How To Get Into Cryptocurrency For Dummies (Bitcoin BTC)

Bitcoin Exchange

How To Get Into Cryptocurrency For Dummies (Bitcoin BTC)

Bitcoin Exchange

Choosing the best US based crypto exchange isn’t easy, given how many options are out there and all of the different features each of them offers. As a long-time crypto investor myself, I constantly keep up with the latest and greatest exchanges, and make my recommendations below based on years of deep research and personal experience.

Coinbase is the favorite among knowledgeable US crypto investors for its reputation, high level security and for its ease of use. Its the most reputable exchange in the US, so if you’re looking for a secure, cost-effective way to buy and sell crypto, I can’t recommend Coinbase highly enough. Want to learn more? Check out our in-depth crypto guide!


Cryptocurrency is a type of digital currency that uses encryption techniques to regulate the generation of units of currency and verify the transfer of funds. It is a decentralized system, meaning that it operates independently of a central bank or government. Cryptocurrencies have become increasingly popular in recent years, with Bitcoin, Ethereum, and Dogecoin being some of the most well-known examples.

In this article, we will cover everything you need to know about cryptocurrency, from its origins to the best US exchanges, how to purchase it from Coinbase, and what some of the most promising cryptocurrencies are.

What is Cryptocurrency?

Cryptocurrencies are digital assets created using computer networking software that enables secure trading and ownership. Bitcoin and most other cryptocurrencies are supported by a technology known as blockchain, which maintains a tamper-resistant record of transactions and keeps track of who owns what. Public blockchains are usually decentralized, which means they operate without a central authority such as a bank or government.

The term cryptocurrencies comes from the cryptographic processes that developers have put in place to guard against fraud. These innovations addressed a problem faced by previous efforts to create purely digital currencies: how to prevent people from making copies of their holdings and attempting to spend them twice.

Individual units of cryptocurrencies can be referred to as coins or tokens, depending on how they are used. Some are intended to be units of exchange for goods and services, others are stores of value, and some are mostly designed to help run computer networks that carry out more complex financial transactions.

One common way cryptocurrencies are created is through a process known as mining, which is used by Bitcoin. Mining can be an energy-intensive process in which computers solve complex puzzles in order to verify the authenticity of transactions on the network. As a reward, the owners of those computers can receive newly created cryptocurrency. Other cryptocurrencies use different methods to create and distribute tokens, and many have a significantly lighter environmental impact.

For most people, the easiest way to get cryptocurrency is to buy it, either from an exchange or another user.

Origins of Cryptocurrency

The first cryptocurrency was Bitcoin, which was created in 2009 by an unknown individual or group using the pseudonym Satoshi Nakamoto. The true identity of Nakamoto remains unknown, but his or her creation has had a profound impact on the financial world.

Bitcoin was created as an alternative to traditional currencies, which are controlled by central banks and governments. Bitcoin is a decentralized system, meaning that it is not subject to the control of any one entity. Transactions are verified by a network of users and recorded on a public ledger called the blockchain.

Bitcoin’s success has led to the creation of numerous other cryptocurrencies, including Ethereum, Litecoin, and Ripple. Each of these cryptocurrencies has its own unique features and advantages.

Why Cryptocurrency is Promising

Cryptocurrency has many promising features that make it an attractive investment option. One of the main advantages of cryptocurrency is that it is decentralized, meaning that it is not subject to the control of any one entity. This makes it more secure than traditional currencies, which can be subject to government or central bank interference.

Another advantage of cryptocurrency is that it is often faster and more efficient than traditional financial systems. Transactions can be completed in a matter of seconds or minutes, compared to days or weeks for traditional transactions.

Cryptocurrency also has the potential to be used in a wide range of applications beyond just financial transactions. For example, blockchain technology, which underpins many cryptocurrencies, can be used to create secure, tamper-proof records for a variety of purposes.

Best US Exchanges for Cryptocurrency

If you’re interested in purchasing cryptocurrency, there are many exchanges available to choose from. Here are some of the best US exchanges:

  1. Coinbase(Tech Sensei Recommended) Coinbase is one of the most well-known and popular cryptocurrency exchanges. It allows users to buy and sell Bitcoin, Ethereum, Litecoin, and other cryptocurrencies using a variety of payment methods.
  2. Kraken – Kraken is a popular cryptocurrency exchange that offers a wide range of trading pairs, including Bitcoin, Ethereum, Litecoin, and Ripple. It is known for its security and reliability.
  3. Binance.US – Binance.US is the US-based arm of the popular cryptocurrency exchange Binance. It offers a wide range of cryptocurrencies and has low trading fees.
  4. Gemini – Gemini is a regulated cryptocurrency exchange that is known for its security and reliability. It offers a variety of cryptocurrencies, including Bitcoin, Ethereum, and Litecoin.

How to Purchase Cryptocurrency From Coinbase

Coinbase is one of the most popular and user-friendly cryptocurrency exchanges in the United States. It is a great place to buy, sell, and store Bitcoin and other cryptocurrencies.

To get started with Coinbase, you need to create an account on their website or mobile app. Once you have created your account, you will need to provide some personal information and verify your identity. This is a standard process for all cryptocurrency exchanges and is required by law to prevent money laundering and other illegal activities.

Once your account is verified, you can link your bank account or credit/debit card to your Coinbase account. Coinbase supports a variety of payment methods, including ACH bank transfers, wire transfers, and debit/credit cards.

After your payment method is linked, you can start buying and selling cryptocurrency on the Coinbase platform. The process is simple: select the cryptocurrency you want to buy/sell, enter the amount you want to purchase/sell, and confirm the transaction. Coinbase will automatically calculate the exchange rate and any fees associated with the transaction.

It is important to note that Coinbase charges a fee for each transaction, which varies depending on the payment method used and the size of the transaction. For example, if you use a bank transfer to buy Bitcoin on Coinbase, the fee is 1.49% of the transaction amount. However, if you use a credit/debit card to buy Bitcoin, the fee is 3.99% of the transaction amount.

Most Promising Cryptocurrencies

Cryptocurrencies have taken the world by storm, with Bitcoin leading the way as the most well-known and valuable cryptocurrency to date. However, there are many other promising cryptocurrencies that are worth considering for investment. In this section, we will take a closer look at five of the most promising cryptocurrencies and what makes them stand out in the market.

One of the key features of Ethereum is its ability to create and execute smart contracts, which are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code. This enables a wide range of applications to be built on the Ethereum network, including financial applications, supply chain management, and even online voting systems.

Ethereum (ETH): 

Ethereum is the second-largest cryptocurrency by market capitalization, after Bitcoin. It is a decentralized platform for building decentralized applications (dApps) and smart contracts. Ethereum’s blockchain technology allows developers to create their own cryptocurrencies and dApps on top of the Ethereum network. This has led to a significant increase in the adoption of Ethereum as a platform for building decentralized applications, with many businesses and developers seeing it as a long-term investment opportunity. 

Litecoin (LTC): 

Litecoin is a peer-to-peer cryptocurrency that is similar to Bitcoin. It was created in 2011 by Charlie Lee, a former Google engineer. Litecoin is faster and cheaper to use than Bitcoin, making it a popular choice for everyday transactions. 

Binance Coin (BNB):

Binance Coin is the native cryptocurrency of the Binance exchange, which is one of the largest and most popular cryptocurrency exchanges in the world. Binance Coin is used to pay for transaction fees on the Binance exchange, as well as for trading other cryptocurrencies on the platform.

One of the key features of Binance Coin is its use in the Binance Launchpad, which is a platform for launching new blockchain projects. Investors can use Binance Coin to participate in the launch of new blockchain projects, giving them early access to potentially valuable cryptocurrencies.

Chainlink (LINK):

Chainlink is a decentralized oracle network that is designed to connect smart contracts on the blockchain with real-world data sources. This enables smart contracts to access data from sources outside the blockchain, such as financial markets, weather data, and even sports scores.

One of the key features of Chainlink is its ability to provide secure and reliable data feeds to smart contracts on the blockchain. This has led to a growing interest in Chainlink as a potential solution for a wide range of applications, including decentralized finance (DeFi), supply chain management, and even gaming.

Polkadot (DOT):

Polkadot is a next-generation blockchain platform that is designed to facilitate interoperability between different blockchain networks. It was created by Gavin Wood, one of the co-founders of Ethereum. Polkadot’s blockchain technology enables different blockchain networks to communicate with each other, allowing for greater interoperability and scalability.

Cardano (ADA):

Cardano is a decentralized platform for building decentralized applications (dApps) and smart contracts. It was created by Charles Hoskinson, one of the co-founders of Ethereum. Cardano’s blockchain technology is designed to be more scalable and secure than other blockchain platforms, making it a promising choice for businesses and developers.

One of the key features of Cardano is its unique approach to consensus, which uses a proof-of-stake (PoS) algorithm called Ouroboros. This algorithm is designed to be more energy-efficient than the proof-of-work (PoW) algorithm used by Bitcoin, while also providing greater security and scalability. This has led to a growing interest in Cardano as a potential long-term investment opportunity.

One of the key features of Polkadot is its ability to support multiple parallel blockchains, or “parachains”, which can be customized for specific use cases. This enables developers to build decentralized applications that are more efficient and scalable than those built on other blockchain platforms.


In conclusion, the world of cryptocurrencies is constantly evolving, and there are always new and exciting opportunities for investors to explore. As the market becomes more mainstream, it is crucial to do your own research and stay up-to-date with the latest developments in order to make informed investment decisions.

It is important to note that investing in cryptocurrencies can be risky, as the market is highly volatile and prices can fluctuate rapidly. Therefore, it is recommended that investors only invest what they can afford to lose and to diversify their portfolio.

Despite the risks, cryptocurrencies have the potential to transform the way we store and transfer value, and they are already being adopted by a growing number of businesses and individuals around the world. As governments and financial institutions begin to recognize the potential of cryptocurrencies, it is likely that we will see increased regulation and wider acceptance of these digital assets.

In the end, the decision to invest in cryptocurrencies is a personal one that requires careful consideration of the risks and potential rewards. However, for those who are willing to take the plunge, the world of cryptocurrencies offers an exciting and potentially lucrative opportunity to participate in the next generation of financial innovation.

Ready to take the plunge? Sign up using our affiliate link and get a free $10 credit!



Leave a Reply

Coinbase is a popular and reputable platform for buying, selling, and storing cryptocurrencies, such as Bitcoin, Ethereum, and Litecoin. With over 56 million users worldwide, Coinbase offers a user-friendly interface, high security standards, and a wide range of features, including automatic recurring purchases, instant trading, and staking rewards. Coinbase also provides educational resources, customer support, and insurance coverage for its users’ funds. Whether you are a beginner or an experienced cryptocurrency investor, Coinbase can help you manage your digital assets with ease and confidence. Read our full review and guide.

Best Crypto Exchanges

  • Coinbase
  • Binance
  • List Item #2
  • List Item #3

Best Crypto Exchanges

Most Popular

Social Media

As an Amazon Associate I earn from qualifying purchases. We also sometimes use other affiliate programs to earn from qualifying purchases.

Get The Latest Updates

Subscribe To Our Weekly Newsletter

No spam, notifications only about new products, updates.


Christian Lux

Christian Lux

As the founder of Tech Sensei, Christian Lux brings over 20 years of experience in the technology industry. He has worked for some of the biggest names in tech, including EVGA & Blizzard and has a deep understanding of the latest trends and innovations in the field.

What sets Christian apart is his commitment to integrity and transparency. He believes in providing honest and unbiased reviews of products, and never compromises his values for the sake of profit or influence. His readers know that they can trust his recommendations and advice, as he always puts their needs and interests first.

If you're looking for a reliable source of tech news, reviews, and tips, you've come to the right place. Christian and his team are dedicated to bringing you the best and most up-to-date information to help you make informed decisions and stay ahead of the curve.

On Key

Related Posts

Smart Mailbox

Best Virtual Mailboxes

A virtual mailbox service is a must if you’re an online business or if you’re a digital nomad traveling abroad and want to receive mail