Buying Bitcoins is becoming more and more popular as an investment, the Bitcoin price has reached unimaginable levels, and Bitcoin trading is becoming more and more mainstream. You want to join the trend and buy Bitcoins? “How do you trade Bitcoins?” “Where can I buy Bitcoin safely and directly?” “What’s the best platform to trade Bitcoins?”
Below you will find detailed instructions on how and where to buy Bitcoins. We also show you the best brokers and platforms, buying experiences and reviews to make your investment in Bitcoins as easy as possible.
eToro- the social trading community
1. Create an account at eToro
- First and last name
- Phone number
2. Verify your account
Before you can trade Bitcoin on eToro, you will need to provide some personal information and verify your identity. When logged in, you can always go back to the verification process by clicking on Settings in the lower left corner and then go to the Account tab.
3. Deposit money & buy Bitcoin
Once eToro has verified your identity, your first deposit can be made. This is done using the blue button at the bottom left of the screen (Deposit Funds):
The following payment solutions are available:
- Credit / Debit Card
- Bank transfer
Once the money appears in your account, you can purchase Bitcoin through eToro. This is easily done at the top of the screen using the search bar: Enter Bitcoin and click on the TRADE button.
Buy Bitcoin with virtual money at eToro
Newcomers are advised not to invest their hard-earned money immediately in Bitcoin, but to explore the trading platform with virtual money. For this, click on REAL under your username and select Virtual Portfolio from the drop-down menu. Then confirm your choice by clicking on “Go to Virtual Portfolio”. There you can buy Bitcoin and start trading before investing in real money. You are provided with $100,000 in virtual money for this purpose.
Buy Bitcoin at 24option.com
Founded in 2009, the 24option.com trading platform is the second most popular place to go -after eToro- for buying Bitcoin. Below, we would like to show you step by step how you can buy Bitcoin on 24option.
1. Create & verify account on 24option.com
On 24option you have to fill in a form with your name, e-mail address and telephone number. In the following window, the data must be entered and then submitted by clicking on Start Trading!
Note: The use of a secure password, which is not easy to guess, is recommended. Nowadays, everyone should use a password manager (1Password, Dashlane, etc.). They help you safely store your passwords for all websites. Continuing on 24option, you will be asked for some personal information, including nationality, date of birth, etc. Once all questions have been answered, you can make a deposit (a minimum of 100 euros).
The following means of payment are available at 24option.com:
- Credit card
- Bank transfer
- Instant bank transfer
For a traditional bank transfer, you must first contact the 24option support; all other means of payment can be used immediately to top up your account. Finally, it is necessary to verify your identity. Detailed instructions can be found in this PDF.
2. Buy Bitcoin on 24option.com
Once the account is verified, investment in Bitcoins can begin. It is advisable to select “Cryptocurrencies” from the filter on the left-hand side so that only those currencies are displayed; and then you can select Bitcoin:
Please note that you do not buy Bitcoin on 24option as you do from some other websites. It is a trading platform, so you should have some experience in this area. For the beginning, it is a good idea to try out the free demo account to learn how to use the platform. Beginners should also watch 24option’s webinars to gather valuable information.
Buy Bitcoin directly on Coinbase
Manage, send, receive and buy Bitcoins and Ethereum: Coinbase offers these functions integrated in a web wallet. Coinbase also provides and attaches great importance to security aspects.
Web-wallet Coinbase: Create account
An account with Coinbase is settled within a few minutes, and according to Coinbase almost 6 million already have an active account with the exchange. The account is free and can be used directly after signing up. When choosing a password, we recommend using a long and cryptic one.
When registering, the password is required to be at least 8 characters long, but we recommend a password with at least 32 characters, one that does not make a meaningful word and consists of letters, numbers as well as special characters.
Tip: Since these long and meaningless passwords are difficult to remember, we recommend the use of a password manager, such as the free software KeePass (available for Mac, Windows and Linux, and with the help of other ports also on iOS, Android and Windows Phone).
Verification by Coinbase
Before buying Bitcoins or Ethereum on the exchange, Coinbase has to carry out another security step: the verification of your identity. This is not only another nececessary step, but also a security feature in reputable Bitcoin trading. Verification is very simple:
- Have your identity card, passport or driving licence ready
- Show ID document in webcam
- Wait 1-2 minutes
Tip: If no webcam is available, verification via smartphone is also very easy. Download the Coinbase app (iOS or Android) and photograph the ID document via smartphone.
Buying Bitcoins or Ethereum on Coinbase
- by creditcard
- by SEPA
Coinbase offers the possibility of buying Bitcoins or Ethereum directly. There are two ways to do this: The advantage of buying Bitcoin by credit card is that the Bitcoins or Ethereum are credited directly to the account. When paying by SEPA credit transfer, the transaction can take a few days, but is cheaper, as no credit card fees are due.
The first step then for trading on Coinbase as soon as possible could be adding a credit card, but there is a limit to your transactions as long as the verification process has not been completed.
The Coinbase web wallet is completely free. Fees in general are based on your location. Overall, the fees are very transparent and fair. With other providers, significantly higher fees are often due. And the Bitcoin buying price tends to be one of the lowest.
Is Coinbase safe?
Coinbase is the world’s largest Bitcoin, Ethereum and Litecoin wallet and exchange. Coinbase was founded in San Francisco (USA) in 2012. Coinbase is not only very popular in the U.S., but is also active in over 30 countries around the world, for example in Europe, Canada and the U.K. In our opinion, Coinbase is one of the safest exchanges.
Coinbase is very innovative and updates the Coinbase website regularly. Coinbase also offers many security features such as 2-factor authentication. Of course, Coinbase is a Hot Wallet and therefore not as safe as a Cold Wallet.