Buy Crypto

Buying Crypto for Beginners: A Step-by-Step Process

If you're entirely new to cryptocurrency, don't worry - buying Bitcoin and other digital assets is getting easier every year. If you navigate through the handy articles above you’ll find plenty of resources to help you make your first crypto investment.

In the meantime, here's a simple step-by-step guide for beginners:

1. Choose a Crypto Exchange or Broker: The easiest way for beginners to buy crypto is through an online exchange like Coinbase, Binance, Kraken, or Gemini. Crypto brokers like Robinhood and eToro are also beginner-friendly options.
2. Create an Account and Get Verified: Sign up for an account on your chosen platform and complete the identity verification process as required (providing ID, address, etc.).
3. Deposit Funds: Link a payment method like a bank account, debit card, or credit card to your account and deposit funds to use for buying crypto.
4. Place Your Order: Navigate to the buy section, select the cryptocurrency you want like Bitcoin ( BTC) or Ethereum ( ETH), and complete your purchase.
5. Store Securely: For enhanced security, many recommend transferring your crypto off the exchange/broker and into your own private cryptocurrency wallet.

Where to Buy Crypto

At CryptoinvestmentHQ one of the most popular questions we get from our community is ‘where can I buy crypto’? The good news is that in 2024 there are a plethora of places and platforms where you cans purchase your preferred crypto assets, each with their own pros and cons:

Cryptocurrency Exchanges

Crypto exchanges are the most popular place to buy, sell, and trade digital currencies. They operate similar to online brokerages, with an order book that matches buyers and sellers. The top exchanges for buying crypto include:

• Coinbase (best for beginners)
• Binance ( most cryptocurrencies)
• Kraken (enhanced security)
• Gemini (low fees)
• KuCoin (altcoin selection)
• Crypto.com (integrated ecosystem)

Exchanges offer the greatest selection of cryptocurrencies to buy and often have the most trading tools and features. Throughout our site you’ll find detailed reviews of the best exchanges, as well as plenty more handy guides to help you navigate your crypto purchases with confidence.

Crypto Brokers

Brokers allow you to buy cryptocurrency directly from them at set prices, without an exchange order book. Popular brokers include:

• Robinhood
• eToro
• Webull
• SoFi Invest
• TradeStation

Brokers typically have a simpler user experience compared to exchanges, making them ideal for beginners buying crypto for the first time. However, they tend to have higher fees and less trading functionality.

P2P Platforms

Peer-to-peer platforms like LocalBitcoins, Paxful, and Bisq enable direct buying and selling of crypto between individual users. This provides more privacy but also higher risk.

Bitcoin ATMs

Bitcoin ATMs are physical machines located around the world that let you deposit cash and buy Bitcoin and sometimes other popular cryptocurrencies like Ethereum or Litecoin. They provide an in-person option but often have high fees.

Best Apps to Buy Crypto

Another extremely popular way to buy crypto is through apps and in recent years the market has been flooded with a multitude of fantastic options. Keep in mind that the best crypto buying apps typically offer a combination of user-friendly interfaces, low fees, security features, and a wide range of cryptocurrencies. You’ll find the best crypto apps, including the best crypto banking apps, listed on our site, providing a reliable gateway to the world of digital currencies.

Best Crypto to Buy 2024

The cryptocurrency market is dynamic and constantly evolving; the best crypto to purchase can also be subjective and depends on your investment goals. Throughout our website you’ll again find a range of top resources that will help you to identify which crypto coin is right for you.

However, here are some of the most popular crypto coins as of 2024:

1. Bitcoin (BTC) - As the original and most well-known cryptocurrency, Bitcoin remains the largest by market cap and is seen by many as a potential store of value and digital gold. While Bitcoin doesn't offer the same technological promises as some newer cryptos, it continues to lead the pack in liquidity, adoption, and name recognition.
2. Ethereum (ETH) - The second-largest cryptocurrency, Ethereum has established itself as the leading blockchain for decentralized applications (dapps), NFTs, and decentralized finance ( DeFi). With the long-awaited Ethereum 2.0 upgrades finally rolling out, Ethereum could see increased scalability, security, and deflationary tokenomics in 2024.
3. Binance Coin (BNB) - As the utility token powering the Binance ecosystem of centralized and decentralized exchanges, BNB has a wide range of use cases from trading fees to blockchain services. Its association with the world's largest crypto exchange gives it a strong backbone.
4. Solana (SOL) - One of the fastest growing cryptocurrencies, Solana aims to solve blockchain scalability issues with its high-speed, low-cost transactions. Its proof-of-stake and unique proof-of-history consensus make it an intriguing "Ethereum-killer."
5. Cardano (ADA) - Billed as a more sustainable and scalable alternative to Bitcoin and Ethereum, Cardano or ADA is a proof-of-stake blockchain platform built from peer-reviewed research. Its focus on security and environmental-friendliness could drive further adoption.

Buying Crypto With a Credit Card

For those looking for convenience and speed, many of the top cryptocurrency exchanges and brokers allow you to buy crypto with a credit card like Visa or Mastercard. Notable platforms that accept credit card purchases include:

• Coinbase
• Binance
• Crypto.com
• eToro
• Gemini
• Kraken

The process is straightforward - you simply deposit funds from your credit card into your account, then use that balance to purchase Bitcoin, Ethereum, or any other listed cryptocurrency. Credit card deposits are typically processed instantly.

However, be aware that using a credit card to buy crypto often incurs additional fees and not all credit card issuers allow cryptocurrency purchases either. Using a credit card also adds an extra intermediary between you and your crypto assets.

How to Buy Crypto With a Debit Card

Buying cryptocurrency with a debit card linked to your bank account or funds is another popular and convenient option offered by most major exchanges and platforms. Debit card purchases are typically processed faster than bank wire transfers.

To buy crypto with a debit card, you'll first need to link your debit card as an accepted payment method in your exchange or broker account. Then you can instantly purchase up to your available debit card balance or any daily/weekly limits.

Debit card crypto purchases tend to have lower fees compared to credit cards, usually a small flat fee or a small percentage. This makes debit cards one of the cheapest ways to buy crypto quickly without dealing with bank transfers.

Just keep in mind that debit cards may have lower limits than other payment methods. But for smaller or more frequent crypto purchases, they can be extremely convenient.

Buying Crypto With PayPal

For those who frequently use PayPal for online payments, you'll be glad to know that some of the biggest cryptocurrency exchanges have integrated PayPal as an accepted payment method for buying Bitcoin and other digital assets. Major platforms that allow you to buy crypto like Bitcoin with PayPal include Coinbase, eToro, Crypto.com and BitTrue.

The process is simple - you can use your PayPal account balance or a linked bank account/debit card to make crypto purchases on these exchanges and brokers. PayPal purchases of cryptocurrency are quick and convenient.

However, buying crypto with PayPal can come with higher fees compared to other payment methods like bank transfers or debit cards. There also may be limits on how much crypto you can purchase weekly or monthly using PayPal on most platforms.

How to Get Free Crypto: Bonuses, Interest, and More

While there's no such thing as getting cryptocurrency completely for free without any effort, there are ways to earn free crypto rewards, bonuses, and passive income through various methods:

Sign-Up Bonuses - Many exchanges and platforms offer generous rewards and bonuses just for creating a new account and making an initial deposit or trade. Take a look through our website for the best current crypto rewards.

Referral Programs - Refer friends to a crypto platform and you'll often receive a percentage of their fees or a flat bonus when they sign up through your link.

Crypto Interest Accounts - Platforms like Celsius, BlockFi, and Crypto.com offer interest accounts that pay out annual returns (typically 2-10% APR) for depositing crypto like Bitcoin.

Crypto Airdrops - New blockchain projects will sometimes do marketing "airdrops" by giving away free tokens to build an initial user base.

Crypto Faucets - Websites that dole out tiny fractions of crypto for viewing ads, completing tasks, or just claiming every few minutes.

Buy Crypto With Low Fees 2024

Although exchanges, brokers, and payment processors will look to charge some level of transaction fee, your goal should be finding the lowest fee methods to keep those costs as minimal as possible- and we’re here to help!

Some tips for low-fee crypto purchases, include:

• Use a low-fee exchange (check out our guides for more info)
• Buy crypto with a bank transfer or debit card instead of a higher-fee credit card
• Use a broker that doesn't charge spread markups or commissions
• Take advantage of fee-free crypto purchase promotions or rebates that can help you buy altcoins like Ethereum without fees.
• Try a decentralized exchange (DEX) which can have even lower fees

How to Withdraw Crypto

After buying cryptocurrency on an exchange or broker, you may want to withdraw it to a private wallet that you fully control and own the private keys for. This allows you to take full custody and self-custody of your digital assets off the exchange.

To withdraw crypto to your own wallet, you'll first need to have a crypto wallet set up that can receive that specific coin or token.

Popular wallet options include:

• Mobile Wallets: Coinbase Wallet, Trust Wallet, Exodus, etc.
• Desktop Wallets: Electrum, Atomic Wallet, Exodus, etc.
• Hardware Wallets: Ledger Nano, Trezor, etc.

From your exchange account, go to the withdrawal page and select the cryptocurrency you want to withdraw along with the amount. You'll then need to enter your wallet's receiving address - this is a long string of letters and numbers that identifies your wallet.

Double and triple check this address, as crypto withdrawals are irreversible if sent to the wrong address. Most exchanges also have withdrawal fees so make sure you double check that information.

Once confirmed, the crypto should arrive in your personal wallet within 10-60 minutes depending on the network. This transfer moves it fully off the exchange.

How to Sell Cryptocurrency

Just as you can easily buy crypto on exchanges and brokers, these same platforms allow you to cash out and sell your cryptocurrency holdings when you're ready. The selling process looks like this:

1. Transfer Crypto to Exchange: First, you'll need to deposit the crypto you want to sell into your exchange account from an external wallet if needed.
2. Place a Sell Order: Navigate to the sell section and select the cryptocurrency and amount you wish to sell. You can typically choose to sell at the current market price or place a limit order.

Buy Crypto FAQs

What is the cheapest crypto to buy now?

Some of the cheapest cryptocurrencies by trading price include Dogecoin (DOGE), Shiba Inu (SHIB), Stellar Lumens (XLM), and other well-known projects. However, a low token price doesn't necessarily mean it's undervalued - market cap is more important.

Do you need ID to buy crypto? Yes, most regulated cryptocurrency exchanges and brokers require you to verify your identity with a government-issued ID like a driver's license or passport before allowing you to buy and trade crypto. This is for anti-money laundering regulations. For help buying crypto like Ethereum without ID follow this guide.

Is now a good time to buy crypto? Yes! Now is the perfect time to start buying crypto as all market analysis and trends suggests we are in a ‘bull’ market which typically means that prices are rising fast. However, whether you decide to buy crypto now t ultimately depends on your investment strategy and risk tolerance..

Is buying crypto safe?

Buying cryptocurrency is safe if you use a reputable, regulated platform and securely store your assets in your own wallet. For added confidence, be sure to check out our handy guides to buying crypto securely and for avoiding crypto scams.

How much crypto should I buy? This answer really does depend on your budget and how much you are willing to invest. It’s always a good idea to think about your crypto investment strategy and both your short and long-term goals. The guides listed in this category, carefully written by our expert crypto writers, will help you make informed crypto investment decisions.