How to Buy Bitcoin with Coinbase – Step by Step Tutorial

You’ve probably heard of Bitcoin, the popular cryptocurrency. But have you ever heard of altcoins? If the idea of digital currencies is new to you, then you’re in for a fun ride.

The cryptocurrency world is extremely vast and full of different coins and currencies. Given the vast variety of choices, it can be hard to know where to start. One of the best ways to understand it all is by learning about the different coins and their characteristics.

This article will walk you through how to buy Bitcoin in less than 10 minutes. You’ll learn about the two most popular ways to purchase Bitcoin as well as some of the best exchanges to buy it. Keep reading to discover everything you need to know.

What is Bitcoin?

Bitcoin is a type of digital currency created in 2009 by a mysterious person using the alias Satoshi Nakamoto. No one knows who Nakamoto is, or if it’s even a person, but Nakamoto’s design has proved to be extremely influential.

Bitcoin is not backed by a government or any other central authority. Instead, it is supported by a network of users who collectively maintain and verify transactions on the network.

Bitcoin is a decentralized currency that lives online – there is no physical coin or note. It is created, stored, and transmitted using software known as a “wallet.”

Bitcoin can be used to purchase goods and services, and can also be exchanged as a digital investment. Most importantly, it can be a reliable source of passive income.

The first step to getting involved with Bitcoin is to choose a wallet. There are many different types of wallets, each optimized for different use cases.

How to Buy Bitcoin Instantly With a Credit or debit card

The most common way to purchase Bitcoin is by using a credit or debit card. The fees charged by these payment processors are often quite high, and many people prefer to use alternative payment options.

However, using a credit or debit card does give you the quickest way to get started with Bitcoin. You can generate and print your wallet’s address instantly using a card terminal or scan the card using your smartphone.

Keep in mind that not all exchanges accept cards. Before buying Bitcoin, you’ll need to read the reviews and make sure the exchange you choose is approved for online purchases.

All you need to do is find a trustworthy exchange, load up your wallet with some Bitcoin, and you can instantly sell it for cash.

How to Buy Bitcoin With Cash or ACH transfer

This method is suitable for people who already own Bitcoin. Instead of buying it, you will sell your existing stock to fund your purchase.

Buying Bitcoin with cash or a bank ACH transfer has some advantages over buying with a credit card. The primary advantage is speed — you will usually complete the transaction within a few minutes. The method also has low fees compared with credit card purchases.

However, this method does have its disadvantages. For one, it’s only suitable for people who own Bitcoin already. This is because you need to have a Bitcoin wallet in order to receive the cash or ACH transfer.

Also, the method does not come with instant gratification. You will have to wait for the ACH to clear before you can instantly sell the Bitcoin you received.

How to Buy Bitcoin With Coinbase

Coinbase is one of the most popular ways to buy Bitcoin online. It’s like a traditional online brokerage firm, only with a twist – it also functions as an exchange.

Coinbase is used by millions of people around the world to buy and sell Bitcoin. It’s also one of the best platforms to get started with as an investor.

One of the biggest advantages of Coinbase is that it’s one of the only exchanges that offers instant buying of Bitcoin with a credit card.

If you’re looking to get started with Bitcoin but don’t want to mess around with the technical stuff, this might just be the perfect platform for you.

How to Buy Bitcoin With a Wire Transfer

Buying Bitcoin with a wire transfer is another option for people who already own Bitcoin.

Similar to the cash method, you will send cash to an address provided by the seller. However, this method involves a third-party. One of the most popular services for this is BitBtn.

Similar to Coinbase, you can link your bank account or debit card to BitBtn and use it to buy and sell Bitcoin. BitBtn is one of the only services that allows you to buy Bitcoin with a wire transfer directly.

Unfortunately, this method also comes with its disadvantages. One of the biggest issues with it is that you need to know the seller. If you don’t know them, you can’t go through a third-party service like BitBtn.

Best Exchanges to Buy Bitcoin

There are many different exchanges that you can use to buy Bitcoin. However, not all of them are created equally. Here are a few of the most popular exchanges, along with information on how to buy Bitcoin on each one.

Coinbase: Coinbase is one of the most popular exchanges in the world, and for good reason. It’s easy to use, offers solid security, and is one of the only exchanges that offers instant buying of Bitcoin with a credit or debit card.

When it comes to differences between Coinbase and other exchanges, there aren’t many. Coinbase is probably the safest and most predictable option when it comes to buying Bitcoin.

Kraken: Kraken is regarded as one of the best exchanges to buy and sell Bitcoin. It’s based in the US, like Coinbase, and offers easy trading across a wide array of Crypto and traditional assets.

Bitfinex: Bitfinex is another popular exchange that’s based in the US. Like Kraken and Coinbase, it offers easy access to a variety of cryptocurrencies and commodities.

Bitstamp: Bitstamp is one of the oldest and most trusted exchanges in the business. It’s based in Europe and is great for Americans who want to buy European coins.

Conclusion

In this article, we have gone over 5 simple steps on how to buy Bitcoin with a credit or debit card, cash, or bank account. There are many different exchanges that you can use to buy and sell Bitcoin, and each one has its advantages.

Before purchasing any cryptocurrencies, you need to carefully evaluate your investment plan, because this new technology is still relatively new and many investors are losing money every day.

Don’t fall into the trap of spending money you can’t afford to lose, and most importantly, don’t steal Bitcoin. Instead, learn how to buy Bitcoin the right way, and you’ll be well on your way to becoming a cryptocurrency millionaire.

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