How to Buy Cryptocurrency

A complete step-by-step beginner-friendly guide

What Is Cryptocurrency?

Cryptocurrency (crypto) is a form of digital money secured by cryptography. It operates on decentralized networks such as blockchain, allowing transactions to be transparent, secure, and borderless. The most well-known cryptocurrencies include Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB).

People buy crypto for investment, trading, payments, and long-term value storage. Crypto prices fluctuate significantly, but major assets have shown strong growth over the years.

Historical Returns of Major Cryptocurrencies

Cryptocurrency 1-Year Return 3-Year Return 5-Year Return $100 Becomes…
Bitcoin (BTC) ~160% ~270% ~680% ~$780
Ethereum (ETH) ~95% ~200% ~700% ~$800
Binance Coin (BNB) ~25% ~50% ~1,300% ~$1,400

*Estimated values are based on past performance and do not guarantee future results.

1. Choose a Trusted Exchange

To begin buying crypto, you first need to choose a reliable cryptocurrency exchange. Binance is one of the most popular and secure platforms.

Click here to create an account

2. Create and Verify Your Account

  • Sign up using your email or phone number.
  • Complete identity verification (KYC) for increased security and withdrawal limits.
  • Enable Two-Factor Authentication (2FA) to protect your account.

3. Deposit Funds

You can deposit funds using several methods:

  • Bank transfer
  • Credit/debit card
  • Third-party payment providers

4. Choose the Cryptocurrency You Want to Buy

Popular choices include Bitcoin (BTC), Ethereum (ETH), and BNB. Use the Buy Crypto feature in Binance to select your desired coin.

5. Place Your Order

You can buy crypto using different order types:

  • Market Order: Buy instantly at the current market price.
  • Limit Order: Set your price and wait for the market to match it.

6. Secure Your Crypto

After buying, keep your coins safe. Options include:

  • Leaving it in the exchange wallet (convenient but less secure)
  • Transferring to a software wallet
  • Using a hardware wallet for maximum security

Tips for Beginners

Frequently Asked Questions (FAQ)

You can buy crypto by signing up on a trusted exchange like Binance or Coinbase, verifying your identity, depositing funds, and placing a buy order.

Choose a reliable exchange, complete KYC, fund your account, and select the crypto you want to purchase.

Most exchanges allow buying crypto with a credit card. Select “Buy Crypto,” choose credit card, enter details, and confirm purchase.

Platforms like Coinbase, PayPal Crypto, and eToro allow crypto purchases directly with PayPal.

Create an account, verify your identity, add a payment method, and click “Buy/Sell” to purchase crypto instantly.

Search for the crypto you want inside Robinhood, then place a buy order. Note: crypto withdrawals are limited.

Use U.S.-approved exchanges such as Binance.US, Coinbase, Kraken, or Gemini with bank transfers or cards.

Fidelity offers Bitcoin ETFs but does not support direct crypto purchases like exchanges.

Some exchanges allow prepaid card purchases, depending on issuer restrictions.

Go to the Bitcoin tab, choose “Buy,” pick an amount, and confirm your purchase.

Enable crypto trading, deposit funds, search the crypto you want, and complete the order.

You must be 18+ to use exchanges. Minors may only use custodial accounts controlled by parents.

Use Bitcoin ATMs or peer‑to‑peer platforms, which require minimal verification.

Minors cannot legally open accounts; a parent must manage a custodial account on their behalf.

Use exchanges with instant withdrawals like Binance or Coinbase, then transfer to your wallet immediately.

You cannot legally buy crypto at 16. A guardian must purchase and transfer it for you.

At 17, you still cannot open crypto accounts legally; only custodial accounts are allowed.

You can invest long-term, stake, trade, or use yield products to earn from crypto investments.

Register a business account on a crypto exchange offering institutional services, then complete KYC.

Sign up on an exchange, verify your identity, deposit funds, and select Bitcoin when placing your order.

Use regulated U.S. exchanges like Coinbase, Kraken, or Binance.US with ACH or card deposits.

Open Cash App → Bitcoin tab → choose “Buy” → confirm your purchase.

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