This article will cover how to buy Bitcoin the easy way. It’s a beginners guide with screenshots included.
For this tutorial, we use the Binance exchange to buy our cryptocurrency.
Disclaimer. This article is informational. It is not trading advice. Make your own decisions when trading or buying cryptocurrency.
Binance registration
This step is pretty much straightforward. Navigate to Binance.com or if you are in the US, Binance.US.
STEP 1. Click on register as shown in the screenshot below.
STEP 2. Fill in your e-mail and password.
STEP 3. Once you have completed the above steps, an e-mail will be sent to the e-mail you provided in step 2. Click on the link in the e-mail from Binance to verify your account.
*You should now be able to deposit funds to buy cryptocurrency. Some users will also have to fill out additional Know Your Customer (KYC) information and two-factor authentication.
Deposit Funds
There are a number of ways to deposit funds on Binance. In this case, will choose the credit/debit card option.
STEP 1. Hover the mouse cursor over the Buy Crypto link in the upper left corner as shown in the picture below. Click on Credit/Debit Card.
STEP 2. You will now enter the amount you want to invest. In my case, I have chosen the lowest possible amount, which is 15 USD.
As you see from the screenshot below, you can choose another (FIAT) currency and you can also choose to buy a different cryptocurrency than Bitcoin.
To do that, click on the Bitcoin icon and you will have a list of cryptocurrencies to choose from.
STEP 3. After entering the amount you want to invest and clicking continue, you have to add a card. Click on the Add new card button.
STEP 4. Standard procedure. Fill in your card details. Name, Card number, Expiry date and CVV.
STEP 5. This is the last bit in the card information details section. Enter your personal information: Country, Adress, City and Postal Code.
STEP 6. Verify the amount you want to purchase and click Continue.
STEP 7. Validate the information you have entered one last time. You have 60 seconds to complete the order. If you do not click on Confirm, the button will change to Refresh and you can click confirm again.
*Please take note of the fee you have to pay. In my case, it is 0.31 USD which is 2.07%.
STEP 8. After clicking confirm you will be redirected to your bank where you have to approve the transaction as you would with any other online purchase.
Once you approve the transaction you will see the purchase confirmation as shown in the image below.
Thats it! You have now bought your (first) cryptocurrency. To view your crypto, click on the wallet in the upper right then click Fiat and Spot.
There are a few things to keep in mind after buying cryptocurrency. Your funds are now in a wallet on Binance. Even though Binance has a solid reputation it is recommended that you transfer your funds to a cold wallet which means that you, and only you are in control of your funds.
See this link for more information about Bitcoin cold wallets.
See this wallet tutorial on how to transfer your crypto away from the exchange and take control of your own funds.
