Where to Buy Bitcoins Online – Turn Your Computer Into A Crypto Machine
By now, you have probably read my 1st 2 lessons:
And if so, by now, you are probably ready to start investing in bitcoin…
And the big question we need to help you with today is where to buy bitcoins online…
So let’s get you help with that.
Where To Buy Bitcoins Online – An introduction
There are literally hundreds of places you can buy bitcoin, some easier than others.
But for the most part, unless you live somewhere like The Philippines, you cannot simply just go to a shop and buy them.
You can get an account with Coins.ph and if you are in The Philippines, then you can go to a number of different shops including 7-11 or Cebuana and get your bitcoin there. I will do a post about that too and until then you can click here to get a Coins.ph account.
Bitcoin is normally bought from online bitcoin exchanges.
A great resource to help you get started is a website called Buy Bitcoin Worldwide.
If you visit their website, you can select your country and the payment method and it will give you a list of options to choose from.
This is actually a great resource and will also give you advice about buying bitcoins if you scroll down their page.
You can choose any bitcoin exchange you want, and each one has its advantages and disadvantages, it’s good and it’s bad.
Some have restricted access depending on where you live, so I will recommend one for you here today, that I have personally been using and no issues with it.
Where To Buy Bitcoins Online – Coinmama
Coinmama is a site that I have been using for over a year.
You can access it by clicking on the banner or by clicking here
What’s great with Coinmama is that you can buy bitcoin instantly with a debit card or a credit card.
Here are your step-by-step guidelines
Click here to access Coinmama
Here you can see the full-page and the placement of the button:
“Join Coinmama today and become part of the digital revolution”, says their tagline…
Once you click on the little blue signup button, you will be taken to another page where you must enter the following details to their site:
A working email address: (make sure it is correct as they will send you an email for verification purposes)
A password: (don’t make it an easy password as this site handles your money. If you need a password generator you can find one here)
If you are one of those people who struggle to remember passwords, then you will love Lastpass, it is a password reminder system. I have used it for years. I never have to remember a password. Lastpass does it for me.
First name / Last name: This should be the same name as on your ID as you will need to verify later
Country of Residence: Select your country from the drop down box
Create Account: Click on the ‘create account’ button and then check your email and follow instructions.
This is a copy of the form you will see:
Where To Buy Bitcoins Online – Coinmama Verification
Once you have completed the above registration process, the next thing you must do is complete the verification steps and complete your profile.
Verification is part of what is known as KYC or Know Your Customer.
Wikipedia clarifies KYC here:
Know your customer (alternatively know your client or ‘KYC’) is the process of a business verifying the identity of its clients and assessing potential risks of illegal intentions for the business relationship. The term is also used to refer to the bank regulations and anti-money laundering regulations which govern these activities. Know your customer processes are also employed by companies of all sizes for the purpose of ensuring their proposed agents, consultants, or distributors are anti-bribery compliant. Banks, insurers and export creditors are increasingly demanding that customers provide detailed anti-corruption due diligence information.
So verification, whilst it might be a pain in the ass, is a serious requirement and something that we need to comply with.
Once you are logged into your Coinmama account, you will see the ‘verify account’ and ‘my profile’.
Make sure you follow the instructions to get at least ‘level 1’ verification, which will give you up to $15,000 of transactions.
Way more than enough for you to get started with.
If you get stuck with this, you can get help from Coinmama here
Where To Buy Bitcoins Online – Buy Bitcoin
Now we will proceed to actually buy bitcoin.
Make sure you are still logged in to your Coinmama account and look in the left hand menu and click on the ‘buy bitcoin’ tab.
Another page will open (see image below):
You can click on the $100, $250, $1000 or $3000 boxes. Minimum purchase is $100. (Please note that the btc amounts shown will change all the time depending on the current bitcoin price)
If you want to purchase a different amount from those 4 options, then scroll down a little further until you see:
Here you can select the amount you want to buy, by scrolling the little blue dot, or by changing either the btc amount or the USD amount. Again minimum purchase is the equivalent of $100
Once you have decided and selected the purchase amount, then click on the blue ‘Buy BTC’ button.
Last Step – Where To Buy Bitcoins Online – Payment
The last step is to enter your wallet address. This is needed so that Coinmama can send the bitcoin you buy to your own personal wallet.
If you do NOT yet have a wallet, I will create another post very shortly to explain how to do that.
Make sure that you copy your wallet address correctly as once Coinmama send it, if it is not correct, you will lose your bitcoin forever. It is NOT refundable.
Then lastly click on the “Go To Payment’ button and there you will be asked for your credit or debit card details and follow the instructions.
It will take a short while for the transaction to complete and you will be notified once everything has finalized.
Where To Buy Bitcoins Online – Conclusion
So as I stated earlier, you can buy your bitcoin anywhere you want. There are many different ways. You do not need to buy your bitcoin with Coinmama.
And please note in full transparency, if you do buy bitcoin through the link I gave you, I will get a commission.
If you simply can’t stand that, then do not follow the instructions above.
However, if you are ok with that (consider it payment for writing this article), then Coinmama could be an easy way for you to buy bitcoins with credit card instantly.
If you need help with this, you can contact me here and I will do my best to get you set up right.
Don’t let the process scare you, it is like anything else. The 1st time yo do it, it can be a bit intimidating, but after a while, you will know how to do it.
You can also get help at my Facebook group here
I am so excited for you as you start the process of investing in bitcoin. You will soon find it an exciting and profitable journey.
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This post ‘Where To Buy Bitcoins Online – Turn Your Computer Into A Crypto Machine’ was written by Tim Bennett exclusively for Bitcoin Training Camp © 2018