How to Be A Digital Asset Investor

5/17/2024

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**Disclaimer: All information provided is for informational purposes only, and shall not be relied upon as personal financial advice. Any reference to a specific investment strategy is only to assist in learning, and shall NEVER be relied upon when making future investment decisions.

Crypto, or as some call it, “digital assets”, is becoming more popular and widely accepted around the globe. It is becoming a reality that cryptocurrency will be apart of our daily lives in the future. The acceptance of this asset will make it a “must have” in our investment portfolios (in my opinion).

I remember my first time looking into crypto and buying it off the coinbase app on my iphone. The app literally only had Bitcoin and Litecoin to choose from. This was one of my first times going out of my comfort zone to attempt to invest in something I knew nothing about. I even talked myself out of being scared about adding my bank account info to the app in fear of getting scammed! I should also add that this was in 2017 during one of the biggest bull runs of all time.

Long story short I bought at the top and lost it all. Rookie mistake! Oh well, you live and learn.

From that point on I was determined to understand the crypto market better. I learned alot about what platforms to trust and what tools would help me take my crypto off exchanges and into a wallet that I controlled and owned.

So, how the heck do you obtain cryptocurrency? Or as some might say “where do I buy bitcoins?”

Let’s dive into where to buy crypto first…

The 2 Best Trustworthy Exchanges (That I Use) To Buy Crypto

1. Uphold

Pros:

Multiple crypto asset platform
Secure (two step auth, and KYC info required)
No issues with being payed
Low to average fee’s
- Most Stablecoins and major market FX: 0.25%
- BTC, ETH: 1.4% – 1.6%
- Altcoins: 1.9% – 2.95%
- Precious Metals: 1.9% – 2.95%
Supports fiat, cryptocurrencies, and precious metals

Cons:

Website design can be confusing. I sometimes have trouble navigating through it.

2. Coinbase

Pros:

Multi-asset platform
Secure (two step auth, and KYC info required)
No issues with being payed
Supports both fiat and cryptocurrencies

Cons:

Website look and feel is very busy. Not as user friendly as Uphold in my opinion.
Fee’s based on spread + additional transaction fee. (You can subscribe to Coinbase One to get free buying and selling of crypto)

So, once you buy these assets, where do they go? Well, they go into a digital wallet. Either your wallet on the trading platform or an external wallet that you can purchase. The external wallet I use is the Ledger.

1. You simply connect to your computer and download their software.

2. Setup your ledger wallet for whatever crypto you want to send from the trading platform to your Ledger.

3. Send your crypto to your Ledger device and store it away safely. This ensures that you own your crypto and that the trading platform cannot use it or have it stolen if they are hacked. ALWAYS take your crypto off trading platform wallets! (my opinion, of course)

My Top Cold Storage Devices

1. Ledger

This his been my go-to device since day one. Ive never had issues with the device or the software. I have always been able to transfer my crytpo off platform wallets into my ledger safely. My first purchase was in 2019 and I bought the basic ledger nano and it still works fantastic. The company has also grown over time and have created new and better devices as well. I highly recommend them.

2. Trezor

I am not too familiar with this brand to be honest but ot looks to have some great reviews, is trustworthy and safe. The style looks great too with a touch screen and all.

3. Tangem

You could buy this “card type” cold storage wallet. From the reviews I have read, it’s not the best option out there but is still very effective and safe. Its a device that people love or hate and no in-between.

Being a digital asset investor can be complicated and it is a whole new world to understand. Take your time with it and learn as much about it as you can so you can make the best financial decisions possible. Once you get the hang of it it becomes pretty easy.

But remember, buy your crypto (from a trusted exchange) and then get it off the exchange into a hardware wallet like the ones listed above. Again this is not financial advise just my opinion.

Make smart decisions and make some money!

Sean Stewart, BSN, RN

About the Author

Sean is a registered nurse with over two years of experience in critical care and floor nursing. With over 13 years in the healthcare industry, Sean holds dual Bachelor degrees in Nursing and Biology, blending academic knowledge with practical expertise. Passionate about empowering fellow nurses and advocating for financial literacy, Sean dedicates himself to sharing insights and experiences tailored to the nursing community. When not at the bedside or writing, Sean enjoys spending time with his family