How To Buy DASH and Crypto On CEX with your Credit Card (For Beginners)
Take The First Step In Joining The Future Of Money
Hi, Sean here from CoinYou.Co. Its our mission to teach regular people how to use crypto because it is the future of money. If you want to know the benefits and why you should care about crypto, check out this short video.
Although it seems intimidating for people who are not tech savvy, it’s actually really easy to use crypto. It’s probably easier than using a credit card or bank account, but those formats are so normal that people have gotten used to it.
I’m going to be using some crypto terms, so if you want to make sure you understand all of the lingo, check out this ebook that has a crypto glossary.
I’m going to show you how to buy crypto on CEX, one of the oldest, biggest, and most reputable crypto exchanges started in 2013 that has never been hacked.
CEX.io supports most countries, but check the list to see if your country is restricted.
As of the time of this writing it was not possible to sell crypto for USD and withdrawl the funds to a USD bank account, but that could change. Check the CEX blog for the latest news about bank and card withdrawals.
Step 1: Click Here to go to CEX.io
Step 2: Choose your language and Create an account for CEX by clicking on Register.
Enter all of the required information and checkboxes and make sure your password is secure enough to get at least the yellow color to appear.
Remember that passwords are very important in crypto. Check out this guide on how to handle crypto passwords.
At this point it is important to set up 2 factor authentication. This is because it is much harder for someone to steal your crypto if they have to go through 2 different forms of verifying an account. For example, if someone cracked my crypto wallet password they still would not be able to get my crypto if they were also required to confirm a text message that went to my phone.
It is a best practice to always use 2 factor authentication with very secure passwords.
Step 3: Follow the instructions on how to confirm your email, enable 2 factor authentication, and verify your identity.
Step 4: Enter which crypto you want to buy and the currency you will use to buy it. Enter the amount of money and the amount of the crypto will autopopulate. CEX has minimum amounts, so a low amount of money may not be accepted. I entered 50 USD to buy DASH.
Step 4: Enter Visa/MasteryCard and Identity Information. (They did not allow me to enter my middle initial, so I entered my name without one)
Step 5: Upload photos of both sides of your ID next to your payment card and a selfie with your payment card
This step is a real pain. I have had trouble taking a photo that was clear enough and the photos were rejected and I had to resubmit them.
Remember that this process protects your security and prevents criminals and scammers from using the system.
If you are able to overcome this obstacle, you will be one of the few people in the world who own the future of money.
I took the photos with my phone and emailed them to myself using the “share” option. Then I went to my email on my computer and downloaded the photos to my computer and uploaded them to the CEX form. Click here to resize your image.
Step 6: After submitting the photos I was required to verify that a small amount of money was charged to my card.
I logged into my online banking account linked to my card and checked the most recent transaction. Then I entered the amount that was charged. Don’t worry, they will refund that amount.
I checked my account right away and nothing was charged so I checked back at a later time. I got an email that said it would take CEX some time to confirm my card.
I got an email that the payment card was verified.
I logged back into Cex.io
I actually never had to verify those amounts, my payment card was verified automatically.
So I tried to buy DASH again.
After entering the amount of dollars and clicking buy, I came to this payment page. I now have the option of storing my crypto on CEX or sending it to a particular address.
Having your crypto sitting on the CEX exchange will not do you much good. It’s not as secure as a hardware wallet. You also cannot invest in ICO’s or trade a high amount of coins. So insert your secure wallet address or send the crypto to an exchange with lots of coins to trade such as Binance.
After you paste your address, enter the number on the back of your payment card and click “Buy Now”.
Now you can use a service like this one to track your transaction. Wait times vary depending on the crypto. Some are almost instantaneous and others like Bitcoin can take 1 hour or longer to transfer. DASH takes between 1 second for “Insta-Send” and 2.5 minutes for a regular transaction to confirm.
Congratulations! You have taken the first step to joining the future of money!
Knowledge is power, especially when it is about emerging technology and financial literacy!
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