Other Frequently Asked Questions about bitcoin...
What are a few good exchanges to buy from? Gemini, Binance, Kraken and CBPlug.com is a Black-woman owned exchange. There are over 33,000 exchanges to choose from. Coinbase, while popular, has spotty social justice views. If you’re not surprised by their politics and want to try it anyway, know that they also tend to have spotty service.
Who should I not buy from? Robinhood, PayPal, and Webull. These exchanges do not provide actual bitcoin that you can take self-custody. Not Your Keys, Not Your Coin. Do not buy here until you can own the coins.
How do I find out what other crypto to invest in? Research the company and project on coingecko.com or coinbasemarketcap.com. There are currently over 8,400 different currencies or coins to invest in.
What is mining? Mining is a billion dollar business with large corporate farms set up all over the world with high power computers that are used to solve the mathematical problems that work to secure the blockchain network. If you have lots of money to invest, invest it in bitcoin and research the crypto currency projects and invest in ones that have great potential value to serve the world. Should I do it? I wouldn’t.
What is an ATM, and should I invest? Bitcoin ATMs are just like standard bank ATMs that we use everywhere. The difference is you only deal with bitcoin in the bitcoin ATM. They are located in several cities and places across the world but very susceptible to scam behavior and lost money. I won’t be putting my money into an ATM anytime soon.
What programs should I avoid? Avoid all programs where you give your money to someone to buy for you, or where you sign up other people to make more bitcoin. These are scams where you are the target.
Buy your own bitcoin and put it in your own wallet. If you learned how to use email you can learn how to buy and send crypto. Just go slow and read carefully.
How can I earn more bitcoin or more money on my bitcoin? There are several places to deposit your money and some provide opportunities to earn interest on your holdings. Check the links to start earning bitcoin. Earn $10 on Swanbitcoin; earn $40 in bitcoin on Celsius Wallet plus up to 15% interest. There are a growing number of credit card offers providing bitcoin rewards like the new Fold Wallet or the Gemini Wallet. For those online shoppers out there, get $10 in bitcoin at signup for Lolli.com which provides daily satoshis for your purchases through their site.
Do you have other questions that have not been answered? Drop a line at love@cryptosoulfood.com. Happy to help!
CryptoSoulFood is a new convert, bitcoiner and hodler. In true fashion, I want to show the truth and the light and share it with anyone who feels me on that. I especially want to affect the Black community by helping to find wealth building tips and providing tricks to access those solutions. Whether it’s how to get down-payment help to buy a home or how to pay off debts to make room to build your bitcoin stash, I’m here for it. But make no mistake, I am NOT a financial advisor and in fact; I need one! I write to edutain you on the cool stuff that I know.
This is a guest post by CryptoSoulFood. Opinions expressed are entirely their own and do not reflect those of the Black Bitcoin Billionaire organization.