How to Buy Cryptocurrency for Beginners (Ultimate Step-by-Step Guide) Part 1

Hey guys! I'm crypto Casey and I'm a crypto currency expert. Today I'm going to show you how to get started in investing in digital assets like Bitcoin, Ethereum, and Litecoin safely and securely step-by-step. I'm going to make this as easy as possible for you guys, but before we get started I want to share with you two important things you need to know before transforming some of your wealth into digital assets.

Number one: these types of investments are not like anything else you may be familiar with. Unlike banks, credit unions, and traditional stock exchanges there are virtually no fail safes in place to protect you if you make a mistake or if you don't understand what you're doing. There's no hotline you can call when you get stuck; there's no corporate headquarters you can reach out to if you lose your funds; there are no FDIC insured banks behind these investments; and this all means at any time you could lose all of your investments from hackers or user error with no recourse at all. Cryptocurrency is cutting edge technology; it's the modern-day Wild Wild West. So it requires some time and focused energy to wrap your head around. Luckily for you, I've done a lot of the legwork to compile this step-by-step guide to ensure you receive the knowledge and understanding you need to be successful in cryptocurrency investments.

The second thing you need to know before going any further is the golden rule of investing: NEVER invest more than you can afford to lose. High risk can lead to high reward, and we humans have a natural tendency to want to overreach, but you need to figure out an amount you're comfortable with investing and, more importantly, an amount you can truly afford to invest. Then you need to stick with that amount and be patient in the process.

Cryptocurrency is a lot more volatile and unpredictable than the stock market. Unlike the nine-to-five in New York Stock Exchange, cryptocurrency is traded around the world 24/7. So if you want to get a good night's sleep as a crypto investor, you need to budget the amount of money you're going to invest and stick to it. I've broken down this process into 10 easy steps.

So let's get started. Step 1: this may come as a surprise to you because crypto stuff is pretty high-tech, but the first thing you need to do is get yourself some paper notebooks. Yes, I realize some of you have never used such ancient recording techniques like a pen and paper before, but seriously buy a couple notebooks from Amazon. I personally love to use these moleskin notebooks from Amazon with grid paper. I'm a huge fan of grid paper because it helps organize information in a way that's easy to read.

You need at least two notebooks, but I suggest three. Step number 2: use your paper notebooks to store all of your passwords, login credentials, and any other sensitive information regarding your crypto wallets, exchanges, and other accounts I'm going to walk you through setting up later on in this video. Never store your passwords or login data online with a password manager, on your phone, or any device connected to the Internet.

You need to go old fashioned and store all of your essentials on the paper notebook with paper notebook backups. This is why I recommend buying at least two paper notebooks. You should store all these notebooks in separate locations to be safe. You never know if fire may break out or with all of these crazy hurricanes and flooding, your house or your office could be affected and your paper notebook could be destroyed.

Consider storing your notebook in a safe place at your house and storing the other one in a safety deposit box at a bank. Remember there are no pre-built fail safes in this technology and there are hackers everywhere trying to steal your funds. It's up to you to take the necessary steps to protect your investments.

Also, if you decided to buy the moleskin notebook I suggested, take a moment to fill in the "in case of loss please return to" section and more importantly, the "as a reward" line. Think carefully and consider how much would you pay to incentivize somebody who found your notebook to return it safely where it belongs. Step number 3, let's talk about passwords. Passwords related to everything crypto need to be very strong. I'm going to share with you some tips that will help you create strong passwords throughout the account setup process.

Hackers are not just sitting on computers trying to guess your password. They use programs that automatically run through massive databases of common passwords and random combinations of characters. So to combat this you need to make very long passwords containing random words and letters, capitalization and special characters. Don't use common phrases, famous movie lines, or a Bible verse.

And NEVER use the same password for more than one account. We will be setting up a lot of different accounts later on in this video, so be prepared to create several long, strong passwords throughout the process. I don't recommend ever storing passwords for crypto accounts on a password manager. Cloud-based password managers like LastPass and OnePassword are vulnerable to remote attacks. Even though those accounts are encrypted, if your master password is hacked then you're completely exposed. So do not rely on one single password to protect your investments.

Also never store passwords in your browser because those are vulnerable as well. That's why I recommend only storing passwords in your paper notebooks. Next, if any accounts require security questions, treat the answers like your passwords: create fake, long complex answers. People can easily find out what your mother's maiden name was and where you went to high school on things like Facebook. So keep that in mind.

Also, just like your passwords, store the fake answers to security questions in your paper notebook. Step number 4: you need to ensure that your computer is secure and free of any malware before you start setting up any of the accounts and wallets I will walk you through later in this video. There are ton of free tools and services available to scan and secure your computer. In this video I'm going to walk you through the scanning, cleaning, and securing process using Malwarebytes. Malwarebytes is a high-quality cybersecurity solution that will help you protect your computer from hackers.

First, if you don't already require a strong password to access your computer. So go ahead and make your first entry into your paper notebook: your brand-new super strong computer password. Next, let's do a full and complete malware scan of your computer using Malwarebytes. Open your internet browser and go to Malwarebytes.com. Scroll down to all products and under the "For Home" section, choose Malwarebytes for Mac or PC. In this video demonstration, we will install for Mac.

Click "Learn More" and then click "Free Download." Retrieve the downloaded file and open it to start the installation process. Click through the installation wizard until the installation is complete and then click "Close." Next, open Malwarebytes on your computer and click "Scan Now." If you are clean, congratulations! If you have some threat files, Malwarebytes will quarantine them.

Go to the quarantine section and click "Show Quarantine" to view the files that were quarantined. Then click the "Clear Quarantine" button to permanently delete all the threat files. Finally, you need to secure your freshly-cleaned computer. I personally recommend using the paid version of Malwarebytes but there are other computer security providers like Trend Micro or similar that are just as great. Make sure you choose a reputable security solution to protect your computer.