Coinbase only supports Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, and Litecoin for the moment, so if you want to stick with those three cryptocurrencies you can simply download the Coinbase app.

However, there are plenty of other exchanges. Bitfinex and Kraken are popular options that support those three, as well as dozens of other cryptocurrencies including Dash, Iota, Monero, Ripple, Stellar, Zcash, and more. Other options include Gemini, Bitstamp, and Bitwage, to name just a few.

You'll also need a wallet app for each type of cryptocurrency you're looking to hold. Coinbase makes it easy. The app stores your coins in its private servers in individual wallets for Bitcoin, Ether, and Litecoin. So if you're using Coinbase, all you need to download is the single app.

Here's how it looks. Yes, I compulsively organize my apps into folders and name said folders with corresponding emoji. Don't @ me.

However, going with Coinbase puts you at the mercy of its system. If you want to mix and match your own exchange and wallet apps, there are countless options for Bitcoin wallets using desktop and mobile apps, Ethereum wallets, and so on. From here on out we're walking you through the Coinbase experience, which all happens in the mobile app and can have you buying and selling coins in a matter of minutes.

Congratulations, you're officially a cryptocurrency owner. We only bought a fraction of an amount for the purposes of this story (Bitcoin is expensive, man) but you're eligible to buy as much as your bank will allow per week.

Same goes for selling: choose a coin in the Prices tab, and hit the Sell button instead. The limit differs depending on whether you're buying or selling. Coinbase has also upped its initial buying and selling limits, from a $5,000 USD buying limit and $10,000 USD selling limit, now offering a total daily limit of $25,000 USD.

Look at you go! You're rolling in the cryptocurrency now. Just tap over to the Accounts tab and check out the balances in your respective wallets.

The company also has its own standalone Coinbase Wallet app for Ethereum, which lets you hold coins bought and sold on the Coinbase exchange and other ERC20 tokens. Coinbase Wallet is also a DApp browser for interacting with decentralized Ethereum-based applications.

There is plenty of inherent risk with investing in cryptocurrency. Coinbase will even tell you so. Price surges may incapacitate the exchange temporarily, transactions take time to process, and if you're using the default Coinbase wallets, your encrypted coins are not under your control. Exchanges are also prime targets for hacking, and there are plenty of cautionary tales to prove it.

All the more reason for you to take advantage of as many built-in security and verification features as your exchange and wallet apps offer. Go to the Settings tab in the Coinbase app to access advanced passcode settings or add additional identity documents.

There will always be a risk in using online cryptocurency exchanges and wallet apps. Unless you're using cold storage and holding your own private keys, that's simply the reality of dabbling in cryptocurrency. Whether you're serious about investing or simply want to have some fun and stash some Bitcoin as a long-term holding, apps like Coinbase make it easy to get started. In minutes, you can begin wheeling and dealing Bitcoin, Ether, and Litecoin from the comfort of your smartphone.