Hello and welcome my name is Steve and this is the second video in a series that I’m going to be doing on cryptocurrency. Video number1 was all about the basics, what is Bitcoin? Can you do with it? etc., etc., etc. Please check the link in the description if you missed that video. If you’re diving straight into this video this is going to be more of a how do you acquire Bitcoin, how do you get you some Bitcoin and the good news is that it’s easy. And I want to discuss 2 different ways to get Bitcoin.
Methodology number 1 is if you want to just grab some Bitcoin to use as a currency or if you want to grab some Bitcoin to use as an investment you can just basically use a credit card, it’s that easy now and I don’t think it was that easy a year ago.
All right so let’s get started with the easiest way that you can get you some Bitcoin and that is coinbase.com. Coinbase accepts credit cards and therefore makes it extremely simple to get you some Bitcoin. Ok, so it’s hard for me to replicate exactly what you’re going to see because I already have an account with Coinbase but I’m assuming it’s going to walk you through the process asking for some basic information and everything like that. This is the dashboard right here and what you’re going to want to do is you’re going to want to go to “settings” and then you’re going to want to go to “linked accounts.” And as you can see you can link a credit card here, so it’s pretty much as simple as just that.
If you’ve been putting off getting into because you thought it would be difficult Coinbase has really really really made it easy. And then of course if you want to buy you just go to the “buy/sell” button, which asset you want to buy? They currently have 4 assets, they’ve got Bitcoin, Bitcoin cash, Ethereum and Litecoin and you can see what each of these is trading for and then essentially just come down here and you enter amount and as you can see here I can buy Litecoin instantly. But if I wanted to buy a $100 worth of Bitcoin you can see that you can buy fractions of Bitcoin. I’m going to get basically that is ten hundred thousand sixth five seven one thousandth of a Bitcoin. And as you can see here it tells me what I’m buying, it tells me what the fee is there is $100 and it’s super simple.
So, once you make the buy it’s going to put it in something called a wallet. You can go to “accounts” and here’s my Bitcoin wallet right here. So, if I want to send money all I’ll do is click “send” and it will ask me for a Bitcoin address and then it will withdraw from my Bitcoin, I’ll tell it how much I can write a message and then hit “continue” that’s the way I can pay for goods and services and if I want somebody to send me some money I just click on “receive” it tells you to make sure don’t send ETH. to this address just send Bitcoin and I go like that and here is my unique identifier for my Bitcoin account. Now remember each wallet is going to have a different unique identifier, so you gotta keep that in mind. So, there it is, it’s easy as pie, now I want to discuss how to get Bitcoin anonymously.
Ok, so with that out of the way I want to share with you how to get Bitcoin completely anonymously or without the use of a credit card. And just in case you’re wondering there are many legitimate reasons to want to use Bitcoin, it’s not all about the dark web. Say for example you wanted to use a VPN. Well here’s a VPN and look at all the different coin payments they take. So, it’s like Bitcoin, Ethereum, Litecoin and a whole bunch of other ones. So, the way you get Bitcoin is you go to a Bitcoin exchange, this is just an example of one here, this one’s called Paxful and essentially what you’re going to want to do is you’re going to want to go over to your local drugstore or Walmart or whatever and get a gift card. And I’m telling you they take more 300 ways to pay for Bitcoin and there’s I mean just about every imaginable gift card you can think of. I even found a movie card that they take. But essentially you just kind of check what you want, let’s say we’ve got an Amazon gift card that we won for Christmas so it’s worth $100 that’s going to tell us how much Bitcoin we’re going to get and we’re going to click “buy a bit coin now.”
Now it’s going to take us to the exchange and take a look at what we’ve got here. These are the guys that have the Bitcoins, this is the number of transactions that they’ve had and these are their requirements; ok? Now I want you to pay close attention to this number right here 0.71. This means you going to get 71 cents on the dollar when you exchange. So, for your $100 gift card you’re going to get $71 here; ok? So, a big steep fee for the Bitcoin exchange. I will also tell you that with my one experience that I’ve had actually with the exchange, some of these guys are not as cordial as you think they could be. If you don’t have your act together they get very frustrated with you very very fast and I should say the one that I dealt with. But essentially you got to read the directions, minimum $100,it’s telling you what the deal is here and look at this I mean all caps, bold and these guys are so used to nubes, yeah if you take a second and put yourself in their shoes and here’s a guy he’s done I don’t probably something like 1400 transactions and he’s probably just tired of nubes asking stupid questions. But my recommendation is if you want to do transaction with one of these guys and not piss them off, read their terms very very very closely. You know it says “write my user name in the receipt” all sorts of very very specific requirements here and you have to take a picture of it, you have to send it to him and essentially what you do is you put in one hundred here and then you hit “buy now” I’m not going to hit “buy now” because I’m logged in but that’s essentially the way it is and you click “buy now” and then you have to sit and wait for them and hopefully they’re not too rude but just understand this is the wild wild west. So, that is essentially how you can take cash, go to the drug store, get a gift certificate and exchange your gifts certificates of course for a fee to get you some wild Bitcoin.
So, essentially what’s going to happen here is you’re going to have a Paxful wallet. So, here’s my Paxful wallet and what I can do is I can click on “send to Bitcoin” and essentially, I can send Bitcoin to my Coinbase account. So, if I go into Coinbase, I go to my account I can receive money right here by clicking “receive” and I’ll hit “show address” and here’s my address and essentially what I’ll do is I’ll cut, copy and paste this here, I’ll go back over to Paxful. So, essentially just kind of go ahead and say “send Bitcoin,” fill in the information here’s the address of my Coinbase wallet and that’s essentially how I can start a Coinbase wallet with no money at all.
Now one more thing to keep in mind is being anonymous there’s a lot of hoops to jump through in terms of being anonymous. Whatever your reasoning behind wanting to be anonymous if you’re going to get a Paxful account they’re going to require you to tie it into a phone number so really the bottom line is you’re probably going to want to pay cash for a burner phone too. So, there’s some hoops that you have to jump through to be completely honest you know depending on what your motives are. I’m not condoning any kind of bad behavior here I’m just saying that there are many different ways to get Bitcoin.
Well I’m Steve and I’m going to go ahead and wrap things up with Bitcoin for now. We’re going to stick with Coinbase, we’re going to look at some of the other cryptos that are available coin base particularly, Ethereum and we’re also going to take a look at Litecoin and a super quick overview of Bitcoin cash.
So, please check me out in the next video, we’ll be talking more about Coinbase stuff and then video 4 in that series will be about Ripple and then who knows where we’ll go from there. I actually do but stick around. Subscribe, hope to see in the next video, later.