How To Buy, Sell, And Keep Track Of Bitcoin!

We’re deep in the throes of Bitcoin madness. The original blockchain-based cryptocurrency’s more-than-tenfold price increase over the past year has thrust it into Wall Street’s face. Notable investors have been cashing in, as the finance sector wades into Bitcoin futures trading. At the same time, consumers and everyday investors are trying to figure out what Bitcoin actually is and how they can get in on the frenzied action.

- Rob Marvin

Bitcoin isn’t the only digital currency garnering mainstream attention. As it has risen from hundreds to thousands to tens of thousands of dollars per digital coin, the rest of the landscape is riding its coattails. The Ethereum blockchain— long viewed as a more viable mainstream platform—and its Ether cryptocurrency have also risen in value, along with Litecoin, Ripple, and the forked Bitcoin Cash, which Coinbase now supports.

You’ll need to use an exchange to buy and sell the cryptocurrency and a wallet app to store it securely. Here’s how you get started.

1. First, choose an exchange. Coinbase supports Bitcoin, Bitcoin Cash, Ethereum, and Litecoin for the moment, so if you want to stick with those three cryptocurrencies, you can simply download the Coinbase app. There are plenty of other exchanges, though. Bitfinex and Kraken are popular options that support dozens of other cryptocurrencies, including Dash, Iota, Zcash, and more. Other options include Gemini, Bitstamp, and Bitwage, to name just a few.

2. You’ll also need a wallet app for each type of cryptocurrency you purchase. Coinbase makes it easy: The app stores your coins in its private servers in individual wallets for each currency. We’ll walk you through the Coinbase experience, which all happens in the mobile app and can have you buying and selling coins in a matter of minutes. But bear in mind that there are countless options for Bitcoin wallets using desktop and mobile apps, Ethereum wallets, and so on.