Bitcoin has become a real deal & many of netizens are yet to purchase their first bitcoin. In this guide, I will share every step you need to follow to Purchase your first bitcoin.
At the time of writing this guide, the Value of 1 Bitcoin is $8613.34. We are expecting the rate to reach $12000 by 2020 Q2. With the changing landscape of digital currency, it’s recommended to invest in Bitcoin at this time.
If you are paying attention to the Bitcoin industry, you would realize a lot of innovation is happening every day around Bitcoin. This cryptocurrency is now accepted as a preferred currency at many online stores.
For this guide, I’m showing you how to buy Bitcoin from Coinbase, which is a popular website to buy & sell Bitcoin. Coinbase is one of the most used websites in the USA, Europe, Singapore for Bitcoin purchases. They also offer a Bitcoin debit card which enables you to spend your crypto like fiat.
Unfortunately, it’s not available in all the countries of the world at this moment. If your country is not allowed to purchase Bitcoins on CoinBase, do comment and I will help you to find something appropriate for you.
Apart from Bitcoin, you can also buy Ethereum, Litecoin, DAI, USDC, BAT, Tezos on CoinBase.
Beginners Guide to Buy Your First Bitcoin in the next 30 minutes:
Coinbase is the best website to buy Bitcoin. Users here are required to verify the identity. One more thing that makes Coinbase popular is apart from Bitcoin; you can also use it for Ethereum and other supported coins.
I will talk more about Coinbase features in an upcoming review, but to cut a long story short, it’s an reliable website.
With over 30 million users, this is one of the largest Bitcoin exchange on the planet.
Now, I will spare you the details & will show you all the steps to purchase the first Bitcoin. With the below link when you sign up and buy $100 of bitcoin or more, you’ll also earn $10 of free bitcoin!
- Head over to Coinbase & create your free account
- The second step is to verify your email address. Open your Email, inbox you will see a verification email from Coinbase. Click on the link to complete the steps. Once verified, you can log in to your Coinbase account & the very first screen will be your dashboard as the screen shown below. ( The UI may change over the time)
- Before we start making the transaction, lets first complete the profile. This shouldn’t take more than 4-5 minutes. Click on your profile at top right & go to settings.
- The first thing you should enable is 2 step authentication. This will increase your account security to the great extent.
Go back to the Bitcoin dashboard & click on Buy & sell.
You need to verify your identity by either uploading your scanned copy or by using your Laptop camera. All you need to do is hold your ID (Passport, Driving license or any other Government approved ID) & your ID will be verified automatically online. This service is powered by Netverify by Jumio.
Select the ID that you want to use & follow the instructions to verify your ID.
Once your verification is done, you will be able to start buying & selling Bitcoin. The steps from here onwards are pretty simple & anyone who has ever made a transaction online should be able to complete the steps from here.
If you are in the United States, Europe, UK, Singapore, you should be able to purchase Bitcoin instantly using a Credit card.
Do let me know if you are stuck at any step while purchasing your first ever Bitcoin.
If you find this tutorial useful, do share it with your friends on Facebook, Twitter & Reddit.
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An award-winning blogger with a track record of 10+ years. He has a background in both finance and technology and holds professional qualifications in Information technology.
An international speaker and author who loves blockchain and crypto world.
After discovering about decentralized finance and with his background of Information technology, he made his mission to help others learn and get started with it via CoinSutra.
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