liunars
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How to get your first CRYPTOCURRENCY as a YOUNGCEL - SIMPLE ENOUGH FOR A 14-YEAR-OLD TO UNDERSTAND IT
Preface
This will not be a thread on how to make money trading or get uber rich. It is purely a thread for those like me who want bitcoin as a minor, whether that be to buy AAS, ADHD meds, etc. Please Rep my thread if it helped you, it takes you a second to do so and this took me multiple hours to write.
Step 1 - Setting things up - one day.
First, get the Bisq applications from Bisq's network. Here is the link. Look for your operating system and download Bisq 1 and Bisq 2. I will explain why both are needed later. Set them both up. Bisq 2 will give you a short guide and tell you to create an avatar, while Bisq 1 will give you a very complicated guide any time you click a tab. It is important that you do not press the "do not show this again" option, like I did, until you have at least a month of experience with the app. They give concise, but incredibly important information. You shouldn't really need to set anything complicated up on Bisq 2, so I won't give exact steps for that.
Some users recommend using LocalCoinSwap, Paybis, but I don't agree. Those will usually have high rates and LocalCoinSwap was IMPOSSIBLY difficult to find a trader who didn't want KYC and had good rates meanwhile Paybis literally triggered my bank's antifraud and thank God my parent's notifications weren't connected to my bank then. They are not good long term options IMO.
I also saw another thread recommending gift cards and bitcoin ATMs. I haven't tried them myself, but when I was researching them, the gift cards that I found had shotgun KYC and so did the ATMs - random checks that could happen AFTER you already made a payment. Additionally, bitcoin ATMs are pretty rare in most places and the closest one I found to me was about five miles away.
It is very important you follow these steps; if you lose your wallet or send someone money without a wallet, you will lose everything and the money you sent.
On Bisq 1, go to the Account tab and then to the Wallet Password subtab. You can either set one or don't; I did, because I have siblings who also share my computer. If you don't share your computer with anybody I recommend you don't, it's a hassle to enter it every time you click a tab but helps with keeping your privacy. You can remove it at any time.
Then, go to the Funds tab and to the Receive Funds subtab. You should see an address or two. You will be using this later to receive the first crypto you buy off of Bisq Easy. If you don't, then generate a new address.
Then, go to the Account tab and the Wallet Seed subtab. Copy the exact wallet seed string onto a piece of paper and a document on your PC AND the date. You will need both.
Then setup the National Currency Accounts subtab. Add your real name.
Under the same tab there is also the backup subtab. I didn't do it, because for whatever reason it said that the folder was locked. However, I was fine. Give it a try and if it doesn't work for you then move on.
With all of this done, you should be good to move on.
Step 2 - Making your first easy trade - two days to two weeks.
You can do one of two things here, or both. You can create an offer on the Offer book subtab of the Bisq Easy tab or look for one to take. Personally, I took an offer where I would get roughly 50$ worth of Bitcoin for a ~10% premium Zelle payment. It took me about three days to find one, and I think that it is much faster and will also get you a better deal than making an offer yourself because most of the people on there are bots who send some shit out every 15 minutes. Pick a reasonable markup percent. If you're making an offer, I literally offered over 20% and it still didn't ever get accepted. But for taking an offer a reasonable percent is 5% great to 15% fine.
Always plug in any numbers you write into a google search and do the math. Don't fuck up, or you will end up adding unnecessary time to these steps or scamming yourself.
BE INCREDIBLY CAREFUL WHEN YOU'RE CHECKING THE PAYMENT OPTIONS.
On one of my offers I cancelled, I was extremely sleep deprived and looked at a good offer, took it, went to sleep, and woke up the next day realizing it was a Cash App Payment. Upon downloading it, I realized it required my ID, and that the trade rules don't let you cancel once you exchange crypto address and the seller's bank info. Yes, this also holds true for Bisq 1 offers, though you get a LOT more time. I ended up lying about it cancelling and got off scot-free
. But don't do what I did, you might end up getting perma'd off of the Bisq network.
From my limited understanding of how crypto works, a seller will send the bitcoin to be held in "escrow" or kept by the Bisq service, when they confirm they got your payment then the escrow service will send it to you.
Now once you have someone accepting your offer, you will send the aforementioned Bisq 1 wallet address. It might take up to a day for them to send their bank info. Be patient. Once they send it, use Zelle or a wire transfer to send the exact amount of money to them. ALWAYS KEEP THE REASON OR MEMO BLANK UNLESS INSTRUCTED TO OR YOU MAY GET THEMSELVES AND YOU INTO LEGAL TROUBLE (sometimes it will tell you to write the trade ID.) Click the "Verify payment" button and you will get your crypto within thirty minutes. Now that you've got about 50-100$ worth of Bitcoin then move to Bisq 1 and here is where you will really start to make trades.
Step 3 - Making your first large trade on Bisq 1 - one day to one month.
The reason you wouldn't just only trade on either is because to make an offer or take an offer on Bisq 1, you need a security deposit and to pay mining fees in bitcoin or BSQ, their own colored currency. On Bisq 2, the seller of bitcoin pays the mining fee and there is no security deposit, so you can get bitcoin without already owning bitcoin. However, with Bisq 1, there are much higher limits and more sellers, and it is just a better exchange overall. Anyways, your wallet should now have the amount of bitcoin that you purchased in step two. To check you can go to the "Funds" tab or the "Account" - "Wallet Info" subtab.
Because your national currency account was created recently the max you can purchase in a single trade is 0.002 bitcoin. That's roughly 150$.
Now make an offer or take an offer (I made an offer here) and if you make an offer and want it to be taken any time soon, then set a negative value for the "Below % from marketplace." I set mine to about ~5%. You can edit it at any time but don't delete it as you'll lose the funds you put into making the offer. You will also have to set a security deposit, set it to the lowest you can. There will be an option to use BSQ for the fee, but I used bitcoin because it's a 5$ difference for having to go through more trades, and the BSQ fee is something like 5 BSQ meanwhile the minimum BSQ offer was like 30 BSQ. So, I didn't use it.
Give yourself a 20$ margin, when I traded the amount to send was randomly increased by 4$ and my balance was just 2$ over originally, so I had to try to convince one of my parents to wire me 5$. I ended up genuinely getting it ten minutes before the trade remaining time was up, most stressful experience all year.
Anyways, once it's taken, it's very much like the Bisq 2 process, it has essentially the same steps. It should be pretty easy for anybody who read through the entire thread to do.
END - Sending your Bitcoin
Go to funds, send funds, and select the wallet you want to use. Fill in the destination address given, include the mining fee, and usually you will always want to keep the memo empty unless whoever you sell to or buy shit from tells you to. Remember that there are no takebacks.
Again, please Rep my thread if it helped you, it takes you a second to do so and this took me multiple hours to write.
Preface
This will not be a thread on how to make money trading or get uber rich. It is purely a thread for those like me who want bitcoin as a minor, whether that be to buy AAS, ADHD meds, etc. Please Rep my thread if it helped you, it takes you a second to do so and this took me multiple hours to write.
Debit card
For those who are in a well-off family, this should be incredibly easy to obtain. Ask your parents if your bank has a program for teens to get an easy checking account opened. Zelle is a great way to do this, and the way I did it, but only SOME banks support it. Use the Zelle website to check if yours works. Zelle - Get Started. You can also do a wire transfer, domestic transfer with it, and should if Zelle isn't an option, but I didn't ever try those because for me Zelle was much more streamlined for my bank and was feeless. You can also do apps like Cash App, Venmo, etc., but I didn't use those either because they require your SSN or even more, so you can't lie about your age.
Potential Alternatives: Cash By Mail, Postal Order
I didn't do this but have seen many offers where these were one of the payment options. IIRC, you have to literally go to the post office, give your ID, etc., and I don't know if minors can do it. For that reason, I don't recommend it, and I find debit cards a much safer and more private option.
Any Personal Computer
You will need this to download the applications I will cover in this guide. Linux or Windows will be fine.
For those who are in a well-off family, this should be incredibly easy to obtain. Ask your parents if your bank has a program for teens to get an easy checking account opened. Zelle is a great way to do this, and the way I did it, but only SOME banks support it. Use the Zelle website to check if yours works. Zelle - Get Started. You can also do a wire transfer, domestic transfer with it, and should if Zelle isn't an option, but I didn't ever try those because for me Zelle was much more streamlined for my bank and was feeless. You can also do apps like Cash App, Venmo, etc., but I didn't use those either because they require your SSN or even more, so you can't lie about your age.
Potential Alternatives: Cash By Mail, Postal Order
I didn't do this but have seen many offers where these were one of the payment options. IIRC, you have to literally go to the post office, give your ID, etc., and I don't know if minors can do it. For that reason, I don't recommend it, and I find debit cards a much safer and more private option.
Any Personal Computer
You will need this to download the applications I will cover in this guide. Linux or Windows will be fine.
Step 1 - Setting things up - one day.
First, get the Bisq applications from Bisq's network. Here is the link. Look for your operating system and download Bisq 1 and Bisq 2. I will explain why both are needed later. Set them both up. Bisq 2 will give you a short guide and tell you to create an avatar, while Bisq 1 will give you a very complicated guide any time you click a tab. It is important that you do not press the "do not show this again" option, like I did, until you have at least a month of experience with the app. They give concise, but incredibly important information. You shouldn't really need to set anything complicated up on Bisq 2, so I won't give exact steps for that.
Some users recommend using LocalCoinSwap, Paybis, but I don't agree. Those will usually have high rates and LocalCoinSwap was IMPOSSIBLY difficult to find a trader who didn't want KYC and had good rates meanwhile Paybis literally triggered my bank's antifraud and thank God my parent's notifications weren't connected to my bank then. They are not good long term options IMO.
I also saw another thread recommending gift cards and bitcoin ATMs. I haven't tried them myself, but when I was researching them, the gift cards that I found had shotgun KYC and so did the ATMs - random checks that could happen AFTER you already made a payment. Additionally, bitcoin ATMs are pretty rare in most places and the closest one I found to me was about five miles away.
It is very important you follow these steps; if you lose your wallet or send someone money without a wallet, you will lose everything and the money you sent.
On Bisq 1, go to the Account tab and then to the Wallet Password subtab. You can either set one or don't; I did, because I have siblings who also share my computer. If you don't share your computer with anybody I recommend you don't, it's a hassle to enter it every time you click a tab but helps with keeping your privacy. You can remove it at any time.
Then, go to the Funds tab and to the Receive Funds subtab. You should see an address or two. You will be using this later to receive the first crypto you buy off of Bisq Easy. If you don't, then generate a new address.
Then, go to the Account tab and the Wallet Seed subtab. Copy the exact wallet seed string onto a piece of paper and a document on your PC AND the date. You will need both.
Then setup the National Currency Accounts subtab. Add your real name.
Under the same tab there is also the backup subtab. I didn't do it, because for whatever reason it said that the folder was locked. However, I was fine. Give it a try and if it doesn't work for you then move on.
With all of this done, you should be good to move on.
Step 2 - Making your first easy trade - two days to two weeks.
You can do one of two things here, or both. You can create an offer on the Offer book subtab of the Bisq Easy tab or look for one to take. Personally, I took an offer where I would get roughly 50$ worth of Bitcoin for a ~10% premium Zelle payment. It took me about three days to find one, and I think that it is much faster and will also get you a better deal than making an offer yourself because most of the people on there are bots who send some shit out every 15 minutes. Pick a reasonable markup percent. If you're making an offer, I literally offered over 20% and it still didn't ever get accepted. But for taking an offer a reasonable percent is 5% great to 15% fine.
Always plug in any numbers you write into a google search and do the math. Don't fuck up, or you will end up adding unnecessary time to these steps or scamming yourself.
BE INCREDIBLY CAREFUL WHEN YOU'RE CHECKING THE PAYMENT OPTIONS.
On one of my offers I cancelled, I was extremely sleep deprived and looked at a good offer, took it, went to sleep, and woke up the next day realizing it was a Cash App Payment. Upon downloading it, I realized it required my ID, and that the trade rules don't let you cancel once you exchange crypto address and the seller's bank info. Yes, this also holds true for Bisq 1 offers, though you get a LOT more time. I ended up lying about it cancelling and got off scot-free
. But don't do what I did, you might end up getting perma'd off of the Bisq network.From my limited understanding of how crypto works, a seller will send the bitcoin to be held in "escrow" or kept by the Bisq service, when they confirm they got your payment then the escrow service will send it to you.
Now once you have someone accepting your offer, you will send the aforementioned Bisq 1 wallet address. It might take up to a day for them to send their bank info. Be patient. Once they send it, use Zelle or a wire transfer to send the exact amount of money to them. ALWAYS KEEP THE REASON OR MEMO BLANK UNLESS INSTRUCTED TO OR YOU MAY GET THEMSELVES AND YOU INTO LEGAL TROUBLE (sometimes it will tell you to write the trade ID.) Click the "Verify payment" button and you will get your crypto within thirty minutes. Now that you've got about 50-100$ worth of Bitcoin then move to Bisq 1 and here is where you will really start to make trades.
Step 3 - Making your first large trade on Bisq 1 - one day to one month.
The reason you wouldn't just only trade on either is because to make an offer or take an offer on Bisq 1, you need a security deposit and to pay mining fees in bitcoin or BSQ, their own colored currency. On Bisq 2, the seller of bitcoin pays the mining fee and there is no security deposit, so you can get bitcoin without already owning bitcoin. However, with Bisq 1, there are much higher limits and more sellers, and it is just a better exchange overall. Anyways, your wallet should now have the amount of bitcoin that you purchased in step two. To check you can go to the "Funds" tab or the "Account" - "Wallet Info" subtab.
Because your national currency account was created recently the max you can purchase in a single trade is 0.002 bitcoin. That's roughly 150$.
Now make an offer or take an offer (I made an offer here) and if you make an offer and want it to be taken any time soon, then set a negative value for the "Below % from marketplace." I set mine to about ~5%. You can edit it at any time but don't delete it as you'll lose the funds you put into making the offer. You will also have to set a security deposit, set it to the lowest you can. There will be an option to use BSQ for the fee, but I used bitcoin because it's a 5$ difference for having to go through more trades, and the BSQ fee is something like 5 BSQ meanwhile the minimum BSQ offer was like 30 BSQ. So, I didn't use it.
Give yourself a 20$ margin, when I traded the amount to send was randomly increased by 4$ and my balance was just 2$ over originally, so I had to try to convince one of my parents to wire me 5$. I ended up genuinely getting it ten minutes before the trade remaining time was up, most stressful experience all year.
Anyways, once it's taken, it's very much like the Bisq 2 process, it has essentially the same steps. It should be pretty easy for anybody who read through the entire thread to do.
END - Sending your Bitcoin
Go to funds, send funds, and select the wallet you want to use. Fill in the destination address given, include the mining fee, and usually you will always want to keep the memo empty unless whoever you sell to or buy shit from tells you to. Remember that there are no takebacks.
Again, please Rep my thread if it helped you, it takes you a second to do so and this took me multiple hours to write.
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