The easiest way to buy Bitcoin
If you are interested in buying Bitcoin, then this is the easy to follow guide to 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!
Step by step guide
1 ) To buy Bitcoin you need to use a cryptocurrency 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.
There are a couple of different cryptocurrency exchanges where you can pay with either a card, or deposit via your bank: Coinbase (use that link to get $10 free when buying for $100), Binance, OKEx, LocalBitcoins, Kucoin, eToro. You can buy Bitcoin at pretty much every exchange, but those linked are vetted and tried by us for ease of use.
So you register at one of these websites, Coinbase for example is a good place to start out with, and according to us the easiest place to buy Bitcoin at.
After you have created an account (you might need to verified your identity) you either connect your bank or add a 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 fractions. Lets say you wanted to buy for $500 that would give you 0,052 Bitcoin.
Compare some of the top crypto exchanges in 2019.
Usual steps to take at Coinbase, Binance, etc are:
- 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 other exchange account
- Buy Bitcoin with that sum you transferred
- Done! 🙂
2 ) After you’ve bought Bitcoin you should store it somewhere safe
You can just leave your newly bought Bitcoins at Coinbase, Binance or whatever website you used to. But one of the most commonly shared tips from experts to beginners in the crypto space is that you should always take full control over your crypto and Bitcoin. That means storing it somewhere safe, and exchanges unfortunately gets hacked from time to time. Some like Coinbase are more secure. But why take the risk?
So we recommend that you order a safe cryptocurrency wallet, like Ledger Nano or Trezor. Buy one that you like online and follow one of our guides to using them linked before, it’s easy to setup and after setting up your wallet you are ready.
Read our guide on protecting your Bitcoins
Hopefully with this guide you are now comfortable enough knowing where and how to buy Bitcoin.
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
- Best ways to convert Bitcoin for cash
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 wants to see better and smarter products and services that makes our lives better and easier