Crypto Account Recommendations

Crypto Account Recommendations

 04.08.2021 -  Bruce Kroeze -  ~3 Minutes

Talking with a friend the other day, I realized that I had listed far too many sites for him to investigate. Not only that, he was going to lose context and probably get confused afterwards.

So, here is a quick list of the sites I recommend you get set up as soon as you can in your crypto investment journey.

Accounts to get

  • Cointracking   - This is a Portfolio tracker. You want this because it is extremely difficult to keep on top of your crypto holdings down to the 8th digit of precision for all the pesky fees and everything. Cointracking does all that automatically for you (with a paid account), and gives you all sorts of lovely reports. The most useful report is your yearly tax report, which is suitable for direct import into many tax programs. Do yourself a favor and start right away, doing data reconciliation for a year without it is asking for pain.
  • Swan Bitcoin   - The easiest, lowest fee way I know to buy Bitcoin on a regular schedule. Ex: “Buy $50 of Bitcoin every week”. You can set up auto-withdrawal to other wallets, such as BlockFi or your hardware wallet. Sets up quickly.
  • Binance.US   - One of the biggest exchanges, with some of the largest offerings of alt-coins in a US registered exchange. This is one where you could use your bank account to deposit, and which requires “KYC” (thorough ID uploading and verification). Takes a few weeks to get set up all the way with KYC.
  • Kucoin   - A non-US exchange, where they don’t require KYC and they have a lot more coins. Their app is superior to Binance’s in my opinion. You can stake many coins here for 5-100% interest, depending on the coin. Sets up very fast.
  • BlockFi   - The simplest and probably safest place to earn some interest on Bitcoin.

Wallets to use

  • Metamask   - Plugin for your browser, it is the most standard way to interact with most “dApps”, which are crypto-powered sites. You will hook up your hardware wallet to Metamask, once you have it.
  • Ledger Nano X   - Purchase it only from the manufacturer. A hardware wallet is the most secure defense against hacking of your crypto. You will save yourself time and exposure risk to start with the best multi-currency hardware wallet out there right from the beginning.

This article is for education only, not financial advice. Please always do your own research. Cryptocurrency is extremely volatile, so any investment could incur losses not anticipated. Please, with this and any other investment, do not invest more than you can afford to lose, and never go “all in” on anything.

Some links in my articles may be referral links, which makes a couple sats for me and costs you nothing. If you don’t like that, please copy the link any remove the obvious referral code before using it. I’ll never know and I won’t be mad. For this one though, if you do, it will actually cost you more, not less, since my code gives you a 20% discount in fees for several of them.

(Photo of Stuttgart library by Sara Kurfeß   , wow is that a great shot, eh?)