top of page
  • daclothier

How to buy your first Cryptocurrency in just 3 easy steps?

Getting your toe into Cryptocurrency is surprisingly simple once you know what steps to follow. The even better news is there isn't that many steps to take either!

Firstly congratulations - you have made the very first step into improving your financial future by looking at Cyptocurrencies. I genuinely believe that Crypto is the greatest financial revolution of our time. I think people will look back on this time as an immense opportunity and one I count myself to be very lucky to live in.

So I'll get off my soapbox now and get into what you are actually here for, buying your first cryptocurrency!

You will need the following to get started in crypto:

  1. A computer or a smartphone

  2. Bank account ideally with a debit card not not critical

  3. A Cryptocurrency exchange account

For the purposes of this article I'm going to assume that you have items 1 & 2. However if you don't have a bank account you can still do this with a pre-paid Visa or Mastercard instead.

I'll cover both the set up for a mobile phone and a computer separately as they are slightly different. I'll cover the mobile steps first but feel free to jump to the desktop walkthrough if your prefer.

Buying your first crypto via mobile phone

I'm going to be using Coinbase through this walkthrough. For the total beginner I think this platform is brilliant. It may not have all the different cryptocurrencies there are but it has easily the best and most simple user interface for a beginner and covers the main cryptocurrencies you need to get started.

There are other exchanges like Binance and FTX which are very good but for the complete newbie to Crypto I'd start with Coinbase.

Step 1. Visit the website. From the screenshot below you will see you just need your email address to get started,

On the next screen you will need to enter some more details and choose a password.

In Crypto people will try and swindle or scam you to get your hard earned coins at some point so don't make it easy for them by using the same password for everything.

Choose a password that someone can't guess. Most of my passwords are between 10-20 characters and are a total mixture of letters, numbers and special characters. However I have a special password notepad that I write my passwords down in. This notepad I then keep in my safe (absolute true story).

Once you have entered a password click that you are over 18 (if you are not then you will speak with a parent to set something up for you). Once this form is completed just click on the Create Account button that you see below:

Once you Create account, Coinbase will then send an email to the email address you just registered with to ensure this email address to active and yours. I would continue to keep this page open in case you don't receive the email as you can always get it resend via the the Email didn't arrive? link.

Now head over to your email and you should see the Verify your email address email form Coinbase. Simply click the Verify Email Address button

You will now be redirected back to the Coinbase site and now we can get into the good stuff as your account will now be created and verified.

The first thing Coinbase will show you is the option to transfer crypto to Coinbase. As you don't have any crypto at this stage just click the "skip for now" link at the bottom of the page.

Now we are in and can get started buying our crypto! Coinbase does pick up your location from your phone and will display your local currency below. In my case I am currently in St. Lucia so it is showing my currency below in XCD (East Caribbean dollars), but if you are in the US it will probably show USD or if you are in the UK it will show GBP.

At this point you can also install the Coinbase app to your phone via the blue Install link at the top of the page if you prefer to use that going forward.

If you are interested in buying Bitcoin then its super easy you just click the blue Buy Bitcoin button.

However if you to buy something else like Erhereum or Cardano just click the blue circle with the two opposing arrows and you will be presented with the following options:

Click on the top option that says Buy crypto for cash. This will now bring up the other crytocurrencies that Coinbase has to offer.

Simply enter your preferred email address and click on the Get Started button.

Disclaimer!! I'm a Brit so my experience will be around bank accounts and exchanges I am easily able to access. If you live elsewhere it should be pretty similar but there may be slight difference so please do your own research.

7 views0 comments


Post: Blog2 Post
bottom of page