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NOTE: The information provided on this site should not be considered financial advice and is provided for educational purposes only!

Welcome to Turbocharged Bitcoin, a site where hopefully you will learn from my mistakes about Bitcoin and other cryptocurrencies. On this site you will learn what cryptocurrencies are and how they work. I will be making extensive use of YouTube video playlists that contain, what I believe to be, the best videos available at describing each topic.

For playlists that cover a single topic, please don't feel that you must watch all the videos in the playlist. Watching the first video is usually sufficient, and the others are there for people who want to dive deeper into a topic. Some playlists have videos about specific products or sites, like Bitcoin wallets or dealers. In those cases you may want to jump directly to the video that covers the item you are interested in.

Some of the links on this site are referral links for affiliate programs I participate in. Clicking on these links will not cost you any additional, should you decide to purchase the product or use the service, but will help me keep this site up-to-date. And in some cases, these links will even get you a discount! So, if you decide to buy a product or use a service you learned about here, please consider clicking through using one of my links.

Thank you!

What are Bitcoins?

Bitcoin is a type of digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank. Here is a video playlist that explains, in increasing levels of detail, what Bitcoins are. I've added two great documentaries on Bitcoin at the end. I highly recommend watching these!

What is Blockchain Technology?

The blockchain is a digital ledger in which transactions made in cryptocurrencies are recorded chronologically and publicly. All cryptocurrencies are built on top of Blockchain Technology:

Why Acquire Bitcoins?

So now that you understand what Bitcoins are, we need to examine why you should want to own some Bitcoin. I believe, based on information provided in the following video playlist and personal experience, that Bitcoins have the potential to increase in value to unimaginable levels, in a relatively short period of time. I purchased my first Bitcoin when the value was $1,180 USD. In just 2 months the value went up to $2,500 USD and continues to climb. The current value in US Dollars can be seen in the widget at the top of the page.

Of course, there are no guarantees this trend will continue. And, Bitcoin has seen some dramatic decreases in value in the past, but has always rebounded over time to new highs. For these reasons I do not invest money I can't afford to lose, no matter how unlikely, and I believe in holding cryptocurrency assets for the long term. If these videos don't make you want to run out and get at least a small amount of Bitcoin, nothing will (This is one playlist I recommend you watch all the way through, if you have the time):

Bitcoin Wallets:

At this point you might be wondering how do you store your Bitcoin. In a wallet, of course! But not a fancy, leather wallet like you carry your cash in, a digital wallet. Digital wallets are an entire subject unto themselves, beyond the scope of this tutorial.

However, it's important to understand what they are and some of the different wallet options you have. There are desktop wallets, phone wallets, online wallets, browser wallets, paper wallets and hardware wallets to name a few. I suggest an online wallet, linked to your phone, with enough Bitcoin in it to handle small transactions.

Keep in mind, you may have to settle for whatever wallet(s) are available for a particular coin. Not all coins can be stored in any given wallet. Check the coin's web site for the wallets that are available for that coin. For the most popular coins, I have had good results with the Blockchain.info wallet. Setting up the blockchain wallet is described in video #2.

Video #3 is a comparison of the three most popular hardware wallets. Hardware wallets are the safest way to store large quantities of Bitcoin, because not only do you control the private key, but it is locked inside the hardware and never revealed. Hardware wallets are considered cold storage. You can easily send coins to cold storage wallets, but it is slightly more difficult to get the coins out than with an online wallet, for instance. I personally own a KeepKey (Amazon) and I love it, but video #3 also compares my second favorite, the Ledger Nano S (Amazon) and the Trezor.

One of the newest hardware wallets, CoolWallet is interesting in that it is the size of a credit card! For more information on CoolWallet watch video #4.

If you like the safety of storing your Bitcoin in a cold storage wallet, but can't afford one of the fancy hardware wallets, there are two low cost alternatives. A paper wallet and a USB wallet, but they are limited to Bitcoins, only. Video #5 explains how to safely create a paper wallet and video #6 explains how to create a USB wallet. Don't take any shortcuts and follow the instructions exactly, to ensure the security of your cold storage is not compromised.

How to purchase Bitcoin:

You should now have your wallet all setup and ready to receive Bitcoin. Don't forget to take all of the security steps to ensure that your wallet is as secure as possible. Now for the fun part, loading Bitcoin into your wallet.

You have a number of options. You can purchase Bitcoin from someone you know, from someone locally, you can use cash, a bank account or a credit card. Here are my recommendations:

If you want to use a credit card or a bank account, these are good sites:


The fastest way to buy Bitcoin is with cash. Here are some cash sites:


Finally, there are easy ways to convert one cryptocurrency into another.


What are Altcoins?

There are now over 800 cryptocurrencies with a total market capitalization of more than $100 Billion. All cryptocurrencies, other than Bitcoin, are referred to as altcoins. You can see the complete list on coinmarketcap.com.

Just as you should diversify your portfolio in general (Stocks, Precious Metals, Real Estate, etc.), it is probably a good idea to diversify your cryptocurrency investment. I am splitting my cryptocurrency holdings up roughly as follows:


NOTE: I recently moved some of my altcoin holdings into Bitcoin, so the percentages have changed drastically.

These are the cryptocurrencies I currently own with portfolio percentage:
These are the altcoins that I am keeping an eye on. I'm looking for buying opportunities where Bitcoin is up and one of these are in the red:


Brand new coins are first sold to the public in what is called an ICO (Initial Coin Offering). An ICO is an event in which a new cryptocurrency project sells part of its cryptocurrency tokens to early adopters and enthusiasts in exchange for money today. ICOs provide a way for cryptocurrency project creators to raise money for their operations. Most ICOs raise money in Bitcoin or other cryptocurrencies. A good site for information on ICO's is ICO Tracker. Not all tokens offered for sale in an ICO will go up in value or even survive. As always, do your research first! The last video in this playlist goes into a lot of detail on ICO's. Don't even think about investing in an ICO without watching this video first!

Bitcoin Businesses:

There are opportunities to make money with Bitcoin, but I believe most are not legitimate businesses. I've been in two businesses, GladiaCoin and Control-Finance, that looked great at first, but eventually fell apart and a lot of people lost a lot of money! I would steer clear of any program where you deposit some amount of Bitcoin and they pay you back a daily percentage. Especially if they pay big bonuses for referring new customers (MLM). I honestly believe they are not sustainable businesses and are very high risk.

So what ways are there to make money with Bitcoin?
I personally believe the safest way to make money with cryptocurrencies is to buy, hold and stake (PoS Mineable) coins, as described above.

Important News:

In this section I will provide videos I consider to be important and timely. These videos will change often as they will become out-of-date as time goes by.

Continuing Education:

If you decide to get started in cryptocurrencies, it's important to keep up-to-date. Where do I go daily for important cryptocurrency news and updates? I watch a lot of YouTube videos. Here is a list of the channels I watch daily, in no particular order:


So, please visit these hard working YouTube content providers, and if you like what you see, subscribe to their channel so you will get notifications when they publish a new video.

I hope you have found the information on my Turbocharged Bitcoin site informative. Please let me know if you have any suggestions for improvements or to correct any mistakes you may find. GOOD LUCK!