No matter what your background in education, work or life, you’ve heard of bitcoin. Whether you know what it really is or how it works, however, is another question.
That said, the beauty of bitcoin is that you don’t have to understand it all if you just want to buy a small amount of bitcoin. You can buy a few dollars or millions of dollars of bitcoin since it is available as a fractional amount.
If you’re in the US, the easiest way to get into bitcoin is by using the largest exchange – Coinbase.
5 Steps to Buying Your First Bitcoin
The process is rather straightforward:
- Go to Coinbase.com (use this referral link for $10 bonus) and create an account
- Click the Buy/Sell tab
- Enter your check card or credit card info as a payment method
- Put in an amount to purchase in USD (My first purchase was $550)
- Click “Buy Bitcoin Instantly”
That’s it. Your bitcoin will be deposited in your Coinbase wallet. You’ll see a small fee for the transaction and an additional fee for the VISA/Mastercard processing but it’s still the simplest and fastest way to get some bitcoin in your life.
From there, you can simply watch value grow (or fall). Or, you can transfer it to another exchange or a wallet.
How much was your first bitcoin or other cryptocurrency purchase for?