So if you follow me on IG (IG: ZanetheAnalyst) , you saw my story on how to safely invest in bitcoin. So I wanted to drop a post with a quick recap for your convivence.
Step 1 - The best place to Buy bitcoin( or cryptocurrencies)
My number 1 broker is Gemini.
They have an app on the google play story and apple market for your convivence. When buying bitcoin, your main concern should be security. Gemini has partnered with many security firms to maintain a high level of safety and they also allow you to take your bitcoin off-line for an extra layer of security. The fees are not too crazy and they are very transparent.
My number 2 broker is Coinbase.
Coinbase also prioritizes security and they are working with the SEC and other regulators to create a safe place to invest in these digital currencies. You can also find this on the any app store.
Step 2 - Download 2 factor authorization
Apps like Authy (also on the apple and google play store) add an extra layer of security so hackers cannot steal your bitcoin. It has a timer and randomizer that shuffles through codes every 30 seconds to grant access to your account.
Hot wallet vs Cold wallet
These are two important terms to note. A Hot wallet is when you keep your bitcoin on an exchange like Gemini or Coinbase(which always holds risk). This allows you to Buy and Sell bitcoin quicker if you plan to quickly trade the currency. A Cold wallet is an off-line storage for your bitcoin. this will include owning a nano-ledger($59 on amazon). It is basically a flash drive for your bitcoin. This allows your bitcoin to be 100% safe. I recommend doing this if you have more than $1000 in bitcoin.
Last but not least... BlockFi
I want to mention blockfi because its an easy way to earn interest on your bitcoin similar to a savings account. I think everyone with bitcoin should take advantage of this. Make some money while your assets sit.