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Buying Bitcoin and altcoins – comprehensive guide for absolute beginners

Have you always wanted to buy some bitcoin, but did not know how?
Well, this guide is just for you. I will show you how to buy bitcoin in under 15 minutes and also how to buy alternative cryptocurrencies, so called altcoins.
Let’s get to it!

  1. Set up an account on BitPanda.com
  2. Get the account verified
  3. Deposit money into your USD or EUR wallet
  4. Buy the bitcoin!
  5. Buying altcoins in Binance.com
  6. Buy the altcoins!

 

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Use the coupon code LIFEDIRECTOR.EU to get it for free

or coupon FUTURE_CLUB to get it for $10.99.

https://www.udemy.com/bitcoin-and-altcoin-trading-from-scratch/

 

Set up an account on BitPanda

First you want to set up an account on bitpanda.com (if you want to use purely American exchange, use Coinbase.com, but this guide is made for BitPanda), which is in my opinion the best exchange for Europeans. (if you want you can cycle through the image gallery only – every image has a detailed description, so you can follow it easily).

signup
Click on Sign Up

Next step is to create an account, just fill in the details.

fill
Fill in the details
Click on the link in the confirmation email
Click on the link in the confirmation email
Click on the link in the confirmation email
Click on the link in the confirmation email
Login in to confirm
Login in to confirm

Get the account verified

Verification is needed to be able to deposit and withdraw money. Verification will take 5 minutes maximum, a video conference support operator will ask you for your ID and give you questions like „Are you being forced by someone to do this?“ etc. They may also ask you to spell out your name. The operators speak English and German as far as I know.

Click on verify
Click on verify
Fill in your details and phone number, the phone will be used for verification sms
Fill in your details and phone number, the phone will be used for verification sms
Choose your country and type of identification card (either ID or Passport)
Choose your country and type of identification card (either ID or Passport)
Choose a service to get verified by. I chose IDNow, it's fast-
Choose a service to get verified by. I chose IDNow, it’s fast-
IDNow will open in another tab
IDNow will open in another tab
Choose "Computer and webcam" and allow your browser to use your webcamera
Choose „Computer and webcam“ and allow your browser to use your webcamera
Now just wait for an operator (depending on queue, in my case it took 30 seconds)
Now just wait for an operator (depending on queue, in my case it took 30 seconds)
An operator will connect and greet you. Follow the instructions and get verified.
An operator will connect and greet you. Follow the instructions and get verified.

Deposit money into your USD or EUR wallet

Now, when your account has the „verified“ status, you can deposit money into your account to buy bitcoin. Click on „Deposit now“.

Click on Deposit now
Click on Deposit now
Choose into which wallet you want to deposit a FIAT currency
Choose into which wallet you want to deposit a FIAT currency
Choose a payment method
Choose a payment method
Choose the amount
Choose the amount
Confirm the deposit
Confirm the deposit
Proceed to the transaction, in my case a credit card
Proceed to the transaction, in my case a credit card
Fill in the details
Fill in the details
Proceed to the safe payment gate
Proceed to the safe payment gate
..and success!
..and success!
Now you have funds in your wallet, which you can use to buy BTC
Now you have funds in your wallet, which you can use to buy BTC

Buy the bitcoin!

Now you have the funds in the online wallet, you can buy the actual bitcoins! Click „Trade“ on top and then „Buy“

You are buying BTC with the funds.
Click „Trade“ on top and then „Buy“
Choose BTC
Choose BTC
Choose the wallet with the funds you just transfered
Choose the wallet with the funds you just transfered
Chose how much FIAT you want to spend on BTC
Chose how much FIAT amount you want to spend on BTC
Confirm the transaction
Confirm the transaction
Transaction successful!
Transaction successful!
Now you own bitcoins!
Now you own bitcoins!

Buying altcoins on Binance.com

Binance is an altcoin exchange. You can create a free account, without the need for verification, and buy any altcoin they provide. First you need funds of course. So now I am gonna show you how you can send BTC to your Binance wallet, and exchance it for other coins.

Once you create an account on Binance, just click on „Deposit“

Click on "Deposit"
Click on „Deposit“
Search for BTC deposit wallet
Search for BTC deposit wallet
Generate a deposit address and copy it
Generate a deposit address and copy it
Now click send in your BitPanda interface
Now click send in your BitPanda interface
Choose the BTC wallet
Choose the BTC wallet
Paste the copied destination address
Paste the copied destination address
Choose an amount you want to send
Choose an amount you want to send
After checking the details, click "Send"
After checking the details, click „Send“
Confirm the withdrawal in your email
Confirm the withdrawal in your email
After confirming the withdrawal, transaction will be made. Wait until it shows up and gets confirmed.
After confirming the withdrawal, transaction will be made. Wait until it shows up and gets confirmed.

Buy the altcoins!

Now when you have BTC in your wallet, you can exchange it for any altcoins Binance.com provides 🙂

You can see the 0.02 BTC deposit. Go to the basic exchange
You can see the 0.02 BTC deposit. Go to the basic exchange
Search for any altcoin you want, I am buying Steem
Search for any altcoin you want, I am buying Steem
Fill the trade request (green) and click "Buy STEEM"
Fill the trade request (green) and click „Buy STEEM“
Limit Buy Order Created!!
Limit Buy Order Created!!
Now I want to buy VeChain
Now I want to buy VeChain
Same procedure, then "Buy VEN"
Same procedure, then „Buy VEN“
You can see that the buy order is almost filled :)
You can see that the buy order is almost filled 🙂
And then we can see it in the "Balances" section. Now we own 26 VeChain.
And then we can see it in the „Balances“ section. Now we own 26 VeChain.

 

 

And that is all for now. If you have any question or you would want to see a tutorial on wallets, cold/HW storage, altcoin analysis or exchange analysis, let me know in the comments, and stay tuned for the next article!

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