By now you have undoubtedly heard of Bitcoin. It has taken the world by storm and has been around since 2009. What started out as pennies on the dollar is now worth over $15,000 per coin, and is estimated by some to eventually get to $1,000,000 USD per bitcoin.
So how do you get in on this piece of the action? Well we have built this as a step-by-step guide to help you out on buying some Bitcoin. Unlike stocks, you can buy fractions of a bitcoin, like 0.01 bitcoin or 0.001 bitcoin. So yeah, you can get in on the action without having to spend a fortune.
The guide below is built to be a step-by-step process on buying Bitcoin. We hope it helps. Make sure you keep this tab open or bookmark it so you can come back to the guide.
1. Sign Up With Coinbase
Coinbase is the easiest and way to buy Bitcoin. Sign up with them to get started.
When you are signing up with Coinbase, they will ask you to submit some information to verify your identity. This is standard procedure. Once you are done with that...
2. Add Payment Method
Once you are done getting verified, it is time to add your payment method. Follow steps 1, 2, and 3 below to enter your payment method. You can enter in both a checking account and a credit card. However, limits on checking accounts are much higher and the fees are much lower. So I recommend checking account as the method to buy.
#1 click on Buy/Sell above, #2 Click on the arrow, #3 Click on "Add a new account"
3. Buy Bitcoin
Once you have added your account, all there is left to do is buy bitcoin. Look at the screenshots below to see how to buy your first bitcoin (or fraction of bitcoin).
Click on Buy/Sell
#1 Select the Bitcoin logo (NOT Bitcoin Cash). Then #2, put in how much money you want to spend. Then #3, press the button "Buy Bitcoin Instantly." Once you are done, it will show you how many bitcoins you bought and the Coinbase fee.
It's really that simple with Coinbase. Now if you want to buy the thousands of other cryptocurrencies that is not available on Coinbase, then follow these steps in this article here.
If you plan on holding onto your Bitcoin for a long time, then I recommend storing your Bitcoin in a hardware wallet. That way, your Bitcoin can't be hacked. The hardware wallet we recommend is The Nano Ledger S. It's made by a European company but you can also get it on Amazon.
Thanks for the know how. Very much appreciated.Reply