Convert Your Physical Dollars To Buy Cryptocurrency
If you are new to cryptocurrency then it is likely that your first question is how do I buy cryptocurrency? The journey will likely begin at Coinbase. Coinbase has the most straightforward user-friendly interface. However, the biggest complaint they have is that their fees are rather high.
The first step in buying cryptocurrency is to exchange your fiat (dollars, euro, etc.). This will be accomplished by linking your bank account or credit card. Fiat is just another term for a currency (or money) that is declared to be legal tender by the government but it is not backed by a physical commodity (gold, etc.). Rather the value is determined by the government that issues it and the people’s belief in it’s worth.
Anyways, you will link up a credit card or a bank account. Each one has it’s own pros and cons.
If you use a credit card with Coinbase, then you will get instant access to your new digital currency (cryptocurrency) however the trade-off is that your fees will be higher for the transaction.
On the other side, if you link your bank account, your fees are much lower but your cryptocurrency will not show in your account until 5-7 business days have passed.
Either way, when you buy the price of your cryptocurrency is locked in. So that is one less thing to worry about when you are buying cryptocurrency!
I bring this up so that you can think about how you want to proceed before we get to that point.
Create Your Account On Coinbase
Opening an account is easy.
Click on the Coinbase logo below or in the paragraph above to receive an additional $10 worth of bitcoin when you purchase your first $100 or more worth of bitcoin.
Once you click on the link your browser will take you to the invitation page. It will look something like this:
Make sure that you enter all of the requested info, check off the captcha box to confirm that you are not a robot, check the box for certification on age/policy/agreement, and click sign up.