If you haven’t been watching lately, the price of Bitcoins are going up and up and up—surging! I watched Bitcoin go from $840 to roughly $1,000 in about two weeks. This blog will show you exactly what I did to buy my Bitcoins and get in on the action.
Buying Ain’t Easy!
Let me just say, buying Bitcoins is not the easiest thing to do, well it wasn’t for a rookie like me anyway. Also, there are some serious fraudsters in the Bitcoin world. So you want to avoid these folks and websites literally at “all costs.” Having said that, I tried several of the top Bitcoin platforms that allow you to buy Bitcoins. It was very frustrating!
CoinMama was one of the platforms that I tried and then finally succeeded with Coinbase. Which many refer to as the top online platform for purchasing Bitcoins. Below are the steps I took to join Coinbase and buy bitcoins with Coinbase.
How to Buy Bitcoins with Coinbase
1. Join of Course
This step goes with out saying, first, join Coinbase by clicking here. It’s free.
2. Verify Your Email
As with most every other account that you create on a website, you need to verify your email.
3. Add and Verify a Payment Method
Next you will need to add a payment method(s). You can use bank accounts, credit cards and PayPal.
Best Bet is Credit Card or Bank Account
Personally I had no luck with PayPal, just my credit card and bank account. But not before being locked out of my bank account and credit card accounts. However, it was easy to correct. The easiest option for me ended up being my credit card.
Enter Your Information Exactly as It Appears on Your Profile
When I first attempted to add my credit card, it would not go through. I tried repeatedly. Then I found the issue. I was not entering my address exactly as it appeared on my credit card profile. For some reason, my address appeared on my credit card account with my apartment number first. As soon as I corrected the issue, the card was added to my Coinbase account.
Verifying Your Account
Verification: For both my banking account and my credit card account, I had to verify them before use. This simply involved Coinbase making two small deposits into my accounts, and then me entering these amounts in my Coinbase account. These two small deposits were almost instant with my credit card, but took days on my banking account.
In Case You Get Locked Out
IF your account gets locked in the verification process, simply call your bank and/or credit card company and have them unlock it. Again, using my credit card was easier. They unlocked my account and sat with me on the phone while I verified my account through Coinbase. My second credit card went through flawlessly.
*Note, when you verify your credit card, you can buy Bitcoin instantly, but you will have lower daily buying limits. When you verify your bank account, you can buy more Bitcoins per day, but the transaction takes longer to process (a few days).
When you are getting started with Bitcoin (or Etherum, another good cryptocurrency to look into), I recommend being conservative with your first purchase. Don’t dump your children’s college fund into your little investment project, spend just a little to watch and learn, McDonalds money as I call it. A little may be $50, $100, $500, $1000, whatever you can afford. Then, just watch what happens.
Click here to join and buy Bitcoins with Coinbase.