One of the first questions we often hear from beginners is “How do I buy Bitcoin?” This guide provides some answers by walking you through account setup, contributing funds, and buying Bitcoin (or other currencies). In this example we use Coinbase, a well-known and regulated exchange based in San Francisco. If you’re in a country that Coinbase doesn’t serve, try a Google search for your specific country. That said, let’s jump into it.

1. Sign-Up

To get started, navigate to https://www.coinbase.com/signup. Make sure you navigate directly to the site and that it is secured by “Coinbase, Inc.” This can be found next to the URL in your browser.

2. Verify Email

After submitting the registration form you need to verify your email address. Do this by checking your email and clicking the verification link.

Step 2: Email Verification
An message verifying your email address will be sent.

3. Login to Account

You can now login to your account.

Step 3: Coinbase Dashboard
After logging into your account you will see the dashboard view.

4. Set Up 2-Factor Authentication

Coinbase will recommend that you add a phone number and set up 2-factor authentication. This is an important security measure that protects your account by requiring two forms of authentication to access your account-your password and a unique number sent to your phone. If hackers steal your password they will also need access to your phone, providing an extra layer of security.

Setting up 2-factor authentication is easy. Simply add your phone number and a text message will be sent to your phone. Enter this code in the next screen and you’re done.

Phone Setup

2-Factor Authentication
Enter your cell phone number and verify the text message code to setup 2-factor authentication.

Two-factor authentication can also be setup using an authentication app, like Google’s Authenticator. This is thought to be more secure, but it can be a bit more cumbersome, especially when you upgrade your phone. For beginners, using a phone and text messaging is usually sufficient.

5. Add a Funding Source

To purchase Bitcoin or other cryptocurrencies, you will need to add a funding source. This can be a credit or debit card, bank account, or a wire. The fastest method for an instant purchase is using a credit card. However, daily buying limits are lower and fees are higher.

Entering a bank account will allows for much larger daily limits but requires a bit more time to authorize the account.  In this example we added a credit card for instant purchase of Bitcoin.Adding a Funding Source

Verifying Funding Source

6. Verify your Identity

A driver’s license or ID can be used to verify your identity. In countries outside the United States, other options may be available. By verifying your identity you will have access to larger buying and selling limits.
Verify Identity

7. Buy Bitcoin with a Credit Card

Now that you’ve created an account, added a funding source, and verified your identity, you can purchase Bitcoin, Litecoin, Etheruem, and other cryptocoins using Coinbase.
Buying Bitcoin on Coinbase

Disclaimer

Coinbase is San Francisco based company that provides an online platform for purchasing Bitcoin and other cryptocurrencies. Blackchain is not affiliated with Coinbase.