Estimated reading time: 5 minutes, 28 seconds
My name is Becca, and this is how I came to be a part of the cryptocurrency wave! This is a personal cryptocurrency story, and is by no means meant to be financial advice.
Jordan and I became friends back in February 2017. We’d hung out a few times, each time discussing some new and interesting. He mentioned blockchain during our hangouts, but I didn’t know much about it until the end of March 2017. He requested my Skype name through a mutual friend and we set up a time to chat.
Jordan was interested in bringing me on the team for a number of reasons. First, we had great rapport and had a vast knowledge of random things, allowing for fantastic intellectual debate. Second, I am female and the Blockchain.WTF team was a total sausage fest at that point. Third, I’m a copywriter with a background specifically in digital marketing. In Jordan’s eyes, I was the missing piece to help get things off his plate
We met up a few times and went over the details of the project. I was originally hired to do social media, but my writing skills were quickly recognized. Ultimately, this lead me to a more content creator/editor position on the website, in addition to my social media tasks. Taylor, the man behind the Blockchain.WTF idea, was in town and we met face-to-face, having already communicated via Skype a few times.
From there, myself and the rest of the team crafted the vision of the site. We discussed everything from our audience, to the type of material we’d put out, and even what industries we’d like to cover. On the night of the website launch, however, I was officially turned into a crypto hodler.
Because of my writing skills, Jordan asked if I’d complete the articles he had been assigned. His skill set was best used in other areas, given the time crunch. So, we struck a deal: I’d write the rest of his articles for 1 ETH. At the time, the coin was almost $80 on the dot. He instructed me to download Jaxx Wallet. I began the set up, and he walked me through the steps for ensuring I could access my wallet in the future. (For those of you who aren’t aware, each wallet has a set of words that are your private key—they’re the only way to get back on if you lose your phone, tablet, or computer!)
He explained the entire process, and informed me he when he sent it. The entire transfer took under 3.5 minutes. I knew it was fast, but I didn’t realize it was that fast. I was super nervous about the process because I’d never done it before. Jordan assured me that pretty much everyone experiences the same thing their first time. Minutes later, I had my first cryptocurrency.
Litecoin & Beyond
I was hooked. It felt like I was checking my wallet every 15 minutes. I knew I wanted to get into other coins, but I wasn’t sure where to start. Luckily, that came during my next pay period. I had the choice of fiat money or crypto. My choice ended up being a mixture of both. With that, I received a bit more ETH and my first Litecoin transfer.
Litecoin seemed to be on a downward trend, and I eventually chose to switch it over to Ethereum via Shapeshift. It’s a technology available on Jaxx Wallet, essentially allowing you to change coins in your wallet to other coins in a super straightforward manner. Again, I was nervous about it, but had no reason to be once the transaction was completed.
Purchasing on an Exchange
I’d been given crypto. I had shifted crypto from one coin to another. Now was the time to actually buy from an exchange. After some research, I concluded that Coinbase was the best place for me to start. They have a ridiculously straightforward platform….and they accept fiat money. Even more, they accept credit cards. Because I’m always skeptical of online services, having the ability to have credit card protection was extremely important.
I chose to invest $120—something I was more than willing to part with if things tanked. Sure, I’d be sad if I lost every penny, but by no means would it be the end of the world. At this point, I knew I was most interested in purchasing bitcoin. Since it’s the OG cryptocurrency, I knew it would be the most widely accepted, especially by the parties I was after: ICOs (Initial Coin Offering). (Check out our weekly updates in ICO or NO, reviewing ICO projects.)
Setting up an account on Coinbase was ridiculously easy. It took less than 5 minutes all-said-and-done. I did, however, have to wait about an hour-and-a-half to be approved to pay via credit card. Their website said it could take up to 24-hours, but it was definitely a much shorter timeframe than advertised. When I received a confirmation email, I was ready to go.
Coinbase’s interface is extremely user-friendly. I simply clicked the “Buy/Sell” button and was given the option to purchase bitcoin, Ethereum, and Litecoin. Through a drop-down, I selected bitcoin, entered how much I wanted to purchase, and hit the “Buy bitcoin instantly” button. Within minutes everything was complete, and I was the proud owner of bitcoin!
Withdrawing From an Exchange
Once the bitcoin was in my wallet, I was set to go. I immediately began the process of withdrawing it. It was literally as easy as clicking “Withdraw” and entering in my personal cryptocurrency Jaxx Wallet address. The simplest way to ensure you’re typing in the correct wallet address, is to literally copy and paste it. If your wallet is on your phone and you’re purchasing cryptocurrency on your computer, paste it into an email and send it to yourself.
The thing I had to remember is that bitcoin has a much longer processing time—up to 10 minutes. I sat there biting my nails until it entered my account. I breathed a sigh of relief when I saw the notification.
All in all, the whole process was ridiculously straightforward. Of course, my experience is different than how your personal cryptocurrency experience will unfold on the exchange, but it’ll be relatively similar. Don’t be intimidated by the process. Anyone can do it—even you!
If you’re interested in giving purchasing crypto a shot, check out our guide here!