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Cryptocurrency Knowledgebase – Buying Cryptocurrencies

How To Buy Bitcoins

Chapter 2.1- Buy Bitcoin

You can buy bitcoin in a number of different ways. One of the cool things about the world’s most popular cryptocurrency is that you don’t need to buy it from a specific exchange, person, or marketplace. You don’t need to use a specific payment method – like a certain credit card or bank transfer. You can even buy bitcoin in cash and receive it instantly

First, let’s talk about one of the core benefits of bitcoin: P2P trading. Bitcoin was designed from the ground-up to facilitate peer-to-peer (person to person) trading. That means bitcoin can easily be transferred from you to another person over the bitcoin network. This is one of the core features and benefits of bitcoin.

With that in mind, you don’t need anything to buy or sell bitcoin. Bitcoin was designed to easily be transferred from one person to another. You might give your plumber 1 bitcoin after he completes a project, for example. Or, you might transfer 0.001 bitcoin to the bartender who just served your drinks.

Of course, it’s not always easy to find someone willing to exchange bitcoins in person through a P2P trade. That’s why, in most cases, you’re going to be buying or selling bitcoin from exchanges and other online platforms.

How to Buy Bitcoin from an Exchange or Online Platform (Recommended)

Buying bitcoin from an exchange or an online platform is the easiest and most-recommended method. You can buy bitcoin within minutes using various online platforms or exchanges. You don’t need any special skills to buy bitcoin from an exchange. You just need an internet connection and a computer or phone.

Typically, here’s the process you use when buying bitcoin from an exchange or online platform:

Step 1) Visit an online exchange like Bittrex.com, Bitfinex.com, or Kraken.com.

Step 2) Sign up for a free account by entering your email address. Choose a username or password.

Step 3) At this point, you have a free account and can view the exchange’s main dashboard. You should be able to view cryptocurrencies available to purchase. However, you won’t be able to deposit money or buy cryptocurrencies until you complete the verification process.

Step 4) Most exchanges require verification. That means you’ll need to provide things like your full name, date of birth, and your driver’s license or other government-issued photo ID. Some exchanges also require you to take a picture of yourself. Some will even ask for a selfie of you holding your ID card. You should be able to see the required documents on your account overview screen. The exchange will let you upload photos or documents to prove your identity.

Step 5) Wait for the exchange to complete the verification process. This can take anywhere from a few minutes to a few days.

Step 6) Once verification is complete, you should be able to deposit money into the platform. Exchanges typically allow you to deposit money using credit cards, debit cards, bank transfers, wire transfers, and other payment methods. Choose the one you feel most comfortable with, then deposit any amount of money you wish to deposit. Remember: you don’t need to buy 1 BTC or 1 BCH at full price. You can buy a fraction of a bitcoin for as little as $5 or $10.

Step 7) Wait for your deposit to arrive in your exchange wallet. At this point, your money is stored with the exchange. Once the money is listed in your account, you can use that money to purchase bitcoins or other cryptocurrencies. You might see a USD/BTC pair, for example, or an BTC/EUR pair. Choose the pair that corresponds to the cryptocurrency you deposited, then buy your desired amount of bitcoin.

Step 8) Once you’ve purchased bitcoin from the exchange, the fiat currency (like USD or EUR) will be deducted from your account, while the bitcoin will appear in your account. Congratulations! You’re now the proud owner of bitcoin.

Step 9) At this point, you’re not technically the owner of your bitcoins. The bitcoins are still stored with the exchange, and you have no claim to your bitcoin if the exchange shuts down or gets hacked. Typically, crypto users will withdraw bitcoin from an exchange and store it in their wallet. The exchange will charge a withdrawal fee for bitcoin. Enter your bitcoin address into the exchange’s withdrawal screen (say, the wallet address for your Mycelium mobile app), then withdraw your bitcoin. Within 10 to 30 minutes, your bitcoin should appear in your wallet.

Step 10) Once your bitcoin is off the exchange and in your wallet, you’re now officially the owner of your bitcoin. You’re in control of your own private keys. You can secure your bitcoin with your 12-word passphrase (which you may have established when you setup your wallet for the first time).

That’s it! The process seems a lot more complicated than it is due to verification requirements. Exchanges are required to verify your information to comply with Anti-Money Laundering (AML), Counter Terrorism Funding (CTF), and Know Your Customer (KYC) regulations, all of which are required for businesses handling money. These verification steps are designed to prevent money laundering, among other illegal activities.

Once you’re verified on an exchange, it becomes much easier to buy bitcoin.

After verification, you can login to the exchange at any time, deposit money, then buy bitcoin immediately.

Pros and Cons of Buying Bitcoin from an Exchange

Pros

  • Easy verification and signup process
  • High liquidity on all major crypto exchanges
  • Straightforward buying and selling process
  • Low fees (typically between 0.1{655bb1ac81fcc8fe1349773f52235b1b7ffa4867e106313e43ef9ab5e2338f9c} and 0.4{655bb1ac81fcc8fe1349773f52235b1b7ffa4867e106313e43ef9ab5e2338f9c} on each trade)

Cons

  • Long verification process
  • Exchanges aren’t always secure, and even the largest exchanges have lost customer funds

 How to Buy Bitcoin from a Bitcoin ATM

Another option for buying bitcoin is to use a bitcoin ATM. Every major city in the world now has at least one bitcoin ATM.

A bitcoin ATM works in a similar way to a bitcoin exchange. The main difference is that you complete the verification process over the ATM instead of through an online dashboard. An ATM in the United States, for example, may require you to scan your driver’s license before buying bitcoin.

A bitcoin ATM can either be a one-way or a two-way ATM. A one-way ATM only allows you to buy bitcoin, while a two-way ATM allows you to buy and sell bitcoin.

ATMs are straightforward. You can typically buy bitcoin using cash. You give the machine cash, and it sends bitcoin to your wallet. The machine will count your cash and convert it to bitcoins (while deducting a 5{655bb1ac81fcc8fe1349773f52235b1b7ffa4867e106313e43ef9ab5e2338f9c} to 10{655bb1ac81fcc8fe1349773f52235b1b7ffa4867e106313e43ef9ab5e2338f9c} fee). Then, the machine will ask you to display your wallet QR code. You scan the code, and the machine sends bitcoin to your address.

There are a number of websites dedicated to tracking bitcoin ATMs worldwide. Right now, CoinATMRadar.com seems to have the most complete listing. You can view a map of bitcoin ATMs in your area here: https://coinatmradar.com/

Pros and Cons of Buying Bitcoin from a Bitcoin ATM

Pros

  • Convenient
  • Accessible
  • Available in virtually every major city worldwide
  • Immediately delivers bitcoin to your own wallet (no need to temporarily hold your bitcoin in an exchange)

Cons

  • You still need to verify your identity
  • Not available in rural areas or small cities
  • Bitcoin ATMs typically charge fees of around 10{655bb1ac81fcc8fe1349773f52235b1b7ffa4867e106313e43ef9ab5e2338f9c}, making them one of the most expensive ways to buy bitcoin

 How to Buy Bitcoin Using a Debit Card, Credit Card, or Bank Transfer

Most of us have a debit card, a credit card, or a bank account. Yes, you can use these payment cards to buy bitcoins.

Fortunately, there are a number of easy ways to buy bitcoin using credit cards, debit cards, and bank transfers.

Many cryptocurrency exchanges accept direct bank transfers, for example. Europe-based exchanges often accept SEPA transfers, for example, and similar payment methods. Canadian exchanges can accept local bank transfer methods like INTERAC. Australian exchanges may accept BPAY.

Some exchanges now offer support for debit cards and credit cards. These exchanges will allow you to deposit money into your account using ordinary payment cards. You may need to undergo an extra level of identity verification before depositing money with a credit card. You might also pay high fees of around 5{655bb1ac81fcc8fe1349773f52235b1b7ffa4867e106313e43ef9ab5e2338f9c}. Once you’ve added your credit card or debit card, however, you can deposit bitcoin to the exchange at any time and purchase bitcoin.

Pros and Cons of Buying Bitcoin With Debit Cards, Credit Cards, and Bank Transfers

Pros

  • More exchanges than ever now accept debit cards, credit cards, and bank transfers
  • Regional exchanges often accept region-specific bank transfer options like SEPA, INTERAC, and BPAY, among many others
  • You can buy bitcoin using your ordinary payment cards with no additional work required

Cons

  • Credit card deposits come with high fees, including fees of 5{655bb1ac81fcc8fe1349773f52235b1b7ffa4867e106313e43ef9ab5e2338f9c} or higher
  • Some banks flag credit card or debit card payments when they’re used to buy bitcoin
  • You’re always taking some risk when providing your credit card information over the internet, especially when you’re giving it to a relatively unknown cryptocurrency exchange

How to Buy Bitcoin Using a Bitcoin Wallet

Whether you’re using a mobile app or computer software as your bitcoin wallet, you should be able to buy bitcoin from within that wallet.

You typically use bitcoin wallets to store your bitcoins. This is their primary function. However, a growing number of bitcoin wallets now make it easy to buy cryptocurrency from within the wallet software itself.

Just open your bitcoin wallet app and you should see links to “buy bitcoin”. Click on any of these links, and you’ll typically be able to buy bitcoin using credit cards or other payment methods, then have that bitcoin delivered directly to your wallet.

These payment methods are fast, easy, and convenient. However, watch out for fees: wallet software developers often get a cut of your transaction, and that means you’ll be paying significantly higher fees than you would on an ordinary exchange.

Pros and Cons of Buying Bitcoin with a Bitcoin Wallet

Pros

  • It’s fast and easy
  • Bitcoins are deposited directly into your bitcoin wallet (no need to enter a recipient address)
  • You can buy bitcoins from within the app or software you already know and trust

Cons

  • Expect to pay high fees
  • Not available in all wallets
  • Some wallets have partnered with shady exchanges or payment platforms, so be careful where you’re buying from

How to Buy Bitcoin from an Online Payment Platform

You should be able to buy bitcoin from any online payment platform. Online platforms like Coinbase, for example, make it easy to purchase bitcoins using credit cards and other popular payment methods. Coinbase is just the user-friendly version of the popular cryptocurrency exchange GDAX. Using Coinbase.com, you can buy bitcoin quickly and easily – but you’re going to pay fees of 5{655bb1ac81fcc8fe1349773f52235b1b7ffa4867e106313e43ef9ab5e2338f9c} or higher, compared with fees of less than 0.5{655bb1ac81fcc8fe1349773f52235b1b7ffa4867e106313e43ef9ab5e2338f9c} when buying from GDAX.

There are plenty of online platforms like Coinbase that will be happy to handle your payments. A quick Google Search for “buy bitcoins” will turn up hundreds of similar payment platforms. All of these platforms work in a similar way: they handle the entire bitcoin buying process in a user-friendly way, but they also charge high fees.

Pros and Cons of Buying Bitcoin from an Online Payment Platform

Pros

  • Fast and easy
  • User-friendly
  • Requires no tech skills or experience
  • Get your bitcoin delivered anywhere you like

Cons  

  • High fees
  • Some payment platforms do a poor job of managing user security

How to Buy Bitcoin Using Cash

Many people prefer buying bitcoin using cash. It’s the only truly anonymous way to buy bitcoin. When buying bitcoin with cash, you’ll typically meet up with someone, give the person cash, and then wait for them to send you your desired amount of bitcoin.

Websites like LocalBitcoins.com arrange in-person cash transfers for bitcoin and other cryptocurrencies. These websites have built-in reputation systems for buyers and sellers, making it easy to see which users are reputable.

Obviously, it’s risky to meet anyone in person while carrying a significant amount of cash. That’s why many ordinary users shy away from cash transfers.

Pros and Cons of Buying Bitcoin Using Cash

Pros

  • As anonymous as it gets
  • Buy any amount of bitcoin
  • Keep transactions offline and off the books
  • Find reputable buyers or sellers using online marketplaces like LocalBitcoins.com, which can also provide escrow services for enhanced transaction security

Cons  

  • It can be dangerous meeting someone in person while carrying cash
  • Some bitcoin sellers still charge high fees (say, when accepting bank transfers for bitcoin)
  • Unless you live in a major urban area, it may be difficult finding a person willing to exchange cash for bitcoin

Conclusion

Buying bitcoin was once an expensive, annoying, and difficult process. Today, thanks to the surging popularity of bitcoin, it’s easier than ever to buy the world’s most popular cryptocurrency. Whether you’re buying from an exchange, purchasing bitcoin with cash, or using any other payment method, we’re confident the payment methods above will help you buy however much bitcoin you need.


How To Buy Bitcoins Using Paypal

Chapter 2.2 Buy Bitcoin With Paypal

PayPal is one of the internet’s most popular payment methods. It’s understandable that a lot of people want to learn how to buy bitcoin using PayPal.

Is it easy to buy bitcoin using PayPal? Will your account get banned if you buy bitcoin using PayPal? Today, we’re explaining everything you need to know about buying bitcoin using PayPal.

PayPal Does Not Officially Support Bitcoin Transactions

It’s important to note that PayPal does not officially support bitcoin. The company has never officially supported bitcoin, nor do they have any plans to support bitcoin in the future.

That means that, in most cases, it’s going to be difficult to buy bitcoin using PayPal. It’s not as easy as entering your PayPal credentials and buying bitcoin. Instead, you’ll typically have to jump through several hoops to buy bitcoin using PayPal.

One of the reasons PayPal isn’t a popular payment method is the risk of chargebacks. A buyer could send money to someone via PayPal, wait to receive the bitcoin, then issue a chargeback complaining that they never received their bitcoin. PayPal sides with the buyer, and the seller loses his bitcoin with no compensation.

It’s also important to note that PayPal – which is notorious for banning accounts for dubious reasons – reserves the right to freeze your funds, ban your account, and perform other penalties. If you get caught violating PayPal’s terms of service (which could include using PayPal to buy bitcoin), then you risk penalties.

Got it? Good. Now, let’s take a look at some of the ways you can buy and sell bitcoin using PayPal.

How to Buy Bitcoin Using PayPal and VirWoX

You can buy bitcoin using PayPal – but only if you jump through a few hoops.

The most popular way to buy bitcoin using PayPal is to use Virtual World eXchange, better known as VirWoX. The popular online marketplace lets you buy other digital items using PayPal. Then, you can trade those digital items for bitcoins.

It’s a multi-step process with higher fees along the way – but using this process, you can legitimate buy bitcoin using PayPal.

For this method, you’re using VirWoX and PayPal to purchase digital items called Second Life Lindens (SLLs). Yes, these are the same tokens used in the game Second Life. They’re a virtual world currency. After buying SLLs, you can trade them for bitcoin for approximately the same value.

Again, you’re not directly buying bitcoin using PayPal (which is pretty much impossible). Instead, you’re going through a multi-step process. Here’s how to do it:

  1. Go to VirWoX.com and sign up for a free account. You’ll need to enter basic personal details and an email address. It’s a straightforward signup process.
  2. Activate your account by clicking on the link sent to your email address.
  3. After activation, we recommend changing your password.
  4. Add money to your VirWoX account from PayPal. On the left-hand side of your dashboard, you’ll see an option to “Deposit”. Click that link, then click the PayPal option. You’ll be able to view the full transaction fee before the deposit goes through. This process works best using USD because VixWoX has a USD/SLL pairing.
  5. Trade your USD for SLL by clicking on “Exchange” on VirWoX. Look for the USD/SLL pair. Click on that pair and exchange your USD for SLLs.
  6. Under the same “Exchange” window, you’ll see an option to exchange BTC for SLL. Now, sell your SLLs for bitcoins. This transaction might not take place instantly. Sometimes, VirWoX will implement a manual review process that takes a day or two to complete.

That’s it! You’ve officially deposited USD via PayPal, used that USD to buy SLLs, then sold than SLL for bitcoins. You’ve bought bitcoin via PayPal.

Remember, you’re going to pay fees throughout this process. You’ll pay a fee when you transfer money from PayPal to VirWoX. You’ll pay a fee to VirWoX when you buy SLLs. And you’ll pay a fee to VirWoX again when you sell your SLLs for bitcoin.

Because of all these fees, buying bitcoin via PayPal isn’t efficient or cost-effective. However, it’s certainly an option.

How to Buy Bitcoin Using PayPal and LocalBitcoins

We mentioned LocalBitcoin in Chapter 2.1. It’s a popular marketplace where you can find people willing to buy or sell bitcoin using a number of popular payment methods – including cash, bank transfers, or PayPal.

Yes, you can use PayPal on LocalBitcoins.com. Some sellers accept it. You can typically expect to pay high fees when using PayPal on LocalBitcoins. Sellers know that only a small number of sellers accept PayPal – so they charge a premium for their services. Nevertheless, you can legitimate buy bitcoin using PayPal on LocalBitcoins.com.

Here’s how to do it:

  1. Go to LocalBitcoins.com and sign up
  2. Look for traders in your local area (LocalBitcoins works on a regional basis). Find a seller willing to accept PayPal payments in exchange for bitcoin. You can customize your search to only display sellers that accept PayPal.
  3. After customizing your search, you should see a list of sellers willing to accept PayPal payments in exchange for bitcoin. Find the seller willing to offer you the best exchange rate. Different sellers offer different exchange rates on LocalBitcoins. Also consider things like feedback score, trade limits, and payment windows, all of which should be listed on a seller’s page.
  4. Once you’re satisfied with a seller’s terms, initiate the trade. Enter your amount in your local currency, then see the amount of bitcoin the seller is willing to offer. Then, click “Send Trade Request” to initiate the transaction.

Other Ways to Buy Bitcoin Using PayPal

Ultimately, you can use PayPal to buy bitcoin at virtually any website that accepts PayPal in exchange for goods you can sell for bitcoin. Other options include:

  • Paxful
  • Cryptonit
  • E-coin
  • Wirex

All of these platforms either sell bitcoin directly via PayPal. Or, they sell items that can be purchased with PayPal and sold for bitcoin.

Follow the steps and processes listed above to buy bitcoin using PayPal!


How To Buy Bitcoins Using Cash

Chapter 2.3

Bitcoin is an electronic payment method. Just because bitcoin is electronic, however, doesn’t mean you can’t buy bitcoin with cash. In fact, there are a number of easy ways to purchase bitcoin using cash.

In this chapter, we’ll explain everything you need to know about buying bitcoin with cash, including how to do it, how to protect yourself, and how to securely buy bitcoin for cash.

Yes, You Can Buy Bitcoin with Cash

There are a number of easy and affordable ways to buy bitcoin with cash, including:

  • Meet someone in-person for a peer-to-peer transfer (you give someone cash, they transfer bitcoins)
  • Deposit cash into a bitcoin ATM, then receive bitcoin in return
  • Use one of several major exchanges that accept cash
  • Deposit cash into someone’s bank account, then receive bitcoin in exchange

These are your basic options for buying bitcoin with cash. Let’s take a closer look at how each option works.

How to Buy Bitcoin with Cash Through P2P Trades

Buying bitcoin with cash in-person is one of the most anonymous ways to buy bitcoin. You don’t need to disclose your identity to the seller. You can just meet up, provide cash, and walk away with bitcoins. You don’t need to enter your information into an exchange, and your bitcoins can be stored locally in your wallet – whatever wallet you’re using.

The best way to buy bitcoin with cash in-person is to use a reputable website like LocalBitcoins:

  • Sign up for LocalBitcoins
  • Enter your location and your preferred method of payment in the search parameters (choose cash)
  • On the next page, you’ll see a number of sellers willing to accept that mode of payment
  • Compare sellers based on their reputation, statistics, and terms and conditions
  • Once you’re satisfied with your seller, you can make an offer, and they can choose to accept it

Typically, LocalBitcoin sellers aren’t in the business of meeting people on the streets to exchange cash for bitcoin. Instead, they’ll request you to deposit cash into a bank account number. You visit a bank to deposit that cash, and then the seller transfers bitcoins to you when the cash is in the account. This method is anonymous and easy.

However, if you feel uncomfortable using a bank, then you may be able to find sellers willing to meet for in-person cash transfers. Obviously, try to meet in a safe, public place if you plan on walking around with lots of cash.

There are other options for buying bitcoin with cash through P2P trades. Websites like BitQuick, for example, let you deposit cash into the seller’s bank account and then receive bitcoin in return. Wall of Coins offers similar service.

Whether you’re depositing cash into a bank account or meeting up with someone in-person, you can easily buy bitcoin with cash using any of the options listed above.

How to Buy Bitcoin with Cash at a Bitcoin ATM

Bitcoin ATMs are another popular way to buy bitcoin using cash. Any bitcoin ATM will let you deposit cash to purchase bitcoins.

You treat a bitcoin ATM just like a regular ATM. You place cash inside the ATM, and then the ATM will send a certain amount of bitcoin to your desired address.

Bitcoin ATMs may ask you to verify personal information. Many bitcoin ATMs, for example, require you to scan government-issued photo ID.

Another drawback of bitcoin ATMs is the high fees. Bitcoin ATMs charge fees of 5{655bb1ac81fcc8fe1349773f52235b1b7ffa4867e106313e43ef9ab5e2338f9c} to 10{655bb1ac81fcc8fe1349773f52235b1b7ffa4867e106313e43ef9ab5e2338f9c}. That’s higher than most other bitcoin purchasing methods online and it’s more than most sellers will charge on websites like LocalBitcoins.

Nevertheless, bitcoin ATMs have their advantages. Once you’ve deposited cash into the machine and verified your identity, the machine will transfer bitcoin to you by scanning a QR code. You can use a paper wallet if you wish. However, it’s best to use a mobile wallet – like an app on your phone. Just display the QR code from that wallet to the ATM, then wait for your bitcoin to appear.

How to Buy Bitcoin with Cash Using LibertyX

LibertyX is another popular way to buy bitcoin with cash. The main restriction with LibertyX is that it’s currently only available at a small number of retail stores across the United States. You’ll also need to verify your identity before completing the purchase, so it’s not an anonymous cash transfer.

With LibertyX, you can buy up to $1,000 worth of bitcoin while being charged a 1.5{655bb1ac81fcc8fe1349773f52235b1b7ffa4867e106313e43ef9ab5e2338f9c} fee on all purchases, although individual retail stores may also charge their own fees.

If there’s a LibertyX retailer near you, then you can walk in with cash and walk out with bitcoin at a cheaper rate than you’d pay with many LocalBitcoins sellers or bitcoin ATMs. However, the transaction is far from anonymous.

How to Buy Bitcoin with Cash from an Exchange

Many cryptocurrency exchanges accept bank transfers as a deposit method. You can transfer money from your bank account to the crypto exchange’s bank account.

However, some exchanges specifically offer cash deposits. Wall of Coins, for example, is a cryptocurrency exchange available to customers in the United States, Canada, the UK, Germany, Poland, Argentina, Latvia, and the Philippines. You can make a cash deposit at 100,000+ deposit locations, then receive your bitcoin within 15 minutes.

The main advantage of working with Wall of Coins is that you don’t need to provide any personal data: you just need to verify a mobile phone number.

Conclusion

Buying bitcoin with cash isn’t always easy. Fortunately, there are a number of websites, exchanges, and online platforms where you can purchase bitcoin with cash and enjoy competitive rates, anonymity, and high security.


How To Buy Bitcoins Using a Credit or Debit Card

Chapter 2.4

You’ve been using debit cards and credit cards your whole life. But can you buy bitcoin with these popular and familiar payment methods? Will your bank block transactions when you’re buying bitcoin? Are there any drawbacks to buying bitcoin with a credit card or debit card?

Keep reading. We’re going to answer all the questions you have about buying bitcoin with a credit card or debit card.

Most Exchanges Do Not Support Credit Cards

First, let’s make one thing clear. The majority of cryptocurrency exchanges do not support credit card payments. This is deliberate: exchanges worry about chargeback fraud. Credit card companies typically side with the credit card holder in the event of a dispute. That means someone could deposit $5,000 with a credit card into an exchange, buy bitcoin and withdraw it, then issue a chargeback through their credit card company, leaving the exchange with no bitcoin or money.

Chargeback fraud is a major issue in the cryptocurrency industry. The main problem is that there’s no proof of a party receiving bitcoin payments. This makes it difficult for your bank or credit card company to verify a transaction took place. If a credit card holder claims they never received their bitcoins, and there’s no way to prove it, then the bank will side with the credit card holder.

The end result is that a few fraudulent actors ruin it for the rest of the world. Most exchanges do not support credit cards. You may, however, be able to find certain online platforms that let you instantly buy bitcoin using credit or debit cards.

How to Buy Bitcoin Using a Credit Card or Debit Card on Coinbase

Coinbase tends to be the most popular way to buy bitcoin using a credit card or debit card. With Coinbase, you pay a fee of around 4{655bb1ac81fcc8fe1349773f52235b1b7ffa4867e106313e43ef9ab5e2338f9c} to 5{655bb1ac81fcc8fe1349773f52235b1b7ffa4867e106313e43ef9ab5e2338f9c}. You’ll also have a limit of $10,000 per day. However, you can legitimately purchase bitcoin using your credit card. It’s as easy as buying anything online with a credit card.

Coinbase was one of the first major payment platforms to accept credit card payments. Buying bitcoin with credit cards through the platform continues to be fairly easy:

  1. Register an account on Coinbase.com
  2. Go to Settings > Payment Methods > Add Payment Method
  3. Choose Credit/Debit Card from the list
  4. Enter your credit card details; Coinbase accepts all VISA and MasterCard cards
  5. Go to the buy/sell section to purchase bitcoin using your credit or debit card

It’s important to note that Coinbase’s high fees are only an issue on credit card: the company charges a fee of around 4{655bb1ac81fcc8fe1349773f52235b1b7ffa4867e106313e43ef9ab5e2338f9c} on credit card purchases, although debit card purchases have 0{655bb1ac81fcc8fe1349773f52235b1b7ffa4867e106313e43ef9ab5e2338f9c} transaction fees.

Coinbase supports 30+ countries worldwide. It’s not available internationally, but it’s available in most major countries.

How to Buy Bitcoin Using a Credit Card or Debit Card on Other Exchanges

Other exchanges and online platforms accept credit card and debit card payments. Some of the notable options include:

Coinmama: Coinmama is another longstanding cryptocurrency exchange. With Coinmama, even unverified accounts can buy bitcoin using credit cards or debit cards. However, unverified accounts are restricted to buying $150 of bitcoin, while verified accounts can buy up to $5,000 worth of bitcoin per day (or $20,000 per month). In exchange for this convenience, Coinmama charges relatively high fees. You can expect to pay about 5{655bb1ac81fcc8fe1349773f52235b1b7ffa4867e106313e43ef9ab5e2338f9c} fees on all transactions.

CEX.io: CEX.io is one of the highest-volume cryptocurrency exchanges in the world today. CEX is one of the few major exchanges that widely supports buying bitcoin using credit cards and debit cards. Open an account on CEX.io, verify your identity, then go to “Fund”. You should be able to add money to your wallet using your credit card. You can also withdraw funds directly to your cards.

Bitstamp: Bitstamp recently added support for credit cards and debit cards. Along with CEX.io, it’s one of the only major exchanges that officially supports credit cards and debit cards. Bitstamp will charge fees of 5{655bb1ac81fcc8fe1349773f52235b1b7ffa4867e106313e43ef9ab5e2338f9c} to 8{655bb1ac81fcc8fe1349773f52235b1b7ffa4867e106313e43ef9ab5e2338f9c} for using credit cards and debit cards. The exchange only supports credit card holders from the United States and Europe. The verification process can also be relatively slow.

Bitcoin.com: Bitcoin.com makes it easy to buy bitcoin using credit cards. It’s not an exchange; instead, it’s an online payment platform and informational resources for the bitcoin community. At Bitcoin.com, you’ll see fees of 5{655bb1ac81fcc8fe1349773f52235b1b7ffa4867e106313e43ef9ab5e2338f9c} to 7.5{655bb1ac81fcc8fe1349773f52235b1b7ffa4867e106313e43ef9ab5e2338f9c} or higher, making it one of the most expensive options on this list. However, you can legitimately use Bitcoin.com to buy bitcoin using credit cards or debit cards.

How to Buy Bitcoin Using Credit Cards or Debit Cards with P2P Transfers

You might be able to find traders on LocalBitcoins.com and similar resources that accept credit cards and debit cards. It’s not unusual for an independent trader to accept card transfers.

Typically, these sellers will charge fees similar to what we see above. You can expect to pay fees of 5{655bb1ac81fcc8fe1349773f52235b1b7ffa4867e106313e43ef9ab5e2338f9c} to 7{655bb1ac81fcc8fe1349773f52235b1b7ffa4867e106313e43ef9ab5e2338f9c} on all debit card or credit card purchases.

To search for bitcoin sellers that accept credit card or debit card payments on LocalBitcoins, just sign up for the platform and customize your search based on payment method.

A Word of Warning When Buying Bitcoin with Credit Cards or Debit Cards

Your bank tracks every transaction you make using credit cards or debit cards. Some banks have flagged bitcoin transactions the same way they flag transactions related to gambling or drugs: they’re high-risk transactions associated with illegal activity.

Typically, your bank isn’t going to freeze your accounts overnight without warning. However, you might receive a phone call asking to explain your recent transaction history. Typically, it’s your bank’s fraud department wanting to make sure the transaction was legitimate.

It’s generally a bad idea to lie to your bank. However, you may wish to “obfuscate the truth” if your bank asks if you’re buying cryptocurrencies. Sometimes, it can lead to big penalties and total account cancelation.

Conclusion

Buying bitcoin with credit cards and debit cards is very easy – it’s just expensive. You can find plenty of online platforms and exchanges that accept credit cards and debit cards in exchange for bitcoin. However, you can expect to pay high fees of at least 5{655bb1ac81fcc8fe1349773f52235b1b7ffa4867e106313e43ef9ab5e2338f9c} on most online platforms. Some of these fees are paid by the retailer to the credit card company. Most credit card companies charge fees of around 3{655bb1ac81fcc8fe1349773f52235b1b7ffa4867e106313e43ef9ab5e2338f9c} to retailers. The extra 2 to 3{655bb1ac81fcc8fe1349773f52235b1b7ffa4867e106313e43ef9ab5e2338f9c}, however, is profit for the online platform.

You may also encounter buying limits when buying bitcoin with credit cards and debit cards online. Some platforms restrict you to just $200 with an unverified account, for example. Other platforms let you buy up to $20,000 of bitcoin in a month – but you need to be verified.

As long as you understand the high fees and withdrawal limits, you’ll have no trouble buying bitcoin online using credit cards and debit cards.


How To Buy and Sell Bitcoins Using Zebpay

Zebpay is India’s leading bitcoin and cryptocurrency exchange. The exchange is headquartered in Singapore but maintains an office in Ahmedabad in Gujarat. It officially became India’s first bitcoin exchange in 2012 when it launched under the catchy name BuySellBitCo.in.

Today, Zebpay is India’s highest-volume cryptocurrency exchange. The exchange is available online at Zebpay.com. You can also download the Zebpay app for iOS and Android.

If you live in India, then Zebpay is one of the best ways to buy bitcoin and other cryptocurrencies. You might also want to use Zebpay if you have Indian Rupees that you wish to sell. In general, however, Zebpay is only used by people from India.

How to Sign Up for Zebpay

In order to buy and sell bitcoin on Zebpay, you’ll need to first sign up. To sign up, you’ll need information like:

  • Your email address
  • Your phone number
  • Your PAN card
  • Your banking information

Zebpay originally supported payments from the Royal Bank of India (RBI) and similar institutions. As of recently, however, RBI has blocked crypto-related payments.

Your PAN card, meanwhile, is a Government of India requirement. You’ll need to provide this information in order to sign up. You can also enter your Aadhaar details (your 12 digit number), although it’s not required.

How to Buy Bitcoin Using Zebpay

best-bitcoin-cryptocurrency-guide

You’ve signed up for Zebpay and verified your account. Now, let’s look at how to buy bitcoin using Zebpay.

  1. Install the Zebpay app for iOS or Android. Or, visit Zebpay.com. If using the app, you may be asked to setup a security PIN to verify transactions. Make sure you don’t forget this PIN. It typically takes about 4 hours to verify your Zebpay account if you haven’t already done so.
  2. Before buying bitcoin with Zebpay, you’ll need to deposit money. The app and website both feature a “Deposit” link. On the next screen, you should see an “Rs Deposit” heading. There are a number of different options available, including online money transfers, normal transfers, and NEFT/RTGS/IMPS options. Choose the one that meets your needs. Make sure you’re aware of the fees and limits.
  3. Your Zebpay account is now funded. You can purchase bitcoin using that balance. Go to the main Zebpay screen, then enter the amount of money you wish to use to buy bitcoins. Zebpay will give you an exchange rate and will explain how many bitcoins your Rupees can buy. Verify the transaction with your security PIN, and you’ve officially purchased bitcoins. Your coins are still held by Zebpay – so you’ll need to withdraw your bitcoins to officially own your private keys.

How to Sell Bitcoins on Zebpay

Like all cryptocurrency excahnges, you can also sell bitcoin on Zebpay. It’s a straightforward process similar to the process listed above:

  1. Tap the “Sell” button on the Zebpay app or online dashboard. Enter the amount you wish to sell. You can enter your desired amount in Rupees or bitcoin.
  2. Enter your security PIN to verify your transaction. Tap the withdraw button.
  3. The amount will be deducted from your Zebpay balance and will be transferred to your connected bank account.

Conclusion

Zebpay is the most popular cryptocurrency exchange in India. It’s available via an online dashboard at Zebpay.com, or through mobile apps for iOS and Android. You can easily use Zebpay to buy or sell bitcoin.


How To Buy Ethereum

Chapter 2.6

Ethereum is the world’s second largest cryptocurrency by market cap. It’s also the second best-known cryptocurrency behind only bitcoin.

Launched in 2015, Ethereum is seen as “blockchain 2.0” for its innovative features like smart contracts and the Ethereum Virtual Machine.

Ethereum’s platform is fueled by a digital asset called Ether, or ETH. Ethereum doesn’t officially view ETH as a currency; instead, Ethereum views ETH as “the fuel” that runs the Ethereum engine.

Nevertheless, like bitcoin, ETH can be an attractive investment. During the Ethereum token sale in 2014, you could purchase 2000 ETH for approximately 1 BTC. At the time, 1 BTC was worth around $500 to $600 – so ETH was available for around $0.25 apiece. In the last few months, Ethereum has hit highs above $1400 USD per ETH. Anyone who invested during the ICO made a significant amount of profit simply by holding ETH.

Some people buy ETH as an investment. Others buy ETH to participate in an ICO. And others buy ETH to participate in Ethereum-based games like CryptoKitties.

Obviously, we have no idea where ETH’s price is going and it remains a high-risk investment. Whether you’re buying ETH as an investment or using it to participate in the Ethereum ecosystem, we’re going to explain how to buy Ethereum.

How to Buy Ethereum on a Cryptocurrency Exchange

Buying Ethereum is as easy as buying bitcoin. Ethereum is the world’s second largest cryptocurrency. Today, most exchanges have a BTC/ETH pair. A growing number of exchanges now offer USD/ETH and EUR/ETH pairs, among others. Put simply, it’s easier to buy ETH today than it’s ever been before.

Here’s the basic process you can use to buy Ethereum on a cryptocurrency exchange:

  1. Sign up for a cryptocurrency exchange; all major (and most minor) cryptocurrency exchanges have at least one Ethereum pair
  2. Verify your account
  3. Deposit funds into your account
  4. Buy Ethereum directly (if there’s a ETH/USD or ETH/EUR pair); or, you may need to purchase BTC and then buy Ethereum using the ETH/BTC pair
  5. Keep your ETH in your exchange account; or, withdraw your ETH to an Ethereum wallet like MyEtherWallet

How to Buy Ethereum Using Bittrex

The process of buying Ethereum on all major exchanges is pretty much the same. However, here’s the process used for buying Ethereum on Bittrex. For the purposes of this tutorial, we’re assuming you’re using Bittrex for the very first time.

  1. Go to Bittrex.com
  2. Click the “Get Started Now” button to visit the account registration page.
  3. Enter your email address and password to register your account, then confirm your registration by clicking the link sent to your email.
  4. Sign into your newly-verified account, then fill in personal details like your name, address, and phone number; Bittrex will verify your phone number. If this is your first time signing up for Bittrex, then you might also be required to provide government-issued photo ID and other verification data, depending on your country of residence.
  5. Once this process is complete, you’ll need to activate two factor authentication (2FA) to protect your account further; if you want to login to Bittrex, then you’ll need to enter your Google Authentication code. This protects your account from being hacked. Go to your Bittrex Settings page, then click on Two Factor Authentication. Bittrex will generate a 6 digit code.
  6. Create an Ethereum wallet on Bittrex. This wallet will hold your ETH. Remember: you cannot deposit Ethereum into a bitcoin wallet. If you try to do so, then you’ll permanently lose access to your Ethereum. To create an Ethereum wallet on Bittrex, click the “Wallets” link in the upper right corner of the Bittrex homepage. On the next page, you should see a “plus” sign beside Ethereum. This will create a public Ethereum address complete with a QR code, making it easy to deposit Ethereum into that address.
  7. Now you need to actually purchase Ethereum. You can purchase Ethereum in several different ways. First, there’s the ETH/BTC pair that lets you buy ETH in exchange for selling BTC. There’s also an ETH/USDT pair that lets you sell your USD for ETH (technically, you’re selling a digital token called the USD Tether in exchange for ETH). In order to buy ETH through either of these pairs, you’ll need to deposit USD or BTC into your account. You can deposit USD using bank transfers and other payment methods. Or, you can deposit BTC from any bitcoin wallet – say, if you bought bitcoin online through another service.
  8. Once your Bittrex account has been funded, you can easily purchase Ethereum using either of the pairs listed above. Click on either the BTC/ETH pair or the USDT/ETH pair. On this page, under the price graph, you’ll see two boxes. One says “Buy Ethereum” and the other says “Sell Ethereum”. In the Buy Ethereum box, you’ll have three options to buy Ethereum. You can buy Ethereum at the last sold price (“Last”). You can buy Ethereum at the best price currently being offered (“Bid”). Or, you can buy Ethereum at a specific price – like a price lower than the market rate, if you’re anticipating a drop. In that case, you’d hit the “Ask” button. Once you’ve chosen your order type, enter the number of Ethereum you wish to purchase (under “Units”). Then, click the “Buy Ethereum” button once you’re ready. Your order will be processed as soon as a seller is found. Your USD or BTC will be deducted from your account. Then, you’ll receive your ETH.
  9. You can keep your ETH in your Bittrex Ethereum wallet. Or, you can withdraw to a popular Ethereum wallet like MyEtherWallet or Jaxx.

Use an Online Service Like LocalEthereum

Ethereum is so popular that it’s even spawned its own LocalBitcoins-style service. It’s called LocalEthereum.com. Just like LocalBitcoins.com, you can find local buyers and sellers willing to sell ETH in exchange for a number of different payment methods.

You can use LocalEthereum to buy Ethereum for cash, for example. You can also use the service to buy Ethereum using credit cards or debit cards. Some sellers accept bank transfers. Others accept bitcoin payments.

Here’s the basic process you’ll use with LocalEthereum:

  1. Sign up for LocalEthereum.com
  2. Search for people selling Ethereum in your local area. LocalEthereum is a region-based service with support for 100+ countries worldwide. You’ll find sellers supporting specific local payment methods – like BPAY in Australia or Interac e-transfer in Canada. You can also find sellers supporting major international payment methods – including everything from international wire transfers to Venmo.
  3. Find a seller with a strong reputation and a long history of successful transactions
  4. Make an offer using your desired payment method; enter the amount you wish to buy (in your local fiat currency) and you should see a corresponding amount of ETH appear
  5. Verify the transaction and wait for the seller to respond

LocalEthereum makes it easy to buy Ethereum using a wide range of payment methods. Current payment methods accepted on the website include:

  • Western Union
  • WeChat Pay
  • International wire transfers
  • PayPal
  • Alipay
  • Western Union, MoneyGram, and similar services
  • Payeer
  • Skrill, Venmo, and similar services
  • Gift cards
  • TransferWise
  • In-person cash transfers
  • Bank transfers
  • Cash deposits

Whether you want to buy Ethereum anonymously using cash or online using cards, you can easily buy Ethereum using any of the payment methods listed above. LocalEthereum isn’t as large or as popular as LocalBitcoins, but the platform has still facilitated over $30 million in Ethereum transactions – so it’s the most reputable way to exchange Ethereum directly.

Should You Buy Ethereum (ETH) or Ethereum Classic (ETC)? What’s the Difference?

When you’re buying Ethereum online, you might encounter two different Ethereums: Ethereum (ETH) and Ethereum Classic (ETC).

These are two different currencies. Like bitcoin (BTC) and Bitcoin Cash (BCH), they spawned from the same chain, but hard forked to become two separate tokens. With Ethereum, the split occurred back in 2016 during The DAO incident. As a result of that hack, the Ethereum community was split into two different sections. The bulk of the community supported ETH (which hard forked to reverse the hack), while a smaller section of the community supported ETC (which accepted the hack and continued with the same chain).

Ultimately, when people talk about “Ethereum”, they’re typically referring to the main project and its Ether (ETH) digital token. Ethereum Classic remains an actively-developed project with its own merits. However, if you’re reading this article because you’ve heard about Ethereum, then you’re almost certainly looking to buy Ether (ETH).

Conclusion

Ethereum is the world’s second most popular blockchain. ETH is the world’s second largest cryptocurrency by market cap. That means it’s easier than ever to buy ETH using a variety of different payment methods. You can easily buy Ethereum from an exchange, for example. Or, you can use a service like LocalEthereum to purchase Ethereum using cash, bank transfers, and other deposit methods.


How To Buy NEO

Chapter 2.7

Neo was once known as Antshares. In 2017, the project rebranded to Neo. Neo is similar to Ethereum in that both platforms offer smart contracts, virtual machines, and the ability to launch your own standardized tokens. While Ethereum uses the ERC20 standard, Neo uses the NEP-5 standard. The Neo platform uses a token called NEO as its fuel – similar to how Ethereum uses ETH.

Today, Neo has grown to become one of the world’s largest and best-known altcoins. Ready to buy Neo for yourself? Today, we’re explaining how to easily buy Neo online.

How to Buy NEO from Any Cryptocurrency Exchange

All major cryptocurrency exchanges now feature NEO in at least one pair. You’ll often see a BTC/NEO pair online, for example. That means you can sell your bitcoin for NEO. If you have an account at any major exchange, then you should have no trouble purchasing NEO.

Here’s the basic process you’ll use to buy NEO from any cryptocurrency exchange:

  1. Sign up for a cryptocurrency exchange; most major (and many minor) cryptocurrency exchanges have at least one NEO pair – like NEO/BTC
  2. Verify your account
  3. Deposit funds into your account
  4. Buy NEO using a pair like NEO/BTC, NEO/ETH, or NEO/USD
  5. Keep your NEO in your exchange account; or, withdraw your NEO to your NEO wallet

How to Buy NEO Using Bittrex

The process of buying NEO on all major exchanges is virtually the same. However, we’ve broken the process down step-by-step for you below. For the purposes of this example, we’re buying NEO using Bittrex. Bittrex offers two NEO pairs, including NEO/USDT and NEO/BTC.

  1. Go to Bittrex.com
  2. Click the “Get Started Now” button to visit the account registration page.
  3. Enter your email address and password to register your account, then confirm your registration by clicking the link sent to your email.
  4. Sign into your newly-verified account, then fill in personal details like your name, address, and phone number; Bittrex will verify your phone number. If this is your first time signing up for Bittrex, then you might also be required to provide government-issued photo ID and other verification data, depending on your country of residence.
  5. Once this process is complete, you’ll need to activate two factor authentication (2FA) to protect your account further; if you want to login to Bittrex in the future, then you’ll need to enter your Google Authentication code. This protects your account from being hacked. Go to your Bittrex Settings page, then click on Two Factor Authentication. Bittrex will generate a 6 digit code.
  6. Create a NEO wallet on Bittrex. This wallet will hold your NEO. Remember: you cannot deposit NEO into a bitcoin or Ethereum wallet. If you try to do so, then you’ll permanently lose access to your NEO. To create a NEO wallet on Bittrex, click the “Wallets” link in the upper right corner of the Bittrex homepage. On the next page, you should see a “plus” sign beside NEO. This will create a public NEO address complete with a QR code, making it easy to deposit NEO into that address.
  7. Now you need to actually purchase NEO. You can purchase NEO in several different ways. First, there’s the NEO/BTC pair that lets you buy NEO in exchange for selling BTC. There’s also a NEO/USDT pair that lets you sell your USD for NEO (technically, you’re selling a digital token called the USD Tether in exchange for NEO). In order to buy NEO through either of these pairs, you’ll need to deposit USD or BTC into your account. You can deposit USD using bank transfers and other payment methods. Or, you can deposit BTC from any bitcoin wallet – say, if you bought bitcoin online through another service.
  8. Once your Bittrex account has been funded, you can easily purchase NEO using either of the pairs listed above. Click on either the BTC/NEO pair or the USDT/NEO pair. On this page, under the price graph, you’ll see two boxes. One says “Buy NEO” and the other says “Sell NEO”. In the Buy NEO box, you’ll have three options to buy NEO. You can buy NEO at the last sold price (“Last”). You can buy NEO at the best price currently being offered (“Bid”). Or, you can buy NEO at a specific price – like a price lower than the market rate, if you’re anticipating a drop. In that case, you’d hit the “Ask” button. Once you’ve chosen your order type, enter the number of NEO tokens you wish to purchase (under “Units”). Then, click the “Buy NEO” button once you’re ready. Your order will be processed as soon as a seller is found. Your USD or BTC will be deducted from your account. Then, you’ll receive your NEO.
  9. You can keep your NEO in your Bittrex NEO wallet. Or, you can withdraw to your NEO wallet if you want to maintain full control of your funds.

Conclusion

NEO is a popular cryptocurrency used as the fuel for the Neo ecosystem. Like Ethereum and ETH, you can use NEO to participate in NEP-5 token sales hosted on the NEO platform. Some people buy NEO specifically for this purpose. Others purchase NEO as an investment. The token has grown enormously in value since the beginning of 2017, rising from just a few pennies to as high as $180 at one point. Whether you’re buying NEO as an investment or for a token sale, you can follow the steps above to purchase NEO from any major exchange.


How To Buy Ripple

Chapter 2.8

Ripple is one of the world’s largest digital tokens by market cap. It’s also one of the most controversial. Unlike bitcoin, Ethereum, and similar projects, Ripple’s development isn’t led by an open source community. Instead, Ripple was created by the Ripple company, a privately-funded company based in San Francisco.

Ripple’s network relies on Ripple tokens called XRP. The goal of Ripple is to create an enterprise-grade digital settlement system. Today, Ripple is best-known for being the preferred blockchain-based settlement system for banks and other major financial institutions. The company continues to add new banks to its network regularly.

Ripple is built on a distributed, open source internet protocol and consensus ledger. The network can also operate without the Ripple company – so although the network is being developed by a private company, it’s not built to be totally closed and private.

Ripple has periodically reached the #3 market cap position in the cryptocurrency industry, falling just behind bitcoin (BTC) and Ethereum (ETH). It remains one of the best-known cryptocurrencies on the market. Today, we’re going to explain how to buy Ripple online as easily as buying bitcoin, ETH, or NEO.

How to Buy Ripple (XRP) from Any Cryptocurrency Exchange

All major cryptocurrency exchanges sell Ripple. It’s one of the largest cryptocurrencies by market cap. You should have no trouble finding an exchange that offers a trading pair like BTC/XRP, ETH/XRP, or even USD/XRP.

Here’s the basic process you’ll use to buy XRP from any cryptocurrency exchange:

  1. Sign up for a cryptocurrency exchange; most major (and many minor) cryptocurrency exchanges have at least one XRP pair – like XRP /BTC
  2. Verify your account
  3. Deposit funds into your account
  4. Buy XRP using a pair like XRP/BTC, XRP/ETH, or XRP/USD
  5. Keep your XRP in your exchange account; or, withdraw your XRP to your XRP wallet

How to Buy XRP Using Bittrex

The process of buying XRP on all major exchanges is virtually the same. However, we’ve broken the process down step-by-step for you below. For the purposes of this example, we’re buying XRP using Bittrex. Bittrex offers three XRP pairs, including XRP/BTC, XRP/USDT, and XRP/ETH.

  1. Go to Bittrex.com
  2. Click the “Get Started Now” button to visit the account registration page.
  3. Enter your email address and password to register your account, then confirm your registration by clicking the link sent to your email.
  4. Sign into your newly-verified account, then fill in personal details like your name, address, and phone number; Bittrex will verify your phone number. If this is your first time signing up for Bittrex, then you might also be required to provide government-issued photo ID and other verification data, depending on your country of residence.
  5. Once this process is complete, you’ll need to activate two factor authentication (2FA) to protect your account further; if you want to login to Bittrex in the future, then you’ll need to enter your Google Authentication code. This protects your account from being hacked. Go to your Bittrex Settings page, then click on Two Factor Authentication. Bittrex will generate a 6 digit code.
  6. Create an XRP wallet on Bittrex. This wallet will hold your XRP. Remember: you cannot deposit XRP into a bitcoin or Ethereum wallet. If you try to do so, then you’ll permanently lose access to your XRP. To create an XRP wallet on Bittrex, click the “Wallets” link in the upper right corner of the Bittrex homepage. On the next page, you should see a “plus” sign beside XRP. This will create a public XRP address complete with a QR code, making it easy to deposit XRP into that address.
  7. Now you need to actually purchase XRP. You can purchase XRP in several different ways. First, there’s the XRP/BTC pair that lets you buy XRP in exchange for selling BTC. There’s also an XRP/USDT pair that lets you sell your XRP for US Dollars (technically, you’re selling a digital token called the USD Tether in exchange for XRP). Finally, there’s an XRP/ETH pair that lets you sell your Ether for Ripple. In order to buy XRP through either of these pairs, you’ll need to deposit USD, ETH, or BTC into your account. You can deposit USD using bank transfers and other payment methods. Or, you can deposit BTC from any bitcoin wallet – say, if you bought bitcoin online through another service.
  8. Once your Bittrex account has been funded, you can easily purchase XRP using either of the pairs listed above. Click on either the BTC/XRP pair or the USDT/XRP pair. On this page, under the price graph, you’ll see two boxes. One says “Buy XRP” and the other says “Sell XRP”. In the Buy XRP box, you’ll have three options to buy XRP. You can buy XRP at the last sold price (“Last”). You can buy XRP at the best price currently being offered (“Bid”). Or, you can buy XRP at a specific price – like a price lower than the market rate, if you’re anticipating a drop. In that case, you’d hit the “Ask” button. Once you’ve chosen your order type, enter the number of XRP tokens you wish to purchase (under “Units”). Then, click the “Buy XRP” button once you’re ready. Your order will be processed as soon as a seller is found. Your USD or BTC will be deducted from your account. Then, you’ll receive your XRP.

Step 9) You can keep your XRP in your Bittrex XRP wallet. Or, you can withdraw to your XRP wallet if you want to maintain full control of your funds.

Conclusion

Ripple, or XRP, is one of the world’s largest and most popular digital currencies. You can use XRP for payments across the Ripple network. Ripple continues to be the preferred blockchain-based settlement system for major banks and financial institutions – and its influence continues to expand. To buy Ripple (XRP) from any major exchange, follow the steps listed above.


How To Buy Litecoin

Chapter 2.9

Litecoin was the world’s second major cryptocurrency. Called “blockchain 2.0” at launch, Litecoin used bitcoin’s core code as its foundation, then expanded on that foundation to build a new cryptocurrency. Litecoin continues to be actively developed to this day. Litecoin was originally built as a lightweight alternative to bitcoin: it reduced transaction time from 10 minutes to 2.5 minutes, for example. Litecoin is also known for its low fees.

Do you want to buy Litecoin? Like other cryptocurrencies, Litecoin has grown tremendously in value since the beginning of 2017. Originally priced at just a few pennies, Litecoin has soared as high as $320. Today, it consistently sits within the top 5 or top 10 largest cryptocurrencies by market cap, behind only major players like bitcoin, Ethereum, and Ripple.

Ready to discover how to buy Litecoin? Keep reading to find out!

How to Buy Litecoin (LTC) from Any Cryptocurrency Exchange

All major cryptocurrency exchanges sell Litecoin. It’s one of the largest cryptocurrencies by market cap. You should have no trouble finding an exchange that offers a trading pair like LTC/BTC. Some exchanges also offer LTC/USD, LTC/EUR, or LTC/ETH pairs, among others.

Here’s the basic process you’ll use to buy LTC from any cryptocurrency exchange:

  1. Sign up for a cryptocurrency exchange; most major (and many minor) cryptocurrency exchanges have at least one LTC pair – like LTC /BTC
  2. Verify your account
  3. Deposit funds into your account
  4. Buy LTC using a pair like LTC/BTC, LTC/ETH, or LTC/USD
  5. Keep your LTC in your exchange account; or, withdraw your LTC to your LTC wallet

How to Buy LTC Using Bittrex

The process of buying LTC on all major exchanges is virtually the same. However, we’ve broken the process down step-by-step for you below. For the purposes of this example, we’re buying LTC using Bittrex. Bittrex offers three LTC pairs, including LTC/BTC, LTC/USDT, and LTC/ETH.

  1. Go to Bittrex.com
  2. Click the “Get Started Now” button to visit the account registration page.
  3. Enter your email address and password to register your account, then confirm your registration by clicking the link sent to your email.
  4. Sign into your newly-verified account, then fill in personal details like your name, address, and phone number; Bittrex will verify your phone number. If this is your first time signing up for Bittrex, then you might also be required to provide government-issued photo ID and other verification data, depending on your country of residence.
  5. Once this process is complete, you’ll need to activate two factor authentication (2FA) to protect your account further; if you want to login to Bittrex in the future, then you’ll need to enter your Google Authentication code. This protects your account from being hacked. Go to your Bittrex Settings page, then click on Two Factor Authentication. Bittrex will generate a 6 digit code.
  6. Create an LTC wallet on Bittrex. This wallet will hold your Litecoin. Remember: you cannot deposit LTC into a bitcoin or Ethereum wallet. If you try to do so, then you’ll permanently lose access to your LTC. To create an LTC wallet on Bittrex, click the “Wallets” link in the upper right corner of the Bittrex homepage. On the next page, you should see a “plus” sign beside LTC. This will create a public LTC address complete with a QR code, making it easy to deposit LTC into that address.
  7. Now you need to actually purchase LTC. You can purchase LTC in several different ways. First, there’s the LTC/BTC pair that lets you buy Litecoin in exchange for selling BTC. There’s also an LTC/USDT pair that lets you sell your LTC for US Dollars (technically, you’re selling a digital token called the USD Tether in exchange for LTC). Finally, there’s an LTC/ETH pair that lets you sell your Ether for Litecoin. In order to buy LTC through either of these pairs, you’ll need to deposit USD, ETH, or BTC into your account. You can deposit USD using bank transfers and other payment methods. Or, you can deposit BTC or ETH from your existing BTC or ETH wallets.
  8. Once your Bittrex account has been funded, you can easily purchase LTC using either of the pairs listed above. Click on the BTC/LTC pair, the ETH/LTC pair, or the USDT/LTC pair. On this page, under the price graph, you’ll see two boxes. One says “Buy LTC” and the other says “Sell LTC”. In the Buy LTC box, you’ll have three options to buy LTC. You can buy LTC at the last sold price (“Last”). You can buy LTC at the best price currently being offered (“Bid”). Or, you can buy LTC at a specific price – like a price lower than the market rate, if you’re anticipating a drop. In that case, you’d hit the “Ask” button. Once you’ve chosen your order type, enter the number of LTC tokens you wish to purchase (under “Units”). Then, click the “Buy LTC” button once you’re ready. Your order will be processed as soon as a seller is found. Your USD or BTC will be deducted from your account. Then, you’ll receive your LTC.

Step 9) You can keep your LTC in your Bittrex LTC wallet. Or, you can withdraw to your LTC wallet if you want to maintain full control of your funds.

Conclusion

Litecoin is one of the world’s most popular cryptocurrencies. It’s also one of the oldest. Originally based on the bitcoin blockchain’s code, Litecoin has grown to become its own fully-fledged cryptocurrency. Today, Litecoin is easily available for purchase from all major exchanges. To buy Litecoin from exchanges like Bittrex today, follow the tutorial listed above.


How To Buy Factom

Chapter 2.10

Factom is a unique digital currency platform that functions as a data layer no top of the bitcoin blockchain. It’s like building a second blockchain on top of bitcoin. Using Factom and the platform’s native FCT token, businesses can secure records in real-time using a single, cryptographically-isolated hash. Today, businesses use Factom to decentralize record-keeping, ensuring the integrity of business data.

In more straightforward terms, Factom facilitates the secure, blockchain-based storage of virtually any type of data. You can find everything from business data to legal documents and property titles on Factom.

The ecosystem revolves around Factoid tokens, or FCT. You can buy FCT tokens to interact with the Factom ecosystem. Or, you can buy FCT tokens as an investment – just like you would buy any cryptocurrency.

Let’s take a closer look at how you can buy Factom tokens.

How to Buy Factom (FCT) from Any Cryptocurrency Exchange

Many cryptocurrency exchanges sell Factom. Factom isn’t the most popular cryptocurrency. It doesn’t have the market cap of its larger competitors like Ethereum and bitcoin. It typically sits in the top 100 cryptocurrencies by market cap. As of May 2018, it sits at the #101 position.

Here’s the basic process you’ll use to buy Factom (FCT) from any cryptocurrency exchange:

  1. Sign up for a cryptocurrency exchange that has a Factom pair like FCT/BTC
  2. Verify your account
  3. Deposit funds into your account
  4. Buy Factom using the FCT/BTC pair
  5. Keep your Factom in your exchange account; or, withdraw your Factom to your FCT wallet

How to Buy FCT Using Bittrex

FCT is available on Bittrex through a single pair: the FCT/ETH pair. Bittrex does not have an FCT/BTC pair, nor do they have an FCT/USD pair. If you want to buy FCT using Bittrex, then you’ll need to hold ETH.

  1. Go to Bittrex.com
  2. Click the “Get Started Now” button to visit the account registration page.
  3. Enter your email address and password to register your account, then confirm your registration by clicking the link sent to your email.
  4. Sign into your newly-verified account, then fill in personal details like your name, address, and phone number; Bittrex will verify your phone number. If this is your first time signing up for Bittrex, then you might also be required to provide government-issued photo ID and other verification data, depending on your country of residence.
  5. Once this process is complete, you’ll need to activate two factor authentication (2FA) to protect your account further; if you want to login to Bittrex in the future, then you’ll need to enter your Google Authentication code. This protects your account from being hacked. Go to your Bittrex Settings page, then click on Two Factor Authentication. Bittrex will generate a 6 digit code.
  6. Create an FCT wallet on Bittrex. This wallet will hold your Factom tokens. Remember: you cannot deposit FCT into a bitcoin or Ethereum wallet. If you try to do so, then you’ll permanently lose access to your FCT. To create an FCT wallet on Bittrex, click the “Wallets” link in the upper right corner of the Bittrex homepage. On the next page, you should see a “plus” sign beside FCT. This will create a public FCT address complete with a QR code, making it easy to deposit FCT into that address.
  7. Now you need to actually purchase FCT. To do that, deposit ETH into Bittrex (or purchase ETH from Bittrex using BTC or USD). Then, click on the FCT/ETH pair under Bittrex’s Ethereum markets page.
  8. Once your Bittrex account has been funded with ETH, you can easily purchase FCT using the FCT/ETH pair. After clicking on that pair, you’ll see two boxes on the bottom of the page. One box says “Buy FCT” and the other says “Sell FCT”. In the Buy FCT box, you’ll have three options to buy FCT. You can buy FCT at the last sold price (“Last”). You can buy FCT at the best price currently being offered (“Bid”). Or, you can buy FCT at a specific price – like a price lower than the market rate, if you’re anticipating a drop. In that case, you’d hit the “Ask” button. Once you’ve chosen your order type, enter the number of FCT tokens you wish to purchase (under “Units”). Then, click the “Buy FCT” button once you’re ready. Your order will be processed as soon as a seller is found. Your ETH will be deducted from your Bittrex ETH wallet. Then, you’ll receive the Factom tokens (FCT) in your FCT wallet.

Step 9) You can keep your FCT in your Bittrex FCT wallet. Or, you can withdraw to your own FCT wallet if you want to maintain full control of your funds.

Conclusion

Factom is a popular and accessible cryptocurrency. It doesn’t have the market cap of larger cryptocurrencies like bitcoin and Ethereum, but it remains a popular altcoin for investors, hodlers, and, of course, people who use the Factom platform. Follow the steps above to purchase Factom from Bittrex and other cryptocurrency exchanges.


How To Buy Omisego

Chapter 2.11

OmiseGo is a Southeast Asian-based cryptocurrency payment platform dedicated to combining blockchain-based efficiency with real-world point-of-sale systems. OmiseGo, also known as OMG, is based on the Ethereum platform.

The OmiseGo ecosystem uses OMG tokens as its payment protocol. OMG tokens are ERC20 tokens, which means they use Ethereum’s standardized token system. The OmiseGo blockchain uses a proof of stake algorithm.

Ultimately, OmiseGo is similar to Ripple in that both projects seek to provide enterprise-grade speed and security using a blockchain-based settlement system. OmiseGo, like Ripple, has signed numerous partners since launching in 2013. It’s important to note that OmiseGo is owned by its users and token holders – not by a centralized, privately-funded company.

You can buy OMG tokens to interact with the OmiseGo ecosystem. Tokens can be spent at partner institutions that use the OmiseGo protocol, for example. Alternatively, some people buy OMG tokens as an investment. The price of OMG tokens, like the price of most cryptocurrencies, has skyrocketed since the beginning of 2017. In July 2017, tokens were priced at around $0.50. By early 2018, OMG had hit a high of around $25 per token.

Ready to buy OmiseGo tokens (OMG)? Here’s how to do it.

How to Buy OmiseGo (OMG) from Any Cryptocurrency Exchange

Many cryptocurrency exchanges sell OmiseGo. OmiseGo is relatively popular, currently sitting inside the top 20 or 25 cryptocurrencies by market cap. That means it’s relatively easy to find exchanges that support OMG pairs like OMG/BTC or, in most cases, OMG/ETH.

Here’s the basic process you’ll use to buy OmiseGo (OMG) from any cryptocurrency exchange:

  1. Sign up for a cryptocurrency exchange that has an OmiseGo pair like OMG/BTC or OMG/ETH
  2. Verify your account
  3. Deposit funds into your account
  4. Buy OMG using the OMG/BTC or OMG/ETH pair
  5. Keep your OmiseGo tokens in your exchange account; or, withdraw your OmiseGo tokens to a wallet like MyEtherWallet that supports Ethereum and ERC20 tokens (remember: OMG is an ERC20 token supported by all ERC20 wallets)

How to Buy OMG Using Bittrex

OMG is available on Bittrex through three different pairs, including OMG/BTC, OMG/ETH, and OMG/USDT. You can sell your bitcoin, Ether, or US Dollars in exchange for OmiseGo tokens. Here’s how to do it on Bittrex:

  1. Go to Bittrex.com
  2. Click the “Get Started Now” button to visit the account registration page.
  3. Enter your email address and password to register your account, then confirm your registration by clicking the link sent to your email.
  4. Sign into your newly-verified account, then fill in personal details like your name, address, and phone number; Bittrex will verify your phone number. If this is your first time signing up for Bittrex, then you might also be required to provide government-issued photo ID and other verification data, depending on your country of residence.
  5. Once this process is complete, you’ll need to activate two factor authentication (2FA) to protect your account further; if you want to login to Bittrex in the future, then you’ll need to enter your Google Authentication code. This protects your account from being hacked. Go to your Bittrex Settings page, then click on Two Factor Authentication. Bittrex will generate a 6 digit code.
  6. Create an OMG wallet on Bittrex. This wallet will hold your OmiseGo tokens. Remember: you cannot deposit OMG into a bitcoin wallet. If you try to do so, then you’ll permanently lose access to your OMG. Make sure your Ethereum wallet supports ERC20 tokens before you deposit OMG tokens. Not all Ethereum wallets support ERC20 tokens. To create an OMG wallet on Bittrex, click the “Wallets” link in the upper right corner of the Bittrex homepage. On the next page, you should see a “plus” sign beside OMG. This will create a public OMG address complete with a QR code, making it easy to deposit OMG into that address.
  7. Now you need to actually purchase OMG. To do that, you’ll need to hold BTC, ETH, or USDT in your Bittrex account. Then, click on one of the three available OMG pairs (OMG/BTC, OMG/ETH, or OMG/USDT).
  8. Once your Bittrex account has been funded, you can easily purchase OMG using one of the three pairs we just mentioned. After clicking on your desired pair, you’ll see two boxes on the bottom of the page. One box says “Buy OMG” and the other says “Sell OMG”. In the Buy OMG box, you’ll have three options to buy OMG. You can buy OMG at the last sold price (“Last”). You can buy OMG at the best price currently being offered (“Bid”). Or, you can buy OMG at a specific price – like a price lower than the market rate, if you’re anticipating a drop. In that case, you’d hit the “Ask” button. Once you’ve chosen your order type, enter the number of OMG tokens you wish to purchase (under “Units”). Then, click the “Buy OMG” button once you’re ready. Your order will be processed as soon as a seller is found. Your ETH, BTC, or USDT will be deducted from your Bittrex wallet. Then, you’ll receive the OmiseGo tokens (OMG) in your Bittrex OMG wallet.
  9. You can keep your OMG in your Bittrex OMG wallet. Or, you can withdraw to your own OMG wallet if you want to maintain full control of your funds.

Conclusion

OmiseGo tokens (OMG) are the fuel for the OmiseGo payment platform, a community-owned settlement system with a major presence across Southeast Asia. Today, you can buy OmiseGo tokens easily online using Bittrex and other major cryptocurrency exchanges. Once you’ve purchased OMG, you can store it in any wallet that supports ERC20 tokens.


How To Buy SiaCoin

Chapter 2.12

SiaCoin is a popular altcoin used as part of a decentralized storage platform. It’s a digital token that lets you access blockchain-based storage. You can store data long-term using Sia Coin. When you store data, it’s broken up into encrypted pieces, then stored at nodes worldwide. Today, SiaCoin has a market cap close to $1 billion. It’s consistently one of the top 30 or top 40 largest cryptocurrencies by market capitalization.

Want to invest in SiaCoin? Want to use SiaCoin to store data? Today, we’re explaining how to buy SiaCoin from any exchange – even if you’re new to cryptocurrencies.

How to Buy SiaCoin (SC) from Any Cryptocurrency Exchange

SiaCoin is one of the world’s largest cryptocurrencies by market cap. You shouldn’t have trouble finding a SiaCoin pair on most major exchanges. However, it’s not quite as easy to find as bitcoin, Ethereum, Litecoin, and other coins with a larger market cap.

Nevertheless, here’s the basic process you’ll use to buy SiaCoin (SC) from any cryptocurrency exchange:

  1. Sign up for a cryptocurrency exchange that has a SiaCoin pair like SC/BTC or SC/ETH
  2. Verify your account
  3. Deposit funds into your account
  4. Buy SC using the SC/BTC or SC/ETH pair
  5. Keep your SiaCoin tokens in your exchange account; or, withdraw your SiaCoin tokens to your SiaCoin wallet.

How to Buy SC Using Bittrex

Bittrex is one of the highest volume SiaCoin exchanges available. Today, Bittrex offers three different SiaCoin pairs, including SC/BTC, SC/USDT, and SC/ETH. Here’s how to buy SiaCoin using any of these three pairs:

  1. Go to Bittrex.com
  2. Click the “Get Started Now” button to visit the account registration page.
  3. Enter your email address and password to register your account, then confirm your registration by clicking the link sent to your email.
  4. Sign into your newly-verified account, then fill in personal details like your name, address, and phone number; Bittrex will verify your phone number. If this is your first time signing up for Bittrex, then you might also be required to provide government-issued photo ID and other verification data, depending on your country of residence.
  5. Once this process is complete, you’ll need to activate two factor authentication (2FA) to protect your account further; if you want to login to Bittrex in the future, then you’ll need to enter your Google Authentication code. This protects your account from being hacked. Go to your Bittrex Settings page, then click on Two Factor Authentication. Bittrex will generate a 6 digit code.
  6. Create an SC wallet on Bittrex. This wallet will hold your SiaCoin tokens. Remember: you cannot deposit SC into a bitcoin wallet. If you try to do so, then you’ll permanently lose access to your SC. To create an SC wallet on Bittrex, click the “Wallets” link in the upper right corner of the Bittrex homepage. On the next page, you should see a “plus” sign beside SiaCoin. This will create a public SC address complete with a QR code, making it easy to deposit SC into that address.
  7. Now you need to actually purchase SC. To do that, you’ll need to hold BTC, ETH, or USDT in your Bittrex account. Then, click on one of the three available SC pairs (SC/BTC, SC/ETH, or SC/USDT).
  8. Once your Bittrex account has been funded, you can easily purchase SiaCoin using one of the three pairs we just mentioned. After clicking on your desired pair, you’ll see two boxes on the bottom of the page. One box says “Buy SC” and the other says “Sell SC”. In the Buy SC box, you’ll have three options to buy SC. You can buy SC at the last sold price (“Last”). You can buy SC at the best price currently being offered (“Bid”). Or, you can buy SC at a specific price – like a price lower than the market rate, if you’re anticipating a drop. In that case, you’d hit the “Ask” button. Once you’ve chosen your order type, enter the number of SC tokens you wish to purchase (under “Units”). Then, click the “Buy SC” button once you’re ready. Your order will be processed as soon as a seller is found. Your ETH, BTC, or USDT will be deducted from your Bittrex wallet. Then, you’ll receive the SiaCoin tokens (SC) in your Bittrex SC wallet.
  9. You can keep your SC in your Bittrex SiaCoin wallet. Or, you can withdraw to your own SC wallet if you want to maintain full control of your funds.

Conclusion

SiaCoin is a popular altcoin used as part of a decentralized storage system. You can use SiaCoin (SC) to store data in a secure, immutable, blockchain-based network spread across an international series of nodes. Today, SiaCoin sits in the top 30 or 40 cryptocurrencies by market cap.

To invest in SiaCoin today, or to buy SC to store your data, follow the instructions listed above.