How to buy Bitcoin or Ethereum

Bitcoin and Ethereum are the two most popular cryptocurrencies in the market. Buying any of these two cryptocurrencies may seem complicated to the everyday person who has never done it. However, the procedure for buying Bitcoin (BTC) or Ethereum (ETH) is very straightforward if you know what to do.

In this guide, we will take you through the step-by-step procedure for buying BTC or ETH. Let’s dive!

Step #1: Find a reliable crypto trading service

The first thing you need to do is find a crypto trading service. Some of the most popular crypto trading services include cryptocurrency exchanges, payment services, and brokerages. You can choose any of these based on which one you find more convenient. However, most find cryptocurrency exchanges to be the most convenient.

There are hundreds of crypto exchange platforms that you can choose from. However, the most popular ones that we recommend include Binance, Coinbase, FTX, and Kraken. All these exchanges allow using fiat to but crypto.

Most of the popular fiat currencies, including US dollars, Euros, and the British pound, are accepted at these platforms. Make sure you choose an exchange platform that accepts the fiat currency you have to avoid incurring huge exchange fees.

After choosing an exchange platform, you can sign up by inputting your details. You will also be required to verify your identity using a valid identification document issued by your government. Some of the accepted documents include National IDs, driving licenses, and passports.

Step #2: Connect your crypto exchange to a payment option

After creating an account with the exchange platform, the next step is connecting any supported payment method. Most of the popular payment platforms such as VISA, MasterCard, Express America, and PayPal are accepted. However, you need to confirm with the exchange you chose in the previous step to find out the payment methods they support.

Step #3: Place an order for your Bitcoin or Ethereum

After connecting your payment method, you can now go ahead and place an order for any of the two cryptocurrencies. But before you place the order, make sure the amount of money on the payment platform you chose is slightly more than the total crypto you intend to buy. This is because the exchange platforms also charge a small fee on every transaction.

Each of these platforms also has a minimum amount of crypto that you can buy. For instance, the minimum you buy with Binance is $15 and $2 for Coinbase. After placing your order, the payment should be processed within a few seconds, and the crypto will be reflected in your wallet immediately. These exchanges also allow you to sell the crypto and get back your fiat or exchange it for another type of crypto whenever you wish to.

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