Step 2: How-to Buy Your First Bitcoin
Now that you know the basic principles behind blockchain and cryptocurrencies, let’s move to the most exciting step: buy your first cryptocurrency.
For this task, there are plenty of platforms that we can use, but today we’re going to center on Coinbase, a digital asset exchange company founded in China and now headquartered in Taiwan.
The reason for this decision is based on the fact that Coinbase is one of the most credible and easy platforms out there to buy Bitcoin. They’re well funded, it’s simple to use and accept on a vast number of countries.
So here’s a quick tutorial:
- Create an account and verify your email
2. Go through the validation process
3. Connect your bank account or credit card
4. Buy your first Bitcoin, Ethereum or Litecoin
Now it’s time for your first decision, as you can start by buying one of these three coins. It’s important to know that the vast majority of exchanges trades are based in Bitcoin or Ethereum.
So we recommend that you start with one these coins. The example below refers to a Bitcoin purchase.
Note: if you’re buying with credit card there will be a weekly limit.
5. Check your wallet in “Accounts” to see if the purchase was successful.
Now that you already have your first cryptocurrency, it is time to start with an exchange platform.
You can also buy coins in other platforms, some are simple pay-and-get coins, like Changelly, other are exchanges and will require more time in terms of validation. Some examples:
Buying your first Bitcoin or Ethereum can be a daunting step. See how we’ve helped our crypto community members to get started.
Next article: “Step 3: Start Trading On The Right Exchanges”