How To Buy Bitcoin
CoinBase.com allows you to purchase bitcoin using your credit card. You only need to provide your public bitcoin address which you created on Electrum to send your Bitcoin purchase to your wallet.
You can also buy BTC using any currency at Localbitcoins.com, another popular choice for ease of use.
To purchase your first Bitcoin let’s use
Coinbase
.
First signup at Coinbase.com
This will give you an easy payment method to convert your fiat currency or USD to Bitcoin.
You’ll need these things to to setup your Coinbase account:
- A bank account or Debit Card
- A cell phone to connect with your account
- An email to connect with your account
- ID, drivers license or passport (sometimes they do not ask you for this)
Click signup, then enter account details such as your First Name, Last Name, Email Address, Password, and the State that you live in.
On the next few pages, you’ll confirm your email, phone number, etc.
Now it’s time to add a payment method to your Coinbase Account
On the “Add Payment Method” page you are given three different options. You can connect your PayPal Account, Bank Account, or Credit/Debit Card to your Coinbase account.
We’re going to show you how to add a credit card or debit card.
You can purchase and sell Bitcoin with your Bank Account. The issue is that it takes about 4-5 days to purchase using your bank account. This is because it takes that amount of time roughly to complete an ACH transfer (Typical Bank Transfer).
Once you have money transferred into your account, you can buy and sell bitcoin instantly.
Credit/Debit Card
When you connect your Credit or Debit card to your Coinbase account, you can purchase Bitcoin instantly. If you do decide to sell your Bitcoin and transfer it off of your Coinbase account back to fiat currency, you will have to connect a bank account.
Coinbase will not be able to transfer money back onto your Credit or Debit card.
Now you’re set to purchase Bitcoin from Coinbase.
Purchasing Bitcoin with Coinbase is a painless process. This is why it has become one of the most popular mediums for buying and selling Bitcoin.
Simply go to the “Buy/Sell” section in the top menu. You’ll be brought to the following page:
At the top of the buy box, choose which cryptocurrency you are going to purchase. In this case you’ll be purchasing Bitcoin.
In the next section, choose your payment method. Choose your Credit/Debit card.
Enter the amount of Bitcoin you wish to purchase in either fiat currency like USD.
Click the “Buy Bitcoin” button, and you’ll be asked to confirm the transaction on the next page.
Click the “Confirm Buy” button.
Congratulations! You have now purchased your first Bitcoin!
Now that you have some Bitcoin, you’ll want to go on to the courses that teach you how to set up a hardware wallet. Storing your cryptocurrency on an exchange is not as safe as setting up and storing it in your own hardware wallet.
We hope learning how to Get Your First Bitcoin leads you to becoming an expert at incorporating cryptocurrency into your life or your business.
Stay smart. Keep learning and take yourself all the places you’ve ever wanted to go!
