I know, I keep putting it off, dumb of me.
At least though two of my kids are into it.
You better buy some before they make it illegal for people with less than $200,000 people to buy. Like they do for most other good investments. Only the rich get chance at investments that can make more than 4% a year for "your protection". Can't have you taking your money out of your 401 K where wall Street traders make their commissions!
But of course you CAN play the lotto where you are guaranteed to lose your money.
Go to binance.us if in the USA. Buy some today.
Or better yet a Bitcoin ATM if there is one near you.
Do very small test transactions first until you know how to do it. Very small like $10. Do at least five. All the way through withdrawal to your paper wallet addresses. Then put some real amounts in some paper wallets and make multiple copies placed in several places and forget about them. Safe deposit box, buried in the ground in watertight things etc. Do not buy hard wallets or electronic gizmos to secure your crypto. They are a gimmick and all have you write down a failsafe password on paper anyway so you might as well just have paper wallets which were the original way to hold crypto and millions of dollars are held that way still today and work just fine and are free.
Spread your crypto out over multiple paper wallets and don't keep them all in the same place. Then forget them. Don't look at prices daily monthly or yearly. Just know in 10 years it will be the most money of all the investments you have no matter how small it is today.
Remember in 10 or maybe 3 years they will be worth 10x so you aren't storing a $1000 on each wallet you are storing $10,000. So unless you want to be messing with $10,000 wallets in 10 or 3 years (and thinking if I mess this transaction up I lose $10,000) put no more than $100 on each so they'll only be $1000 in ten years.
Sounds good, I really appreciate the info.
(post is archived)