Wallet Tips      (Use Mouse)                                                

The Buy/Sell Coin Cycle




                   Red Warning, Reminder                                     

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Step 1 Bank Account

Step 2 Exchange, Buy Coins

Step 3 Download Wallet

Mastercard has been known to block crypto. Paypal and other services can be removed. 2FA can be accessed by corrupt staff, selling your passwords to hackers. Isn't that awesome?!

Highly recommended you use a stand alone bank account. Ideally a credit union bank, local access. Your weakest security is your cell phone. Do not store personal keys, passwords on there.
Start with buying $20 worth of BTC. It's one of the most secure. Then move into buying other coins. Factor in transfer fees, taxes. Avoid dead coins, discontinued projects such as Ethereum Classic.

Don't be stupid and tell people how much money you made, lost. Because the IRS is always listening. If you brag, lie. If the government wants your money, illegally. You screwed yourself. Consult a tax expert prior to investing.
Check for the latest Wallet version. Ideally download the software from the coin's site. If it links to a third party site like Github. That can be compromised. Software that has not been updated in over a year is probably not safe!

Hackers can inject their own code, reroute traffic to a fake location. Make sure the links are legit. Once you're secure. Take the wallet offline. Ideally on a Flashcard. Make a paper wallet (written on paper) as backup! Don't forget to encrypt.

Step 4 Transfer

Step 5 Come Back, Sell

Step 6 Cash Out

Now that you own coins. You can move them into a hardware wallet. DO NOT leave your coins on an exchange. Hackers can steal them, or the exchange shutters. Exchanges will often have a bare minimum withdrawal. This can be $5 to $20. Some coins can be more of less.

Exchanges make money on fees. If they are making money by holding coins. They are probably selling your stuff. That's bad. Mt Gox did this.
Move your coins from cold storage back onto an exchange. Avoid the ones that are popular like, Coinbase. Use ones that are the most reliable. Like Coinbase. It's a joke on how limited selection has been over the years. Prepare to search.

When you transfer coins back onto an exchange. Start with $20 worth of one coin type. Sell them on the exchange. Move it into USD. Initially in a test run. It's a great way to avoid a bot stealing your all coins.
Make sure your bank accepts your money. If you go over $20,000 they may block or delay cashing out. If you made a fortune, you may be in for a wait. You can use GDAX to move everything into USD, avoiding ups and downs. Remember they make money on the fees.

Rinse repeat every dip cycle. Buy in, transfer to wallets. Sell in the growth cycle. Don't be afraid to fully cash out each time if it's a massive growth cycle. You can always buy back in, change coins. A typical cycle lasts 3-6 months.