In this guide, we’re going to teach you how to buy cryptocurrency in the safest and most popular way. If you decided to learn how to buy and sell cryptocurrency and you don’t know where to start, you landed in the right place.
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If you want to buy your first cryptocurrency is very difficult to do so. Even though there are many platforms and ways on how to buy cryptocurrency with USD and other fiat money, they are not all that safe.
Learning how to buy cryptocurrency with USD can be a daunting task. There are lots of things you need to consider before you learn how to purchase cryptocurrency. However, this process doesn’t need to be that complicated.
By the end of this crypto beginners guide, you’ll learn more than just how do I buy cryptocurrency. We will also answer all the following questions:
- How to buy crypto with a credit or debit card.
- How to buy alt cryptocurrency.
- And many more.
Wondering on how to buy cryptocurrency with USD?
So, let’s get started.
How to Buy Cryptocurrency with USD
The first thing you need to get started trading bitcoin is to open a bitcoin wallet. If you do not have a bitcoin wallet then you can open one at the biggest wallet called Coinbase. We have arranged a special deal for everyone wanting to get started in bitcoin to get a free $10 at Coinbase. Get your free $10 by opening your coinbase account here.
Coinbase is both an exchange and a Bitcoin wallet. This means that you can convert US Dollars to Bitcoins and securely store your bitcoins just like a safe deposit box at a bank.
To start the process on how to buy cryptocurrency with USD, we need to create our own Coinbase account.
Start by providing your email address and pick up a secure password. Our account is created once we verify our email address.
Finally, we need to accept the user agreement and your new Coinbase account is created.
Initially, the current account balance will have zero bitcoins in it.
Before we can learn how to buy cryptocurrency we need to complete two steps:
- Verify the bank account.
- Verify the phone number.
Verifying the phone number to your Coinbase account is actually a security feature. This will enable the two-factor authentication on your exchange account.
Once you verify the phone number, when you log into your Coinbase account you will be required to enter beside your password a security token that you will receive by your phone. This feature will prevent anyone from stealing your account.
This is an extra level of security to have.
After you completed this step you can return to the Buy/ Sell Bitcoin section.
Now, all you have to do is to verify your bank account. You simply have to link your personal bank account to Coinbase. You also have the option to perform a deposit verification which takes up to 2 – 3 business days to complete.
This process allows Coinbase to authenticate that the bank account is actually yours.
Congratulation! Your bank account is now verified and you can start buying your first Bitcoin.
So, let’s now see how do I buy cryptocurrency using cash and Cryptocurrency exchange Coinbase.
How to Buy Cryptocurrency
On the Buy/Sell Bitcoin page you can enter the amount of Bitcoin you wish to buy. You also have the ability to buy fractions of a Bitcoin, like 10.5 BTC or even a more precise amount like 2.782.
At the time of writing this article, the price of 1 Bitcoin is $3,548.
Bitcoin price is pretty volatile, which means that the price changes very frequently.
When you are ready to purchase your BTC just click on the Buy Bitcoin button. You’re then presented with confirmation including the total cost for buying Bitcoin and when your cryptocurrency will arrive in your account.
If you followed all the steps highlighted in this crypto guide you should successfully bought your first Bitcoins.
There are many things you can do with your just purchased bitcoins. First, you can buy products or services with bitcoins or send funds to friends and family, which is much cheaper and faster than using services like bank transfers or Western Union.
You can diversify your cryptocurrency portfolio and learn how to buy alt cryptocurrency.
How to Buy Alt Cryptocurrency
The best potential to make some exponential gains will likely come from investing in altcoins. There is thousands of alt crypto that you can purchase but to make things easier we’re going to focus on how to buy Ripple cryptocurrency.
When you’re investing in alternative cryptocurrency the best strategy is to focus on the top one
So, how can I buy XRP cryptocurrency?
Note* You can apply the same rules and learn how to buy penny cryptocurrency.
Step #1: Buy Bitcoin with Credit Card
In order to be able to buy altcoins you first need to buy Bitcoins, Ethereum or in some cases Litecoin. This is the first step one has to take to transition from the fiat money to the digital world.
Usually, the majority of altcoins are paired against Bitcoins. So, you need to buy Bitcoins before learning how to buy alt cryptocurrency.
You already learned how to buy cryptocurrency with USD so simply skip to the next step.
Step #2: Find an Exchange were Ripple is listed
The second step is to find an exchange were Ripple or your chosen altcoin is listed. The altcoins exchanges you can use are Binance, Bitstamps or Bittrex.
Once you sign up with your favorite altcoins exchange, you will need to send your Bitcoins so you can then buy altcoins with it.
See below how to transfer your Bitcoins from Coinbase to Binance:
Step #3: Transfer your Bitcoins from Coinbase to Binance
In your Binance account simply go to your “Account” tab and hit the transfer.
Copy your wallet address and head back to your Coinbase account. Click on account and type in the wallet address given above from Binance exchange and transfer the desired amount of Bitcoins to your Binance wallet.
Click the “Send” button where it will ask you to type in a BTC wallet address.
You have to be patient because the bitcoin transfer can take anywhere between a few minutes or a few hours to go through. The delays can be caused by the current speed of the blockchain and how congested is the network.
Once the Bitcoins will show up in your Binance account you’ll be ready to buy your Ripple.
Step #4: Make the Transaction
The last step on how to buy your alt cryptocurrency is to simply click inside the Binance exchange the coin you want to buy.
For example, if you want to learn how to buy NEO cryptocurrency or any other alt coin just follow the same rules and you’ll get hold of your favorite coin.
For security reasons, once you got your alt coin you’ll need to get them off the exchange. You really have three options to choose from:
- A hardware wallet or cold storage such as the Ledger Nano S or Trezor
- A software wallet
- And a paper wallet.
Conclusion – How to Buy Cryptocurrency
Buying bitcoin with a debit card on a decentralized exchange is the easiest way on how to buy cryptocurrency with USD. If you failed to take advantage of the rise of cryptocurrency to popularity, there is still time to ride the next surge in price.
Cryptocurrency is the future of money and even though you’ve learned how to buy alt cryptocurrency, bear in mind that the blockchain technology has its own sets of risks. Make sure you manage risk properly and only play with money you can afford to lose.
Buying cryptocurrency has become very easy nowadays, but one of the most important factors you need to consider is what coins to buy and what crypto exchange to use.
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