- Access the ‘Buy/Sell Bitcoin’ tab
- Select the payment method using the drop-down menu
- Enter the desired amount
- Click ‘Buy Bitcoin Instantly.’
- View your credited Bitcoins on your dashboard
- Plug in your KeepKey USB cable
- Open your KeepKey Client (on Google Chrome under Apps)
- Find your wallet address on the KeepKey Client UI
- Access Coinbase ‘Send/Request’ tab and input your KeepKey wallet address
- Confirm amount and click ‘Send Funds’
Cryptocurrency as a Percentage of Your Investment PortfolioThis part will be wildly subjective. Crypto has the potential to realize many ‘rags to riches’ stories, but its volatility makes it unpredictable. As a precaution, the money you put in crypto should be money that you are fine with losing. I cannot emphasize the importance of this as we often underestimate how the volatility affects our emotional capacities. The upside is huge, but it comes with lots of risks and, if I may put it, emotional torment. A conservative portfolio I would suggest is as follows: < 30 years old (max) 30% Crypto, 50% Traditional Investments 30 – 40 years old (max) 20% Crypto, 60% Traditional Investments > 40 years old (max) 10% Crypto, 70% Traditional Investments This is not meant to be age discriminatory but considers the fact that one takes up more financial responsibilities (mortgage, family) as he grows older. Within the designated crypto share of your portfolio, you may diversify your coins based on your risk appetite.
Show Me the Money! Cryptocurrency InvestingNow, this is where it gets exciting. How do we pick the winner? How do we avoid picking the loser? Note that crypto is now in a huge bull market and anything could rise over time. Also, do not dismiss the possibility that we may be in a bubble like the-dot-com boom back in 2000. Still, ask yourself these questions before you decide to invest in a coin:
- Are my investments safe with the dev team? The first rule of investing should always be the preservation of capital. Can you trust the dev team with your money? Are you about to leave your money with founders who have been involved in previous scams? If you see these telling signs, back off immediately. The coin’s price might grow for all you care, but it is just not worth it to put your capital at such risk.
- Does my coin of interest have a long-term plan? If you cannot understand their yellow paper, at least read their white paper. What are the team trying to achieve? Do they have the means, or have they already worked towards their goals? What are the timelines and milestones?
- Does my coin of interest seem like a well-marketed plan with no backup? Lots of ICOs these days just have a pretty webpage, and then they’re shipped out to sell. Watch out for these: are they able to deliver?
- How long should I stay in this? Do I have an exit plan? There will be coins where you do not want to hold forever, but wish to flip for some short-term gains. In this case, be sure to set a timeframe, or an exit price, to reduce to effect of emotions on your trades. Stick to your plan and watch your emotions.
- Does it have a real-world use case? Some coins seem to keep increasing in value simply due to supply-demand factors. This trend might not be sustainable. For a coin to have long term supported value, it must have a real-world use case eventually. Look out for coins that look too much like a get-rich-quick scheme.