Buying and selling Bitcoin might seem a daunting task to some users. However, when you know the right method to do so, you will be able to do it within a few minutes. The methods given below will let you have deeper insights into how you can buy Bitcoins without having to do much. These methods are not only applicable to the residents of the US but to the users of other countries as well. So, before we go ahead, let us shed some light on what Bitcoin is.
Speaking about Bitcoin, we can say that it is a type of cryptocurrency that is mined with blockchain technology. A cryptocurrency is a form of digital currency that you do not own physically but there is a Bitcoin wallet that holds all your digital currencies in one secure place. With Bitcoins, you can simply invest in the stock market or buy yourself assets.
The most accurate way to buy Bitcoins
Today, we are going to discuss the most appropriate as well as the easiest way to buy Bitcoins in a stepwise way. Make sure you follow all the points mentioned here so as to avoid even the slightest chances of hurdles:
Step 1- create a wallet
In the first place, the thing you need to do is choose a Bitcoin Exchange platform and register yourself on it. While you complete the registration process, you will be able to create a crypto wallet for yourself. The purchased Bitcoins will then be transferred to this wallet.
Step 2- Verify your account
According to the U.S. Securities and Exchange Commission, one needs to verify his account before he could continue to use his account. For this purpose, you must verify your identity by presenting the required personal documents. This may include your driving license or your Social Security Number (SSN).
Step 3- you need a bank account, credit card, or debit card
Now, that you have created your Bitcoin wallet and verified your identity as well, then you need to have a bank account or a card in order to buy Bitcoins. These methods allow you to purchase Bitcoins and transfer them to your wallet.
Step 4- select a Bitcoin Exchange
Once you have your Bitcoin wallet and ready with your payment method, then it’s time to select a Bitcoin Exchange platform from where you can initiate the actual process of buying Bitcoins. There are Bitcoin ‘Exchanges’ available online that allow you to carry out any transaction related to Bitcoin. Today, Coinbase is considered the most reliable and easy-to-use exchange platform. Apart from being an easy and quick way to buy Bitcoins in the US, Coinbase is highly secured as well.
Step 5- The actual process
- Open Coinbase online Exchange platform from your web browser.
- Navigate to the Coinbase dashboard.
- And, click on the ‘Buy/Sell’ option.
- On the ‘Buying’ tab, select whether you want to buy Bitcoins or Bitcoins Cash.
- Then, you need to select the ‘Payment method’.
- Further, you need to enter the USD amount in the first space.
- This will show you the number of Bitcoins you can buy from that amount.
- Review all the details on the final page and hit the ‘Buy Bitcoin’ option.
While this is the most basic and common way to buy Bitcoins in the US, however, there are some other methods that let you do so. Apart from the method mentioned above, you can also buy Bitcoins from Bitcoin ATMs or do Peer to Peer (P2P) exchange.
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