How to buy cryptocurrencies online:
Today we have a lot of ways to buy cryptocurrencies like bitcoin etc. But cryptocurrency exchanges are the best way to buy any kind of cryptocurrency. There are a lot of active cryptocurrency exchanges in the market today. Each exchange has its own set of procedures to buy cryptocurrency. But most of them follow a standard set of steps to buy and sell cryptocurrencies. They are as follows:
- The first step is to register yourself with your information (full name, email address and cell phone number etc.)
- The next step is to verify your identity — you normally need a passport/driving license.
- Next, you are asked to set up 2-Step verification. This helps to keep your account secure and keep the hackers away!
Setting up an account is the initial step of buying cryptocurrencies. Once it is set up, you are free to buy any kind of cryptocurrency you want. Most of the cryptocurrency exchanges are like a stock exchange. You can buy them or sell them anytime you want.
Buying cryptocurrencies from an ATM:
This is rather a new method of buying bitcoin. There aren’t a lot of bitcoin ATM’s at present, but if you’re living in a big city then this is the best way to buy them. This does not require creating an account. It’s more like a cash withdrawal from an ATM.
- Find a Bitcoin ATM near you
- Go to the ATM and verify your identity (this is only required at certain ATMs)
- Some ATMs ask for a phone number. If it does, enter your phone number.
- The ATM will send you a text message with a code; enter the code into the ATM
- Provide your cryptocurrency wallet address if you have one. If you don’t have one, the ATM will create a new cryptocurrency wallet for you.
- Put your cash into the ATM
- Then, the ATM will send your crypto to your cryptocurrency wallet
- The ATM prints your receipt