At CryptoCrunch we know its hard taking the leap and getting started with Bitcoin. Therefore, we have created this beginners guide with everything you need to know.

Where can I Buying Bitcoin?

In order to be able to buy, sell and trade Bitcoin, you will need to open an account with one of the following websites. The sign up process will involve getting verified. To do this, you have to send pictures of your drivers license or passport. Verification approval can take up to 2 days.

Once you have been verified you will be able to buy, sell and trade Bitcoin and various other cryptocurrencies. Buying and selling can be done at a few different places. We have listed our favorite places to buy bitcoin.

Website
Best Place to Buy Bitcoin
Easiest Place to Buy BitcoinCoinspot is an Australian Exchange with a huge range cryptocurrencies including Bitcoin and over 100 others. Coinspot is the easiest way to buy bitcoins in Australia. It allows users to deposit and withdrawn AUD from an Australian bank account and it very user friendly.

Easiest Place to Buy BitcoinCoinbase offers Bitcoin, Bitcoin Cash, Litecoin and Ethereum. Selling is not yet supported in Australia but you can buy Bitcoin with a credit card. Coinbase is really user friendly and you get $12 FREE BITCOIN when you sign up. Your weekly limit will increase as you hit your buy limits.

Buy Bitcoin on BinanceBinance is the worlds biggest exchange and is easy to use. Low fees and lots of alt coins on offer. Easy registration process and almost instant verification. Binance has a really nice App for mobiles and is by far our favorite exchange.

Getting Started with BitcoinBTC Markets is an Australian Exchange with a limited number of coins for sale. The fees are low and its an easy to use exchange. Deposits and Withdrawals are available to most Australian banks. BTC Markets is also a certified exchange in Australia.

Easiest way to buy bitcoin australiaKuCoin has one of the biggest range of cryptocurrencies. It has a reputation as being an early adopter of new coins. It’s not unusual to find cheap coins here before they hit major exchanges and explode. Great place to find good projects and hold for good returns.

Track your Portfolio

Once you have bought your coins you can track their prices on an app called Blockfolio. It’s a very good app to check your profits or losses. It can be downloaded from the App Store.

 
Must Have Apps
cryptocurrency portfolioBlockfolio is the must have mobile app to track your cryptocurrencies portfolio. Blockfolio is a feature rich application and can track your profits in all currencies including bitcoin and Etheream. Available on both both iOS and Android.


Track your cryptocurrency portfolioDelta is a relatively new cryptocurrency tracking app but its slowly overtaking Blockfolio to become number one. Delta has an improved and sleek design and is easy to use. They also have a desktop version coming soon. For new users this is our choice.

Cryptocurrency Wallets

If you are getting started in Bitcoin then having a place to store your cryptocurrency is a must. A cryptocurrency wallet is a software program that stores private and public keys.

How do they work?

Public and Private keys are terms you will hear a lot and they are very important to understand. The public key is the location of your money on the blockchain. This is also your address that you would tell people to send your money to if they are sending you funds.

Private keys are essentially your key to unlock your money. ENSURE YOU HAVE YOUR PRIVATE KEYS BACKED UP, either through writing it down or copy and pasting to a USB as a text file.

DON’T EVER give anyone your private key. This would be the equivalent of giving someone your online banking password. They will have access to your crypto.

Once you have bought the cryptocurrency of your choice it will be sitting on an online wallet. For example, if you bought some Bitcoin on Coinbase, it will be sitting in a Coinbase wallet online.

This can be risky because online exchanges are vulnerable to hackers. There are many stories of people losing their coins because an exchange was hacked. Just google Mt Gox Hack as an example.

You can visit the website of the crypto that you hold. For example, if you hold NEO, you can download a wallet from the official NEO site and store your crypto in it. This type of wallet is considered safer as it runs stand alone on your desktop.

Not all crypto’s have their own individual wallet so you will have to look for multi crypto supported wallets. 

We have written a quick guide to types of Cryptocurrency Wallets Here

Hardware Wallets

The biggest tip we can give anyone getting started in Bitcoin is to buy a hardware wallet. If you plan to invest any significant amount of money then we cant stress this enough. A hardware wallet is basically the equivalent to storing your money in a bank compared to under your bed.

A Hardware wallet is basically USB sticks, which has preloaded with wallets which are encrypted to store all of your crypto offline. It acts in a similar way to a desktop wallet but as soon as you remove the hardware wallet from your computer, it become disconnected from world and secure. Many people store their cryptocurrency on the hardware wallets then lock them in security boxes.

When is comes to hardware wallets then the two biggest names are Ledger and Trezor. These are the most trusted and secure wallets on the market and we have listed them below. Our personal favorite is the Ledger Wallet.

Top Wallets Supported Coins
Best Cryptocurrency WalletThe Ledger Nano S was launched in 2016 and boasts a number of safety features. One of the biggest selling points is the price tag which makes it the cheapest hardware wallet with a screen.



BTC, BCH, BTG, ETH, ETC, LTC, DOGE, ZEC, XRP, DASH, STRAT, KMD, ARK, EXP, UBQ, VTC, VIA, NEO, XST, XLM, HSR, DGB, QTUM, PIVX, POSW
Ledger Blue Bitcoin WalletThe Ledger Blue is the latest model of Ledger Wallet and boasts and impressive touch screen. The benefit of the larger Ledger Blue is the increased storage space and ability to store more wallets.



BTC, BCH, BTG, ETH, ETC, LTC, DOGE, ZEC, XRP, DASH, STRAT, KMD, ARK, EXP, UBQ, VTC, VIA, NEO, XST, XLM, HSR, DGB, QTUM, PIVX, POSW
Trezor Bitcoin WalletTrezor One - Much like the Ledger Nano, the Trezor Wallet is a USB like cold wallet and was launched in 2014. The security features are equal to that of Ledger but they do not offer as many supported wallets.



BTC, BCH, BTG, LTC, DASH, DOGE, ETC, ETH, ERC20, NEM, NMC, ZEC, EXP, UBQ
Trezor T Bitcoin WalletTrezor T is the latest model of Trezor Wallet and has the added feature of a touch screen. The touch screen is much smaller then the Ledger Blue and once again has a limited number of supported wallers.



BTC, BCH, BTG, LTC, DASH, DOGE, ETC, ETH, ERC20, NEM, NMC, ZEC, EXP, UBQ