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!
- Set up an account on BitPanda.com
- Get the account verified
- Deposit money into your USD or EUR wallet
- Buy the bitcoin!
- Buying altcoins in Binance.com
- Buy the altcoins!
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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).
Next step is to create an account, just fill in the details.
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.
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“.
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“
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“
Buy the altcoins!
Now when you have BTC in your wallet, you can exchange it for any altcoins Binance.com provides 🙂
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!