Idiot Proof Guide to Buying ANY Cryptocoin in Under <10 Minutes! — NOOB FRIENDLY.
Scenario:
You just showed your friend/family member your crypto gains, now they want in.
They are computer illiterate.
You — don’t want to explain it repeatedly, step-by-step to them, — so let me.
Just send them this article’s link.
Let’s go.
QUESTION #1 : HOW DO YOU BUY BITCOIN AND OTHER CRYPTOCOINS?
Buying cryptocoins takes place online on marketplaces called Exchanges. They are very similar to the traditional stock market in that:
consider a “coin” as a “stock”. You buy and sell these “coins” for different “coins” just like you would with a traditional stock.
HOWEVER,
One big exception is that unlike the traditional stock market, these crypto exchanges are open 24/7 hrs, 365 days a year.
On these exchanges you can:
- Buy cryptocoins directly with $USD
- Use certain coins (BTC, LTC, ETH) to buy other, smaller, “alternative” coins, or alt coins
- Sell coins for $USD
- Transfer coins as a gift/payment
QUESTION #2 : OKAY, NOW WHERE DO I BUY?
Since cryptocurrency is still in it’s infancy in terms of global public awareness, there are only certain exchanges that allow for direct $USD to coin transactions.
Luckily, if you live in the United States, the biggest bitcoin exchange in the world is based out of San Francisco and accepts $USD for coin directly.
This exchange is called Coinbase.
If you are not in the United States, don’t worry!
Coinbase is located in over 30 countries currently and accepts payment via connected bank account, SEPA transfer, Interac Online, Credit/Debit cards and many more payment methods.
GUIDE TO: First Coin Ever —in just 3 simple steps.
Step 1:
Register an account on Coinbase. Using our referral link, you will receive a FREE $10 worth of Bitcoin after you spend $100 on any coin offered.
Buy $100 worth, Receive $110 worth. Easy.
Step 2:
Connect your bank account. You’ll need to complete some verification steps before you can use the account. Once the verification steps are complete, you can start a purchase.
You can also connect your Debit or Credit card as well, which allow for instantaneous purchases— ZERO wait time.
Step 3:
Click the Buy/Sell icon on the Top Menu Bar.
Choose your payment method and amount $USD
Current choices are BTC, BCH, ETH and LTC.
Andddddddddd……… THAT’S IT!
You just bought you very first crypto-coin.
Welcome to the wild world of cryptocurrency!
You can close the article now.
OR
You can continue, and TRULY SEE just how far the rabbit hole goes.
Welcome to the world of alt coins.
Alt coins are simply all of the other coins that are not : BTC, ETH, or LTC.
They vary in price from pennies per coin:
up to +$1000 per coin:
You can look through every crypto coin here.
Research the coins on this list and make a decision on which you like and want to buy.
At the moment, there are no exchanges that offer $USD for alt coin, directly.
There are MANY exchanges that do BTC/ETH for alt-coins.
For this you will need:
BTC/ETH(using the instructions from the start of this article)
***I HIGHLY RECOMMEND USING ETH*** lower fees + faster transaction speeds than BTC
Once you have your BTC OR ETH (hint, hint).
Let’s go through how you will transfer them to these alt coin exchanges, effectively.
The exchanges I will be discussing in this article are the main two that I currently use, and the main two that I trust out of the many options for exchanges online.
#1: Binance: currently the largest crypto-coin exchange in the world!
This is my most used exchange currently, due to the fact that it has most of the top coins available in the world listed. Smooth interface, simple design. A must use exchange.
(Due to the recent MASSIVE influx of new investors, registration times may be slightly delayed due to the increase in traffic. If registration is temporarily unavailable when you attempt to register, simply try again in 30 minutes, it should be reopened shortly.)
#2: KuCoin: one of the hottest exchanges in the community, it has many of the more hard to find, newly released coins.
This is the exchange I use to buy the HOTTEST alt coins in the game currently. Many new, up-incoming coins are first listed on KuCoin, before they are added to the main larger exchanges. For this reason, many promising coins on this exchange are massive deals if bought early.
Once you have created accounts on both of those exchanges, I will talk you through the last few steps required to buy your alt coins!
MUST READ MONEY SAVING PRO-TIP INCLUDED BELOW!
So now your goal is to transfer your BTC or ETH from your Coinbase account to your Binance and KuCoin accounts.
You can do this directly from Coinbase, BUT you will have to pay a small transfer fee.
PRO-TIP TO TRANSFER FEE FREE EVERYTIME:
The secret to transfering for free is by using GDax, a partner site to Coinbase, owned by same company.
Create an account at GDAX. It will automatically link to your Coinbase account. Complete registration.
USING GDAX FOR FEE FREE TRANSFERS:
Once signed into GDAX, you will see this menu on the left side.
To transfer your funds from your Coinbase to GDAX, you will need to click the DEPOSIT button. Doing so will bring up the DEPOSIT FUNDS screen, click on the Coinbase Account option.
Next, choose the SOURCE (BTC Wallet or ETH Wallet) and enter in the AMOUNT that you want to transfer. Click Deposit Funds.
Complete! Funds are now in your GDAX account.
The final step is to transfer to Binance and KuCoin.
Before you transfer, you need to find your BTC or ETH deposit address for Binance and KuCoin individually.
To find the deposit address on Binance:
Binance → Funds → Deposits and Withdraw → ETH deposit address → Copy wallet address
and on KuCoin:
Decide which exchange you want to transfer to, copy that exchange’s BTC or ETH deposit address and then return back to GDAX.
On GDAX, click WITHDRAW. The WITHDRAW FUNDS menu will pop up, click the option BTC/ETH Address.
Under DESTINATION, simply just paste the wallet deposit address you had just copied from Binance or KuCoin.
Specifiy the amount you want to transfer.
Enter in your Two-Factor code(SMS or 2FA) and press WITHDRAW FUNDS.
COMPLETE! You have just transferred your BTC/ETH to Binance/KuCoin!
It will take a few minutes/hours for funds to arrive, depending on the network traffic. Once you have your funds, you can buy any coins that the exchanges offer.
FIN.
Done in under 10 minutes.
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