So you wanna know how to get started with Bitcoin investing?
There is a good reason why the media is making it look as if Bitcoin is a dead thing, hard to use and whatnot, all which couldn’t be farther from the truth. The thing is as long as your money can be seized from your bank account it’s actually not yours. And this is exactly why the media will do anything to stop you from acquiring the financial independence you deserve.
To know exactly what Bitcoin is, and why it matters, start by reading What is Bitcoin?
Getting started with Bitcoin is actually very simple since using Bitcoin is not much different then sending an email. Anyone can do it, you do not need permission, and there are many different reasons why someone would want to purchase Bitcoin.
Some people buy Bitcoin because it protects their assets.
While others escape the censorship of their government.
And some people just simply want to speculate on price.
That being said, let’s get started.
Best Ways to Buy Bitcoin
These are the most used and popular ways to purchase Bitcoin when getting started with cryptocurrency investing.
- Buy Bitcoin with a Credit Card.
Buying Bitcoin with Credit Card is the most convenient way to get started.
- Buy Bitcoin with a Bank Account.
Learn how to connect your Bank Account to cryptocurrency services.
- Buy Bitcoin with Cash.
Hook up a local buyer or seller and trade Bitcoin directly using Cash.
- Buy Bitcoin with Gift Cards.
Explore P2P exchanges that can be used to purchase Bitcoin using gift cards.
- Buy Bitcoin Automatically.
Recurring purchases of BTC can be set on a weekly, or monthly basis.
How to buy your first Bitcoin
Here we have a step by step guide through the entire process of buying your first Bitcoin.
First, you will learn what Bitcoin wallet is about, which wallet we suggest you choose. Secondly, we will show you the best ways to purchase Bitcoin and the whole process of how to acquire them. And finally, you will also learn how to use Bitcoin.
The entire process goes like this.
1. Get a Bitcoin wallet.
2. Buy your first Bitcoin.
3. Start using Bitcoin.
Get a Bitcoin wallet
Before you can get your first Bitcoin, you will need a Bitcoin wallet to store your Bitcoin.
A wallet can be both software or a piece of paper, and in reality, it’s not the Bitcoins that you need to store but the private keys, that let you access your coins on your Bitcoin address.
Example of what Bitcoin addresses look like 35RNNiA6UXJjUWj1VSusWS6ubqiHmop57m
Unlike Bank accounts, the Bitcoin wallet doesn’t require personal information, nor you need to register anywhere, it is completely free and takes just seconds to set up.
For convenience, we have suited you with the best choices.
We suggest you choose either Electrum for desktop or Samourai for mobile, both wallets are simple to use yet at the same time provide some of the best privacy and security features.
These wallets are not just good for beginners but for any advanced Bitociners out there.
We do not recommend you to use third-party wallets for holding Bitcoin, because in such cases you do not control your own private keys.
After you have successfully created a Bitcoin wallet and backed up the private keys. You are ready to continue getting your first Bitcoins using one of the many methods we have listed below.
Buy your first Bitcoin
Just like cash, there are many different ways you can obtain some bitcoin, such as earning, mining or simply just buying them from an exchange.
However, earning and mining Bitcoins require totally different knowledge in itself, and since you are just getting started, the simplest and easiest method to acquire some for a beginner is to just buy them from an exchange. After you have acquired your first Bitcoin, you can then begin using Bitcoin and studying on your own for various methods to make money with Bitcoin, such as trading cryptocurrencies.
Buying your first Bitcoin is very simple, all you do is choose an exchange, register, choose the amount you wanna buy, and make a trade.
Lets now look at some of the best ways to buy your first Bitcoin.
Changelly – Our absolute favorite when it comes to purchasing Bitcoin using a Credit Card.
CEX.IO – One of the oldest exchange with worldwide coverage, excellent for bank transfers.
HodlHodl – The best option when you wanna stay anonymous and use physical cash.
If you want to see full list of the best crypto exchanges visit here:
Best Crypto Exchanges For Trading, Buying & Selling (Ranked By Readers!)
Buy Bitcoin on Changelly
Changelly is an instant cryptocurrency exchange it is the fastest and most advanced way for you to buy Bitcoin with a Credit Card.
Buying Bitcoin on Changelly is super simple, and will take just a couple of easy steps, not even registration is required.
However, since Changelly doesn’t have a hot wallet, to get started you will need to obtain a Bitcoin wallet. And this is a good thing because you want to own your own private keys and be sovereign, that’s kinda the whole point of Bitcoin anyway.
After you have a Bitcoin wallet, you head to the website and simply click “Buy Crypto with bank card”. From there you will choose the amount you wanna buy and the currency you wanna use, EUR or USD. After this, you will input your Bitcoin address, and make a payment using your credit card. The Bitcoin will then be transferred to your chosen Bitcoin address within minutes.
Depending on the size of your purchase Changelly may prompt you with verification window while you are making a payment. Changelly also has high limits for credit cards with the first transaction starting from $50 to $10000 with a daily limit of $20000 and with a monthly limit of $50000.
Buy Bitcoin on CEX.IO
CEX.IO is one of the world’s oldest Bitcoin exchanges still around, it provides worldwide coverage and allows anyone to easily purchase Bitcoin using Bank transfer.
The way CEX.IO works is that you deposit money to your account either using Bank transfer or you can also add a credit card, either way after the money is on your account you can purchase Bitcoin instantly.
CEX.IO also provides totally free deposits on your account via bank transfer if you use either USD, EUR, or GBP. This means you get the exact same number you deposit to your balance.
To get started with CEX.IO all you do is register by using your email and password, you will then have to confirm your email, where you will be prompted to verify your phone number and identity. From there you can deposit and begin trading right away. Depending on your verification level, bank transfer limits are either up to $200.000 a day or unlimited.
Although verifying your identity can be a bit of a hassle, if you are planning to purchase a lot of Bitcoin, it’s still worth it in the long run.
CEX.IO is our absolute favorite when using bank transfer.
Purchase Bitcoin using CEX.IO.
Buy Bitcoin on HodlHodl
HodlHodl is a peer to peer non-custodial Bitcoin exchange meaning they do not hold user’s funds. This platform provides escrow service by creating a multi-signature wallet between the users. However, users can also connect and trade in their own terms such as meeting in person use cash and so on.
This is very similar to LocalBitcoins, yet the main difference is they do not force you to fill KYC information details, therefore giving you the option to stay anonymous.
Another huge difference with HodlHodl is that since they do not require KYC information, users also tend to trade using more payment methods, such as other cryptocurrencies, various banks, and all kinds of different e-money services.
To buy Bitcoin with cash, you will simply follow sellers’ instructions but make sure you’ll find a reputable seller with a good rating and reviews, or alternatively create your own trade instructions and begin operating the way you choose.
Of course, users can also discuss and negotiate their own terms, connect in person make purchases using physical cash and other various anonymous currencies and methods.
That being said HodlHodl is our #1 choice and favorite way to trade Bitcoin with other locals using cash. To get started with HodlHodl you register with your email and password, from there you will simply confirm your email, and begin trading. However, it is recommended you activate some security measures as well such as F2A.
Register on HodlHodl and receive an exclusive discount on trading fees.
Start using Bitcoin
To begin using Bitcoin is very simple, kinda like using an email. Similar to receiving your own Bitcoin to the Bitcoin address when you wanna send Bitcoin, all you need is a person’s receiving address.
Depending on the wallet, in most cases, you will simply paste the receiver’s address to the send bitcoin section, or either take a picture of the QR code of the receiving address.
Advanced wallets such as Electrum and Samourai also allow you to set transaction fees manually, the higher the fee is the faster the Bitcoin transaction will be processed by the Bitcoin network.
It’s also extremely important to make sure you do not send Bitcoin to the wrong address because if you do there is nothing you can do to get those Bitcoins back the coins will be lost forever. Always double-check the Bitcoin address you are about to use.
And that’s it, now you should be well ahead with getting your first Bitcoins.
And remember never hold your coins in the exchange.
Not your private keys, not your Bitcoins.
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