*This is not financial advice. This is a guide to help people out on getting started with crypto and should not be misconstrued as me giving you advice on how to spend or invest your money.*Getting Started and Purchasing Your First Bitcoin, Ethereum, or Litecoin In Coinbase
The most popular (and by far simplest) place in the United States to buy your first cryptocurrency is Coinbase. Why you ask? They’re a regulated company operating within the United States. (By the way, if you click that link to sign up for your account and spend at least $100 on cryptocurrency within 180 days, you’ll get $10 USD and so will I!)
Before you get started and buy anything, you first need to verify your identity. When everything’s been verified, you’ll land on your dashboard:
Here, you can view the charts on Bitcoin, Ethereum, Litecoin, and Bitcoin Cash, as well as a quick history on cryptocurrencies bought, sold, sent, and received. But before you can buy anything, you’ll need to link your bank account or credit card.Linking A Bank Account or Debit/Credit Card
Click the “Settings” button. Then, click Linked Accounts, and then click “Link a New Account”.
A popup like this will appear:
You can use your credit/debit card, or you can also link your bank account. Using your credit or debit card to purchase is quick, but they add an extra fee. Your bank account usually takes about a week, but there’s fewer fees.
In order for Coinbase to verify that you’re actually using an authorized account, they’ll do two small verification transactions (under $1 each). This may be instant if you used your card, or it may take a couple days for your bank account, but if you have online banking, they will generally show up under pending transactions.
Note: Your bank or credit card may deny your transaction from Coinbase initially and place a freeze on your account. It’s a toss-up. Before you proceed to buy anything, I’d recommend calling the...