to/how-to-buy-sell-and-manage-bitcoin\')), getAhrefsUnparsedNoserviceFromURL(\'https://www.pcmag.com/how-to/how-to-buy-sell-and-manage-bitcoin\'))) FORMAT JSONEachRow'

Response:

{"found_url":"https:\/\/www.pcmag.com\/how-to\/how-to-buy-sell-and-manage-bitcoin","crawl_time":1776774648,"first_indexed_time":1635166026,"http_code":200,"src_unparsed":"com,pcmag!www,\/how-to\/how-to-buy-sell-and-manage-bitcoin s443","src_root_hash":"15303950204440063509","history_drop_reason":null,"meta_title":"Bitcoin for Beginners: Simple Tips to Get Started With Crypto | PCMag","meta_descriptions":["You don't need to be a millionaire to invest in crypto, but you do need to be cautious and realistic about potential returns on investment. Here's how to set up a crypto wallet and buy some Bitcoin."],"attrs_boilerpipe_text":"Are you finally ready to take the plunge into the world of cryptocurrencies? It may seem complicated, but with a little research, beginners can be buying and selling Bitcoin in no time.\nBitcoin is the most ubiquitous digital currency on the market, so we'll show you the ropes on buying, selling, and storing it. However, these tips can apply to other cryptocurrencies like Ethereum (or even Dogecoin, if that’s your thing).\nWhat to Know Before Buying Bitcoin\nAt the time of this writing, the\nvalue of 1 Bitcoin\nis just shy of $40,000. But don’t worry, you can still buy Bitcoin in fractional amounts even if you aren’t obscenely wealthy. Before you buy your slice of Bitcoin pie, however, there are a few things you’ll need to do first. These include: \nSet up an account with a reputable cryptocurrency exchange. \nCollect the documents needed to verify your identity for\nKnow Your Customer (KYC)\nexchanges.\nGet a cryptocurrency wallet.\nSet up your wallet.\nMake sure you have a fast, reliable internet connection. \nYou’ll also need to go into the experience with an understanding that cryptocurrencies—and Bitcoin in particular—can be volatile, drastically changing in value from one day to the next. With that in mind, never invest more than you can afford to lose when purchasing cryptocurrency.\nChoose a Cryptocurrency Wallet\nLedger Nano S\nBefore you buy digital currency, you need a place to store it, and that’s where\ncrypto wallets\ncome in. They’re known by several names—hot wallet, hardware wallet, software wallet—but come in two main types:\nCold Wallet\n: A physical, hardware-based digital wallet for storing cryptocurrency that isn’t connected to the internet, akin to a very high-tech flash drive for storing cryptocurrency. Cold wallets come with multiple layers of security, and are more difficult to hack than an internet-connected wallet. \nHot Wallet\n: A software-based digital wallet that is connected to the internet and often comes in the form of an app. \nOver the years, certain companies have emerged as reliable crypto hardware wallet manufacturers.\nLedger\n, for example, has been making cold wallets for years now and could be a good place to start.\nTrezor\nis another big name in the hardware wallet space.\nIf you want to go with a digital wallet, most major cryptocurrency exchanges package an online wallet with your user account.\nCoinbase\n, maybe the largest cryptocurrency exchange out there, does this. Its wallet is highly rated, and you don’t need a Coinbase account to use its app.\nOur Top-Rated Bitcoin Wallets\nAtomic Wallet\nVisit SIte\nat\n                                                Atomic Wallet\nSee It\nBitpay Wallet\nLearn More\nat\n                                                GitHub\nSee It\nCoinbase Wallet\nLearn More\nat\n                                                Coinbase\nSee It\nElectrum Bitcoin Wallet\nVisit Site\nat\n                                                Electrum Bitcoin Wallet\nSee It\nHuobi Wallet\nVisit Site\nat\n                                                Huobi Wallet\nSee It\nJaxx Liberty\nVisit Site\nat\n                                                Jaxx Liberty\nSee It\nMycelium Bitcoin Wallet\nVisit Site\nat\n                                                Mycelium Bitcoin Wallet\nSee It\nSet Up Your Cryptocurrency Wallet\nCoinbase app\nIf you’re using a software wallet (aka, a hosted wallet, since it’s hosted on third-party servers), you just create an account with a username and password and enable\ntwo-factor authentication\n. If you’re setting up your wallet as part of a cryptocurrency exchange account and that exchange uses KYC, you’ll need to provide documents like a driver’s license to verify your identity. \nNon-custodial hot wallets aren’t hosted by a third party and take more security measures than a standard hot wallet. Users get a randomly generated “private key” or “seed phrase” that they can use to access the wallet. These keys are usually around 12 words long and are known only by the user. It’s recommended that you store this passphrase somewhere safe and offline—it’s more difficult to hack that way. But if you lose the phrase,\nyou're locked out\nof your own wallet.\nCold wallets also generate a key phrase known only to the user that allows access to the wallet. This key phrase is usually a string of 24 randomly generated words, and you’ll also create a PIN to gain access. Cold wallets work together with apps and software on your smartphone or desktop device, so you’ll install them as needed when setting up a cold wallet. \nExodus desktop app\nA paper wallet is a type of cold wallet in which the public and private keys needed for a transaction are printed on a piece of paper for an extra measure of security. A transaction cannot be made without the information on the piece of paper, which is generated online and can then be printed. More often used for long-term or high-security investments, they’re intentionally slower to use than other kinds of cryptocurrency wallets. \nNo matter which wallet type you use, you'll need to link a payment method to it for purchases. That can be a bank account, or a payment service like\nPayPal\nor\nApple Pay\n. When submitting payment information, you’ll have to verify your identity.\nPick an Exchange\nGemini\nOnce you choose a wallet and set it up, it's time to find an exchange and make your first Bitcoin transaction. Not all crypto exchanges are regulated by the US Securities and Exchange Commission (SEC), so look for one that is. A few reputable and regulated crypto exchanges that are reasonably safe bets include:\nCoinbase\nKraken\nGemini\neToro\nCrypto.com\nYou’ll need to do some homework to determine which exchange is the best for your needs. Since Bitcoin is the original and most popular cryptocurrency, you can be reasonably sure that all the exchanges listed above will offer it. You may also want to look into what other cryptocurrencies they offer if you have plans to expand your portfolio.  \nGet Our Best Stories!\nGet the Most Out of Your Technology\nThanks for signing up!\nYour subscription has been confirmed. Keep an eye on your inbox!\nCrypto.com\nLook into each company and see what measures they take to keep people’s money safe. Are they insured? If so, for how much? What security measures do they use? Do they have a KYC policy for identity verification? Know the answers to all of these questions before you proceed. \nWhichever exchange you choose will require proof of identification—usually a driver’s license or state-issued ID if you’re in the US—when signing up. Being asked to submit proof of address and scans of additional documents like a passport is also a possibility.\nDo your research, choose an exchange, set up your account, fund it with some cash, and you’ll be ready to start buying Bitcoin. \nHow to Buy and Sell Bitcoin\nCoinbase.com\nNow that you’re ready to purchase Bitcoin, you’ll go through the process of buying however much you can afford. The process will be different depending on what exchange you use.\nSome just have a “buy” and “sell” button where you specify how much currency you want to purchase or sell off. Others have you submit an order similar to a conventional stock exchange. Most cryptocurrency exchanges let you buy and sell using three types of orders: \nRecommended by Our Editors\nMarket Order\n: An order to buy a set amount of Bitcoin at the current market price. This is very quick to execute and usually done in seconds.\nStop Order\n: Sets a price at which you want to buy or sell Bitcoin. This type of order can be used to sell Bitcoin at a high before it drops, but can take more time to execute than a market order.\nLimit Order\n: Instructs the exchange to buy or sell Bitcoin at a specific price or better. These are visible to the market, and can take longer than stop orders to complete. This can be good for buying Bitcoin once it comes down in price somewhat. \nkraken.com\nSome exchanges offer even more order types than the ones listed above. As of this writing, Kraken currently offers the\nmost order variety\n, including stop-loss and take-profit orders. Start with the basics listed above, and work your way up from there. \nAs cryptocurrencies have evolved and gained a measure of legitimacy in the public eye, crypto exchanges have grown with them into something that can be nearly equivalent to traditional stock exchanges. Some will even let you\nchoose a recurring dollar amount\nto invest every day, week, or month. \nVarious P2P cryptocurrency and Bitcoin exchanges also exist, but we recommend sticking to conventional exchanges to trade and buy Bitcoin, unless you know the person with whom you’re making a P2P exchange.\nMake a Plan and Manage Your Assets\nChoosing your investment strategy is important to success in investing. A common strategy is to buy and hold onto Bitcoin in the hopes of riding out the ups and downs in valuation for a higher average return.\nJPMorgan Chase analyst Nikolaos Panigirtzoglou favors this strategy. He recently\ntold Insider\nthat \"It is better to buy and hold, perhaps allocating a small portion of your portfolio to cryptocurrencies, focusing on the ones typically held by institutional investors, such as Bitcoin and Ethereum at the moment.\"\nAnother popular strategy is the dollar-cost-average (DCA) approach: buying a tiny bit of Bitcoin every week or month without paying much attention to the fluctuations in price. That way you continue to build your investment at a steady pace you set, holding onto it for the long term.\nExperts recommend allocating a very low percentage of your portfolio to cryptocurrency investments, especially when starting out. A single digit amount—like 5% of your total investment portfolio—is reasonable. And if you're wondering if you have to pay taxes on crypto, we\nanswer all your questions here\n.\nA Word of Warning\n(Credit: FTC)\nCrypto can be a fascinating investment prospect. The myriad uses of digital currency make it an interesting and enticing investment option, but every new investor should understand that they are in no way guaranteed massive returns on crypto investments. You’re more likely to lose money than become a billionaire overnight, so it’s worth reiterating: never, ever invest more than you can afford to lose. \nThere are so many different crypto scams out there these days—\nfake cold wallets\n,\nTwitter hacks\n,\nmining apps\n,\nscam calls\n, database\nhacks\n—that the FTC has issued a\nwarning to consumers\n. As such, we recommend you find a reputable wallet and exchange that offer robust security features. Use every single tool available to protect your assets so you'll be less likely to run into trouble long-term. \nAbout Our Expert\nJohn Bogna\nContributor\nExperience\nJohn is a writer\/photographer currently based in Houston, Texas. He's written on everything from politics to crypto wallets and worked as a photojournalist covering notable events like the Astros Victory Parade and the Day for Night Music Festival. Current hobbies include learning to shoot 35mm film, building Spotify playlists, and working his way through that menacing TBR stack on the nightstand.\nLatest By John Bogna\nRead Full Bio","attrs_markdown":"![](https:\/\/zdbb.net\/l\/z0WVjCBSEeGLoxIxOQVEwQ\/)\n\n[Skip to Main Content](https:\/\/www.pcmag.com\/how-to\/how-to-buy-sell-and-manage-bitcoin#main \"Skip to Main Content\")\n\nMenu\n\n- ![Maggie AI Logo](https:\/\/www.pcmag.com\/icons\/maggie-logo.svg)\n  \n  ![Maggie AI White Logo](https:\/\/www.pcmag.com\/icons\/maggie-logo-white.svg)\n  \n  Maggie: AI Product Finder\n- [\\#BestFreeSoftware](https:\/\/www.pcmag.com\/picks\/the-best-free-software)\n- Best Products\n  - [The Best Laptops for 2025](https:\/\/www.pcmag.com\/picks\/the-best-laptops)\n  - [The Best PCs (Desktop Computers) for 2025](https:\/\/www.pcmag.com\/picks\/the-best-desktop-computers)\n  - [The Best Tablets for 2025](https:\/\/www.pcmag.com\/picks\/the-best-tablets)\n  - [The Best Phones for 2025](https:\/\/www.pcmag.com\/picks\/the-best-phones)\n  - 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If you buy through affiliate links, we may earn commissions, which help support our [testing](https:\/\/www.pcmag.com\/about\/how-we-test-everything-we-review).\n\n1. [Home](https:\/\/www.pcmag.com\/)\n2. [How-To](https:\/\/www.pcmag.com\/how-to)\n3. [Personal Finance](https:\/\/www.pcmag.com\/categories\/personal-finance)\n4. [Cryptocurrency](https:\/\/www.pcmag.com\/categories\/cryptocurrency)\n# Bitcoin for Beginners: Simple Tips to Get Started With Crypto\nYou don't need to be a millionaire to invest in crypto, but you do need to be cautious and realistic about potential returns on investment. Here's how to set up a crypto wallet and buy some Bitcoin.\n\n[![John Bogna](https:\/\/i.pcmag.com\/imagery\/authors\/00s736Gof0LoJ3mthPuYHjN.fit_lim.size_100x100.v1633030503.jpg)](https:\/\/www.pcmag.com\/authors\/john-bogna)\n\nBy [John Bogna](https:\/\/www.pcmag.com\/authors\/john-bogna)\n\nUpdated April 22, 2022\n\n[Threads](https:\/\/threads.net\/intent\/post?text=https%3A%2F%2Fwww.pcmag.com%2Fhow-to%2Fhow-to-buy-sell-and-manage-bitcoin \"Threads (Opens in a new tab)\")\n\n[Bluesky](https:\/\/bsky.app\/intent\/compose?text=https%3A%2F%2Fwww.pcmag.com%2Fhow-to%2Fhow-to-buy-sell-and-manage-bitcoin \"Bluesky (Opens in a new tab)\")\n\n[Reddit](http:\/\/www.reddit.com\/submit?url=https%3A%2F%2Fwww.pcmag.com%2Fhow-to%2Fhow-to-buy-sell-and-manage-bitcoin&title=Bitcoin%20for%20Beginners%3A%20Simple%20Tips%20to%20Get%20Started%20With%20Crypto \"Reddit (Opens in a new tab)\")\n\nSocial Share\n\n![](https:\/\/i.pcmag.com\/imagery\/articles\/015t2XCInYI4JmscpwIFyrH-1.fit_lim.v1634848953.jpg)\n\n(Image: rzoze19 \/ Shutterstock)\n\nAre you finally ready to take the plunge into the world of cryptocurrencies? It may seem complicated, but with a little research, beginners can be buying and selling Bitcoin in no time.\n\nBitcoin is the most ubiquitous digital currency on the market, so we'll show you the ropes on buying, selling, and storing it. However, these tips can apply to other cryptocurrencies like Ethereum (or even Dogecoin, if that’s your thing).\n***\n## What to Know Before Buying Bitcoin\nAt the time of this writing, the [value of 1 Bitcoin](https:\/\/www.coinbase.com\/price\/bitcoin \"(Opens in a new tab)\") is just shy of \\$40,000. But don’t worry, you can still buy Bitcoin in fractional amounts even if you aren’t obscenely wealthy. Before you buy your slice of Bitcoin pie, however, there are a few things you’ll need to do first. These include:\n\n![PCMag logo](https:\/\/www.pcmag.com\/images\/pcmag-simplified.png)\n\n**You May Also Like**\n\n- Set up an account with a reputable cryptocurrency exchange.\n- Collect the documents needed to verify your identity for [Know Your Customer (KYC)](https:\/\/www.fool.com\/the-ascent\/cryptocurrency\/articles\/what-is-kyc-and-why-do-crypto-exchanges-require-it\/ \"(Opens in a new tab)\") exchanges.\n- Get a cryptocurrency wallet.\n- Set up your wallet.\n- Make sure you have a fast, reliable internet connection.\n\nYou’ll also need to go into the experience with an understanding that cryptocurrencies—and Bitcoin in particular—can be volatile, drastically changing in value from one day to the next. With that in mind, never invest more than you can afford to lose when purchasing cryptocurrency.\n***\n## Choose a Cryptocurrency Wallet\n![crypto wallet](data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%20768%20432'%3E%3Crect%20fill='%23f7f7f7'%20\/%3E%3C\/svg%3E)\n\nLedger Nano S\n\nBefore you buy digital currency, you need a place to store it, and that’s where [crypto wallets](https:\/\/www.pcmag.com\/picks\/the-best-bitcoin-wallets) come in. They’re known by several names—hot wallet, hardware wallet, software wallet—but come in two main types:\n\n- **Cold Wallet**: A physical, hardware-based digital wallet for storing cryptocurrency that isn’t connected to the internet, akin to a very high-tech flash drive for storing cryptocurrency. Cold wallets come with multiple layers of security, and are more difficult to hack than an internet-connected wallet.\n\n- **Hot Wallet**: A software-based digital wallet that is connected to the internet and often comes in the form of an app.\n\nOver the years, certain companies have emerged as reliable crypto hardware wallet manufacturers. [Ledger](https:\/\/www.ledger.com\/ \"(Opens in a new tab)\"), for example, has been making cold wallets for years now and could be a good place to start. [Trezor](https:\/\/trezor.io\/ \"(Opens in a new tab)\") is another big name in the hardware wallet space.\n\nIf you want to go with a digital wallet, most major cryptocurrency exchanges package an online wallet with your user account. [Coinbase](https:\/\/www.pcmag.com\/reviews\/coinbase-wallet), maybe the largest cryptocurrency exchange out there, does this. Its wallet is highly rated, and you don’t need a Coinbase account to use its app.\n***\n### [Our Top-Rated Bitcoin Wallets](https:\/\/www.pcmag.com\/picks\/the-best-bitcoin-wallets)\n### Atomic Wallet\n- Visit SIte at Atomic Wallet\n  [See It](https:\/\/cc.pcmag.com\/v1\/otc\/01r1WRIAJykbQgN4oGQ8FSi?merchant=06uvXXi5iZqx5zaOF89T6jE&url=https%3A%2F%2Fatomicwallet.io%2F&template=article-page&module=product-cards&element=product-card&item=buy-button&position=1&element_label=See+It&u=https%3A%2F%2Fwww.pcmag.com%2Fhow-to%2Fhow-to-buy-sell-and-manage-bitcoin&page_type=article&page_uuid=015t2XCInYI4JmscpwIFyrH&object_type=article&object_uuid=015t2XCInYI4JmscpwIFyrH&product_uuid=04T2XsdCnWHWbXBOocfGod6 \"(Opens in a new tab)\")\n\n### Bitpay Wallet\n- Learn More at GitHub\n  [See It](https:\/\/cc.pcmag.com\/v1\/otc\/01r1WRIAJykbQgN4oGQ8FSi?merchant=014sWohHNdiRyUStMcxYzJw&url=https%3A%2F%2Fgithub.com%2Fbitpay%2Fcopay&template=article-page&module=product-cards&element=product-card&item=buy-button&position=2&element_label=See+It&u=https%3A%2F%2Fwww.pcmag.com%2Fhow-to%2Fhow-to-buy-sell-and-manage-bitcoin&page_type=article&page_uuid=015t2XCInYI4JmscpwIFyrH&object_type=article&object_uuid=015t2XCInYI4JmscpwIFyrH&product_uuid=07K3YV9JGScMxeytVVbvEUM \"(Opens in a new tab)\")\n\n### BRD\n- Learn More at BRD\n  [See It](https:\/\/cc.pcmag.com\/v1\/otc\/01r1WRIAJykbQgN4oGQ8FSi?merchant=030ObYPaChf3wiGgmE2FBpd&url=https%3A%2F%2Fbrd.com%2F&template=article-page&module=product-cards&element=product-card&item=buy-button&position=3&element_label=See+It&u=https%3A%2F%2Fwww.pcmag.com%2Fhow-to%2Fhow-to-buy-sell-and-manage-bitcoin&page_type=article&page_uuid=015t2XCInYI4JmscpwIFyrH&object_type=article&object_uuid=015t2XCInYI4JmscpwIFyrH&product_uuid=01sVwjiwHeota0ecSvKMABs \"(Opens in a new tab)\")\n\n### Coinbase Wallet\n- Learn More at Coinbase\n  [See It](https:\/\/cc.pcmag.com\/v1\/otc\/01r1WRIAJykbQgN4oGQ8FSi?merchant=01T0JeVTt4UQ0HUxyTwCtul&url=https%3A%2F%2Fwww.coinbase.com%2Fbuy-bitcoin&template=article-page&module=product-cards&element=product-card&item=buy-button&position=4&element_label=See+It&u=https%3A%2F%2Fwww.pcmag.com%2Fhow-to%2Fhow-to-buy-sell-and-manage-bitcoin&page_type=article&page_uuid=015t2XCInYI4JmscpwIFyrH&object_type=article&object_uuid=015t2XCInYI4JmscpwIFyrH&product_uuid=0655DuhMRfQK1JQfUsC60hg \"(Opens in a new tab)\")\n\n### Exodus\n- \\$0.00 at Exodus\n  [See It](https:\/\/cc.pcmag.com\/v1\/otc\/01r1WRIAJykbQgN4oGQ8FSi?merchant=04XPkpxYuvwMra6Qehl6FIh&url=https%3A%2F%2Fwww.exodus.io%2F&template=article-page&module=product-cards&element=product-card&item=buy-button&position=5&element_label=See+It&u=https%3A%2F%2Fwww.pcmag.com%2Fhow-to%2Fhow-to-buy-sell-and-manage-bitcoin&page_type=article&page_uuid=015t2XCInYI4JmscpwIFyrH&object_type=article&object_uuid=015t2XCInYI4JmscpwIFyrH&product_uuid=05MW4FW5fFsvWdLWIFtFlPH \"(Opens in a new tab)\")\n\n### Electrum Bitcoin Wallet\n- Visit Site at Electrum Bitcoin Wallet\n  [See It](https:\/\/cc.pcmag.com\/v1\/otc\/01r1WRIAJykbQgN4oGQ8FSi?merchant=00DAup5ABXpJb93E71qsTHU&url=https%3A%2F%2Felectrum.org%2F%23home&template=article-page&module=product-cards&element=product-card&item=buy-button&position=6&element_label=See+It&u=https%3A%2F%2Fwww.pcmag.com%2Fhow-to%2Fhow-to-buy-sell-and-manage-bitcoin&page_type=article&page_uuid=015t2XCInYI4JmscpwIFyrH&object_type=article&object_uuid=015t2XCInYI4JmscpwIFyrH&product_uuid=01CdOW1QNdVKicyYPYc9JM1 \"(Opens in a new tab)\")\n\n### Huobi Wallet\n- Visit Site at Huobi Wallet\n  [See It](https:\/\/cc.pcmag.com\/v1\/otc\/01r1WRIAJykbQgN4oGQ8FSi?merchant=00k0u8M6fVwfLJjZUjP724V&url=https%3A%2F%2Fwww.huobiwallet.com%2Fen%2F&template=article-page&module=product-cards&element=product-card&item=buy-button&position=7&element_label=See+It&u=https%3A%2F%2Fwww.pcmag.com%2Fhow-to%2Fhow-to-buy-sell-and-manage-bitcoin&page_type=article&page_uuid=015t2XCInYI4JmscpwIFyrH&object_type=article&object_uuid=015t2XCInYI4JmscpwIFyrH&product_uuid=00AwXWlQsYxSR6ATSn055Bg \"(Opens in a new tab)\")\n\n### Jaxx Liberty\n- Visit Site at Jaxx Liberty\n  [See It](https:\/\/cc.pcmag.com\/v1\/otc\/01r1WRIAJykbQgN4oGQ8FSi?merchant=06XEvwHBI9f1X6eoK497xDW&url=https%3A%2F%2Fjaxx.io%2F&template=article-page&module=product-cards&element=product-card&item=buy-button&position=8&element_label=See+It&u=https%3A%2F%2Fwww.pcmag.com%2Fhow-to%2Fhow-to-buy-sell-and-manage-bitcoin&page_type=article&page_uuid=015t2XCInYI4JmscpwIFyrH&object_type=article&object_uuid=015t2XCInYI4JmscpwIFyrH&product_uuid=030ZYAONDnnJbDtBhMgqwbr \"(Opens in a new tab)\")\n\n### Mycelium Bitcoin Wallet\n- Visit Site at Mycelium Bitcoin Wallet\n  [See It](https:\/\/cc.pcmag.com\/v1\/otc\/01r1WRIAJykbQgN4oGQ8FSi?merchant=00S4nuRTjKd6luysY9f00bL&url=https%3A%2F%2Fwallet.mycelium.com%2F&template=article-page&module=product-cards&element=product-card&item=buy-button&position=9&element_label=See+It&u=https%3A%2F%2Fwww.pcmag.com%2Fhow-to%2Fhow-to-buy-sell-and-manage-bitcoin&page_type=article&page_uuid=015t2XCInYI4JmscpwIFyrH&object_type=article&object_uuid=015t2XCInYI4JmscpwIFyrH&product_uuid=06CqPoXjvZSw23lYJOaBCmp \"(Opens in a new tab)\")\n***\n## Set Up Your Cryptocurrency Wallet\n![coinbase app](data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%20768%20432'%3E%3Crect%20fill='%23f7f7f7'%20\/%3E%3C\/svg%3E)\n\nCoinbase app\n\nIf you’re using a software wallet (aka, a hosted wallet, since it’s hosted on third-party servers), you just create an account with a username and password and enable [two-factor authentication](https:\/\/www.pcmag.com\/how-to\/two-factor-authentication-who-has-it-and-how-to-set-it-up). If you’re setting up your wallet as part of a cryptocurrency exchange account and that exchange uses KYC, you’ll need to provide documents like a driver’s license to verify your identity.\n\nNon-custodial hot wallets aren’t hosted by a third party and take more security measures than a standard hot wallet. Users get a randomly generated “private key” or “seed phrase” that they can use to access the wallet. These keys are usually around 12 words long and are known only by the user. It’s recommended that you store this passphrase somewhere safe and offline—it’s more difficult to hack that way. But if you lose the phrase, [you're locked out](https:\/\/www.pcmag.com\/news\/cryptocurrency-exchange-locked-out-of-funds-after-ceos-death) of your own wallet.\n\nCold wallets also generate a key phrase known only to the user that allows access to the wallet. This key phrase is usually a string of 24 randomly generated words, and you’ll also create a PIN to gain access. Cold wallets work together with apps and software on your smartphone or desktop device, so you’ll install them as needed when setting up a cold wallet.\n\n![exodus](data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%20768%20432'%3E%3Crect%20fill='%23f7f7f7'%20\/%3E%3C\/svg%3E)\n\nExodus desktop app\n\nA paper wallet is a type of cold wallet in which the public and private keys needed for a transaction are printed on a piece of paper for an extra measure of security. A transaction cannot be made without the information on the piece of paper, which is generated online and can then be printed. More often used for long-term or high-security investments, they’re intentionally slower to use than other kinds of cryptocurrency wallets.\n\nNo matter which wallet type you use, you'll need to link a payment method to it for purchases. That can be a bank account, or a payment service like [PayPal](https:\/\/www.pcmag.com\/reviews\/paypal) or [Apple Pay](https:\/\/www.pcmag.com\/reviews\/apple-pay). When submitting payment information, you’ll have to verify your identity.\n***\n## Pick an Exchange\n![Gemini](data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%20768%20432'%3E%3Crect%20fill='%23f7f7f7'%20\/%3E%3C\/svg%3E)\n\nGemini\n\nOnce you choose a wallet and set it up, it's time to find an exchange and make your first Bitcoin transaction. Not all crypto exchanges are regulated by the US Securities and Exchange Commission (SEC), so look for one that is. A few reputable and regulated crypto exchanges that are reasonably safe bets include:\n\n- [Coinbase](https:\/\/zdcs.link\/pVpBZ \"(Opens in a new tab)\")\n- [Kraken](https:\/\/zdcs.link\/Kjn8G \"(Opens in a new tab)\")\n- [Gemini](https:\/\/zdcs.link\/3xLOM \"(Opens in a new tab)\")\n- [eToro](https:\/\/zdcs.link\/jBD8y \"(Opens in a new tab)\")\n- [Crypto.com](https:\/\/zdcs.link\/x02ed \"(Opens in a new tab)\")\n\nYou’ll need to do some homework to determine which exchange is the best for your needs. Since Bitcoin is the original and most popular cryptocurrency, you can be reasonably sure that all the exchanges listed above will offer it. You may also want to look into what other cryptocurrencies they offer if you have plans to expand your portfolio.\n\n![Newsletter Icon](https:\/\/www.pcmag.com\/images\/newsletter-envelope.svg)\n\n![Newsletter Icon](https:\/\/www.pcmag.com\/images\/newsletter-envelope.svg)\n\nGet Our Best Stories\\!\n\n### Get the Most Out of Your Technology\n![Tips, Tricks, and How-To Newsletter Image](https:\/\/i.pcmag.com\/imagery\/newsletters\/20200977-contextual.fit_lpad.size_250x140.v1752613922.png)\n\nSign up for the **Tips, Tricks, and How-To** newsletter for all of our best expert advice.\n\nSign up for the **Tips, Tricks, and How-To** newsletter for all of our best expert advice.\n\nBy clicking Sign Me Up, you confirm you are 16+ and agree to our [Terms of Use](https:\/\/www.pcmag.com\/terms) and [Privacy Policy](https:\/\/www.pcmag.com\/privacy).\n\nThanks for signing up\\!\n\nYour subscription has been confirmed. Keep an eye on your inbox\\!\n\n![crypto.com](data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%20768%20432'%3E%3Crect%20fill='%23f7f7f7'%20\/%3E%3C\/svg%3E)\n\nCrypto.com\n\nLook into each company and see what measures they take to keep people’s money safe. Are they insured? If so, for how much? What security measures do they use? Do they have a KYC policy for identity verification? Know the answers to all of these questions before you proceed.\n\nWhichever exchange you choose will require proof of identification—usually a driver’s license or state-issued ID if you’re in the US—when signing up. Being asked to submit proof of address and scans of additional documents like a passport is also a possibility.\n\nDo your research, choose an exchange, set up your account, fund it with some cash, and you’ll be ready to start buying Bitcoin.\n***\n## How to Buy and Sell Bitcoin\n![coinbase](data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%20768%20432'%3E%3Crect%20fill='%23f7f7f7'%20\/%3E%3C\/svg%3E)\n\nCoinbase.com\n\nNow that you’re ready to purchase Bitcoin, you’ll go through the process of buying however much you can afford. The process will be different depending on what exchange you use.\n\nSome just have a “buy” and “sell” button where you specify how much currency you want to purchase or sell off. Others have you submit an order similar to a conventional stock exchange. Most cryptocurrency exchanges let you buy and sell using three types of orders:\n\n### Recommended by Our Editors\n[![How Does Bitcoin Mining Work?](data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%20400%20225'%3E%3Crect%20fill='%23f7f7f7'%20\/%3E%3C\/svg%3E)](https:\/\/www.pcmag.com\/how-to\/how-does-bitcoin-mining-work)\n\n[How Does Bitcoin Mining Work?](https:\/\/www.pcmag.com\/how-to\/how-does-bitcoin-mining-work)\n\n[![Better Than Bitcoin? Stablecoins Explained](data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%20400%20225'%3E%3Crect%20fill='%23f7f7f7'%20\/%3E%3C\/svg%3E)](https:\/\/www.pcmag.com\/how-to\/better-than-bitcoin-stablecoins-explained)\n\n[Better Than Bitcoin? Stablecoins Explained](https:\/\/www.pcmag.com\/how-to\/better-than-bitcoin-stablecoins-explained)\n\n[![What Is a Meme Coin and How Do They Work?](data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%20400%20225'%3E%3Crect%20fill='%23f7f7f7'%20\/%3E%3C\/svg%3E)](https:\/\/www.pcmag.com\/how-to\/what-is-a-meme-coin-how-do-they-work)\n\n[What Is a Meme Coin and How Do They Work?](https:\/\/www.pcmag.com\/how-to\/what-is-a-meme-coin-how-do-they-work)\n\n- **Market Order**: An order to buy a set amount of Bitcoin at the current market price. This is very quick to execute and usually done in seconds.\n- **Stop Order**: Sets a price at which you want to buy or sell Bitcoin. This type of order can be used to sell Bitcoin at a high before it drops, but can take more time to execute than a market order.\n- **Limit Order**: Instructs the exchange to buy or sell Bitcoin at a specific price or better. These are visible to the market, and can take longer than stop orders to complete. This can be good for buying Bitcoin once it comes down in price somewhat.\n\n![kraken](data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%20768%20432'%3E%3Crect%20fill='%23f7f7f7'%20\/%3E%3C\/svg%3E)\n\nkraken.com\n\nSome exchanges offer even more order types than the ones listed above. As of this writing, Kraken currently offers the [most order variety](https:\/\/support.kraken.com\/hc\/en-us\/sections\/200577136-Order-types \"(Opens in a new tab)\"), including stop-loss and take-profit orders. Start with the basics listed above, and work your way up from there.\n\nAs cryptocurrencies have evolved and gained a measure of legitimacy in the public eye, crypto exchanges have grown with them into something that can be nearly equivalent to traditional stock exchanges. Some will even let you [choose a recurring dollar amount](https:\/\/help.coinbase.com\/en\/coinbase\/trading-and-funding\/buying-selling-or-converting-crypto\/how-can-i-create-or-cancel-a-recurring-transaction \"(Opens in a new tab)\") to invest every day, week, or month.\n\nVarious P2P cryptocurrency and Bitcoin exchanges also exist, but we recommend sticking to conventional exchanges to trade and buy Bitcoin, unless you know the person with whom you’re making a P2P exchange.\n***\n## Make a Plan and Manage Your Assets\nChoosing your investment strategy is important to success in investing. A common strategy is to buy and hold onto Bitcoin in the hopes of riding out the ups and downs in valuation for a higher average return.\n\nJPMorgan Chase analyst Nikolaos Panigirtzoglou favors this strategy. He recently [told Insider](https:\/\/www.businessinsider.com\/buy-bitcoin \"(Opens in a new tab)\") that \"It is better to buy and hold, perhaps allocating a small portion of your portfolio to cryptocurrencies, focusing on the ones typically held by institutional investors, such as Bitcoin and Ethereum at the moment.\"\n\nAnother popular strategy is the dollar-cost-average (DCA) approach: buying a tiny bit of Bitcoin every week or month without paying much attention to the fluctuations in price. That way you continue to build your investment at a steady pace you set, holding onto it for the long term.\n\nExperts recommend allocating a very low percentage of your portfolio to cryptocurrency investments, especially when starting out. A single digit amount—like 5% of your total investment portfolio—is reasonable. And if you're wondering if you have to pay taxes on crypto, we [answer all your questions here](https:\/\/www.pcmag.com\/news\/cryptocurrency-and-taxes-what-you-need-to-know).\n***\n## A Word of Warning\n![ftc chart](data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%20768%20432'%3E%3Crect%20fill='%23f7f7f7'%20\/%3E%3C\/svg%3E)\n\n(Credit: FTC)\n\nCrypto can be a fascinating investment prospect. The myriad uses of digital currency make it an interesting and enticing investment option, but every new investor should understand that they are in no way guaranteed massive returns on crypto investments. You’re more likely to lose money than become a billionaire overnight, so it’s worth reiterating: never, ever invest more than you can afford to lose.\n\nThere are so many different crypto scams out there these days—[fake cold wallets](https:\/\/www.pcmag.com\/news\/scammers-are-using-fake-devices-to-steal-cryptocurrency-wallets), [Twitter hacks](https:\/\/www.pcmag.com\/news\/huge-twitter-hack-hits-accounts-of-elon-musk-bill-gates-obama-more), [mining apps](https:\/\/www.pcmag.com\/news\/dozens-of-android-cryptocurrency-mining-apps-turn-out-to-be-scams), [scam calls](https:\/\/www.pcmag.com\/news\/americans-have-already-lost-30-billion-to-scam-calls-in-2021), database [hacks](https:\/\/www.pcmag.com\/news\/coinbase-discloses-that-6000-customers-got-hacked-this-spring)—that the FTC has issued a [warning to consumers](https:\/\/www.pcmag.com\/news\/ftc-to-consumers-be-careful-cryptocurrency-scams-are-booming). As such, we recommend you find a reputable wallet and exchange that offer robust security features. Use every single tool available to protect your assets so you'll be less likely to run into trouble long-term.\n\n## About Our Expert\n![John Bogna](https:\/\/i.pcmag.com\/imagery\/authors\/00s736Gof0LoJ3mthPuYHjN.fit_lim.size_100x100.v1633030503.jpg)\n\nJohn Bogna\n\nContributor\n***\nExperience\n\nJohn is a writer\/photographer currently based in Houston, Texas. He's written on everything from politics to crypto wallets and worked as a photojournalist covering notable events like the Astros Victory Parade and the Day for Night Music Festival. Current hobbies include learning to shoot 35mm film, building Spotify playlists, and working his way through that menacing TBR stack on the nightstand.\n\nLatest By John Bogna\n\n- [Fast Charging Is Everywhere Now, But Is it Dangerous?](https:\/\/www.pcmag.com\/how-to\/mobile-phone-fast-charging-is-everywhere-is-it-dangerous)\n- [Cryptocurrency Scammers Are Getting Sneakier. Here's How to Outsmart Them](https:\/\/www.pcmag.com\/how-to\/cryptocurrency-scammers-are-getting-sneakier-how-to-outsmart-them)\n- [FAT32 vs. ExFAT vs. NTFS: Which Format Is Best for Your Storage Drive?](https:\/\/www.pcmag.com\/how-to\/fat32-vs-exfat-vs-ntfs-which-format-is-best-for-your-storage-drive)\n- [Is Your Phone Call Really Private? How to Tell if You're Being Tapped](https:\/\/www.pcmag.com\/how-to\/how-to-tell-if-your-phone-is-being-tapped-what-to-do)\n- [Eyes on the Road: 8 Android Auto Tips Every Driver Needs](https:\/\/www.pcmag.com\/how-to\/eyes-on-the-road-android-auto-tips-every-driver-needs)\n- [More from John Bogna](https:\/\/www.pcmag.com\/authors\/john-bogna)\n\n[Read Full Bio](https:\/\/www.pcmag.com\/authors\/john-bogna)\n## Table of Contents\nTable of Contents\n\nAdvertisement\n\n### Weekend Project\n[![Maximize Your Mood Lighting. How I Set Up My Nanoleaf Wall Panel Lights](<data:image\/svg+xml,%3Csvg xmlns='http:\/\/www.w3.org\/2000\/svg' viewBox='0 0 400 225'%3E%3Crect fill='%23f7f7f7' \/%3E%3C\/svg%3E>)](https:\/\/www.pcmag.com\/explainers\/maximize-your-mood-lighting-how-i-set-up-my-nanoleaf-wall-panel-lights)\n\n[Maximize Your Mood Lighting. 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How to Free Up Storage Space on Your iPhone](<data:image\/svg+xml,%3Csvg xmlns='http:\/\/www.w3.org\/2000\/svg' viewBox='0 0 400 225'%3E%3Crect fill='%23f7f7f7' \/%3E%3C\/svg%3E>)](https:\/\/www.pcmag.com\/how-to\/tweak-settings-free-up-storage-space-on-iphone)\n\n[Clear the Clutter. How to Free Up Storage Space on Your iPhone](https:\/\/www.pcmag.com\/how-to\/tweak-settings-free-up-storage-space-on-iphone)\n\nBy [Jason Cohen](https:\/\/www.pcmag.com\/authors\/jason-cohen)\n\n[![Yes, You Can Remove Your Personal Info From Google. Here's How](<data:image\/svg+xml,%3Csvg xmlns='http:\/\/www.w3.org\/2000\/svg' viewBox='0 0 400 225'%3E%3Crect fill='%23f7f7f7' \/%3E%3C\/svg%3E>)](https:\/\/www.pcmag.com\/how-to\/psst-you-can-remove-your-personal-info-from-google-search-heres-how)\n\n[Yes, You Can Remove Your Personal Info From Google. Here's How](https:\/\/www.pcmag.com\/how-to\/psst-you-can-remove-your-personal-info-from-google-search-heres-how)\n\nBy [Eric Griffith](https:\/\/www.pcmag.com\/authors\/eric-griffith)\n\n[![Want More Privacy? Here's the Right Way to Set Up Your VPN](<data:image\/svg+xml,%3Csvg xmlns='http:\/\/www.w3.org\/2000\/svg' viewBox='0 0 400 225'%3E%3Crect fill='%23f7f7f7' \/%3E%3C\/svg%3E>)](https:\/\/www.pcmag.com\/how-to\/ive-reviewed-dozens-of-vpns-my-top-tips-for-setting-it-up-the-right-way)\n\n[Want More Privacy? Here's the Right Way to Set Up Your VPN](https:\/\/www.pcmag.com\/how-to\/ive-reviewed-dozens-of-vpns-my-top-tips-for-setting-it-up-the-right-way)\n\nBy [Justyn Newman](https:\/\/www.pcmag.com\/authors\/justyn-newman)\n\n[All Weekend Project Stories](https:\/\/www.pcmag.com\/series\/weekend-project)\n\n### Further Reading\n[![Meta Tests WhatsApp Plus Subscription for Premium Features](<data:image\/svg+xml,%3Csvg xmlns='http:\/\/www.w3.org\/2000\/svg' viewBox='0 0 400 225'%3E%3Crect fill='%23f7f7f7' \/%3E%3C\/svg%3E>)](https:\/\/www.pcmag.com\/news\/meta-tests-whatsapp-plus-subscription-for-premium-features)\n\n[Meta Tests WhatsApp Plus Subscription for Premium Features](https:\/\/www.pcmag.com\/news\/meta-tests-whatsapp-plus-subscription-for-premium-features)\n\nBy [Jibin Joseph](https:\/\/www.pcmag.com\/authors\/jibin-joseph)\n\n[![Rate the Security Cameras, Video Doorbells, and Smart Locks That Keep Your Home Safe](<data:image\/svg+xml,%3Csvg xmlns='http:\/\/www.w3.org\/2000\/svg' viewBox='0 0 400 225'%3E%3Crect fill='%23f7f7f7' \/%3E%3C\/svg%3E>)](https:\/\/www.pcmag.com\/articles\/readers-choice-sweeps-4)\n\n[Rate the Security Cameras, Video Doorbells, and Smart Locks That Keep Your Home Safe](https:\/\/www.pcmag.com\/articles\/readers-choice-sweeps-4)\n\n[![TP-Link Meets With FCC About Router Ban Exemption, Says It's a 'US Company'](<data:image\/svg+xml,%3Csvg xmlns='http:\/\/www.w3.org\/2000\/svg' viewBox='0 0 400 225'%3E%3Crect fill='%23f7f7f7' \/%3E%3C\/svg%3E>)](https:\/\/www.pcmag.com\/news\/tp-link-meets-with-fcc-about-router-ban-exemption-says-its-a-us-company)\n\n[TP-Link Meets With FCC About Router Ban Exemption, Says It's a 'US Company'](https:\/\/www.pcmag.com\/news\/tp-link-meets-with-fcc-about-router-ban-exemption-says-its-a-us-company)\n\nBy [Michael Kan](https:\/\/www.pcmag.com\/authors\/michael-kan)\n\n[![Your AirPods Are in Your Ears All Day. Here's How to Clean Off All That Wax](<data:image\/svg+xml,%3Csvg xmlns='http:\/\/www.w3.org\/2000\/svg' viewBox='0 0 400 225'%3E%3Crect fill='%23f7f7f7' \/%3E%3C\/svg%3E>)](https:\/\/www.pcmag.com\/how-to\/airpods-in-your-ears-all-day-how-to-clean-off-wax)\n\n[Your AirPods Are in Your Ears All Day. 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Our expert industry analysis and practical solutions help you make better buying decisions and get more from technology.\n\n[Editorial Principles](https:\/\/www.pcmag.com\/about\/pcmagcom-mission-statement)\n\n[How We Test](https:\/\/www.pcmag.com\/about\/how-we-test-everything-we-review)\n\n44 Years of  \nExperience\n\n65 Tech  \nExperts\n\n43K+ Product  \nReviews\n\n- [3D Printers](https:\/\/www.pcmag.com\/picks\/the-best-3d-printers)\n- [Android Phones](https:\/\/www.pcmag.com\/picks\/the-best-android-phones)\n- [Android Tablets](https:\/\/www.pcmag.com\/picks\/the-best-tablets)\n- [Antivirus Apps](https:\/\/www.pcmag.com\/picks\/the-best-antivirus-protection)\n- [Apple iPads](https:\/\/www.pcmag.com\/picks\/whats-the-best-ipad-to-buy)\n- [Apple iPhones](https:\/\/www.pcmag.com\/picks\/whats-the-best-iphone-to-buy)\n- [Apple Watches](https:\/\/www.pcmag.com\/picks\/the-best-apple-watch)\n- [Bluetooth 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If you click an affiliate link and buy a product or service, we may be paid a fee by that merchant.\n\n- [About Ziff Davis](https:\/\/www.ziffdavis.com\/about \"(Opens in a new tab)\")\n- [Privacy Policy](https:\/\/www.ziffdavis.com\/ztg-privacy-policy \"(Opens in a new tab)\")\n- [Terms of Use](https:\/\/www.ziffdavis.com\/about\/terms \"(Opens in a new tab)\")\n- [Advertise](https:\/\/www.ziffmedia.com#contact \"(Opens in a new tab)\")\n- [Accessibility](https:\/\/www.ziffdavis.com\/accessibility \"(Opens in a new tab)\")\n- [Do Not Sell My Personal Information](https:\/\/dsar.pcmag.com\/ \"(Opens in a new tab)\")\n\n- ![AdChoices image pixel](https:\/\/c.evidon.com\/pub\/icong1.png) AdChoices\n- [TRUSTe Logo ![TRUSTe Logo](<data:image\/svg+xml,%3Csvg xmlns='http:\/\/www.w3.org\/2000\/svg' viewBox='0 0 142 45'%3E%3Crect fill='%23f7f7f7' \/%3E%3C\/svg%3E>)](https:\/\/privacy.truste.com\/privacy-seal\/validation?rid=ce211316-dfd0-4abb-8bfb-9cb70de1e37c \"TRUSTe Privacy Certification (Opens in a new tab)\")\n- [![Better Business Bureau (BBB) Logo](<data:image\/svg+xml,%3Csvg xmlns='http:\/\/www.w3.org\/2000\/svg' viewBox='0 0 96 50'%3E%3Crect fill='%23f7f7f7' \/%3E%3C\/svg%3E>)](https:\/\/www.bbb.org\/us\/ny\/new-york\/profile\/digital-media\/ziff-davis-llc-0121-531\/#sealclick \"BBB Business Review (Opens in a new tab)\")\n\nmodalIsShowing(value))\" x-cloak\\>\n\nHello\\!\n\n**Here are some examples of the types of questions you can ask:**\n\n- What's the best graphics card for 4K gaming?\n- Should I get the iPhone 17 or the iPhone 17 Pro?\n- Show me some good VPNs under \\$10 a month.\n\nI'm in Beta. [Help me get better](https:\/\/docs.google.com\/forms\/d\/e\/1FAIpQLSdL9ayCDMigj08oQXjAgDJVX77ti49d9ILHwE--ZFlRtEHOSw\/viewform?usp=sharing&ouid=117991066449526760970).\n\nKeep scrolling for next article","attrs_readable_markdown":"Are you finally ready to take the plunge into the world of cryptocurrencies? It may seem complicated, but with a little research, beginners can be buying and selling Bitcoin in no time.\n\nBitcoin is the most ubiquitous digital currency on the market, so we'll show you the ropes on buying, selling, and storing it. However, these tips can apply to other cryptocurrencies like Ethereum (or even Dogecoin, if that’s your thing).\n***\n## What to Know Before Buying Bitcoin\nAt the time of this writing, the [value of 1 Bitcoin](https:\/\/www.coinbase.com\/price\/bitcoin \"(Opens in a new tab)\") is just shy of \\$40,000. But don’t worry, you can still buy Bitcoin in fractional amounts even if you aren’t obscenely wealthy. Before you buy your slice of Bitcoin pie, however, there are a few things you’ll need to do first. These include:\n\n- Set up an account with a reputable cryptocurrency exchange.\n- Collect the documents needed to verify your identity for [Know Your Customer (KYC)](https:\/\/www.fool.com\/the-ascent\/cryptocurrency\/articles\/what-is-kyc-and-why-do-crypto-exchanges-require-it\/ \"(Opens in a new tab)\") exchanges.\n- Get a cryptocurrency wallet.\n- Set up your wallet.\n- Make sure you have a fast, reliable internet connection.\n\nYou’ll also need to go into the experience with an understanding that cryptocurrencies—and Bitcoin in particular—can be volatile, drastically changing in value from one day to the next. With that in mind, never invest more than you can afford to lose when purchasing cryptocurrency.\n***\n## Choose a Cryptocurrency Wallet\n![crypto wallet](data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%20768%20432'%3E%3Crect%20fill='%23f7f7f7'%20\/%3E%3C\/svg%3E)\n\nLedger Nano S\n\nBefore you buy digital currency, you need a place to store it, and that’s where [crypto wallets](https:\/\/www.pcmag.com\/picks\/the-best-bitcoin-wallets) come in. They’re known by several names—hot wallet, hardware wallet, software wallet—but come in two main types:\n\n- **Cold Wallet**: A physical, hardware-based digital wallet for storing cryptocurrency that isn’t connected to the internet, akin to a very high-tech flash drive for storing cryptocurrency. Cold wallets come with multiple layers of security, and are more difficult to hack than an internet-connected wallet.\n\n- **Hot Wallet**: A software-based digital wallet that is connected to the internet and often comes in the form of an app.\n\nOver the years, certain companies have emerged as reliable crypto hardware wallet manufacturers. [Ledger](https:\/\/www.ledger.com\/ \"(Opens in a new tab)\"), for example, has been making cold wallets for years now and could be a good place to start. [Trezor](https:\/\/trezor.io\/ \"(Opens in a new tab)\") is another big name in the hardware wallet space.\n\nIf you want to go with a digital wallet, most major cryptocurrency exchanges package an online wallet with your user account. [Coinbase](https:\/\/www.pcmag.com\/reviews\/coinbase-wallet), maybe the largest cryptocurrency exchange out there, does this. Its wallet is highly rated, and you don’t need a Coinbase account to use its app.\n***\n### [Our Top-Rated Bitcoin Wallets](https:\/\/www.pcmag.com\/picks\/the-best-bitcoin-wallets)\nAtomic Wallet\n\n- Visit SIte at Atomic Wallet\n  [See It](https:\/\/cc.pcmag.com\/v1\/otc\/01r1WRIAJykbQgN4oGQ8FSi?merchant=06uvXXi5iZqx5zaOF89T6jE&url=https%3A%2F%2Fatomicwallet.io%2F&template=article-page&module=product-cards&element=product-card&item=buy-button&position=1&element_label=See+It&u=https%3A%2F%2Fwww.pcmag.com%2Fhow-to%2Fhow-to-buy-sell-and-manage-bitcoin&page_type=article&page_uuid=015t2XCInYI4JmscpwIFyrH&object_type=article&object_uuid=015t2XCInYI4JmscpwIFyrH&product_uuid=04T2XsdCnWHWbXBOocfGod6 \"(Opens in a new tab)\")\n\nBitpay Wallet\n\n- Learn More at GitHub\n  [See It](https:\/\/cc.pcmag.com\/v1\/otc\/01r1WRIAJykbQgN4oGQ8FSi?merchant=014sWohHNdiRyUStMcxYzJw&url=https%3A%2F%2Fgithub.com%2Fbitpay%2Fcopay&template=article-page&module=product-cards&element=product-card&item=buy-button&position=2&element_label=See+It&u=https%3A%2F%2Fwww.pcmag.com%2Fhow-to%2Fhow-to-buy-sell-and-manage-bitcoin&page_type=article&page_uuid=015t2XCInYI4JmscpwIFyrH&object_type=article&object_uuid=015t2XCInYI4JmscpwIFyrH&product_uuid=07K3YV9JGScMxeytVVbvEUM \"(Opens in a new tab)\")\n\nCoinbase Wallet\n\n- Learn More at Coinbase\n  [See It](https:\/\/cc.pcmag.com\/v1\/otc\/01r1WRIAJykbQgN4oGQ8FSi?merchant=01T0JeVTt4UQ0HUxyTwCtul&url=https%3A%2F%2Fwww.coinbase.com%2Fbuy-bitcoin&template=article-page&module=product-cards&element=product-card&item=buy-button&position=4&element_label=See+It&u=https%3A%2F%2Fwww.pcmag.com%2Fhow-to%2Fhow-to-buy-sell-and-manage-bitcoin&page_type=article&page_uuid=015t2XCInYI4JmscpwIFyrH&object_type=article&object_uuid=015t2XCInYI4JmscpwIFyrH&product_uuid=0655DuhMRfQK1JQfUsC60hg \"(Opens in a new tab)\")\n\nElectrum Bitcoin Wallet\n\n- Visit Site at Electrum Bitcoin Wallet\n  [See It](https:\/\/cc.pcmag.com\/v1\/otc\/01r1WRIAJykbQgN4oGQ8FSi?merchant=00DAup5ABXpJb93E71qsTHU&url=https%3A%2F%2Felectrum.org%2F%23home&template=article-page&module=product-cards&element=product-card&item=buy-button&position=6&element_label=See+It&u=https%3A%2F%2Fwww.pcmag.com%2Fhow-to%2Fhow-to-buy-sell-and-manage-bitcoin&page_type=article&page_uuid=015t2XCInYI4JmscpwIFyrH&object_type=article&object_uuid=015t2XCInYI4JmscpwIFyrH&product_uuid=01CdOW1QNdVKicyYPYc9JM1 \"(Opens in a new tab)\")\n\nHuobi Wallet\n\n- Visit Site at Huobi Wallet\n  [See It](https:\/\/cc.pcmag.com\/v1\/otc\/01r1WRIAJykbQgN4oGQ8FSi?merchant=00k0u8M6fVwfLJjZUjP724V&url=https%3A%2F%2Fwww.huobiwallet.com%2Fen%2F&template=article-page&module=product-cards&element=product-card&item=buy-button&position=7&element_label=See+It&u=https%3A%2F%2Fwww.pcmag.com%2Fhow-to%2Fhow-to-buy-sell-and-manage-bitcoin&page_type=article&page_uuid=015t2XCInYI4JmscpwIFyrH&object_type=article&object_uuid=015t2XCInYI4JmscpwIFyrH&product_uuid=00AwXWlQsYxSR6ATSn055Bg \"(Opens in a new tab)\")\n\nJaxx Liberty\n\n- Visit Site at Jaxx Liberty\n  [See It](https:\/\/cc.pcmag.com\/v1\/otc\/01r1WRIAJykbQgN4oGQ8FSi?merchant=06XEvwHBI9f1X6eoK497xDW&url=https%3A%2F%2Fjaxx.io%2F&template=article-page&module=product-cards&element=product-card&item=buy-button&position=8&element_label=See+It&u=https%3A%2F%2Fwww.pcmag.com%2Fhow-to%2Fhow-to-buy-sell-and-manage-bitcoin&page_type=article&page_uuid=015t2XCInYI4JmscpwIFyrH&object_type=article&object_uuid=015t2XCInYI4JmscpwIFyrH&product_uuid=030ZYAONDnnJbDtBhMgqwbr \"(Opens in a new tab)\")\n\nMycelium Bitcoin Wallet\n\n- Visit Site at Mycelium Bitcoin Wallet\n  [See It](https:\/\/cc.pcmag.com\/v1\/otc\/01r1WRIAJykbQgN4oGQ8FSi?merchant=00S4nuRTjKd6luysY9f00bL&url=https%3A%2F%2Fwallet.mycelium.com%2F&template=article-page&module=product-cards&element=product-card&item=buy-button&position=9&element_label=See+It&u=https%3A%2F%2Fwww.pcmag.com%2Fhow-to%2Fhow-to-buy-sell-and-manage-bitcoin&page_type=article&page_uuid=015t2XCInYI4JmscpwIFyrH&object_type=article&object_uuid=015t2XCInYI4JmscpwIFyrH&product_uuid=06CqPoXjvZSw23lYJOaBCmp \"(Opens in a new tab)\")\n***\n## Set Up Your Cryptocurrency Wallet\n![coinbase app](data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%20768%20432'%3E%3Crect%20fill='%23f7f7f7'%20\/%3E%3C\/svg%3E)\n\nCoinbase app\n\nIf you’re using a software wallet (aka, a hosted wallet, since it’s hosted on third-party servers), you just create an account with a username and password and enable [two-factor authentication](https:\/\/www.pcmag.com\/how-to\/two-factor-authentication-who-has-it-and-how-to-set-it-up). If you’re setting up your wallet as part of a cryptocurrency exchange account and that exchange uses KYC, you’ll need to provide documents like a driver’s license to verify your identity.\n\nNon-custodial hot wallets aren’t hosted by a third party and take more security measures than a standard hot wallet. Users get a randomly generated “private key” or “seed phrase” that they can use to access the wallet. These keys are usually around 12 words long and are known only by the user. It’s recommended that you store this passphrase somewhere safe and offline—it’s more difficult to hack that way. But if you lose the phrase, [you're locked out](https:\/\/www.pcmag.com\/news\/cryptocurrency-exchange-locked-out-of-funds-after-ceos-death) of your own wallet.\n\nCold wallets also generate a key phrase known only to the user that allows access to the wallet. This key phrase is usually a string of 24 randomly generated words, and you’ll also create a PIN to gain access. Cold wallets work together with apps and software on your smartphone or desktop device, so you’ll install them as needed when setting up a cold wallet.\n\n![exodus](data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%20768%20432'%3E%3Crect%20fill='%23f7f7f7'%20\/%3E%3C\/svg%3E)\n\nExodus desktop app\n\nA paper wallet is a type of cold wallet in which the public and private keys needed for a transaction are printed on a piece of paper for an extra measure of security. A transaction cannot be made without the information on the piece of paper, which is generated online and can then be printed. More often used for long-term or high-security investments, they’re intentionally slower to use than other kinds of cryptocurrency wallets.\n\nNo matter which wallet type you use, you'll need to link a payment method to it for purchases. That can be a bank account, or a payment service like [PayPal](https:\/\/www.pcmag.com\/reviews\/paypal) or [Apple Pay](https:\/\/www.pcmag.com\/reviews\/apple-pay). When submitting payment information, you’ll have to verify your identity.\n***\n## Pick an Exchange\n![Gemini](data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%20768%20432'%3E%3Crect%20fill='%23f7f7f7'%20\/%3E%3C\/svg%3E)\n\nGemini\n\nOnce you choose a wallet and set it up, it's time to find an exchange and make your first Bitcoin transaction. Not all crypto exchanges are regulated by the US Securities and Exchange Commission (SEC), so look for one that is. A few reputable and regulated crypto exchanges that are reasonably safe bets include:\n\n- [Coinbase](https:\/\/zdcs.link\/pVpBZ \"(Opens in a new tab)\")\n- [Kraken](https:\/\/zdcs.link\/Kjn8G \"(Opens in a new tab)\")\n- [Gemini](https:\/\/zdcs.link\/3xLOM \"(Opens in a new tab)\")\n- [eToro](https:\/\/zdcs.link\/jBD8y \"(Opens in a new tab)\")\n- [Crypto.com](https:\/\/zdcs.link\/x02ed \"(Opens in a new tab)\")\n\nYou’ll need to do some homework to determine which exchange is the best for your needs. Since Bitcoin is the original and most popular cryptocurrency, you can be reasonably sure that all the exchanges listed above will offer it. You may also want to look into what other cryptocurrencies they offer if you have plans to expand your portfolio.\n\n![Newsletter Icon](https:\/\/www.pcmag.com\/images\/newsletter-envelope.svg)\n\n![Newsletter Icon](https:\/\/www.pcmag.com\/images\/newsletter-envelope.svg)\n\nGet Our Best Stories\\!\n\n### Get the Most Out of Your Technology\n![Tips, Tricks, and How-To Newsletter Image](https:\/\/i.pcmag.com\/imagery\/newsletters\/20200977-contextual.fit_lpad.size_250x140.v1752613922.png)\n\nThanks for signing up\\!\n\nYour subscription has been confirmed. Keep an eye on your inbox\\!\n\n![crypto.com](data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%20768%20432'%3E%3Crect%20fill='%23f7f7f7'%20\/%3E%3C\/svg%3E)\n\nCrypto.com\n\nLook into each company and see what measures they take to keep people’s money safe. Are they insured? If so, for how much? What security measures do they use? Do they have a KYC policy for identity verification? Know the answers to all of these questions before you proceed.\n\nWhichever exchange you choose will require proof of identification—usually a driver’s license or state-issued ID if you’re in the US—when signing up. Being asked to submit proof of address and scans of additional documents like a passport is also a possibility.\n\nDo your research, choose an exchange, set up your account, fund it with some cash, and you’ll be ready to start buying Bitcoin.\n***\n## How to Buy and Sell Bitcoin\n![coinbase](data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%20768%20432'%3E%3Crect%20fill='%23f7f7f7'%20\/%3E%3C\/svg%3E)\n\nCoinbase.com\n\nNow that you’re ready to purchase Bitcoin, you’ll go through the process of buying however much you can afford. The process will be different depending on what exchange you use.\n\nSome just have a “buy” and “sell” button where you specify how much currency you want to purchase or sell off. Others have you submit an order similar to a conventional stock exchange. Most cryptocurrency exchanges let you buy and sell using three types of orders:\n\n### Recommended by Our Editors\n[![How Does Bitcoin Mining Work?](data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%20400%20225'%3E%3Crect%20fill='%23f7f7f7'%20\/%3E%3C\/svg%3E)](https:\/\/www.pcmag.com\/how-to\/how-does-bitcoin-mining-work)\n\n[![Better Than Bitcoin? Stablecoins Explained](data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%20400%20225'%3E%3Crect%20fill='%23f7f7f7'%20\/%3E%3C\/svg%3E)](https:\/\/www.pcmag.com\/how-to\/better-than-bitcoin-stablecoins-explained)\n\n[![What Is a Meme Coin and How Do They Work?](data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%20400%20225'%3E%3Crect%20fill='%23f7f7f7'%20\/%3E%3C\/svg%3E)](https:\/\/www.pcmag.com\/how-to\/what-is-a-meme-coin-how-do-they-work)\n\n- **Market Order**: An order to buy a set amount of Bitcoin at the current market price. This is very quick to execute and usually done in seconds.\n- **Stop Order**: Sets a price at which you want to buy or sell Bitcoin. This type of order can be used to sell Bitcoin at a high before it drops, but can take more time to execute than a market order.\n- **Limit Order**: Instructs the exchange to buy or sell Bitcoin at a specific price or better. These are visible to the market, and can take longer than stop orders to complete. This can be good for buying Bitcoin once it comes down in price somewhat.\n\n![kraken](data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%20768%20432'%3E%3Crect%20fill='%23f7f7f7'%20\/%3E%3C\/svg%3E)\n\nkraken.com\n\nSome exchanges offer even more order types than the ones listed above. As of this writing, Kraken currently offers the [most order variety](https:\/\/support.kraken.com\/hc\/en-us\/sections\/200577136-Order-types \"(Opens in a new tab)\"), including stop-loss and take-profit orders. Start with the basics listed above, and work your way up from there.\n\nAs cryptocurrencies have evolved and gained a measure of legitimacy in the public eye, crypto exchanges have grown with them into something that can be nearly equivalent to traditional stock exchanges. Some will even let you [choose a recurring dollar amount](https:\/\/help.coinbase.com\/en\/coinbase\/trading-and-funding\/buying-selling-or-converting-crypto\/how-can-i-create-or-cancel-a-recurring-transaction \"(Opens in a new tab)\") to invest every day, week, or month.\n\nVarious P2P cryptocurrency and Bitcoin exchanges also exist, but we recommend sticking to conventional exchanges to trade and buy Bitcoin, unless you know the person with whom you’re making a P2P exchange.\n***\n## Make a Plan and Manage Your Assets\nChoosing your investment strategy is important to success in investing. A common strategy is to buy and hold onto Bitcoin in the hopes of riding out the ups and downs in valuation for a higher average return.\n\nJPMorgan Chase analyst Nikolaos Panigirtzoglou favors this strategy. He recently [told Insider](https:\/\/www.businessinsider.com\/buy-bitcoin \"(Opens in a new tab)\") that \"It is better to buy and hold, perhaps allocating a small portion of your portfolio to cryptocurrencies, focusing on the ones typically held by institutional investors, such as Bitcoin and Ethereum at the moment.\"\n\nAnother popular strategy is the dollar-cost-average (DCA) approach: buying a tiny bit of Bitcoin every week or month without paying much attention to the fluctuations in price. That way you continue to build your investment at a steady pace you set, holding onto it for the long term.\n\nExperts recommend allocating a very low percentage of your portfolio to cryptocurrency investments, especially when starting out. A single digit amount—like 5% of your total investment portfolio—is reasonable. And if you're wondering if you have to pay taxes on crypto, we [answer all your questions here](https:\/\/www.pcmag.com\/news\/cryptocurrency-and-taxes-what-you-need-to-know).\n***\n## A Word of Warning\n![ftc chart](data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%20768%20432'%3E%3Crect%20fill='%23f7f7f7'%20\/%3E%3C\/svg%3E)\n\n(Credit: FTC)\n\nCrypto can be a fascinating investment prospect. The myriad uses of digital currency make it an interesting and enticing investment option, but every new investor should understand that they are in no way guaranteed massive returns on crypto investments. You’re more likely to lose money than become a billionaire overnight, so it’s worth reiterating: never, ever invest more than you can afford to lose.\n\nThere are so many different crypto scams out there these days—[fake cold wallets](https:\/\/www.pcmag.com\/news\/scammers-are-using-fake-devices-to-steal-cryptocurrency-wallets), [Twitter hacks](https:\/\/www.pcmag.com\/news\/huge-twitter-hack-hits-accounts-of-elon-musk-bill-gates-obama-more), [mining apps](https:\/\/www.pcmag.com\/news\/dozens-of-android-cryptocurrency-mining-apps-turn-out-to-be-scams), [scam calls](https:\/\/www.pcmag.com\/news\/americans-have-already-lost-30-billion-to-scam-calls-in-2021), database [hacks](https:\/\/www.pcmag.com\/news\/coinbase-discloses-that-6000-customers-got-hacked-this-spring)—that the FTC has issued a [warning to consumers](https:\/\/www.pcmag.com\/news\/ftc-to-consumers-be-careful-cryptocurrency-scams-are-booming). As such, we recommend you find a reputable wallet and exchange that offer robust security features. Use every single tool available to protect your assets so you'll be less likely to run into trouble long-term.\n\n## About Our Expert\n![John Bogna](https:\/\/i.pcmag.com\/imagery\/authors\/00s736Gof0LoJ3mthPuYHjN.fit_lim.size_100x100.v1633030503.jpg)\n\nJohn Bogna\n\nContributor\n***\nExperience\n\nJohn is a writer\/photographer currently based in Houston, Texas. He's written on everything from politics to crypto wallets and worked as a photojournalist covering notable events like the Astros Victory Parade and the Day for Night Music Festival. Current hobbies include learning to shoot 35mm film, building Spotify playlists, and working his way through that menacing TBR stack on the nightstand.\n\nLatest By John Bogna\n\n[Read Full Bio](https:\/\/www.pcmag.com\/authors\/john-bogna)","meta_canonical":null}

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Meta Title	Bitcoin for Beginners: Simple Tips to Get Started With Crypto \| PCMag
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Boilerpipe Text	Are you finally ready to take the plunge into the world of cryptocurrencies? It may seem complicated, but with a little research, beginners can be buying and selling Bitcoin in no time. Bitcoin is the most ubiquitous digital currency on the market, so we'll show you the ropes on buying, selling, and storing it. However, these tips can apply to other cryptocurrencies like Ethereum (or even Dogecoin, if that’s your thing). What to Know Before Buying Bitcoin At the time of this writing, the value of 1 Bitcoin is just shy of $40,000. But don’t worry, you can still buy Bitcoin in fractional amounts even if you aren’t obscenely wealthy. Before you buy your slice of Bitcoin pie, however, there are a few things you’ll need to do first. These include: Set up an account with a reputable cryptocurrency exchange. Collect the documents needed to verify your identity for Know Your Customer (KYC) exchanges. Get a cryptocurrency wallet. Set up your wallet. Make sure you have a fast, reliable internet connection. You’ll also need to go into the experience with an understanding that cryptocurrencies—and Bitcoin in particular—can be volatile, drastically changing in value from one day to the next. With that in mind, never invest more than you can afford to lose when purchasing cryptocurrency. Choose a Cryptocurrency Wallet Ledger Nano S Before you buy digital currency, you need a place to store it, and that’s where crypto wallets come in. They’re known by several names—hot wallet, hardware wallet, software wallet—but come in two main types: Cold Wallet : A physical, hardware-based digital wallet for storing cryptocurrency that isn’t connected to the internet, akin to a very high-tech flash drive for storing cryptocurrency. Cold wallets come with multiple layers of security, and are more difficult to hack than an internet-connected wallet. Hot Wallet : A software-based digital wallet that is connected to the internet and often comes in the form of an app. Over the years, certain companies have emerged as reliable crypto hardware wallet manufacturers. Ledger , for example, has been making cold wallets for years now and could be a good place to start. Trezor is another big name in the hardware wallet space. If you want to go with a digital wallet, most major cryptocurrency exchanges package an online wallet with your user account. Coinbase , maybe the largest cryptocurrency exchange out there, does this. Its wallet is highly rated, and you don’t need a Coinbase account to use its app. Our Top-Rated Bitcoin Wallets Atomic Wallet Visit SIte at Atomic Wallet See It Bitpay Wallet Learn More at GitHub See It Coinbase Wallet Learn More at Coinbase See It Electrum Bitcoin Wallet Visit Site at Electrum Bitcoin Wallet See It Huobi Wallet Visit Site at Huobi Wallet See It Jaxx Liberty Visit Site at Jaxx Liberty See It Mycelium Bitcoin Wallet Visit Site at Mycelium Bitcoin Wallet See It Set Up Your Cryptocurrency Wallet Coinbase app If you’re using a software wallet (aka, a hosted wallet, since it’s hosted on third-party servers), you just create an account with a username and password and enable two-factor authentication . If you’re setting up your wallet as part of a cryptocurrency exchange account and that exchange uses KYC, you’ll need to provide documents like a driver’s license to verify your identity. Non-custodial hot wallets aren’t hosted by a third party and take more security measures than a standard hot wallet. Users get a randomly generated “private key” or “seed phrase” that they can use to access the wallet. These keys are usually around 12 words long and are known only by the user. It’s recommended that you store this passphrase somewhere safe and offline—it’s more difficult to hack that way. But if you lose the phrase, you're locked out of your own wallet. Cold wallets also generate a key phrase known only to the user that allows access to the wallet. This key phrase is usually a string of 24 randomly generated words, and you’ll also create a PIN to gain access. Cold wallets work together with apps and software on your smartphone or desktop device, so you’ll install them as needed when setting up a cold wallet. Exodus desktop app A paper wallet is a type of cold wallet in which the public and private keys needed for a transaction are printed on a piece of paper for an extra measure of security. A transaction cannot be made without the information on the piece of paper, which is generated online and can then be printed. More often used for long-term or high-security investments, they’re intentionally slower to use than other kinds of cryptocurrency wallets. No matter which wallet type you use, you'll need to link a payment method to it for purchases. That can be a bank account, or a payment service like PayPal or Apple Pay . When submitting payment information, you’ll have to verify your identity. Pick an Exchange Gemini Once you choose a wallet and set it up, it's time to find an exchange and make your first Bitcoin transaction. Not all crypto exchanges are regulated by the US Securities and Exchange Commission (SEC), so look for one that is. A few reputable and regulated crypto exchanges that are reasonably safe bets include: Coinbase Kraken Gemini eToro Crypto.com You’ll need to do some homework to determine which exchange is the best for your needs. Since Bitcoin is the original and most popular cryptocurrency, you can be reasonably sure that all the exchanges listed above will offer it. You may also want to look into what other cryptocurrencies they offer if you have plans to expand your portfolio. Get Our Best Stories! Get the Most Out of Your Technology Thanks for signing up! Your subscription has been confirmed. Keep an eye on your inbox! Crypto.com Look into each company and see what measures they take to keep people’s money safe. Are they insured? If so, for how much? What security measures do they use? Do they have a KYC policy for identity verification? Know the answers to all of these questions before you proceed. Whichever exchange you choose will require proof of identification—usually a driver’s license or state-issued ID if you’re in the US—when signing up. Being asked to submit proof of address and scans of additional documents like a passport is also a possibility. Do your research, choose an exchange, set up your account, fund it with some cash, and you’ll be ready to start buying Bitcoin. How to Buy and Sell Bitcoin Coinbase.com Now that you’re ready to purchase Bitcoin, you’ll go through the process of buying however much you can afford. The process will be different depending on what exchange you use. Some just have a “buy” and “sell” button where you specify how much currency you want to purchase or sell off. Others have you submit an order similar to a conventional stock exchange. Most cryptocurrency exchanges let you buy and sell using three types of orders: Recommended by Our Editors Market Order : An order to buy a set amount of Bitcoin at the current market price. This is very quick to execute and usually done in seconds. Stop Order : Sets a price at which you want to buy or sell Bitcoin. This type of order can be used to sell Bitcoin at a high before it drops, but can take more time to execute than a market order. Limit Order : Instructs the exchange to buy or sell Bitcoin at a specific price or better. These are visible to the market, and can take longer than stop orders to complete. This can be good for buying Bitcoin once it comes down in price somewhat. kraken.com Some exchanges offer even more order types than the ones listed above. As of this writing, Kraken currently offers the most order variety , including stop-loss and take-profit orders. Start with the basics listed above, and work your way up from there. As cryptocurrencies have evolved and gained a measure of legitimacy in the public eye, crypto exchanges have grown with them into something that can be nearly equivalent to traditional stock exchanges. Some will even let you choose a recurring dollar amount to invest every day, week, or month. Various P2P cryptocurrency and Bitcoin exchanges also exist, but we recommend sticking to conventional exchanges to trade and buy Bitcoin, unless you know the person with whom you’re making a P2P exchange. Make a Plan and Manage Your Assets Choosing your investment strategy is important to success in investing. A common strategy is to buy and hold onto Bitcoin in the hopes of riding out the ups and downs in valuation for a higher average return. JPMorgan Chase analyst Nikolaos Panigirtzoglou favors this strategy. He recently told Insider that "It is better to buy and hold, perhaps allocating a small portion of your portfolio to cryptocurrencies, focusing on the ones typically held by institutional investors, such as Bitcoin and Ethereum at the moment." Another popular strategy is the dollar-cost-average (DCA) approach: buying a tiny bit of Bitcoin every week or month without paying much attention to the fluctuations in price. That way you continue to build your investment at a steady pace you set, holding onto it for the long term. Experts recommend allocating a very low percentage of your portfolio to cryptocurrency investments, especially when starting out. A single digit amount—like 5% of your total investment portfolio—is reasonable. And if you're wondering if you have to pay taxes on crypto, we answer all your questions here . A Word of Warning (Credit: FTC) Crypto can be a fascinating investment prospect. The myriad uses of digital currency make it an interesting and enticing investment option, but every new investor should understand that they are in no way guaranteed massive returns on crypto investments. You’re more likely to lose money than become a billionaire overnight, so it’s worth reiterating: never, ever invest more than you can afford to lose. There are so many different crypto scams out there these days— fake cold wallets , Twitter hacks , mining apps , scam calls , database hacks —that the FTC has issued a warning to consumers . As such, we recommend you find a reputable wallet and exchange that offer robust security features. Use every single tool available to protect your assets so you'll be less likely to run into trouble long-term. About Our Expert John Bogna Contributor Experience John is a writer/photographer currently based in Houston, Texas. He's written on everything from politics to crypto wallets and worked as a photojournalist covering notable events like the Astros Victory Parade and the Day for Night Music Festival. Current hobbies include learning to shoot 35mm film, building Spotify playlists, and working his way through that menacing TBR stack on the nightstand. Latest By John Bogna Read Full Bio
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If you buy through affiliate links, we may earn commissions, which help support our [testing](https://www.pcmag.com/about/how-we-test-everything-we-review). 1. [Home](https://www.pcmag.com/) 2. [How-To](https://www.pcmag.com/how-to) 3. [Personal Finance](https://www.pcmag.com/categories/personal-finance) 4. [Cryptocurrency](https://www.pcmag.com/categories/cryptocurrency) # Bitcoin for Beginners: Simple Tips to Get Started With Crypto You don't need to be a millionaire to invest in crypto, but you do need to be cautious and realistic about potential returns on investment. Here's how to set up a crypto wallet and buy some Bitcoin. [![John Bogna](https://i.pcmag.com/imagery/authors/00s736Gof0LoJ3mthPuYHjN.fit_lim.size_100x100.v1633030503.jpg)](https://www.pcmag.com/authors/john-bogna) By [John Bogna](https://www.pcmag.com/authors/john-bogna) Updated April 22, 2022 [Threads](https://threads.net/intent/post?text=https%3A%2F%2Fwww.pcmag.com%2Fhow-to%2Fhow-to-buy-sell-and-manage-bitcoin "Threads (Opens in a new tab)") [Bluesky](https://bsky.app/intent/compose?text=https%3A%2F%2Fwww.pcmag.com%2Fhow-to%2Fhow-to-buy-sell-and-manage-bitcoin "Bluesky (Opens in a new tab)") [Reddit](http://www.reddit.com/submit?url=https%3A%2F%2Fwww.pcmag.com%2Fhow-to%2Fhow-to-buy-sell-and-manage-bitcoin&title=Bitcoin%20for%20Beginners%3A%20Simple%20Tips%20to%20Get%20Started%20With%20Crypto "Reddit (Opens in a new tab)") Social Share ![](https://i.pcmag.com/imagery/articles/015t2XCInYI4JmscpwIFyrH-1.fit_lim.v1634848953.jpg) (Image: rzoze19 / Shutterstock) Are you finally ready to take the plunge into the world of cryptocurrencies? It may seem complicated, but with a little research, beginners can be buying and selling Bitcoin in no time. Bitcoin is the most ubiquitous digital currency on the market, so we'll show you the ropes on buying, selling, and storing it. However, these tips can apply to other cryptocurrencies like Ethereum (or even Dogecoin, if that’s your thing). * ## What to Know Before Buying Bitcoin At the time of this writing, the [value of 1 Bitcoin](https://www.coinbase.com/price/bitcoin "(Opens in a new tab)") is just shy of \$40,000. But don’t worry, you can still buy Bitcoin in fractional amounts even if you aren’t obscenely wealthy. Before you buy your slice of Bitcoin pie, however, there are a few things you’ll need to do first. These include: ![PCMag logo](https://www.pcmag.com/images/pcmag-simplified.png) You May Also Like - Set up an account with a reputable cryptocurrency exchange. - Collect the documents needed to verify your identity for [Know Your Customer (KYC)](https://www.fool.com/the-ascent/cryptocurrency/articles/what-is-kyc-and-why-do-crypto-exchanges-require-it/ "(Opens in a new tab)") exchanges. - Get a cryptocurrency wallet. - Set up your wallet. - Make sure you have a fast, reliable internet connection. You’ll also need to go into the experience with an understanding that cryptocurrencies—and Bitcoin in particular—can be volatile, drastically changing in value from one day to the next. With that in mind, never invest more than you can afford to lose when purchasing cryptocurrency. * ## Choose a Cryptocurrency Wallet ![crypto wallet](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%20768%20432'%3E%3Crect%20fill='%23f7f7f7'%20/%3E%3C/svg%3E) Ledger Nano S Before you buy digital currency, you need a place to store it, and that’s where [crypto wallets](https://www.pcmag.com/picks/the-best-bitcoin-wallets) come in. They’re known by several names—hot wallet, hardware wallet, software wallet—but come in two main types: - Cold Wallet: A physical, hardware-based digital wallet for storing cryptocurrency that isn’t connected to the internet, akin to a very high-tech flash drive for storing cryptocurrency. Cold wallets come with multiple layers of security, and are more difficult to hack than an internet-connected wallet. - Hot Wallet: A software-based digital wallet that is connected to the internet and often comes in the form of an app. Over the years, certain companies have emerged as reliable crypto hardware wallet manufacturers. [Ledger](https://www.ledger.com/ "(Opens in a new tab)"), for example, has been making cold wallets for years now and could be a good place to start. [Trezor](https://trezor.io/ "(Opens in a new tab)") is another big name in the hardware wallet space. If you want to go with a digital wallet, most major cryptocurrency exchanges package an online wallet with your user account. [Coinbase](https://www.pcmag.com/reviews/coinbase-wallet), maybe the largest cryptocurrency exchange out there, does this. Its wallet is highly rated, and you don’t need a Coinbase account to use its app. * ### [Our Top-Rated Bitcoin Wallets](https://www.pcmag.com/picks/the-best-bitcoin-wallets) ### Atomic Wallet - Visit SIte at Atomic Wallet [See It](https://cc.pcmag.com/v1/otc/01r1WRIAJykbQgN4oGQ8FSi?merchant=06uvXXi5iZqx5zaOF89T6jE&url=https%3A%2F%2Fatomicwallet.io%2F&template=article-page&module=product-cards&element=product-card&item=buy-button&position=1&element_label=See+It&u=https%3A%2F%2Fwww.pcmag.com%2Fhow-to%2Fhow-to-buy-sell-and-manage-bitcoin&page_type=article&page_uuid=015t2XCInYI4JmscpwIFyrH&object_type=article&object_uuid=015t2XCInYI4JmscpwIFyrH&product_uuid=04T2XsdCnWHWbXBOocfGod6 "(Opens in a new tab)") ### Bitpay Wallet - Learn More at GitHub [See It](https://cc.pcmag.com/v1/otc/01r1WRIAJykbQgN4oGQ8FSi?merchant=014sWohHNdiRyUStMcxYzJw&url=https%3A%2F%2Fgithub.com%2Fbitpay%2Fcopay&template=article-page&module=product-cards&element=product-card&item=buy-button&position=2&element_label=See+It&u=https%3A%2F%2Fwww.pcmag.com%2Fhow-to%2Fhow-to-buy-sell-and-manage-bitcoin&page_type=article&page_uuid=015t2XCInYI4JmscpwIFyrH&object_type=article&object_uuid=015t2XCInYI4JmscpwIFyrH&product_uuid=07K3YV9JGScMxeytVVbvEUM "(Opens in a new tab)") ### BRD - Learn More at BRD [See It](https://cc.pcmag.com/v1/otc/01r1WRIAJykbQgN4oGQ8FSi?merchant=030ObYPaChf3wiGgmE2FBpd&url=https%3A%2F%2Fbrd.com%2F&template=article-page&module=product-cards&element=product-card&item=buy-button&position=3&element_label=See+It&u=https%3A%2F%2Fwww.pcmag.com%2Fhow-to%2Fhow-to-buy-sell-and-manage-bitcoin&page_type=article&page_uuid=015t2XCInYI4JmscpwIFyrH&object_type=article&object_uuid=015t2XCInYI4JmscpwIFyrH&product_uuid=01sVwjiwHeota0ecSvKMABs "(Opens in a new tab)") ### Coinbase Wallet - Learn More at Coinbase [See It](https://cc.pcmag.com/v1/otc/01r1WRIAJykbQgN4oGQ8FSi?merchant=01T0JeVTt4UQ0HUxyTwCtul&url=https%3A%2F%2Fwww.coinbase.com%2Fbuy-bitcoin&template=article-page&module=product-cards&element=product-card&item=buy-button&position=4&element_label=See+It&u=https%3A%2F%2Fwww.pcmag.com%2Fhow-to%2Fhow-to-buy-sell-and-manage-bitcoin&page_type=article&page_uuid=015t2XCInYI4JmscpwIFyrH&object_type=article&object_uuid=015t2XCInYI4JmscpwIFyrH&product_uuid=0655DuhMRfQK1JQfUsC60hg "(Opens in a new tab)") ### Exodus - \$0.00 at Exodus [See It](https://cc.pcmag.com/v1/otc/01r1WRIAJykbQgN4oGQ8FSi?merchant=04XPkpxYuvwMra6Qehl6FIh&url=https%3A%2F%2Fwww.exodus.io%2F&template=article-page&module=product-cards&element=product-card&item=buy-button&position=5&element_label=See+It&u=https%3A%2F%2Fwww.pcmag.com%2Fhow-to%2Fhow-to-buy-sell-and-manage-bitcoin&page_type=article&page_uuid=015t2XCInYI4JmscpwIFyrH&object_type=article&object_uuid=015t2XCInYI4JmscpwIFyrH&product_uuid=05MW4FW5fFsvWdLWIFtFlPH "(Opens in a new tab)") ### Electrum Bitcoin Wallet - Visit Site at Electrum Bitcoin Wallet [See It](https://cc.pcmag.com/v1/otc/01r1WRIAJykbQgN4oGQ8FSi?merchant=00DAup5ABXpJb93E71qsTHU&url=https%3A%2F%2Felectrum.org%2F%23home&template=article-page&module=product-cards&element=product-card&item=buy-button&position=6&element_label=See+It&u=https%3A%2F%2Fwww.pcmag.com%2Fhow-to%2Fhow-to-buy-sell-and-manage-bitcoin&page_type=article&page_uuid=015t2XCInYI4JmscpwIFyrH&object_type=article&object_uuid=015t2XCInYI4JmscpwIFyrH&product_uuid=01CdOW1QNdVKicyYPYc9JM1 "(Opens in a new tab)") ### Huobi Wallet - Visit Site at Huobi Wallet [See It](https://cc.pcmag.com/v1/otc/01r1WRIAJykbQgN4oGQ8FSi?merchant=00k0u8M6fVwfLJjZUjP724V&url=https%3A%2F%2Fwww.huobiwallet.com%2Fen%2F&template=article-page&module=product-cards&element=product-card&item=buy-button&position=7&element_label=See+It&u=https%3A%2F%2Fwww.pcmag.com%2Fhow-to%2Fhow-to-buy-sell-and-manage-bitcoin&page_type=article&page_uuid=015t2XCInYI4JmscpwIFyrH&object_type=article&object_uuid=015t2XCInYI4JmscpwIFyrH&product_uuid=00AwXWlQsYxSR6ATSn055Bg "(Opens in a new tab)") ### Jaxx Liberty - Visit Site at Jaxx Liberty [See It](https://cc.pcmag.com/v1/otc/01r1WRIAJykbQgN4oGQ8FSi?merchant=06XEvwHBI9f1X6eoK497xDW&url=https%3A%2F%2Fjaxx.io%2F&template=article-page&module=product-cards&element=product-card&item=buy-button&position=8&element_label=See+It&u=https%3A%2F%2Fwww.pcmag.com%2Fhow-to%2Fhow-to-buy-sell-and-manage-bitcoin&page_type=article&page_uuid=015t2XCInYI4JmscpwIFyrH&object_type=article&object_uuid=015t2XCInYI4JmscpwIFyrH&product_uuid=030ZYAONDnnJbDtBhMgqwbr "(Opens in a new tab)") ### Mycelium Bitcoin Wallet - Visit Site at Mycelium Bitcoin Wallet [See It](https://cc.pcmag.com/v1/otc/01r1WRIAJykbQgN4oGQ8FSi?merchant=00S4nuRTjKd6luysY9f00bL&url=https%3A%2F%2Fwallet.mycelium.com%2F&template=article-page&module=product-cards&element=product-card&item=buy-button&position=9&element_label=See+It&u=https%3A%2F%2Fwww.pcmag.com%2Fhow-to%2Fhow-to-buy-sell-and-manage-bitcoin&page_type=article&page_uuid=015t2XCInYI4JmscpwIFyrH&object_type=article&object_uuid=015t2XCInYI4JmscpwIFyrH&product_uuid=06CqPoXjvZSw23lYJOaBCmp "(Opens in a new tab)") * ## Set Up Your Cryptocurrency Wallet ![coinbase app](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%20768%20432'%3E%3Crect%20fill='%23f7f7f7'%20/%3E%3C/svg%3E) Coinbase app If you’re using a software wallet (aka, a hosted wallet, since it’s hosted on third-party servers), you just create an account with a username and password and enable [two-factor authentication](https://www.pcmag.com/how-to/two-factor-authentication-who-has-it-and-how-to-set-it-up). If you’re setting up your wallet as part of a cryptocurrency exchange account and that exchange uses KYC, you’ll need to provide documents like a driver’s license to verify your identity. Non-custodial hot wallets aren’t hosted by a third party and take more security measures than a standard hot wallet. Users get a randomly generated “private key” or “seed phrase” that they can use to access the wallet. These keys are usually around 12 words long and are known only by the user. It’s recommended that you store this passphrase somewhere safe and offline—it’s more difficult to hack that way. But if you lose the phrase, [you're locked out](https://www.pcmag.com/news/cryptocurrency-exchange-locked-out-of-funds-after-ceos-death) of your own wallet. Cold wallets also generate a key phrase known only to the user that allows access to the wallet. This key phrase is usually a string of 24 randomly generated words, and you’ll also create a PIN to gain access. Cold wallets work together with apps and software on your smartphone or desktop device, so you’ll install them as needed when setting up a cold wallet. ![exodus](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%20768%20432'%3E%3Crect%20fill='%23f7f7f7'%20/%3E%3C/svg%3E) Exodus desktop app A paper wallet is a type of cold wallet in which the public and private keys needed for a transaction are printed on a piece of paper for an extra measure of security. A transaction cannot be made without the information on the piece of paper, which is generated online and can then be printed. More often used for long-term or high-security investments, they’re intentionally slower to use than other kinds of cryptocurrency wallets. No matter which wallet type you use, you'll need to link a payment method to it for purchases. That can be a bank account, or a payment service like [PayPal](https://www.pcmag.com/reviews/paypal) or [Apple Pay](https://www.pcmag.com/reviews/apple-pay). When submitting payment information, you’ll have to verify your identity. * ## Pick an Exchange ![Gemini](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%20768%20432'%3E%3Crect%20fill='%23f7f7f7'%20/%3E%3C/svg%3E) Gemini Once you choose a wallet and set it up, it's time to find an exchange and make your first Bitcoin transaction. Not all crypto exchanges are regulated by the US Securities and Exchange Commission (SEC), so look for one that is. A few reputable and regulated crypto exchanges that are reasonably safe bets include: - [Coinbase](https://zdcs.link/pVpBZ "(Opens in a new tab)") - [Kraken](https://zdcs.link/Kjn8G "(Opens in a new tab)") - [Gemini](https://zdcs.link/3xLOM "(Opens in a new tab)") - [eToro](https://zdcs.link/jBD8y "(Opens in a new tab)") - [Crypto.com](https://zdcs.link/x02ed "(Opens in a new tab)") You’ll need to do some homework to determine which exchange is the best for your needs. Since Bitcoin is the original and most popular cryptocurrency, you can be reasonably sure that all the exchanges listed above will offer it. You may also want to look into what other cryptocurrencies they offer if you have plans to expand your portfolio. ![Newsletter Icon](https://www.pcmag.com/images/newsletter-envelope.svg) ![Newsletter Icon](https://www.pcmag.com/images/newsletter-envelope.svg) Get Our Best Stories\! ### Get the Most Out of Your Technology ![Tips, Tricks, and How-To Newsletter Image](https://i.pcmag.com/imagery/newsletters/20200977-contextual.fit_lpad.size_250x140.v1752613922.png) Sign up for the Tips, Tricks, and How-To newsletter for all of our best expert advice. Sign up for the Tips, Tricks, and How-To newsletter for all of our best expert advice. By clicking Sign Me Up, you confirm you are 16+ and agree to our [Terms of Use](https://www.pcmag.com/terms) and [Privacy Policy](https://www.pcmag.com/privacy). Thanks for signing up\! Your subscription has been confirmed. Keep an eye on your inbox\! ![crypto.com](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%20768%20432'%3E%3Crect%20fill='%23f7f7f7'%20/%3E%3C/svg%3E) Crypto.com Look into each company and see what measures they take to keep people’s money safe. Are they insured? If so, for how much? What security measures do they use? Do they have a KYC policy for identity verification? Know the answers to all of these questions before you proceed. Whichever exchange you choose will require proof of identification—usually a driver’s license or state-issued ID if you’re in the US—when signing up. Being asked to submit proof of address and scans of additional documents like a passport is also a possibility. Do your research, choose an exchange, set up your account, fund it with some cash, and you’ll be ready to start buying Bitcoin. * ## How to Buy and Sell Bitcoin ![coinbase](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%20768%20432'%3E%3Crect%20fill='%23f7f7f7'%20/%3E%3C/svg%3E) Coinbase.com Now that you’re ready to purchase Bitcoin, you’ll go through the process of buying however much you can afford. The process will be different depending on what exchange you use. Some just have a “buy” and “sell” button where you specify how much currency you want to purchase or sell off. Others have you submit an order similar to a conventional stock exchange. Most cryptocurrency exchanges let you buy and sell using three types of orders: ### Recommended by Our Editors [![How Does Bitcoin Mining Work?](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%20400%20225'%3E%3Crect%20fill='%23f7f7f7'%20/%3E%3C/svg%3E)](https://www.pcmag.com/how-to/how-does-bitcoin-mining-work) [How Does Bitcoin Mining Work?](https://www.pcmag.com/how-to/how-does-bitcoin-mining-work) [![Better Than Bitcoin? Stablecoins Explained](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%20400%20225'%3E%3Crect%20fill='%23f7f7f7'%20/%3E%3C/svg%3E)](https://www.pcmag.com/how-to/better-than-bitcoin-stablecoins-explained) [Better Than Bitcoin? Stablecoins Explained](https://www.pcmag.com/how-to/better-than-bitcoin-stablecoins-explained) [![What Is a Meme Coin and How Do They Work?](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%20400%20225'%3E%3Crect%20fill='%23f7f7f7'%20/%3E%3C/svg%3E)](https://www.pcmag.com/how-to/what-is-a-meme-coin-how-do-they-work) [What Is a Meme Coin and How Do They Work?](https://www.pcmag.com/how-to/what-is-a-meme-coin-how-do-they-work) - Market Order: An order to buy a set amount of Bitcoin at the current market price. This is very quick to execute and usually done in seconds. - Stop Order: Sets a price at which you want to buy or sell Bitcoin. This type of order can be used to sell Bitcoin at a high before it drops, but can take more time to execute than a market order. - Limit Order: Instructs the exchange to buy or sell Bitcoin at a specific price or better. These are visible to the market, and can take longer than stop orders to complete. This can be good for buying Bitcoin once it comes down in price somewhat. ![kraken](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%20768%20432'%3E%3Crect%20fill='%23f7f7f7'%20/%3E%3C/svg%3E) kraken.com Some exchanges offer even more order types than the ones listed above. As of this writing, Kraken currently offers the [most order variety](https://support.kraken.com/hc/en-us/sections/200577136-Order-types "(Opens in a new tab)"), including stop-loss and take-profit orders. Start with the basics listed above, and work your way up from there. As cryptocurrencies have evolved and gained a measure of legitimacy in the public eye, crypto exchanges have grown with them into something that can be nearly equivalent to traditional stock exchanges. Some will even let you [choose a recurring dollar amount](https://help.coinbase.com/en/coinbase/trading-and-funding/buying-selling-or-converting-crypto/how-can-i-create-or-cancel-a-recurring-transaction "(Opens in a new tab)") to invest every day, week, or month. Various P2P cryptocurrency and Bitcoin exchanges also exist, but we recommend sticking to conventional exchanges to trade and buy Bitcoin, unless you know the person with whom you’re making a P2P exchange. * ## Make a Plan and Manage Your Assets Choosing your investment strategy is important to success in investing. A common strategy is to buy and hold onto Bitcoin in the hopes of riding out the ups and downs in valuation for a higher average return. JPMorgan Chase analyst Nikolaos Panigirtzoglou favors this strategy. He recently [told Insider](https://www.businessinsider.com/buy-bitcoin "(Opens in a new tab)") that "It is better to buy and hold, perhaps allocating a small portion of your portfolio to cryptocurrencies, focusing on the ones typically held by institutional investors, such as Bitcoin and Ethereum at the moment." Another popular strategy is the dollar-cost-average (DCA) approach: buying a tiny bit of Bitcoin every week or month without paying much attention to the fluctuations in price. That way you continue to build your investment at a steady pace you set, holding onto it for the long term. Experts recommend allocating a very low percentage of your portfolio to cryptocurrency investments, especially when starting out. A single digit amount—like 5% of your total investment portfolio—is reasonable. And if you're wondering if you have to pay taxes on crypto, we [answer all your questions here](https://www.pcmag.com/news/cryptocurrency-and-taxes-what-you-need-to-know). * ## A Word of Warning ![ftc chart](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%20768%20432'%3E%3Crect%20fill='%23f7f7f7'%20/%3E%3C/svg%3E) (Credit: FTC) Crypto can be a fascinating investment prospect. The myriad uses of digital currency make it an interesting and enticing investment option, but every new investor should understand that they are in no way guaranteed massive returns on crypto investments. You’re more likely to lose money than become a billionaire overnight, so it’s worth reiterating: never, ever invest more than you can afford to lose. There are so many different crypto scams out there these days—[fake cold wallets](https://www.pcmag.com/news/scammers-are-using-fake-devices-to-steal-cryptocurrency-wallets), [Twitter hacks](https://www.pcmag.com/news/huge-twitter-hack-hits-accounts-of-elon-musk-bill-gates-obama-more), [mining apps](https://www.pcmag.com/news/dozens-of-android-cryptocurrency-mining-apps-turn-out-to-be-scams), [scam calls](https://www.pcmag.com/news/americans-have-already-lost-30-billion-to-scam-calls-in-2021), database [hacks](https://www.pcmag.com/news/coinbase-discloses-that-6000-customers-got-hacked-this-spring)—that the FTC has issued a [warning to consumers](https://www.pcmag.com/news/ftc-to-consumers-be-careful-cryptocurrency-scams-are-booming). As such, we recommend you find a reputable wallet and exchange that offer robust security features. Use every single tool available to protect your assets so you'll be less likely to run into trouble long-term. ## About Our Expert ![John Bogna](https://i.pcmag.com/imagery/authors/00s736Gof0LoJ3mthPuYHjN.fit_lim.size_100x100.v1633030503.jpg) John Bogna Contributor * Experience John is a writer/photographer currently based in Houston, Texas. He's written on everything from politics to crypto wallets and worked as a photojournalist covering notable events like the Astros Victory Parade and the Day for Night Music Festival. Current hobbies include learning to shoot 35mm film, building Spotify playlists, and working his way through that menacing TBR stack on the nightstand. Latest By John Bogna - [Fast Charging Is Everywhere Now, But Is it Dangerous?](https://www.pcmag.com/how-to/mobile-phone-fast-charging-is-everywhere-is-it-dangerous) - [Cryptocurrency Scammers Are Getting Sneakier. Here's How to Outsmart Them](https://www.pcmag.com/how-to/cryptocurrency-scammers-are-getting-sneakier-how-to-outsmart-them) - [FAT32 vs. ExFAT vs. NTFS: Which Format Is Best for Your Storage Drive?](https://www.pcmag.com/how-to/fat32-vs-exfat-vs-ntfs-which-format-is-best-for-your-storage-drive) - [Is Your Phone Call Really Private? How to Tell if You're Being Tapped](https://www.pcmag.com/how-to/how-to-tell-if-your-phone-is-being-tapped-what-to-do) - [Eyes on the Road: 8 Android Auto Tips Every Driver Needs](https://www.pcmag.com/how-to/eyes-on-the-road-android-auto-tips-every-driver-needs) - [More from John Bogna](https://www.pcmag.com/authors/john-bogna) [Read Full Bio](https://www.pcmag.com/authors/john-bogna) ## Table of Contents Table of Contents Advertisement ### Weekend Project [![Maximize Your Mood Lighting. 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Readable Markdown	Are you finally ready to take the plunge into the world of cryptocurrencies? It may seem complicated, but with a little research, beginners can be buying and selling Bitcoin in no time. Bitcoin is the most ubiquitous digital currency on the market, so we'll show you the ropes on buying, selling, and storing it. However, these tips can apply to other cryptocurrencies like Ethereum (or even Dogecoin, if that’s your thing). * ## What to Know Before Buying Bitcoin At the time of this writing, the [value of 1 Bitcoin](https://www.coinbase.com/price/bitcoin "(Opens in a new tab)") is just shy of \$40,000. But don’t worry, you can still buy Bitcoin in fractional amounts even if you aren’t obscenely wealthy. Before you buy your slice of Bitcoin pie, however, there are a few things you’ll need to do first. These include: - Set up an account with a reputable cryptocurrency exchange. - Collect the documents needed to verify your identity for [Know Your Customer (KYC)](https://www.fool.com/the-ascent/cryptocurrency/articles/what-is-kyc-and-why-do-crypto-exchanges-require-it/ "(Opens in a new tab)") exchanges. - Get a cryptocurrency wallet. - Set up your wallet. - Make sure you have a fast, reliable internet connection. You’ll also need to go into the experience with an understanding that cryptocurrencies—and Bitcoin in particular—can be volatile, drastically changing in value from one day to the next. With that in mind, never invest more than you can afford to lose when purchasing cryptocurrency. * ## Choose a Cryptocurrency Wallet ![crypto wallet](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%20768%20432'%3E%3Crect%20fill='%23f7f7f7'%20/%3E%3C/svg%3E) Ledger Nano S Before you buy digital currency, you need a place to store it, and that’s where [crypto wallets](https://www.pcmag.com/picks/the-best-bitcoin-wallets) come in. They’re known by several names—hot wallet, hardware wallet, software wallet—but come in two main types: - Cold Wallet: A physical, hardware-based digital wallet for storing cryptocurrency that isn’t connected to the internet, akin to a very high-tech flash drive for storing cryptocurrency. Cold wallets come with multiple layers of security, and are more difficult to hack than an internet-connected wallet. - Hot Wallet: A software-based digital wallet that is connected to the internet and often comes in the form of an app. Over the years, certain companies have emerged as reliable crypto hardware wallet manufacturers. [Ledger](https://www.ledger.com/ "(Opens in a new tab)"), for example, has been making cold wallets for years now and could be a good place to start. [Trezor](https://trezor.io/ "(Opens in a new tab)") is another big name in the hardware wallet space. If you want to go with a digital wallet, most major cryptocurrency exchanges package an online wallet with your user account. [Coinbase](https://www.pcmag.com/reviews/coinbase-wallet), maybe the largest cryptocurrency exchange out there, does this. Its wallet is highly rated, and you don’t need a Coinbase account to use its app. * ### [Our Top-Rated Bitcoin Wallets](https://www.pcmag.com/picks/the-best-bitcoin-wallets) Atomic Wallet - Visit SIte at Atomic Wallet [See It](https://cc.pcmag.com/v1/otc/01r1WRIAJykbQgN4oGQ8FSi?merchant=06uvXXi5iZqx5zaOF89T6jE&url=https%3A%2F%2Fatomicwallet.io%2F&template=article-page&module=product-cards&element=product-card&item=buy-button&position=1&element_label=See+It&u=https%3A%2F%2Fwww.pcmag.com%2Fhow-to%2Fhow-to-buy-sell-and-manage-bitcoin&page_type=article&page_uuid=015t2XCInYI4JmscpwIFyrH&object_type=article&object_uuid=015t2XCInYI4JmscpwIFyrH&product_uuid=04T2XsdCnWHWbXBOocfGod6 "(Opens in a new tab)") Bitpay Wallet - Learn More at GitHub [See It](https://cc.pcmag.com/v1/otc/01r1WRIAJykbQgN4oGQ8FSi?merchant=014sWohHNdiRyUStMcxYzJw&url=https%3A%2F%2Fgithub.com%2Fbitpay%2Fcopay&template=article-page&module=product-cards&element=product-card&item=buy-button&position=2&element_label=See+It&u=https%3A%2F%2Fwww.pcmag.com%2Fhow-to%2Fhow-to-buy-sell-and-manage-bitcoin&page_type=article&page_uuid=015t2XCInYI4JmscpwIFyrH&object_type=article&object_uuid=015t2XCInYI4JmscpwIFyrH&product_uuid=07K3YV9JGScMxeytVVbvEUM "(Opens in a new tab)") Coinbase Wallet - Learn More at Coinbase [See It](https://cc.pcmag.com/v1/otc/01r1WRIAJykbQgN4oGQ8FSi?merchant=01T0JeVTt4UQ0HUxyTwCtul&url=https%3A%2F%2Fwww.coinbase.com%2Fbuy-bitcoin&template=article-page&module=product-cards&element=product-card&item=buy-button&position=4&element_label=See+It&u=https%3A%2F%2Fwww.pcmag.com%2Fhow-to%2Fhow-to-buy-sell-and-manage-bitcoin&page_type=article&page_uuid=015t2XCInYI4JmscpwIFyrH&object_type=article&object_uuid=015t2XCInYI4JmscpwIFyrH&product_uuid=0655DuhMRfQK1JQfUsC60hg "(Opens in a new tab)") Electrum Bitcoin Wallet - Visit Site at Electrum Bitcoin Wallet [See It](https://cc.pcmag.com/v1/otc/01r1WRIAJykbQgN4oGQ8FSi?merchant=00DAup5ABXpJb93E71qsTHU&url=https%3A%2F%2Felectrum.org%2F%23home&template=article-page&module=product-cards&element=product-card&item=buy-button&position=6&element_label=See+It&u=https%3A%2F%2Fwww.pcmag.com%2Fhow-to%2Fhow-to-buy-sell-and-manage-bitcoin&page_type=article&page_uuid=015t2XCInYI4JmscpwIFyrH&object_type=article&object_uuid=015t2XCInYI4JmscpwIFyrH&product_uuid=01CdOW1QNdVKicyYPYc9JM1 "(Opens in a new tab)") Huobi Wallet - Visit Site at Huobi Wallet [See It](https://cc.pcmag.com/v1/otc/01r1WRIAJykbQgN4oGQ8FSi?merchant=00k0u8M6fVwfLJjZUjP724V&url=https%3A%2F%2Fwww.huobiwallet.com%2Fen%2F&template=article-page&module=product-cards&element=product-card&item=buy-button&position=7&element_label=See+It&u=https%3A%2F%2Fwww.pcmag.com%2Fhow-to%2Fhow-to-buy-sell-and-manage-bitcoin&page_type=article&page_uuid=015t2XCInYI4JmscpwIFyrH&object_type=article&object_uuid=015t2XCInYI4JmscpwIFyrH&product_uuid=00AwXWlQsYxSR6ATSn055Bg "(Opens in a new tab)") Jaxx Liberty - Visit Site at Jaxx Liberty [See It](https://cc.pcmag.com/v1/otc/01r1WRIAJykbQgN4oGQ8FSi?merchant=06XEvwHBI9f1X6eoK497xDW&url=https%3A%2F%2Fjaxx.io%2F&template=article-page&module=product-cards&element=product-card&item=buy-button&position=8&element_label=See+It&u=https%3A%2F%2Fwww.pcmag.com%2Fhow-to%2Fhow-to-buy-sell-and-manage-bitcoin&page_type=article&page_uuid=015t2XCInYI4JmscpwIFyrH&object_type=article&object_uuid=015t2XCInYI4JmscpwIFyrH&product_uuid=030ZYAONDnnJbDtBhMgqwbr "(Opens in a new tab)") Mycelium Bitcoin Wallet - Visit Site at Mycelium Bitcoin Wallet [See It](https://cc.pcmag.com/v1/otc/01r1WRIAJykbQgN4oGQ8FSi?merchant=00S4nuRTjKd6luysY9f00bL&url=https%3A%2F%2Fwallet.mycelium.com%2F&template=article-page&module=product-cards&element=product-card&item=buy-button&position=9&element_label=See+It&u=https%3A%2F%2Fwww.pcmag.com%2Fhow-to%2Fhow-to-buy-sell-and-manage-bitcoin&page_type=article&page_uuid=015t2XCInYI4JmscpwIFyrH&object_type=article&object_uuid=015t2XCInYI4JmscpwIFyrH&product_uuid=06CqPoXjvZSw23lYJOaBCmp "(Opens in a new tab)") * ## Set Up Your Cryptocurrency Wallet ![coinbase app](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%20768%20432'%3E%3Crect%20fill='%23f7f7f7'%20/%3E%3C/svg%3E) Coinbase app If you’re using a software wallet (aka, a hosted wallet, since it’s hosted on third-party servers), you just create an account with a username and password and enable [two-factor authentication](https://www.pcmag.com/how-to/two-factor-authentication-who-has-it-and-how-to-set-it-up). If you’re setting up your wallet as part of a cryptocurrency exchange account and that exchange uses KYC, you’ll need to provide documents like a driver’s license to verify your identity. Non-custodial hot wallets aren’t hosted by a third party and take more security measures than a standard hot wallet. Users get a randomly generated “private key” or “seed phrase” that they can use to access the wallet. These keys are usually around 12 words long and are known only by the user. It’s recommended that you store this passphrase somewhere safe and offline—it’s more difficult to hack that way. But if you lose the phrase, [you're locked out](https://www.pcmag.com/news/cryptocurrency-exchange-locked-out-of-funds-after-ceos-death) of your own wallet. Cold wallets also generate a key phrase known only to the user that allows access to the wallet. This key phrase is usually a string of 24 randomly generated words, and you’ll also create a PIN to gain access. Cold wallets work together with apps and software on your smartphone or desktop device, so you’ll install them as needed when setting up a cold wallet. ![exodus](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%20768%20432'%3E%3Crect%20fill='%23f7f7f7'%20/%3E%3C/svg%3E) Exodus desktop app A paper wallet is a type of cold wallet in which the public and private keys needed for a transaction are printed on a piece of paper for an extra measure of security. A transaction cannot be made without the information on the piece of paper, which is generated online and can then be printed. More often used for long-term or high-security investments, they’re intentionally slower to use than other kinds of cryptocurrency wallets. No matter which wallet type you use, you'll need to link a payment method to it for purchases. That can be a bank account, or a payment service like [PayPal](https://www.pcmag.com/reviews/paypal) or [Apple Pay](https://www.pcmag.com/reviews/apple-pay). When submitting payment information, you’ll have to verify your identity. * ## Pick an Exchange ![Gemini](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%20768%20432'%3E%3Crect%20fill='%23f7f7f7'%20/%3E%3C/svg%3E) Gemini Once you choose a wallet and set it up, it's time to find an exchange and make your first Bitcoin transaction. Not all crypto exchanges are regulated by the US Securities and Exchange Commission (SEC), so look for one that is. A few reputable and regulated crypto exchanges that are reasonably safe bets include: - [Coinbase](https://zdcs.link/pVpBZ "(Opens in a new tab)") - [Kraken](https://zdcs.link/Kjn8G "(Opens in a new tab)") - [Gemini](https://zdcs.link/3xLOM "(Opens in a new tab)") - [eToro](https://zdcs.link/jBD8y "(Opens in a new tab)") - [Crypto.com](https://zdcs.link/x02ed "(Opens in a new tab)") You’ll need to do some homework to determine which exchange is the best for your needs. Since Bitcoin is the original and most popular cryptocurrency, you can be reasonably sure that all the exchanges listed above will offer it. You may also want to look into what other cryptocurrencies they offer if you have plans to expand your portfolio. ![Newsletter Icon](https://www.pcmag.com/images/newsletter-envelope.svg) ![Newsletter Icon](https://www.pcmag.com/images/newsletter-envelope.svg) Get Our Best Stories\! ### Get the Most Out of Your Technology ![Tips, Tricks, and How-To Newsletter Image](https://i.pcmag.com/imagery/newsletters/20200977-contextual.fit_lpad.size_250x140.v1752613922.png) Thanks for signing up\! Your subscription has been confirmed. Keep an eye on your inbox\! ![crypto.com](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%20768%20432'%3E%3Crect%20fill='%23f7f7f7'%20/%3E%3C/svg%3E) Crypto.com Look into each company and see what measures they take to keep people’s money safe. Are they insured? If so, for how much? What security measures do they use? Do they have a KYC policy for identity verification? Know the answers to all of these questions before you proceed. Whichever exchange you choose will require proof of identification—usually a driver’s license or state-issued ID if you’re in the US—when signing up. Being asked to submit proof of address and scans of additional documents like a passport is also a possibility. Do your research, choose an exchange, set up your account, fund it with some cash, and you’ll be ready to start buying Bitcoin. * ## How to Buy and Sell Bitcoin ![coinbase](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%20768%20432'%3E%3Crect%20fill='%23f7f7f7'%20/%3E%3C/svg%3E) Coinbase.com Now that you’re ready to purchase Bitcoin, you’ll go through the process of buying however much you can afford. The process will be different depending on what exchange you use. Some just have a “buy” and “sell” button where you specify how much currency you want to purchase or sell off. Others have you submit an order similar to a conventional stock exchange. Most cryptocurrency exchanges let you buy and sell using three types of orders: ### Recommended by Our Editors [![How Does Bitcoin Mining Work?](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%20400%20225'%3E%3Crect%20fill='%23f7f7f7'%20/%3E%3C/svg%3E)](https://www.pcmag.com/how-to/how-does-bitcoin-mining-work) [![Better Than Bitcoin? Stablecoins Explained](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%20400%20225'%3E%3Crect%20fill='%23f7f7f7'%20/%3E%3C/svg%3E)](https://www.pcmag.com/how-to/better-than-bitcoin-stablecoins-explained) [![What Is a Meme Coin and How Do They Work?](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%20400%20225'%3E%3Crect%20fill='%23f7f7f7'%20/%3E%3C/svg%3E)](https://www.pcmag.com/how-to/what-is-a-meme-coin-how-do-they-work) - Market Order: An order to buy a set amount of Bitcoin at the current market price. This is very quick to execute and usually done in seconds. - Stop Order: Sets a price at which you want to buy or sell Bitcoin. This type of order can be used to sell Bitcoin at a high before it drops, but can take more time to execute than a market order. - Limit Order: Instructs the exchange to buy or sell Bitcoin at a specific price or better. These are visible to the market, and can take longer than stop orders to complete. This can be good for buying Bitcoin once it comes down in price somewhat. ![kraken](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%20768%20432'%3E%3Crect%20fill='%23f7f7f7'%20/%3E%3C/svg%3E) kraken.com Some exchanges offer even more order types than the ones listed above. As of this writing, Kraken currently offers the [most order variety](https://support.kraken.com/hc/en-us/sections/200577136-Order-types "(Opens in a new tab)"), including stop-loss and take-profit orders. Start with the basics listed above, and work your way up from there. As cryptocurrencies have evolved and gained a measure of legitimacy in the public eye, crypto exchanges have grown with them into something that can be nearly equivalent to traditional stock exchanges. Some will even let you [choose a recurring dollar amount](https://help.coinbase.com/en/coinbase/trading-and-funding/buying-selling-or-converting-crypto/how-can-i-create-or-cancel-a-recurring-transaction "(Opens in a new tab)") to invest every day, week, or month. Various P2P cryptocurrency and Bitcoin exchanges also exist, but we recommend sticking to conventional exchanges to trade and buy Bitcoin, unless you know the person with whom you’re making a P2P exchange. * ## Make a Plan and Manage Your Assets Choosing your investment strategy is important to success in investing. A common strategy is to buy and hold onto Bitcoin in the hopes of riding out the ups and downs in valuation for a higher average return. JPMorgan Chase analyst Nikolaos Panigirtzoglou favors this strategy. He recently [told Insider](https://www.businessinsider.com/buy-bitcoin "(Opens in a new tab)") that "It is better to buy and hold, perhaps allocating a small portion of your portfolio to cryptocurrencies, focusing on the ones typically held by institutional investors, such as Bitcoin and Ethereum at the moment." Another popular strategy is the dollar-cost-average (DCA) approach: buying a tiny bit of Bitcoin every week or month without paying much attention to the fluctuations in price. That way you continue to build your investment at a steady pace you set, holding onto it for the long term. Experts recommend allocating a very low percentage of your portfolio to cryptocurrency investments, especially when starting out. A single digit amount—like 5% of your total investment portfolio—is reasonable. And if you're wondering if you have to pay taxes on crypto, we [answer all your questions here](https://www.pcmag.com/news/cryptocurrency-and-taxes-what-you-need-to-know). * ## A Word of Warning ![ftc chart](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%20768%20432'%3E%3Crect%20fill='%23f7f7f7'%20/%3E%3C/svg%3E) (Credit: FTC) Crypto can be a fascinating investment prospect. The myriad uses of digital currency make it an interesting and enticing investment option, but every new investor should understand that they are in no way guaranteed massive returns on crypto investments. You’re more likely to lose money than become a billionaire overnight, so it’s worth reiterating: never, ever invest more than you can afford to lose. There are so many different crypto scams out there these days—[fake cold wallets](https://www.pcmag.com/news/scammers-are-using-fake-devices-to-steal-cryptocurrency-wallets), [Twitter hacks](https://www.pcmag.com/news/huge-twitter-hack-hits-accounts-of-elon-musk-bill-gates-obama-more), [mining apps](https://www.pcmag.com/news/dozens-of-android-cryptocurrency-mining-apps-turn-out-to-be-scams), [scam calls](https://www.pcmag.com/news/americans-have-already-lost-30-billion-to-scam-calls-in-2021), database [hacks](https://www.pcmag.com/news/coinbase-discloses-that-6000-customers-got-hacked-this-spring)—that the FTC has issued a [warning to consumers](https://www.pcmag.com/news/ftc-to-consumers-be-careful-cryptocurrency-scams-are-booming). As such, we recommend you find a reputable wallet and exchange that offer robust security features. Use every single tool available to protect your assets so you'll be less likely to run into trouble long-term. ## About Our Expert ![John Bogna](https://i.pcmag.com/imagery/authors/00s736Gof0LoJ3mthPuYHjN.fit_lim.size_100x100.v1633030503.jpg) John Bogna Contributor *** Experience John is a writer/photographer currently based in Houston, Texas. He's written on everything from politics to crypto wallets and worked as a photojournalist covering notable events like the Astros Victory Parade and the Day for Night Music Festival. Current hobbies include learning to shoot 35mm film, building Spotify playlists, and working his way through that menacing TBR stack on the nightstand. Latest By John Bogna [Read Full Bio](https://www.pcmag.com/authors/john-bogna)
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