Introduction to Bitcoin and Crypto Currency

Bitcoin and other Crpto Currency have become popular in 2017 and its going to become even more popular in 2018 and beyond. Here are couple of good introduction videos on Bitcoin and other crypto currencies which are similar, explaining the concept behind them.

A 5 min Introduction (Non-Technical)

An in-dept Introduction (Technical)

Ways to Purchase Cryptocurrency

Coinbase is the highly recommended and backed by the No: 1 exchange GDAX with crypto currencies such as Bitcoin, Ethereum and Litecoin. Coinbase charges some fees on purchase of their crypto currencies using Bank account, Credit or Debit card. Here is their breakdown of fees in USA.

Payment Method for Purchase Effective Rate of Conversion Fee (after waiver)
U.S. Bank Account 1.49%, with a $0.15 minimum
Coinbase USD Wallet 1.49%
Credit/Debit Card 3.99%

More details on fees are here. Here are some sample fees using Bank and Credit Cards.

Bank deposit for $500 – Bank account purchase takes 4-5 business days to deposit the crypto currency in the crypto wallet, which will be created by default in coinbase.

Credit Card Purchase of $200. Credit Card purchase are instantly deposited to your crypto currency wallet. So, you can sell instantly anytime and need not wait for 4-5 days to become available.

There are other places to purchase Bitcoin but they are either higher cost or not available to all. You can read more details on those at this website. But, we highly recommend Coinbase for purchase in USA

Purchase using Credit Card with Maximum Rewards

Now, how can I earn cashback from coinbase purchase using credit card.  You can use top cashback credit cards like Chase Freedom Unlimited which gives 1.5% cashback or Citi Double Cash for 2% cashback. Credit Card company don’t charge as cash advance for purchase through coinbase. It is considered as regular purchase.