“How to Buy Bitcoin” google search is breaking the internet as confirmed by recent Google trends. Do you also want to buy your first Bitcoin but always hesitant to take the first step, due to intricate complexities involved in buying and safely storing cryptocurrencies. We at Bloqtimes totally understand our reader concerns. Below you can find step by step instructions to help buy your first Bitcoin and that too in just a few minutes. Today you will be pushed into the era of digital cryptocurrencies so tighten your seat belts and just enjoy the journey.
Coinbase App Download
First step to buy Bitcoin is to download Coinbase app from iOS App Store for iPhones and Google Play Store for Android phones. In case you want to create account from computer then click here and follow instructions to create a free Bitcoin account. Follow below screen shots to easily understand how to download and install coinbase app. Below screenshots are for Apple iphone but similar process will apply to any other smart phone.
1. First open App Store and search “Coinbase” in the search window.
2. Once Coinbase app is visible in search results, click on “GET” to download the Coinbase app in your iphone.
3. If you are not logged in already, it might ask for your apple ID and password. Authenticate by entering your ID and password, and then click on “Install”.
4. Once Coinbase app is completely downloaded on your phone, click on “Open” to open coinbase app.
5. Below screen will open showing coinbase app home screen.
Coinbase Account Creation
1. Since, you are doing it first time you will have to create a Coinbase account by clicking on “Sign Up”. Now enter your details in the red box areas like your first name, last name, your email address and your password. Make sure your password is complex and safe but easy for you to remember. Make sure you never disclose your password to anyone otherwise your Coinbase account can be hacked and your funds will be stolen.
2. Once you have entered all your details, select checkbox shown below in screenshot and then click on “Sign Up”.
3. Once Step 2 is complete, coinbase will send you an account authentication email on the email address entered in Step 1. Open your coinbase email and click on authentication link.
4. Once you have authenticated your account, your app screen will change to below screen. Now, click on “Select Your State” and choose your home state.
5. Once you have selected your State, click on “Continue” to complete your account creation process.
Phone Number Verification
Basically, now your coinbase account has been created. But to buy or sell Bitcoin, you will have to further finish up your account creation process by adding your phone number and bank account to your coinbase account.
1. So, click on “Complete Account Setup”.
2. Now click on “Verify Your Phone Number” and enter your 10 digit phone number. Now click “Next”.
3. Coinbase will send a 6-8 digit verification code to the phone number you provided in Step 2. Enter verification code and click “Confirm”.
Bank Account Setup
There are 3 ways to buy Bitcoin using coinbase app. Either you can add your bank account to your coinbase account to directly purchase Bitcoin from your bank account funds. Or you can purchase Bitcoin using a Credit or Debit Card. We are going to show you how to buy Bitcoin using a Bank account. Most people use bank account to buy Bitcoin as fees are much less compared to buying using a Credit card.
1. Once your phone is setup, click on “Add a Payment Method” to setup your bank account with your coinbase account.
2. Now click “Bank Account” which is the first option on the screen.
3. Now choose your bank.
4. Enter your bank id and password to authenticate its you and click “Submit”. For security reasons this might take you to another screen where you have to enter answers to your bank account security questions.
5. Once you have entered all your security questions correctly below screen will show up confirming your account has been successfully linked to Coinbase. Now click continue to start investing.
6. Now click on “Invest Now” which will take you to your Coinbase account.
How to Buy Bitcoin
Great, so far so good! Now is the time to buy your first Bitcoin. Or if you don’t like Bitcoin, you can also buy Bitcoin Cash, Ethereum or Litecoin from Coinbase app. We are going to show you how to buy Bitcoin but same process will apply to other cryptocurrencies.
1. Now click on “Your Accounts” to go to your Bitcoin wallet or Bitcoin account.
2. Since, you have not purchased anything yet, so all your crypto wallets are showing ZERO balance. Now click on “BTC Wallet”.
3. Now click on “Buy”.
4. Now enter the amount in USD for which you want to buy Bitcoin. An equivalent BTC which can be bought for your entered US dollars will be shown based on the current Bitcoin-Dollar(BTCUSD) prices. Once, you have verified how much Bitcoin you want to buy click on “Buy Bitcoin”.
5. Next screen will show all your transaction details for final verification like current Bitcoin buy price, when will the Bitcoin be available in your account, Coinbase fees and amount of dollar you are spending to buy Bitcoin. In case you have to change something, this is the step to verify and change it. Once you are sure about transaction click “Confirm Buy”.
6. Hurray! Your Bitcoin buy is initiated and you have just bought your first Bitcoin. Now click on “Go To Accounts” to go back to your Bitcoin wallet.
7. You can verify that Bitcoin buy has been successfully initiated and is currently pending. Once Bitcoin are added to your account Coinbase will send a confirmation email to your registered email address. Congratulations and welcome to new era, you have just learnt how to buy cryptocurrencies.
Its always recommended to keep your investment safe by setting up 2-factor authentication on Coinbase, we will soon create a detailed article on this topic. If you find our article easy then let us know in the comments section. What other exchanges, platforms have you used to buy cryptocurrencies, do let us know.
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