How to Buy Cryptocurrency? A step by step guide to buying cryptocurrency.
Step 1: Create an account on Coinbase
Step 2: Link your bank account with your Coinbase account
Step 3: Buy BTC on Coinbase (or Eth/LTC)
Step 4: Create an account on Binance (you can use this referral link)
Step 5: Transfer BTC from Coinbase to Binance
How to Buy Cryptocurrency? A step by step guide to buying cryptocurrency.
With the recent boom in interest towards cryptocurrencies, we see more and more users are looking to invest and get exposure to this new asset class. Investing in cryptocurrency can be complex but with a little research you can get started.
We are going to cover how to buy cryptocurrency, choosing a wallet and which exchanges to use in this article. This is not financial advice or an endorsement of any project but rather a step by step guide on how to buy your first bitcoin or altcoin.
Step 1: Create an account at Coinbase
Coinbase is one of the largest exchanges that you can buy crypto from. They accept US dollars, Euros and GBP and have very simple purchasing methods. You simply register an account at the exchange, deposit funds and then buy Bitcoin, Etherium (ETH), Litecoin (LTC) or Bitcoin Cash (BCH).
Step 2: Move your bitcoin or altcoins over to an exchange like Binance
Once you have purchased Bitcoin or Altcoins on Coinbase you should immediately move it to either Binance or an Altcoin specific wallet. Many people would recommend storing your coins on a hardware wallet like Ledger Nano S as these are offline wallets that
The first step is to pick a reliable cryptocurrency exchange. We recommend Coinbase, due to its easy-to-use platform, and the ability for anyone to buy cryptocurrencies with PayPal, bank transfer, or debit/credit cards.
Another option is Binance. Here’s a step by step guide for purchasing crypto on Binance.
Once your account is ready, you can convert your currency into BTC or ETH. Then you can use your BTC or ETH to purchase other cryptocurrencies in the market.
Many people are wondering how to buy cryptocurrency. In this step-by-step guide, I will show you how to buy cryptocurrency in an easy way.
The first thing you need is a wallet to store your cryptocurrency. Cryptocurrency belong only to you and are encrypted with a series of private keys. If you do not have a wallet, you can actually buy one. There are many different kinds of wallets in which you can store your cryptocurrency. You can choose from the following:
Hardware Wallet – The most secure but also the most expensive option is a hardware wallet such as Trezor or Ledger Nano S where you keep your cryptocurrency offline in cold storage and these wallets support many different coins such as Bitcoin, Ethereum, Litecoin, Dash, Zcash and others.
These wallets are protected by a PIN code and also have additional security measures such as two-factor authentication. If someone steals your hardware wallet, he/she won’t be able to access your coins without knowing the PIN code.
The advantage of these wallets is that they protect against keyloggers that may try to steal your private keys from your computer or mobile phone, so it’s very safe if someone hacks into your personal computer or mobile phone because he/she won’t have access to
If you’re reading this, chances are that you’ve heard of cryptocurrency, you’re interested in it, and you want to buy some. But how?
You’re probably also thinking about the fact that there are so many cryptocurrency scams out there. You hear stories of people losing their life savings by investing in things they don’t understand. Or getting tricked into scams.
It’s a reasonable concern.
But the truth is: buying and owning cryptocurrency is not actually all that complicated once you know what you’re doing. It might seem like rocket science from the outside, but it’s really not.
The process for buying cryptocurrency is pretty simple and consists of three steps:
Get a wallet
Buy Bitcoin/Ethereum
Trade Bitcoin/Ethereum for altcoins
That’s it! Those are the only three steps you need to follow to get started in buying and trading cryptocurrency. (Note: if you want to know more about each step, keep reading below.)
Cryptocurrency is a unique digital payment system that is independent of any government or central bank. This means that it has a lot of advantages over traditional currencies, but also many drawbacks. We explain the basics below, but if you want more details, visit our cryptocurrency section.
The most popular cryptocurrencies today, in order of total market value:
Bitcoin (BTC), worth over $10 billion
Ethereum (ETH), worth over $1 billion
Ripple (XRP), worth over $500 million
Litecoin (LTC), worth over $200 million
Monero (XMR), worth over $100 million
Dash, worth over $90 million
Name:How to be a bad writer