Read an important announcement about Bitcoin from Bitcoin.com.
So, you heard about Bitcoin Core (BTC) from a friend or maybe from a news post. You may have even read some of our articles on how to get started using Bitcoin Core. Now, you want to buy some BTC but you are not sure how to actually do it?
Once you have downloaded a bitcoin wallet, all that remains is to actually purchase your first Bitcoins. Read on to see just how easy it is to buy Bitcoin with either a credit card or with funds directly from your bank account.
(Update: Bitcoin Core is less usable as money due to much higher fees and delayed transaction times. The Core team has also expressed an interest in keeping these fees high since they view BTC as a “store-of-value” and not something to be transacted on a daily basis. In contrast, Bitcoin Cash’s transaction fees cost pennies and payments can be validated even with zero confirmations. These facts make BCH the ideal cryptocurrency for sending and receiving money anywhere in the world.)
Two Different Ways to Buy Bitcoin Core on Bitcoin.com
Basically, there are two ways to buy Bitcoin Core online: the fast way and the cheaper way. The fastest way to buy BTC is with a credit card. This process takes only a few minutes but there are fees. A cheaper, though considerably more involved method is to purchase Bitcoin on an exchange. Keep reading for a step-by-step guide to both of these methods.
How to Buy Bitcoin Using a Credit Card
Bitcoin.com has partnered with Simplex to make it easy to buy Bitcoin Core using a credit card. Follow these steps to securely complete your purchase:
Step 1: Input your Bitcoin address and select a desired purchase amount
Visit the buy Bitcoin page. Enter the amount of BTC you wish to purchase. Then, specify to which Bitcoin address your purchased Bitcoins will be sent. To do this, open your Bitcoin Wallet, copy your Bitcoin address and paste the address into the “Bitcoin address” field. The Bitcoin you purchase will be sent to this address. Remember, you can always download a Bitcoin wallet for free.
Step 2: Input Billing Info
Once you have inputted your Bitcoin Core address and chosen a purchase amount, click the button to continue. From here you will be directed to Simplex’s checkout form. Simply follow the steps, input your information, and voila! Your purchased Bitcoins will be sent to your Bitcoin Wallet address. This may take anywhere from ten minutes to more than one hour.
It’s incredibly easy to purchase Bitcoin Core online with a credit card. It’s also fast and secure! Next up, how to buy Bitcoin on an exchange.
How to Buy Bitcoin on an Exchange
A bitcoin exchange is an online marketplace where users can buy and sell Bitcoins after setting up an account on the exchange. You will need to choose an exchange based on your country of residence and desired purchase currency. Also, be sure to read about how to choose the right Bitcoin exchange based on your specific needs. Here’s a basic run-down of how to buy Bitcoin on an exchange:
Step 1: Choose Exchange
Choose an exchange by entering your country of residence and then selecting from our list of approved exchanges.
Step 2: Setup Account
Setup an account on the exchange. Depending on the exchange, various forms of identification may be needed.
Step 3: Connect Bank
Connect one or more bank accounts to your exchange account. Any buys or sells you make will be deducted from or deposited to the chosen bank account.
Step 4: Select Amount to Purchase
Once you have created an account on your chosen exchange and added a bank account. Navigate to the exchange’s Buy feature: select an amount of BTC to purchase, enter your bitcoin address, confirm purchase, and wait for the purchased Bitcoin to reach your wallet.
Buying Bitcoin is a Breeze!
Deciding to buy BTC using a credit card or on an exchange will depend on how quickly you want to complete the transaction, what fees you are willing to pay, and also how willing you are to register with an exchange (which may or may not require verifying bank details or your identity before making the purchase). Regardless, Bitcoin.com has the tools you need to make your dreams of owning Bitcoin a reality. Once you acquire some Bitcoin Core, be sure to follow the price or take advantage of some our cool Bitcoin tools.