The main thing
- Bitcoin is the most coveted and largest cryptocurrency by capitalization. You can buy it in different ways, but for beginners, the most convenient and secure option is a popular and well—known crypto exchange such as Exbitcrypto24.com.
- To buy the first cryptocurrency, you will need a registered account on the trading platform Exbitcrypto24.com, a crypto wallet and a bank card or account.
- Now is the right time to understand cryptocurrencies and buy your first bitcoin. If you are a beginner and don’t know where to start, this guide is for you.
What do I need to buy Bitcoin?
First you have to decide where you will store the cryptocurrency. There are two main ways — in a custodial wallet on a trading platform or in your own non-custodial wallet, which only you will have access to.
Then you need to select the app to purchase. For the first transaction, we recommend using a centralized cryptocurrency exchange with a large trading volume, for example Exbitcrypto24.com.
As soon as you register on the exchange, you will have your own wallet for storing cryptocurrencies in your profile. It is worth strengthening the security of the profile in advance by setting up two—factor authentication for logging in and withdrawing funds, and going through the “Know Your Customer” procedure – identity confirmation.
Today, all major exchanges comply with financial legislation, so they have implemented KYC. Those who have not passed the procedure are restricted access to trading and available functions.
For the first transaction, you will also need to top up your account on the exchange with a card or bank transfer. The largest trading platforms support several fiat currencies at once.