BITCOIN FOR BEGINNERS: Step-by-step tutorial on how to buy Bitcoin. This crypto for beginners tutorial shows you how to buy Bitcoin within minutes in 5 simple steps. Plus top crypto exchanges, how to fund your account and protect your crypto investments.
How To Buy Bitcoin For Beginners
Hello, I’m Blooming Umoren. In today’s tutorial, I’m going to teach you how to buy Bitcoin. This is the part 2 tutorial in the crypto for beginners series. If you haven’t completed the steps in the part 1 tutorial “5 Things To Do Before Investing In Crypto“, ensure you do because I will be building on that lesson.
📚 READ: 5 THINGS TO DO BEFORE INVESTING IN CRYPTO ✅
If you have any question(s), leave them in the comments section below. Feel free to connect with me on Youtube, Facebook, Instagram or Twitter.
So let’s go straight into today’s tutorial:
Step 1: Choose A Crypto Exchange
To buy Bitcoin or crypto, you need to open an account online with one or more crypto exchanges.
What is a crypto exchange?
A crypto exchange is a platform where you can buy, sell or trade cryptocurrencies. The crypto marketplace is open 24/7 and you can buy, sell or trade Bitcoin or any crypto anytime, anywhere at your convenience.
CANADA: 🇨🇦
If you’re in Canada, here are the top 4 local crypto exchanges to open an account with.
- Beginner-friendly
- Buy & sell Bitcoin and Ethereum.
- Sign up & get $30 instantly once you buy Bitcoin or Ethereum worth $100 or more.
- Use promo code: MFZ0JPC
-
==>>YES, SIGN UP
- For both beginners & advanced traders.
- Over 30+ coins available
- Sign up & get $10 when you buy any crypto worth $100 or more.
-
==>> YES, SIGN UP
3. BITBUY:
- For beginners & advanced crypto traders.
- Over 25+ coins available
- Sign up & get $20 instantly once you deposit $250 or more.
- Use promo code: AXLRI246X
-
==>> YES, SIGN UP
4. NEWTON
- For beginners
- Over 75+ coins available
- Sign up & get $25 when you buy any crypto worth $100 or more.
- Use code: V9IAA3
-
==>> YES, SIGN UP
UNITED STATES: 🇺🇸
If you’re in the United States, here are the top 3 local crypto exchanges to open an account with.
REST OF THE WORLD: 🌐
Binance.com – This is the world’s largest crypto exchange.
- World’s largest crypto exchange
- Lowest trading fees
- Over 400+ coins
- For beginner, intermediate & advanced users
- Supports over 50+ fiat currencies plus CAD, USD, EURO, NGN and more!
-
==>> YES, SIGN UP
2. KUCOIN:
- Top global crypto exchange
- For beginner, intermediate & advanced users
- With 700+ coins
- Serves 200+ countries.
- Sign Up & Use code: rBPZSZE
-
==>> YES, SIGN UP
Alternatively, if I didn’t mention your country, do a simple google search e.g. *best bitcoin exchange *country*
Step 2: Verify crypto account 🪪
Once you open a crypto account, most crypto exchanges require account verification.
To verify your account, you’ll need to submit a government-issued photo ID.
Account verification can take up to 5 business days.
🎥 WATCH: HOW TO GET VERIFIED FAST: DOCUMENTS REQUIRED ▶️
Step 3: Fund Your Account
Next, you need to fund your crypto wallet by transferring money from your bank into your crypto wallet.
You can also fund your account by transferring crypto from one exchange to another.
🎥 WATCH: HOW TO FUND YOUR CRYPTO WALLET ▶️
If you’re in Canada, the best way to fund your account is via Interac or bank transfer.
When making transfers, it’s important to always include your unique reference code. That’s the only way the transfer will be matched to your account for deposit.
Step 4: Buy Bitcoin ₿
Next, once you’ve funded your crypto wallet, you’re ready to buy Bitcoin or any crypto of your choice.
🎥 WATCH: HOW TO BUY BITCOIN ▶️
Step 5: Transfer Bitcoin To Crypto Hardware Wallet 🔒
In the “5 Things To Do Before Investing In Crypto” tutorial, I explained why it’s important to transfer, store and secure your crypto investments on a crypto hardware wallet, also known as a cold storage wallet.
The best crypto wallet is the Ledger Nano X.
🎥 WATCH: HOW TO TRANSFER BITCOIN TO LEDGER ▶️
There are several crypto cold hardware wallets and top are the Ledger Nano X or the Ledger Nano S Plus.
It’s important to buy your crypto hardware wallet directly from the manufacturer and not on any third party websites such as Amazon, eBay, Costco etc. This is to ensure the authenticity of your device and to prevent storing your crypto on a compromised device.
CLICK HERE TO ORDER YOUR LEDGER NANO X
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