What is the easiest way that you can buy yourself some precious bitcoin? While there are a variety of different ways in which you can acquire the cryptocurrency, Coinbase remains the simplest and easiest way to buy bitcoin. In order to purchase bitcoin and the other cryptocurrencies available on the Coinbase platform you’ll need a bank account at the bare minimum. You can purchase bitcoin using your bank account for cheaper fees but you’ll have to wait three days before you can transfer your funds off of the coinbase platform. You can use a debit card if you wish to move your funds after immediately but you’ll be stuck paying higher fees as a result. Here is the step-by-step guide to making your first bitcoin purchase through Coinbase.
- Sign up for Coinbase. You can use this link if you wish to sign up: https://www.coinbase.com/join/57167a216574735a18000257. This link we’ll give me $10 if you purchase your first $100 of bitcoin and you’ll get an extra $10 as well. If you don’t want to use my link feel free to just head over to Coinbase.com. Make sure you fill in all of your personal information and click on the confirmation e-mail they send you after you sign up.
- Confirm Your Identity. After you verify your e-mail you’ll be asked to provide identification in order to verify your identity. You may be required to upload your driver’s licence or passport in order for Coinbase to confirm who you are. You can also enter in other information such as your name, address, date of birth, and country. I would recommend setting up two-factor authorization as soon as you create your account. You can do this by going to Settings, then Security, and then verifying your phone number. You can then enable two-factor authorization right under where you entered your phone number.
- Connect Your Bank Account and Debit Card to Coinbase. In order to purchase bitcoin and other cryptocurrencies from Coinbase you’ll need to connect your bank account to Coinbase. The first time you add an account or card to your Coinbase account you’ll be met with a prompt to check your account. Coinbase will credit your account two small amounts in order to verify your account. You’ll then enter the values of what was credited to your account into the prompt to confirm your bank account so you can start buying and selling.
- Buy Your First Bitcoin The next step will be to actually buy your first piece of bitcoin. You’ll be able to buy and sell from the easy to use Coinbase interface. At first the limit on the amount of can buy will be low but can be increased over time by providing more information, regularly buying, and letting your account age.
Its really that easy! Now go and get involved in the world of cryptocurrency!