top of page

Securely Navigating Crypto 101:

Essential Beginner Basics

BUT FIRST: The Fine Print. 

This information is intended solely for educational purposes only and should not serve as the basis for any investment decisions a visitor may contemplate. MEGAN KASPAR, including affiliations, does not receive any direct benefit or profit from sharing the following information or from your implementation of it. And as always, DYOR!

 

Also review: Disclosures.

Step-by-Step Guide to Buying Bitcoin, Ethereum, and Solana and other cryptos on Gemini, Storing on Ledger, and Learning from Trusted Sources

1. Buy a Ledger Device

  • Visit the Official Ledger Website: Go to Ledger.com and navigate to the Products section.

  • Choose Your Ledger Device: Ledger offers multiple options such as the Ledger Nano X (which supports mobile connectivity) or the Ledger Nano S Plus (a more affordable option).

  • Add to Cart and Purchase: After selecting your device, add it to your cart and proceed to checkout. Ensure you're purchasing directly from the official website for security reasons. Do not purchase devices from third parties such as Amazon. 

  • Receive Your Ledger Device: Once your Ledger arrives, proceed to the next steps to set it up before buying cryptocurrency.

2. Create and Verify Your Gemini Account

  • Visit the Gemini Website: Go to Gemini.com and click on Get Started.

  • Register an Account: Enter your personal details such as name, email, and password.

  • Verify Identity: Upload a government-issued ID (passport, driver’s license) to comply with KYC (Know Your Customer) regulations.

  • Enable Two-Factor Authentication (2FA): This adds an extra layer of security by requiring a secondary code each time you log in.

3. Deposit Funds to Your Gemini Account

  • Link Your Bank Account: After logging in, go to the Funding Sources section and link your bank account to Gemini.

  • Deposit Funds: Select Deposit Funds, choose the amount you want to transfer, and confirm the transaction.

4. Set Up Your Ledger Wallet

  • Unbox and Set Up Ledger: Open your Ledger Nano device and follow the instructions on-screen to initialize your hardware wallet. Write down the 24-word recovery phrase and store it securely. Watch the security videos Ledger provides. Never store your recovery phrase on a device. Write it down on paper and store securely in physical only. 

  • Install Ledger Live: Download and install the Ledger Live app from the official Ledger website.

  • Add Accounts: Within Ledger Live, add accounts for Bitcoin, Ethereum, and Solana.

5. Buy Bitcoin, Ethereum, Solana and other crypto on Gemini

  • Navigate to Trade: On the dashboard, click on the Market tab and search for the cryptocurrency (e.g., Bitcoin (BTC), Ethereum (ETH), Solana (SOL)).

  • Choose Purchase Type: You can either place a market order (buy immediately at the current price) or a limit order (set a price at which to buy).

  • Confirm Purchase: After selecting the amount, confirm the purchase. Your cryptocurrency will now appear in your Gemini wallet.

6. Transfer Crypto to Ledger from Gemini

  • Go to Gemini Account: On Gemini, navigate to your portfolio.

  • Select the Cryptocurrency to Withdraw: Choose Bitcoin, Ethereum, or Solana, and click on Withdraw.

  • Enter Your Ledger Wallet Address: Copy the wallet address for the specific coin from Ledger Live and paste it into Gemini’s withdrawal section.

  • Do a small amount for a test transaction first.

  • Confirm Withdrawal: Verify all details (amount, address) and confirm the withdrawal. It may take a few minutes to a few hours for the funds to arrive in your Ledger wallet.

  • Verify Amount Received: Once you have verified you have received your small test transaction amount, follow the steps above to send the rest of the crypto you would like to store on your Ledger. 

7. Use Blockchain Explorers to Track Transactions and Learn More

8. Learn About Bitcoin, Ethereum, and Solana from Trusted Sources

9. Track Market Prices and Stay Informed

  • CoinMarketCap: Use CoinMarketCap to track the market prices of Bitcoin, Ethereum, and Solana along with other relevant market data like trading volume, market cap, and more.

  • CoinGecko: Another popular market tracker is CoinGecko which offers a detailed comparison of different cryptocurrencies.

Key Takeaways

  1. Security: Always store your cryptocurrency on a hardware wallet like Ledger for maximum security. Never leave it on an exchange or hot wallet (i.e.. Metamask) 

  2. Stay Informed: Utilize trusted sources like the https://bitcoin.org, https://ethereum.org, and https://solana.org to continually educate yourself 

  3. Track Your Assets: Use tools like blockchain explorers and CoinMarketCap to monitor transactions and market conditions.

Get on the List

for FirstLight's emerging technology newsletter & deeper dives into

the crypto asset class.

✅ 

  • Facebook
  • Twitter
  • Instagram
  • LinkedIn
bottom of page