How to buy bitcoin the easy way

Despite receiving significant attention in the financial and investment world, many people today do not know how to buy cryptocurrencies such as Bitcoin—but doing so can be as simple as signing up for a mobile app.

With cryptocurrency back in the news, now is as a good time as ever to delve into the weeds and learn more about how to invest.   Here’s a breakdown of everything you need to know in order to start buying bitcoin.

Key Takeaways

• To buy bitcoin, the first step is to download a bitcoin wallet, which is where your bitcoins will be stored for future spending or trading.
• Traditional payment methods such as a credit card, bank transfer (ACH), or debit cards will allow you to buy bitcoins on exchanges that you can then send to your wallet.
• Most U.S.-sanctioned bitcoin platforms will require you to provide photo I.D. and other information to make sure you don’t break money laundering laws, or try to cheat on taxes.
• Bitcoin is still a new asset class that continues to experience a great deal of price volatility, and its legal and tax status also remains questionable in the U.S. and abroad.

Steps to Buy Bitcoin

1. Digital Wallet

In order to conduct transactions on the bitcoin network, participants need to run a program called a “wallet.”   Bitcoins are not technically “coins” in the traditional sense, so it only seems right that a bitcoin wallet would not actually be a wallet. Your Bitcoin wallet that you will be assigned by an app or service provider is essentially an alpha-numeric string of random letters and numbers—but you can think of this Bitcoin “address” as your “bank account number.”

Bitcoin balances are maintained using public and private “keys,” which are the names for these long strings of numbers and letters linked through the mathematical encryption algorithm used to create them.

The public key represents your “bank account number,” and is the location where transactions are deposited to and withdrawn from. This is also the key that appears on the blockchain ledger as a user’s digital signature, not unlike a username on a social media newsfeed. The private key is the password required to buy, sell, and trade the bitcoin in a wallet.   A private key should be a guarded secret and only used to authorize Bitcoin transmissions. Some users protect their private keys by encrypting a wallet with a strong password and, in some cases, by choosing the cold storage option; that is, storing the wallet offline.  

Note that there are several different ways to maintain a Bitcoin wallet and the private keys associated with them. A hosted wallet service, such as Coinbase or Blockchain.info, will provide you with web or app access and act as custodian of your private keys. If you lose your account log-in information or password, you can use that service to reset your password and get back in.

However, with such a wallet you do not actually control your private keys, and may not even be able to access them in some cases. If you download a standalone wallet on your PC or mobile device, you will fully control your private keys, but if you forget your password or lose your private keys, your bitcoins are lost forever. Thus, there is a trade-off between privacy and security and being able to recover your coins if you are forgetful.

A Bitcoin wallet should not be used for long-term storage. Bitcoin or its key should be stored in a secure wallet, such as one that uses a multi-signature facility for security.

2. Personal Documents

The U.S. Securities and Exchange Commission requires users to verify their identities when registering for digital wallets as part of its Anti-Money Laundering Policy.     In order to buy and sell bitcoin, you will need to verify your identity using several personal documents including your driver’s license and Social Security number (SSN).

3. Secure Internet Connection

If you choose to trade bitcoin online, use discretion about when and where you access your digital wallet. Trading bitcoin on an insecure or public wifi network is not recommended and may make you more susceptible to attacks from hackers.

4. Bank Account, Debit Card, or Credit Card

Once you have a bitcoin wallet, you can use a traditional payment method such as a credit card, bank transfer (ACH), or debit card to buy bitcoins on a bitcoin exchange.   The bitcoins are then transferred to your wallet. The availability of the above payment methods is subject to the area of jurisdiction and exchange chosen.

Below is a screenshot of the bitcoin interface on Coinbase showing how to buy and sell bitcoin and also Bitcoin Cash, Ethereum, and Litecoin​, which are other popular virtual currencies. The user clicks the “Buy” tab to buy digital currency and the “Sell” tab to sell digital currency. You select which currency you are buying or selling and which payment method (your bank account or credit card) you want to use.

Depending upon the exchange, there may be benefits and disadvantages to paying with cash, credit or debit card, or bank account transfer. For instance, while credit and debit cards are among the most user-friendly methods of payment, they tend to require identification and may also impose higher fees than other methods. Bank transfers, on the other hand, typically have low fees, but they may take longer than other payment methods.  

5. Bitcoin Exchange

After you’ve set up your wallet with a payment method, you’ll need a place to actually buy bitcoin. Users can buy bitcoin and other cryptocurrencies from online marketplaces called “exchanges,” similar to the platforms that traders use to buy stock. Exchanges connect you directly to the bitcoin marketplace, where you can exchange traditional currencies for bitcoin.  

If you’re one of the many people looking to get into bitcoin for the first time, it doesn’t have to be hard. There are more than a few easy routes to acquiring cryptocurrency and this article aims to outline five of them. By way of these simple avenues for purchasing bitcoin you can be stacking and spending satoshis in no time.

Getting Into Bitcoin

As the crypto market is alive with gains recently, renewed interest in bitcoin has taken hold yet again. For those new to crypto, the first step can be the hardest: simply “getting in.” While there is definitely a learning curve to some aspects of crypto, buying, storing and using bitcoin doesn’t need to be complicated. Below we’ll cover five easy ways to buy bitcoin. Before moving forward, though, it’s important to know what kind of bitcoin you want to buy. Information on the difference between bitcoin cash (BCH) and bitcoin core (BTC) can be found here.

Face to Face

One of the more rewarding, direct, and private ways to buy bitcoin is through a direct transaction with a seller. This could be a trusted friend or acquaintance living nearby, or someone at a bitcoin meetup looking to sell crypto for cash. Local bitcoin meetups are great places to connect with other crypto enthusiasts, and often members like to trade while in attendance. If this is the route you choose to take, be sure to learn about some best practices and tips for safe trading in person, first.

Use a P2P Trading Platform

Another way to buy directly is to connect with a seller via a peer-to-peer platform like local.Bitcoin.com where buyers can select a variety of payment methods including Paypal, bank transfer, and cash-in-person. You can even trade goods for crypto via the site. Each user has different offers and charges different rates, so be sure to choose a seller with a good reputation, fair price, and history of completed trades.

Local.bitcoin.com focuses exclusively on bitcoin cash (BCH), but there are other platforms that provide similar peer-to-peer services for buying bitcoin core (BTC), like Localbitcoins. Each platform for buying crypto peer-to-peer requires different amounts of identification to make a trade. For example, local.Bitcoin.com only requires an email address and is extremely private, while other platforms can require extensive details via their know your customer (KYC) and anti-money laundering (AML) policies.

Use a Credit Card

A very easy way to buy some bitcoin is to use a credit card. This can be done at buy.Bitcoin.com, and users can choose to purchase either bitcoin cash or bitcoin core.

Once you click the buy button, there’s a prompt to enter a bitcoin wallet address. For users without a bitcoin wallet, there are instructions linked via the “Need a wallet?” option that can provide assistance in downloading one for free. Though this buy option charges a set service fee, the trade-off is that it’s very convenient and quick. Also, all that is required is an email address.

Use a Bitcoin ATM

Bitcoin ATMs are popping up all over the place and provide a convenient means for investing in cryptocurrencies. Due to applicable regulations, this option is typically not as private as a direct, peer-to-peer trade, but for buyers comfortable with sharing some personal information, these machines can provide an easy on-ramp to the world of crypto.

The site Coinatmradar site is a good resource for locating a machine near you. Users can select their location, the type of crypto they wish to buy or sell, and find an ATM nearby. The service also provides info on the individual ATMs submitted by providers and users regarding the machine’s current status. For buyers in California, U.S., many popular Coinstar kiosks now feature a bitcoin buy option as well.

Buy Bitcoin on an Exchange

An established and reputable cryptocurrency exchange can be a relatively simple and convenient way to buy bitcoin with credit card or via bank account. As with peer-to-peer trading platforms, each exchange will have different KYC/AML requirements, fees, capabilities and special offers, so it’s important to research any potential choice carefully before making a decision.

Crypto exchanges for beginners which are very popular include Binance, Coinbase, and Kraken. Bitcoin.com now also has its own crypto exchange. Mainstream exchanges usually provide the option to buy bitcoin with a credit card or through bank account deposit.

An important thing to note about exchanges, however, is that if your bitcoin is stored custodially (meaning you don’t have the private keys) and the exchange is hacked or experiences problems, you may lose your money. This is why it is advisable to move funds to a private, non-custodial wallet as soon as possible after purchasing bitcoin, and to only keep the bare minimum of what’s needed to transact on a centrally managed exchange.

What is your preferred method for buying bitcoin? Let us know in the comments section below.

Disclaimer: This article is for informational purposes only. It is not an offer or solicitation of an offer to buy or sell, or a recommendation, endorsement, or sponsorship of any products, services, or companies. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Images courtesy of Shutterstock, fair use.

Did you know you can verify any unconfirmed Bitcoin transaction with our Bitcoin Block Explorer tool? Simply complete a Bitcoin address search to view it on the blockchain. Plus, visit our Bitcoin Charts to see what’s happening in the industry.

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Станьте владельцем Bitcoin всего за несколько минут

Начать – это быстро, безопасно и предназначено для защиты вашей персональной информации.

Чтобы предотвратить кражу личных данных или мошенничество, вам понадобится удостоверение личности с фотографией, чтобы мы могли убедиться, что это действительно вы.

Начните с всего лишь 25 ₽, и вы можете оплатить с помощью дебетовой карты или банковского счета.

Компания Coinbase находится в Сан-Франциско. Нам доверяют более 30 миллионов клиентов по всему миру.

Можно купить часть Bitcoin. Чтобы начать нужно всего лишь 25 долларов США.

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Что можно сделать с биткоином?

Многие клиенты удерживают Bitcoin в надежде, что стоимость актива возрастет. Вы можете хранить свои биткойны на счете в системе Coinbase или перевести их на личный кошелек. Узнайте цену BTC.

Продать криптовалюту на Coinbase очень просто, и вы можете перевести доходы на свой счет в банке или PayPal.

Хотите владеть другой криптовалютой? Конвертируйте любую часть своего остатка в Биткойнах в другую криптовалюту.

Используйте Биткойн для оплаты проезда, покупки подарочных карт, питания в ресторанах и многого другого. Количество мест, принимающих Биткойны, растет с каждым днем.

В отличие от отправки денег за границу, вы можете отправить биткоины любому человеку в мире практически мгновенно.

Пожертвуйте Bitcoin нуждающимся людям на таких сайтах, как GiveCrypto.org, который распространяет криптовалюту среди бедных людей.

Для начала необходимо всего лишь 25 ₽. Производите оплату с банковского счета или дебетовой картой.

Despite receiving significant attention in the financial and investment world, many people today do not know how to buy cryptocurrencies such as Bitcoin—but doing so can be as simple as signing up for a mobile app.

With cryptocurrency back in the news, now is as a good time as ever to delve into the weeds and learn more about how to invest.   Here’s a breakdown of everything you need to know in order to start buying bitcoin.

Key Takeaways

• To buy bitcoin, the first step is to download a bitcoin wallet, which is where your bitcoins will be stored for future spending or trading.
• Traditional payment methods such as a credit card, bank transfer (ACH), or debit cards will allow you to buy bitcoins on exchanges that you can then send to your wallet.
• Most U.S.-sanctioned bitcoin platforms will require you to provide photo I.D. and other information to make sure you don’t break money laundering laws, or try to cheat on taxes.
• Bitcoin is still a new asset class that continues to experience a great deal of price volatility, and its legal and tax status also remains questionable in the U.S. and abroad.

Steps to Buy Bitcoin

1. Digital Wallet

In order to conduct transactions on the bitcoin network, participants need to run a program called a “wallet.”   Bitcoins are not technically “coins” in the traditional sense, so it only seems right that a bitcoin wallet would not actually be a wallet. Your Bitcoin wallet that you will be assigned by an app or service provider is essentially an alpha-numeric string of random letters and numbers—but you can think of this Bitcoin “address” as your “bank account number.”

Bitcoin balances are maintained using public and private “keys,” which are the names for these long strings of numbers and letters linked through the mathematical encryption algorithm used to create them.

The public key represents your “bank account number,” and is the location where transactions are deposited to and withdrawn from. This is also the key that appears on the blockchain ledger as a user’s digital signature, not unlike a username on a social media newsfeed. The private key is the password required to buy, sell, and trade the bitcoin in a wallet.   A private key should be a guarded secret and only used to authorize Bitcoin transmissions. Some users protect their private keys by encrypting a wallet with a strong password and, in some cases, by choosing the cold storage option; that is, storing the wallet offline.  

Note that there are several different ways to maintain a Bitcoin wallet and the private keys associated with them. A hosted wallet service, such as Coinbase or Blockchain.info, will provide you with web or app access and act as custodian of your private keys. If you lose your account log-in information or password, you can use that service to reset your password and get back in.

However, with such a wallet you do not actually control your private keys, and may not even be able to access them in some cases. If you download a standalone wallet on your PC or mobile device, you will fully control your private keys, but if you forget your password or lose your private keys, your bitcoins are lost forever. Thus, there is a trade-off between privacy and security and being able to recover your coins if you are forgetful.

A Bitcoin wallet should not be used for long-term storage. Bitcoin or its key should be stored in a secure wallet, such as one that uses a multi-signature facility for security.

2. Personal Documents

The U.S. Securities and Exchange Commission requires users to verify their identities when registering for digital wallets as part of its Anti-Money Laundering Policy.     In order to buy and sell bitcoin, you will need to verify your identity using several personal documents including your driver’s license and Social Security number (SSN).

3. Secure Internet Connection

If you choose to trade bitcoin online, use discretion about when and where you access your digital wallet. Trading bitcoin on an insecure or public wifi network is not recommended and may make you more susceptible to attacks from hackers.

4. Bank Account, Debit Card, or Credit Card

Once you have a bitcoin wallet, you can use a traditional payment method such as a credit card, bank transfer (ACH), or debit card to buy bitcoins on a bitcoin exchange.   The bitcoins are then transferred to your wallet. The availability of the above payment methods is subject to the area of jurisdiction and exchange chosen.

Below is a screenshot of the bitcoin interface on Coinbase showing how to buy and sell bitcoin and also Bitcoin Cash, Ethereum, and Litecoin​, which are other popular virtual currencies. The user clicks the “Buy” tab to buy digital currency and the “Sell” tab to sell digital currency. You select which currency you are buying or selling and which payment method (your bank account or credit card) you want to use.

Depending upon the exchange, there may be benefits and disadvantages to paying with cash, credit or debit card, or bank account transfer. For instance, while credit and debit cards are among the most user-friendly methods of payment, they tend to require identification and may also impose higher fees than other methods. Bank transfers, on the other hand, typically have low fees, but they may take longer than other payment methods.  

5. Bitcoin Exchange

After you’ve set up your wallet with a payment method, you’ll need a place to actually buy bitcoin. Users can buy bitcoin and other cryptocurrencies from online marketplaces called “exchanges,” similar to the platforms that traders use to buy stock. Exchanges connect you directly to the bitcoin marketplace, where you can exchange traditional currencies for bitcoin.  

Buying bitcoin is a simple process when you know what to do

Carlo A / Getty Images

Cryptocurrency is digital money that is easy to use for payments and other financial transactions. Bitcoin was the first cryptocurrency, introduced in 2009. Today, there are more than 7,500 cryptocurrencies but Bitcoin is by far the most popular with about 63% of the market share.  

What You Need to Buy Bitcoin

You’ll need some form of a digital wallet to buy Bitcoin. A digital wallet works like a checking account for cryptocurrency like Bitcoin. You use it to make deposits, withdrawals, and payments. Digital wallets have a public security key (sometimes used interchangeably with “address,” though they’re slightly different) which works like a checking account number—it’s the destination for your bitcoin transactions. And when you’re ready to make those transactions, your wallet has a private security key that works like a PIN—it’s unique to you and gives you access to your bitcoin.

Just like there are different types of checking accounts, there are different types of wallets for cryptocurrency:

• Desktop digital wallets store security keys on your personal computer and can only be used from that device. They have different features for security. A couple of popular desktop wallets are Coinbase and Exodus.
• Mobile digital wallets can be used from any mobile device (like your smartphone or tablet) and the security keys are online. Two popular mobile digital wallets are Robinhood and SoFi Invest.
• Paper wallets use a printed QR code as the private security key. Paper wallets are easy to control and secure. If you lose your QR code or accidentally destroy it, however, you can’t recover it and you lose access to your bitcoin.
• Hardware wallets are USB devices that store transactions and security key information. Hardware wallets like Trezor and Ledger can help you send and receive bitcoin in secure ways.

Wallets allow you to store bitcoin as well as send and receive the currency from anyone in the world.

Some crypto exchanges offer wallets, but you can also use them without a wallet. If you choose the latter, the exchange manages your private keys for you to facilitate transactions.

It is very important to keep your private key secure because anyone who has access to it can access your bitcoin.

How to Buy Bitcoin With Cash or a Credit Card

Whether you have a digital wallet or not, you can buy and sell Bitcoin through a cryptocurrency exchange. Cryptocurrency exchanges facilitate Bitcoin and other transactions between buyers and sellers, just like a stock exchange does. For example, current prices and transactions are posted continuously just like with stock trading.

When you open an account with an exchange, the process is similar to opening a bank account. You’ll have to provide personal information and identification. You’ll also need to link a credit card or checking account to pay for your purchases.

When your purchase of Bitcoin is complete, the exchange deposits your bitcoin into your wallet. Exchanges like Coinbase automate the use of keys and addresses; you don’t have to do anything but tell the exchange how much bitcoin you want to buy or sell.

There are hundreds of exchanges to choose from. Some exchanges are built for active traders and others are better for beginners. If you’re buying Bitcoin for the first time, Binance and Coinbase offer education and all of the tools that you need to get started.

Exchanges charge commissions—transaction fees for credit cards, debit cards, and bank transfers—as well as markups on Bitcoin to U.S. dollar conversions. For example, Coinbase charges between $0.99 and $2.99 depending on the size of the transaction. These charges can add up pretty quickly, so be sure you understand them.  

How to Buy Bitcoin at a Crypto ATM

Cryptocurrency ATMs can be used to purchase small amounts of Bitcoin with cash, credit, or debit cards. Crypto ATMs are available in many major cities and many other locations. The process is very simple.

The machine asks you to provide the key to your digital wallet; you’ll most likely provide a QR code your wallet generates. Select how much Bitcoin you would like to purchase, and load the cash into the machine. If you don’t have a digital wallet, the ATM likely has the ability to create a paper wallet for you on the spot.

Most crypto ATM providers don’t require personal identification for smaller transactions. Coinflip ATMs, for example, will require you to provide a state-issued ID for all transactions of $901 or more. While crypto ATMs are very convenient, they can be expensive. Crypto ATMs charge transaction fees and they don’t necessarily have competitive exchange rates.  

Once you’ve bought Bitcoin, you can keep it as an investment or use it to buy products like you would with cash or a credit card. Several retailers, such as Overstock.com, GameStop, and Nordstrom now accept Bitcoin as a form of payment.

How to Keep Your Bitcoin Secure

Your bitcoin may be stored digitally and requires a private key to authenticate transactions, but it is still vulnerable to hackers and thieves. Consider these steps to protect yourself:

• Always make sure your transactions are completed on secure networks and devices.
• Consider using virus software and a VPN, which make it harder for hackers to break in.
• Use strong passwords for your accounts and change them often.
• Consider using offline wallets like paper and hardware wallets.
• Be on the lookout for email phishing scams.
• Backup your wallet.

The Best Way to Buy Bitcoin

The best way to buy bitcoin depends on what you want to accomplish. If you are just getting started, a mobile digital wallet and ATMs are a great way to handle small purchases and conversions to cash.

If you’re planning on larger transactions, or want to hold Bitcoin for investment purposes, online may be a better way to go for lower fees, better exchange rates, and tighter security. However, you should also consider keeping bitcoin on offline wallets in the same way you’d keep $100,000 in the bank instead of your pocket.

While Bitcoin and other cryptocurrencies have become more popular, remember that there are no current fraud protections like there are for credit cards and bank accounts. Whether you are a beginner or an experienced investor, security should be a top concern.

Key Takeaways

• You can buy Bitcoin using a credit card, bank account transfer, debit card, or cash.
• Mobile digital wallets and ATMs are an easy way for beginners to buy Bitcoin.
• Always protect your private security key.
• Make sure you understand all of the fees and markups that come with buying Bitcoin and other cryptocurrencies.

The Balance does not provide tax, investment, or financial services and advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors. Past performance is not indicative of future results. Investing involves risk including the possible loss of principal.

Today, Bitcoin becomes more popular than the other cryptocurrency. Yeah, the existence of Bitcoin makes many people use this to make more wealth. However, how do you make the bitcoin? What is the fastest way to buy Bitcoin? We will guide you to find the easiest and fastest ways in buying the Bitcoin.

Buying the Bitcoin is available by using the credit card, debit, gift card, cash, or other. Some exchanger or brokers of Bitcoins are also available in the world. However, each broker has their plus and minus. Here, we offer the fastest way to buy Bitcoin instantly in the trusted exchange.

Coinbase: Buying Bitcoin Quickly Less 5 Minutes
Here will be the Coinbase that lets you buy the Bitcoin less than 5 minutes. The first step is creating an account in the Coinbase. You need to upload the personal details and scan of the ID. After creating the account, navigating to the account setting is needed. Click the name of you and then click the setting. You should choose the “Payment Methods” and then click the “Add Payment Method”.

Now, you must click the “Debit/Credit Card” because CoinBase let you buy bitcoins with a credit card. After this step, you need to enter the credit or debit card information. This Coinbase will only accept the MasterCard and Visa debit or credit in this time. This is the step for confirmation. Of course, now you can buy the Bitcoin easily and quickly.

Fast Purchasing in BitPanda with Low Fees
BitPanda is one of the Bitcoin brokers in the world. If you want to buy the Bitcoin in the fastest way, this Bitpanda is the best choice. BitPanda is one of the fastest Bitcoin brokers in the world, located in Austria. It is available to purchase the Bitcoin using debit or credit card in this BitPanda with 3-4%.

Yeah, the fees in the BitPanda are low; therefore, it is very appropriate for you saving the worth. Actually, the fees will not be published publically. It will be only publicized in your price display when purchasing. Besides the low fee and fast way, BitPanda is a trusted and reliable broker in the world. You can also get the high limits of purchasing the Bitcoin.

CoinMama: Fastest, Easy, and Trusted
How is about purchasing the Bitcoin through CoinMama? CoinMama is also considered as the fast Bitcoin broker specialized with credit or debit cards. The process of buying is very fast with simple ways or steps. This is also a trusted broker that lead you to buy easily.

Additionally, this CoinMama can work in most countries in the world. You can also get high limits buying in CoinMama with the credit card. Of course, this reliable broker you can set for the easy and fast process. However, the fees are rather high around 6%. This is the fastest way to buy Bitcoin you can prefer to choose.

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Accept virtual currency payments

Coinify offers cutting-edge and compliant virtual currency payments for businesses of all sizes

Buy and sell virtual currencies on myCoinify

myCoinify is a safe, secure and smart platform for individual traders to buy and sell virtual currencies.

How to Buy Bitcoin with Credit Card

Coinify offers the easiest and fastest way for you to buy bitcoin with credit card. In just a few simple steps, you will have bitcoin in your possession – executed in a user-friendly and secure platform. Whether you are a first-time buyer or a seasoned investor, we at Coinify are here to make the process of buying bitcoin easy.

Why should you buy bitcoin with credit card from Coinify?

Compared to most cryptocurrency trading platforms or exchanges, buying bitcoin with credit card from Coinify is relatively easy with a fuss-free purchasing experience and a dedicated customer support team ready to help you every step of the way.

Honesty

We promise honest rates and no hidden fees. You can find details of our fees on our pricing page and we guarantee the exchange rate of the currency for 15 minutes. When buying bitcoin with credit card, the transaction fee for the bitcoin transfers will be automatically calculated for your order and you can always view and confirm the price before purchase.

Security

We use a state-of-the-art fraud detection software that utilises powerful machine learning to remove risk and provide our users with the safest transactions possible. We also adhere to strong compliance and AML standards to meet regulatory demands to build a strong and trustworthy service.

Advocacy

We are advocates of the virtual currency ecosystem – we know that bitcoin and other virtual currencies are the future; all it takes is some solidification of the infrastructure to bring more awareness and usability to the concept. This is why we are building a service to support this infrastructure for you to buy bitcoins with credit card with ease.

Support

We have a strong customer support team ready to help you through the whole process of buying bitcoins with credit card. We believe in creating relationships with our customers and in building a strong community around virtual currencies, so we are always ready to provide the insight and guidance people need throughout the buying process. Submit a support ticket, or chat with us via our messenger support – we’re ready to lend a hand.

Check out the current price of bitcoin

Don’t want to buy bitcoin with credit card? You also have the option to buy bitcoin with a bank transfer instead.

How to buy bitcoin instantly with credit card

1. Create a Coinify Buy and Sell account in just a few basic steps.
2. Select “Credit / Debit Card” as your preferred payment method
3. Start purchasing bitcoin!

Before you buy bitcoins, you’ll need a wallet

Once you buy bitcoins with credit card, you will need a place to store it in – this is called a bitcoin wallet. This wallet will be the one in which you will send, receive and keep track of your bitcoin transactions. There is a myriad of bitcoin wallets out there so selecting one that suits your needs will be the best. With Coinify, you can use any wallet you prefer but if you don’t have a wallet beforehand, here are some we recommend:

Please always remember to enter your own wallet address in the payment flow, and ensure that it is the correct address. Any bitcoins you buy through us will be sent to the wallet address you provide and transactions are irreversible.

Buy bitcoin with credit card – Instantly

Coinify guarantees a seamless and safe way for you to buy bitcoin with credit card. Bitcoin purchases are instantaneous and provided at a low fee. Our buy and sell service allows anyone to purchase bitcoin, ensuring the security and credibility of the purchase by operating on 3 trade levels, each with its own limits and requirements to upgrade the account. Level 1 is the initial level and all new traders start at this level.

We accept the widely-used Visa and Mastercard credit cards. When buying bitcoin with your credit card for the first time, you will be asked to enter your card payment details. If you have already bought bitcoin with us before, your credit card information will be saved for your next purchase and you will only be required to enter your CVV code for confirmation the next time you buy with us.

If you have any questions, please do not hesitate to contact our dedicated customer support team either by submitting a ticket or sending a query via our messenger support. We are ready to assist you.

Why should you buy bitcoin?

Bitcoin is the world’s first decentralised cryptocurrency based on blockchain technology- and it is also undoubtedly the most popular cryptocurrency. It was launched in 2009 by the anonymous Satoshi Nakamoto and was intended to be a low-cost medium of exchange that bypassed centralised financial middlemen. Bitcoin’s popularity grew slowly until 2017 where the use of the cryptocurrency boomed, with record-breaking trading volumes and meteoric price rises.

The boom has died down, but bitcoin’s relevance as a payment method certainly has not. With lower prices comes more viable purchasing opportunities. Bitcoin technology has also been advancing with improvements like the Lightning Network, that allows for faster and more cost-effective transactions, resolving the problem of scalability that has plagued bitcoin since its boom in 2017. The future is promising for bitcoin and as the technology improves, so does it’s potential for becoming an alternative to existing payment systems.

Numerous financial experts, however, are urging people not to get involved at all

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The value of bitcoin appears to be on the rise again, after it fell by almost $9,000 in a matter of days.

However, if you’re still curious and want to find out more, here’s how beginners can buy bitcoin.

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Gadget and tech news: In pictures

Gadget and tech news: In pictures

Gadget and tech news: In pictures

Gadget and tech news: In pictures

Gadget and tech news: In pictures

Gadget and tech news: In pictures

Gadget and tech news: In pictures

Gadget and tech news: In pictures

Gadget and tech news: In pictures

Gadget and tech news: In pictures

Gadget and tech news: In pictures

Gadget and tech news: In pictures

Gadget and tech news: In pictures

Gadget and tech news: In pictures

Gadget and tech news: In pictures

The easiest way to get involved is by signing up to a bitcoin wallet service. You can also “mine” bitcoin using a supercomputer – an unrealistic option for most people – or set up and control your own wallet, but using a third-party service is far simpler.

Some of the most popular options are Coinbase, Blockchain.info and Xapo, which you can use on both desktop and mobile.

You can sign up to these as you would sign up to any website. Enter your name and email address and set a password to get started.

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Be inspired with the latest lifestyle trends every week

After that, it’s time to connect your bank account, debit card or credit card.

Use two-factor authentication to secure your account, but don’t use your phone number or SMS for this. According to security researchers, criminals only need to know your name and number in order to steal from your bitcoin wallet.

Instead, use Google Authenticator or a security key, such as the YubiKey.

Once you’ve done this, you can start investing in bitcoin. Whichever service you decide to use, you’ll be able to access a graph showing how bitcoin’s value has changed over time. It’s likely to look extremely jagged.

With the value of bitcoin so high at the time of writing, it may come as a relief to hear that it is perfectly possible – and not at all unusual – to purchase small fractions of bitcoin.

Once you’ve established how much traditional money you’re willing to invest, complete your exchange through the wallet service, following their instructions.

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However, experts have repeatedly warned against getting involved. Not only is bitcoin extremely volatile, but investors in it and other cryptocurrencies are frequently targeted by criminals.

The best thing you can do to protect yourself is to always proceed with extreme caution.

Scammers constantly use phishing attacks to try to trick people into visiting malicious websites that look official, but aren’t.

They commonly send out fake but legitimate-looking emails, which you need to be wary of. To stay safe, you simply shouldn’t engage with them.

Don’t follow any links in the messages or enter any private details they ask you for. Instead, you should always make sure you’re on the right website or app.

People are also being duped by malicious websites promising quick profits and trading tips. Again, use common sense to protect yourself, and don’t take any unnecessary risks.

Bitcoin transactions are irreversible, so if any of the currency leaves your account, you won’t be able to get a refund. It’s also easy to lose bitcoin, and once it’s gone it can be tough to get back.

Bookmark your wallet service’s website if necessary.

Some services, such as Coinbase, allow to you set price alerts that tell you when the value of bitcoin has dipped below or climbed above specific figures.

When you decide it’s time to sell up, you can complete the transaction through the wallet service.

We’ve teamed up with cryptocurrency trading platform eToro. Click here to get the latest Bitcoin rates and start trading. Cryptocurrencies are a highly volatile unregulated investment product. No EU investor protection. 75% of retail investor accounts lose money when trading CFDs.

A step-by-step tutorial on how to buy any altcoin

Cryptocurrencies offer a wealth of ways to get involved in the market. At the time of writing, there are over 6,000 cryptocurrencies traded over 250 exchanges worldwide. New cryptocurrencies sprout every day as weaker cryptos lose favor and retire. The market is exploding. More and more investors, businesses, governments, and consumers are committing to the crypto gold rush.

As of September, BTC held over 70% of the total market cap of all cryptocurrencies. BTC is hugely popular, but it isn’t the only way to make money. Alternative coins, or ‘altcoins’ for short, are still a diverse and active part of the cryptocurrency market.

Getting Started with Altcoins

There are a ton of altcoins. These days, any tech-savvy programmer can whip up a white paper and an altcoin. Altcoins come in a staggering variety of flavors. Check out our blog post “Best Altcoins“, where we list our top 8 picks for 2020. How do you sift through the mounds of altcoins to find the hidden gem? This is no easy feat.

Part of what makes specific altcoins valuable – and enticing – is the function they offer beyond BTC. The market continues to experiment with different types of altcoins. Here are some of the popular altcoins by market cap.

Litecoin (LTC). Known as the silver to Bitcoin’s gold, LTC is an upgraded version of BTC. LTC has faster block processing speed, four times the supply of BTC, and a different hashing algorithm called Scrypt.

Ethereum (ETH). ETH is a very different crypto than BTC or LTC. Ethereum is a ledger technology that users can build programs (DApps) and smart contracts on. Like LTC, is also has a larger supply and faster block processing speed.

NEO (NEO). Similar to ETH, NEO is a platform that uses smart contracts and allows for DApps. However, this altcoin is backed by the Chinese government, uses a special proof-of-stake mechanism, and uses a special asset (NeoGas) to fuel its blockchain.

Ripple (XRP). XRP is primarily known as a digital payment network that hosts a cryptocurrency. The network is used for international money transfers. XRP is not mined and uses a different consensus mechanism than traditional cryptos like BTC.

How to Buy Altcoins: Step-by-Step

Buying many altcoins requires just a few steps beyond purchasing bitcoin. In this article, we recommend purchasing BTC and trading BTC for the desired altcoin. Many, if not most altcoins, should be paired with BTC on one of the exchanges. However, you don’t need to purchase cryptos through exchanges. Cryptos can be purchased either directly with another owner or over-the-counter (OTC). We recommend beginners use exchanges to protect from fraud.

Let’s get into the eight steps that will net you your shiny new altcoins.

Step 1: Determine the percentage of your crypto portfolio dedicated to altcoins

92% of blockchain projects have failed and had an average lifespan of 1.22 years. These are stark numbers. Altcoins are risky, but that doesn’t mean they aren’t worth investing in. It may be useful to divide your portfolio into risk layers, especially if you intend to speculate on uncommon or untried coins.

We strongly recommend you get a portfolio tracker to keep track of your coins.

Step 2: Research and find the best altcoin for you

There are many factors to consider when looking to purchase an altcoin. Do you want a reputable name? Should the altcoin be exclusively a cryptocurrency or can the altcoin live on a platform? This list can be endless, so look through the top altcoins, read up on different altcoin traits that appeal to you, and select a crypto.

A few important points to consider before committing:

• Is the official website still working and is the subreddit of the altcoin alive?
• Is there enough volume on at least one exchange to justify the purchase?
• Is the altcoin supported by the wallet you have or will you need a new cryptocurrency wallet?
• Can you actually make money on the crypto?

Step 3: Fiat money to digital money (or buy BTC)

Most altcoins can’t be purchased with USD. That means you’ll want to purchase Bitcoins and swap those for your preferred altcoin on the right exchange.

Some exchanges let you purchase BTC with a credit card directly on the exchange. This is an easy way to get started. It’s good to have a BTC wallet and a separate wallet for your altcoins (which we’ll cover later).

Make sure to check out our Coinbase alternatives articles where we review 7 different cryptocurrency exchanges.

Step 4: Choose an exchange

After purchasing BTC, you’ll need to find one or more exchanges that offer your altcoin. Coin.market hosts a list of the top currency exchanges, the “markets” or currency pairs these exchanges trade in, hourly trades, daily volume, and percent market share.

Unless you are a ninja cryptocurrency trader, steer clear of the less popular exchanges. More popular exchanges are more liquid. Higher liquidity means you’ll be able to buy altcoins quicker and closer to the market’s clearing price. Need a primer on liquidity?

Search the currency exchanges and do some research on exchanges that have your currency pair. Once you’ve settled on the best exchange, you’ll need to register.

Other important points to consider when selecting an exchange:

1. Are they reputable?
2. Have they been hacked before?
3. Are the fees and rates reasonable?

Step 5: Find the currency pair

After completing registration, you’ll want to move some of your BTC to the exchange. Remember, you’re trading in currency pairs, so the BTC will be exchanged for your altcoin.

Make sure to look at the currency pair and how it has traded over the past week or month. Crypto markets are far from perfect, so there may be an optimal time to make the trade.

Step 6: Trade BTC for your chosen altcoin

When you are ready to make the trade, you’ll go to the exchange and place an order for your altcoin. If this is your first time on an exchange take some time to understand how to how orders work. Here’s a video of a trader talking about NEO, forecasting the market, examining the BTC-NEO pair, and creating an order.

Step 7: Move the altcoins into a wallet

After the purchase is complete your precious altcoins will live on the exchange. If you are buying to hold, it is now time to move the cryptos off the exchange and into a wallet.

Crypto wallets are safe and come in two types. Hot wallets are those that are connected to the internet, and live on the internet, on your desktop, or on your mobile. Cold wallets are wallets that aren’t connected to the internet and include hardware wallets and paper. If you want maximum protection, buy a new hardware wallet.

Step 8: Dream of Lambos

Congratulations, you’ve successfully speculated on the future of money. Hopefully, your digital asset appreciates, and you become fantastically rich. Don’t forget about us when you do.

Whichever altcoin you decide to buy, make sure to track it via Crypto Pro — the most private crypto portfolio tracker.