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Sunday, December 5, 2021

HOW TO BUY YOUR FIRST BITCOIN


You’ve been hearing a lot about Bitcoin and you want in. But how do you start? Well you could type in how to buy Bitcoin in Google and the first thing will happen is you get inundated with a whole bunch of ads, and when you finally get some articles that look like they might be good but when you read them they’re talking about wallets and the steps are confusing and it just doesn’t make a whole lot of sense.

So how do you start? In this video, we’re going to walk through step by step how to buy your first bitcoin starting completely from scratch. This channel is dedicated to helping you start out with investing in Bitcoin and other cryptocurrencies.

There are many ways to get started so please subscribe and hit the bell icon to be notified of more ways you can invest and earn cryptocurrency. One of the easiest ways to start investing in Bitcoin and other cryptocurrencies is using Coinbase. Coinbase was one of the first cryptocurrency exchanges and it’s been around almost as long as Bitcoin has.

And you can see here on their home page they have a deal where you can get five dollars in free Bitcoin when you sign up, however, if you use the signup link in the description below this video you can actually get ten dollars in free Bitcoin from Coinbase. Okay, so when you click that signup link you’re going to get a page that looks something like this saying you’re invited to Coinbase.

And you can see here open an account today and if you buy or sell$100 or more of crypto you’ll receive ten dollars worth of free Bitcoin. So starting the signup process is pretty easy, put in your name, email, password etc.

Once you click on create account Coinbaseis gonna ask you for a bit more information and then for a photo of your government ids such as a driver’s license or something similar. This is to comply with government regulations for financial institutions. Once you’re all logged into Coinbaseyou’ll get a screen similar to this one.

So let’s go ahead and add a payment method. And we’re going to go with a bank account and as you can see Coinbase uses Plaidto link to your bank. What’s cool about this is that Plaid will do the link instantly. All you need to do is just log into your bank. Which means you don’t have to wait two or three days for those stupid little test transactions to go through in order to verify the connection.

And some of the more popular banks are listed here, but you can search for whatever bank you use. And all you’ve got to do is enter your username and password and then your bank will probably send you some kind of verification code and you should be all set.

It’s also important to note that if for some reason this doesn’t work if you close out of this, it does allow you the option to connect manually. So this is the old-fashioned way with the routing number and account number and it’s going to do those test transactions and all that fun stuff.

So even if the Plaid doesn’t work for whatever reason, you can still get connected. Now that the link to our bank is all set up, let’s go ahead and buy some Bitcoin. So click on this prices tab on the left nav bar and then we’ll go to Bitcoin, BTC, and trade. And it says with our bank account link we can buy up to two thousand dollars. So what we’re actually going to do is we’re going to get a little over a hundred dollars worth of Bitcoin in order to get that ten dollar reward.

So let’s go ahead and do that. So we’re going to go with $103 in order to cover the service charge. And then click on preview buy. And you can see where we’re actually getting just a little over $100 and one cent worth ofBitcoin. And we’ll go ahead and click on the buy now. All right, successfully purchased .00523906 Bitcoin and that’s it.

Congratulations! You just bought your first Bitcoin! Oh, and as you can see here if you want to trade it for a different cryptocurrency you can do that immediately, however, if you want to withdraw it from the account you need to wait until the transaction fully settles.

To view transaction and there we go bought Bitcoin point zero zero five two at a hundred dollars and one cent. And that’s it. So of course while we bought this Bitcoin through the Coinbase website, we could have also done this through the Coinbase app. Let’s go ahead and take a look at that real quick.

Okay and here we are in the Coinbase app. And this app has pretty much all the same functionality as the Coinbase website. Let’s go ahead and click on Bitcoin and we’ll see that purchase that we just made and click on bitcoin wallet and there it is right there, bought bitcoin. And one of the cool things we can do is you see this little star thing up here, we can just click on that and mark Bitcoin as one of our favourite cryptocurrencies.

And with that what you can do is you can add a widget from the Coinbaseapp that will show the current price of Bitcoin. To do that we click and hold on our screen and then once everything starts jiggling, click on this little plus sign in the upper left which will bring up the add widgets. And we can see right here, here’s the Coinbase widget.

So we’ll click on that and go ahead and add a widget, and there it is. I find these widgets very helpful to see what’s going on at a glance. Well, I hope you enjoyed this video. Remember you can use the link below to get $10 free Bitcoin with Coinbase. Questions? I’d love to hear from you in the comments.

Also, let me know what you’d like to see covered in future videos. In the next video, we’ll cover how to earn free Bitcoin on all of your Amazon purchases! Hit like, and subscribe, and I’ll see you then.

Read More: How to Get More Privacy on Bitcoin Transactions

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