How to buy cryptocurrencies – Easily and quickly buy your first cryptocurrency
In a new, updated article, we write how to buy cryptocurrencies in a few simple steps.
To successfully purchase cryptocurrencies you need a computer or smartphone, your debit or credit card and 10 minutes of your time. You can also make a purchase by making a payment to the account of the exchange office, with a few more payment options but more on that below.
How to buy cryptocurrencies?
The process today is very simple and automated so that even a person who is not familiar with all the techniques, can buy in just a few minutes.
In the sea of crypto exchanges that you can come across on the Internet, we will single out two that are today among the most famous and most important of all, the easiest to use.
We have an account on both exchanges so we are only talking about personal experiences.
There are four steps to buying your first cryptocurrency:
- registration at the exchange office
- account verification
- linking a payment option
- buying cryptocurrency
Bitpanda – A very popular cryptocurrency exchange in the EU based in Vienna, Austria.
It offers a large selection of payment options, we definitely recommend it if you want a fast and secure purchase of cryptocurrencies. Below we write step by step to successfully create an account and buy cryptocurrencies.
By clicking on the Bitpanda site link in bing, we come to the page where we will click on “Get started” for the first step.
The next step is to enter the name, surname, email address and password that we will use to log in to the Bitpanda account. When you have done so, indicate that you accept the terms of service and click on “Create account”.
If we have done all of the above, Bitpanda will send us an email to confirm our registration. Check your email and follow the instructions.
Once we have verified the email address, we can now log in to the account with the information we used to register.
Before buying cryptocurrencies, Bitpanda and many other exchange offices ask their users to verify their account or identity. The verification process is very simple and can be done through the app if it is easier for you to use your mobile phone. Bitpanda has its own Android and iOS application that you can download by visiting the Google Play Store or App Store and search for it by typing the word “bitpanda”. Download the app and log in with your data.
The verification process via the mobile app is as follows:
Verification may take some time if your internet connection is not good or something happens to the verification program because it is usually done by a third party. It is important to try the verification several times if you do not pass the first one. Basically, everything should work normally but cleanly to let you know about possible problems.
Once you have done the verification, we now come to the last step, and that is buying a cryptocurrency.
The process is simple, if you are logged in to your account, ie on the application, click on the “Trade” option. We are on the iOS app but it is similar or almost the same on Android.
After that, we select the “Deposit” option.
The system will do the conversion when we pay in dollars and you will receive the exact amount you specified.
After selecting the currency, we choose the payment option. If you want to make an instant purchase then use your card. To save money, the best option is a SEPA transfer but it will take 2-3 business days for the money to sit in your bitpanda account. There are other options with which you can make a payment.
The last step is to enter the amount for the deposit, accept the conditions and click “Continue”.
The system will finalize the process at that point and thus the payment is complete.
Now that you have funds in your bitpanda account, you can make a purchase in a few clicks.
By returning to the Trade option, click Buy then select the cryptocurrency you want to buy. Bitpanda currently has 30 supported cryptocurrencies, the most famous of which are Litecoin, Ethereum, Ripple, Dash and others.
With this we have completed the first part of how to buy cryptocurrencies through a bitpand exchange office.
Below we bring the second part in which we explained how Coinbase works.
How to buy cryptocurrencies through Coinbase exchange
Coinbase – One of the most famous digital exchange offices for buying, selling and storing cryptocurrencies.
Registration is very simple, all you have to do is enter your email address and follow the instructions. Below we also show you pictures so that your registration can go smoothly.
To create your account, visit the Coinbase page, enter your email address and click on “Get started”.
You will then be asked to enter your name, surname, email and password with which you will later log in to your account.
Once you’ve created an account, check your email to verify your email address.
Great, once you’ve verified your email address, you’re one step closer to buying your first cryptocurrency!
The next step is identity verification. Coinbase and many other exchange offices require their customers to verify the account by verifying their identity with a copy of an ID card or other document on the basis of which it can be determined that it is the right person. This process is called KYC / AML.
When you first want to buy a cryptocurrency, your account will have a certain limit. Verification increases this limit. In this case, verification on the Coinbase exchange allows us to raise the limits on buying and selling them.
Coinbase doesn’t have to ask you for verification right away, it depends on several factors. Either way, the verification process is very simple and fast so it won’t bother you if you want to make your purchase right away.
Now that we have clarified the verification, we can proceed to the next step.
If you are logged into your account, you will notice a blue “Trade” button.
By clicking on it, we select the payment option.
Currently on Coinbase we can pay with a card or SEPA account. If you want to buy your cryptocurrency right away without waiting, then a card is the best choice.
SEPA transfer offers an investment with larger amounts, but it will take 1-2 business days for the funds to be transferred to your account so that they can complete the transaction.
The last step is to choose the cryptocurrency and the amount for which we want to buy it. When you have done this, click on “Preview Buy” to see the amount of cryptocurrency you will receive. If you are satisfied, click on “Buy now”.
Congratulations, you just bought your first cryptocurrency at Coinbase Exchange.
If you have additional questions, or something is not clear to you, feel free to leave a comment or contact us.