There are many ways to purchase cryptocurrencies, but you need to be aware that depending on how much you are purchasing and how you are paying, there could be substantial waiting times and costly fees.
For small amounts, Coinbase is a very popular option and I suggest that if you are just starting out, you check them out. For mobile users, you might want to consider CashApp. Imagine Venmo but better!
You can even get a Visa debit card with CashApp and use the App to convert crypto to cash, send and receive crypto and cash, and buy and sell cryptocurrencies and stocks!
First Time Purchasing? Here Are Your Simple Steps To Purchasing Crypto.
Step 1 - Buy Your Crypto
To purchase bitcoin or other cryptocurrencies, you will need to create an account at an exchange to facilitate the purchase of your cryptocurrency. Sometimes depending on the crypto you want to buy, you might need to create accounts on several exchanges. For Large purchases of Bitcoin, use Coinbase. For smaller amounts use CashApp.
Step 2 - What To Do With Your Crypto
If you plan on just holding your crypto long term, you can keep it on your exchange. You may also decide you want to hold your crypto instead of having the exchange hold it. In that case, you will need a wallet to store your cryptocurrency. I recommend the Exodus Wallet . You can install it on your desktop or your smartphone.
If you plan on purchasing and storing BEP2, ERC20 and ERC721, tokens, You might also consider getting the MetaMask Wallet and installing it on your browser.
Step 3 - Options for Purchasing your Crypto
Depending on the amount of crypto you want to purchase, you can use credit cards, debit cards, bank accounts or wire transfers. Credit card purchases are good for amounts of less than $1000 while wire transfers are suggested for amounts over $1000. You will need to provide the exchange with your wallet's public address so they can send you your cryptocurrency. you will also need to do KYC (know your customer) verification. You will need to provide DL number and address to verify your identity.
Need some Help? - Get a One on One Coaching call
Interested in getting some help with your first purchase? contact us. We offer one-on-one coaching calls that will walk you through all the steps needed to buy your first bitcoin or other cryptocurrencies.