CoinAxis

  • Home
    Home This is where you can find all the blog posts throughout the site.
  • Categories
    Categories Displays a list of categories from this blog.
  • Tags
    Tags Displays a list of tags that have been used in the blog.
  • Login
    Login Login form

How To Buy Bitcoin, A Beginners Guide - CoinAxis

Posted by on in Tutorials
  • Font size: Larger Smaller
  • 0 Comments
  • Print

How to buy bitcoin, a beginners guide

As more people become aware of bitcoin, one of the many questions I get is "How do I buy bitcoin?".  Learning about a new technology can be daunting, especially for those whom are not technically savvy.  I hope to break down a few barriers and get you on your way to purchasing your first bitcoin!  Although, there are many options when it comes to purchasing bitcoins, I'm only outlining a handful of methods.  Please note that you'll have to setup your accounts first, and this may take a period of time.  However, once these are in place, you may buy and sell bitcoins as you wish.  One final note before I get to the guide:  Always use a complex, and long pass phrase when signing up for new accounts.  Also, always use two-factor authentication whenever possible.  Take great care to remember your passwords/phrase, as you are solely responsible for your bitcoins.

b2ap3_thumbnail_Coinbase.jpg

How to buy bitcoin - USA

Step-by-step

  1. Sign up for an account with Coinbase (you'll receive $1 worth of bitcoin by using this link)
  2. Verify & link bank account to Coinbase.
  3. Verify & link phone number
  4. Add credit card info (optional)
  5. Buy bitcoin from Coinbase (after bank account linked)

As you can see, the process is fairly straight forward.  I recommend becoming a fully verified user at coinbase.  This allows you to buy & sell instantly, and raises your total number of bitcoins you can buy & sell per day.

How to buy bitcoin - Eurozoneb2ap3_thumbnail_bitstamp.jpg

  1. Sign up for an account with Bitstamp.
  2. Verify your account with required documents.
  3. Wire/deposit funds into Bitstamp account (deposit section - SEPA/International bank)
  4. Wait for deposit to show up in Bitstamp.
  5. Purchase bitcoins from Bitstamp.  (buy/sell section) 

Bitstamp provides an easy way to purchase bitcoins, and is one of the largest bitcoin exchanges in the Eurozone.

How to buy bitcoin - Locallyb2ap3_thumbnail_localbtc.jpg

  1. You must have a bitcoin wallet (online or on your PC) to receive coins with a local bitcoins transaction.
  2. Sign up for an account with local bitcoins.
  3. Select "I want to buy bitcoins", and select your geographical location, then search.
  4. Select a seller that offers the deal that you'd like, and select "Buy".  It's a good practice to select a user with a good reputation.
  5. Enter the amount of bitcoin you wish to purchase, then select "Send trade request".  More info can be found here.
  6. Follow the instructions listed on the page.  These instructions vary for each individual seller.
  7. Once the transaction is complete, the bitcoin will be released to your wallet address you provide.

Local bitcoins is more geared for experienced users.  They provide many payment options, including face-to-face transactions.  They also include an escrow service to help protect you from scammers.  You will need to have a bitcoin address to receive the bitcoin.  Please note, that you must take great care when doing transactions using local bitcoins.  If you are doing face-to-face cash transactions, it's always best to do this in a public place, and it is recommended you take all necessary precautions.  If you do not feel confident, then using one of the other two methods above is recommended.

 

 

Last modified on
Rate this blog entry:
1

Leave your comments

Post comment as a guest

0 / 1000 Character restriction
Your text should be in between 10-1000 characters

Popular Articles

How to Configure Cgminer for Litecoin & Bitcoin (Windows 8)
Tutorials
Rate this blog entry:
14
How To Configure Linux, and build Cgminer for bitcoin and litecoin.
Tutorials
Rate this blog entry:
8
How to Configure Cgminer for Bitcoin-Litecoin (Linux)
Tutorials
Rate this blog entry:
6
How To Buy Litecoin - CoinAxis
Tutorials
Rate this blog entry:
12