Buying Bitcoin and other coins

 

You can buy Bitcoin, Ethereum and some of the other major altcoins on exchanges, like Coinbase, with a bank transfer, credit card, or wire transfer. Other exchanges, like Binance, do not accept fiat currencies (USD, EUR, GBP, etc.) so you must transfer Bitcoin or Ether to your account and then use that as your base currency to buy altcoins. Or if you want to use cash, you can meet up with someone in person (eg. LocalBitcoins) and trade them or look for a bitcoin ATM on a special map.

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For beginners, it is recommended that you start with Coinbase with a small amount you can afford to lose and get comfortable with it first. Start off with at least $100 to get an extra $10 in free Bitcoin by using this link. GDAX is Coinbase’s exchange where you don’t have to pay fees (if you do limit trades) but it is more complicated to use. Binance doesn’t accept fiat but it has many more options so you can transfer Bitcoin or Ether to it and exchange them for altcoins.

 

Exchanges

 

First, you will have to exchange your fiat currency for cryptocurrency. And then if you want to get access to altcoins, you can transfer it to exchanges that don’t accept fiat.

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Buy with Fiat

These exchanges accept fiat currency (USD, EUR, etc.), so they are the big gatekeepers in and out of the cryptocurrency world. They tend to be more regulated because of this and thus somewhat safer (although this is still the Wild Wild West so you need to be wary and cautious nonetheless). The following are in order of recommendation and Bitcoin market cap, meaning that the ones on top are used the most, or have the most money transferred on them. This only includes English-speaking countries’ currencies.

 

US Dollar (USD)

1. Coinbase (recommended!)

   • Based in USA

   • Credit card, bank transfer

   • Very user-friendly and best for newbies.

   • GDAX is more complicated but has much lower fees than Coinbase

2.  CEX.IO

   • Lower fees but a bit more difficult to use.

3. CoinMama

   • Higher limits and faster purchase (must already have a Bitcoin wallet).
      

 

Direct Transfers

You can also transfer cryptocurrencies directly with individuals for cash or services. LocalBitcoins is one of the major sites to find people. Some people use Meetup.com or Craigslist – or you can just ask your friends to send you coins! You will need your own wallet if you are not trading on an exchange.

1. LocalBitcoins

 

Cash ATMs

You can also use ATMs and deposit cash to get cryptocoins. They usually will have an online map to help you find them. They will either scan your mobile wallet’s QR code or print out codes that you need to load the bitcoin into your mobile wallet.

1. Coin ATM Radar

2. BitQuick

3. BitAccess

4. CoinOutlet

5. Genesis Coin

6. Lamassu

7. Robocoin

 

Bitcoin Wallets

To safely store your bitcoins we recommend you get yourself a private wallet. Although you can keep your coins on the exchanges like Coinbase, for security reasons you should put most of your stake in a personal wallet. The below are what we recommend.

1. Breadwallet for iOS and Android

2. Jaxx for Chrome browsers, PC’s and Mac’s

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For more info checkout our YouTube Channel

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