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In this guide, we will break out the steps for the easiest way to buy Bitcoin.
This is the perfect guide for newcomers that wants to buy Bitcoin. We will break down the steps you need to take and you’ll be a Bitcoiner in no time!
The easiest way to buy Bitcoin – step by step guide
In this guide we will cover the following steps, making buying Bitcoin easier than ever.
- Buy Bitcoin at a crypto exchange
- Store your Bitcoins at a crypto wallet
- Follow Bitcoin’s price with a portfolio app
Step 1 ) Buy Option 1 – Instant Buying Bitcoin
The absolutely easiest way to buy Bitcoin today is via one of the instant buy platforms. Here you can directly buy Bitcoin from your credit card, debit or bank card.
This process make it super easy for beginners to experts to buy Bitcoin instantly without having to wait or going through a complex registration process.
Our recommended platforms for instant buying Bitcoin are:
1 ) Changelly
Changelly became very popular during 2017 because they made it super easy for people to trade cryptocurrencies with just a few clicks. Compared to many other exchanges when it was far too complex.
Now Changelly have added features where it is possible for us to buy cryptocurrencies like Bitcoin (and others) instantly with our credit, debit or bank cards. The steps to using Changelly are:
- Go to www.changelly.com and click on ‘Buy crypto with bank card’.
- Select your currency (USD or EUR) and then select the amount in fiat (USD, EUR) or Bitcoin that you want to buy for
- Enter the Bitcoin address that you want to send the funds to when completed
- Go through the following steps, and enter your billing information, personal details, and payment details
- Verify your email and phone number to make the transaction secure
- Done and now you can track the transaction of your Bitcoins which will arrive shortly
2 ) Coinmama
Another option similar to Changelly is Coinmama.
It also makes it possible for us to buy Bitcoins with ease. All you have to do is create an account first and then have your bank card ready. There are banners on the site showing you how you can buy BTCs without any hassle.
The steps to buying BTC at Coinmama are:
- First, go to www.coinmama.com, and enter your email address on the get started button directly on the site.
- After you have created an account you need to verify to level 1 (to buy up to $10,000) before you can buy Bitcoin. That means to enter some personal details and validate who you are
- After that click on ‘Buy Bitcoin’ and select the amount that you want to buy for
- Enter your BTC wallet address to send your funds to when completed
- Enter your card details, personal details and complete the transaction
- Done – wait for your BTCs to arrive and enjoy being in the crypto-club!
Step 1 ) Buy Option 2 – Using a Crypto Exchange to Buy Bitcoin
The easy way to buy Bitcoins with today is still by using a crypto exchange.
Don’t worry, they are easy to use websites where you can deposit money via a bank (wire) transfer, or pay directly with your credit or debit card.
Pretty much every crypto exchange works the same.
You can buy Bitcoin at pretty much every exchange, but those linked are vetted and tried by us for ease of use.
So to start buying Bitcoin you need to register at one of these crypto exchanges. A lot of newcomers start out with Coinbase. And it is trusted by many to be the easier ways to buy Bitcoin at.
After you have created an account (you might need to verified your identity) you either connect your bank account or add a debit or credit card. You then select the amount $ / £ / € that you want to buy for.
Remember that you don’t have to buy 1 whole Bitcoin, you can buy BTC in fractions. Let us say you wanted to buy for $500 that would give you 0,052 Bitcoin (by today’s rates, remember Bitcoins price fluctuate daily).
Compare some of the top crypto exchanges in 2019 to buy Bitcoin at.
Usual steps to buy Bitcoin at Coinbase; Binance, etc are:
Follow these steps for the easy way to buying Bitcoin
- Register at their website
- You might need to provide identity details – KYC documents (usually for bank transfer and when withdrawing or depositing larger sums)
- Connect your bank account
- Transfer sum in USD, GBP, EUR, etc from bank to Coinbase, Binance or another crypto exchange
- Buy Bitcoin with that sum you transferred
Done! Now you have bought your Bitcoins, congratulations! And welcome to the club 🙂
But we want to urge you that you should consider storing your newly bought Bitcoins somewhere very safe. And we recommend that you invest in a cryptocurrency hardware wallet. Which are the safest for storing Bitcoin and other cryptocurrencies at. No questions asked. So follow the next steps to make sure you are doing all you can to secure your Bitcoins.
2 ) Store your Bitcoins somewhere safe
Now you have two options for your Bitcoins.
Either you leave your newly bought Bitcoins at Coinbase, Binance or whatever crypto exchange you used.
But there are risks associated with that. As cryptocurrency exchanges, unfortunately, get hacked from time to time.
In the crypto space, it is common knowledge that you need to be your own bank. And there are many risks with keeping your Bitcoins, or cryptocurrencies at exchanges for longer times.
So unless you are planning to day trade with your Bitcoins recommend that you never keep a larger part of your Bitcoin holdings at any exchange.
Therefore advice from experienced crypto traders is that you should store your Bitcoins somewhere safe. And the safest option you have for your Bitcoins are crypto hardware wallets.
Some exchanges like Coinbase are more secure. But why take the risk?
Buy one that you like online and use one of our wallet guides to find out how to get started using them. It isn’t that hard. But it is definitely worth the effort and money.
A Bitcoin or cryptocurrency hardware wallet is a physical device that have a lot of smart features. Most hardware wallets make it near impossible for hackers to get access to your wallet and funds.
A crypto hardware wallet can’t get malware, and it remains disconnected from the internet until you use it. And for transactions to go through you need to use that same physical device. So it can’t be remotely hacked.
Read our guide on protecting your Bitcoins
3 ) Follow your Bitcoins value with a portfolio app
After buying and securing your Bitcoins the fun begins. Now you are like most Bitcoin investors hoping that your investment increases in value.
It is important with any investment to have a timeframe and price target in mind.
Are you investing in Bitcoin for some quick profits? Or are you investing and hoping for a bigger longterm return. Maybe as an alternative pension investment?
No matter your timeframe in mind, following the price of your investment is a given.
With a good crypto portfolio app, you simply add your Bitcoin or cryptocurrency holding. For example 1 BTC (Bitcoin). And then the apps can provide you real-time updates at any time showing the value of your holdings in your preferred Fiat currency (USD, GBP, EUR, etc).
You can also set alerts, for example when your holdings reach a certain price target. Maybe when 1 Bitcoin is valued at $15,000 USD.
Another great thing with the portfolio app is that you never need to access your hardware wallet to check up on the value of your holdings. This means that you expose them to fewer risks of getting hacked or stolen.
Hopefully, with this guide, you know that buying Bitcoin can be really easy if you know where to go. You will also have a good idea of not only how to buy Bitcoin but also where you can store them safely and follow their value in real-time.
For the next step to your journey we recommend a couple of other guides that will help you become even more comfortable with Bitcoin and cryptocurrencies:
To learn even more about investing in Bitcoin
- How to invest in Bitcoin the beginner guide
- The best Bitcoin and cryptocurrency wallets
- Where you can spend your Bitcoins
- How to Sell Bitcoin for cash – ‘cash out BTC’
If you have any thoughts or questions please feel free to leave a comment below, and welcome to the world of cryptocurrencies 🙂
Per Englund – Founder of Go CryptoWise a cryptocurrency and tech fan that want to see better and smarter products and services that make our lives better and easier