The easiest way to explain this in a nutshell isn’t easy. First we need to buy or mine some bitcoin. Mining Bitcoin isn’t a simple project so I’ll explain how to purchase them from the exchange.

FYI, I’m not responsible for financial loss or here to provide any financial advice. This tutorial is only an example of a trading concept. Bitcoin is a volatile asset and is referred to as property by the United States Government.

  1. The biggest exchange from day one would be Coinbase.
  2. Sign up for an account.
  3. Add your bank account and/or credit card and buy some Bitcoin!

So now you have some Bitcoins! Whenever you make a crypto purchase it’s a good rule of thumb to hodl for a short period. You never want to trade it immediately. Give it at least 10-15 minutes minimum.

If you do sell it for altcoins like Ethereum for example, make sure you buy it back for Bitcoin. You never want to make a trade without Bitcoin. So If I bought some Ethereum with Bitcoin, I would hodl for a short period and then sell it for Bitcoin. Don’t trade back and forth and remember to ALWAYS trade for Bitcoin.

The best feature on Coinbase is the convert option. It’s in the trade section and you can convert Bitcoin practically with zero fees.