Three steps to invest in Bitcoin now

Disclaimer: I know approximately jack squat about speculative investing, and only slightly more about how Bitcoin works. Be prepared to lose.

If you decide to buy one (or some) Bitcoin as an investment, here’s my (USA-specific) advice:

  1. Buy Bitcoin via Coinbase. It’s easy and works with a standard USA checking account. Write down your purchase details for tax purposes.
  2. Don’t leave your Bitcoin at Coinbase. Create a paper wallet and send your Bitcoin to that.
  3. Lock the paper wallet away in a safety deposit box and forget about it.

I’m not sure how to properly pluralize “Bitcoin” so I didn’t bother ever adding an “s” in this post.

Last of all, consider actually using Bitcoin, instead of just investing! It’s complicated. It’s scary. You will be challenged. You’ll learn about some interesting subjects, and you’ll be on the forefront of what is surely a revolution in currencies.