How to buy bitcoin, ethereum and other cryptocurrencies
Crypto Market

How to buy bitcoin, ethereum and other cryptocurrencies

6 min read

For anyone who wants to buy bitcoin, ethereum or other cryptocurrencies, there are a lot of options: multiple exchanges to buy from and multiple wallets for storing crypto. Sometimes the sheer number of these options can be a little overwhelming. So here, we’re going to simplify things and give you just a few of the best and universal options to choose from. So if you want to know how to buy bitcoin, ethereum and other cryptocurrencies, you should read on.

And if you haven’t decided yet, you should read this:
Should I buy crypto? The only thing you need to consider when deciding

Disclosure: This post is not sponsored by anyone. But some of the links are of the affiliate kind. This means that if you sign-up for a service or buy something using these links, you’ll have no extra costs and in some cases you’ll even get a discount but a percentage of your paid money will find its way to us. Using these links can be a great way to support this blog and its continued existence.

First: Exchanges

An exchange is a platform on which you can buy cryptocurrencies, exchange one with another and even store most of your coins and token. So learning about crypto exchanges and choosing one, is the first step on the way to learn how to buy bitcoin, ethereum and other cryptocurrencies.

If you’re looking to continually trade crypto, a good exchange is all you need. And here are our picks for the best crypto exchange:

1. Binance

Right now, binance is one of the biggest names in crypto. They have their own blockchain (Binance Chain) and their own native coin (Binance Coin or BNB). Although you should know that their exchange is a centralized platform. The number of coins and tokens listed on binance is much higher than most of the other cryptocurrency exchanges. And they also have futures trading.

The only real problem with binance is that you can’t use their services everywhere. The residents of some countries cannot use binance, especially after they’ve made KYC mandatory for their users.

If you don’t know, KYC stands for “know your customer” and it requires users to verify their real identity by uploading some type of identification and maybe a video or photo taken in a very specific way.

If you live in a country that binance covers and you don’t have a problem with verifying your identity for buying and selling crypto assets, I would recommend using binance. You’ll be able to do most of the things you want on their platform.

If you want to buy bitcoin (BTC) or ethereum (ETH) or any other currency with your fiat money, all you need to do is click on “Buy Crypto” button on binance’s website and then select the payment method of your choice. On binance, you can buy crypto with nearly 60 fiat currencies right now.

Pros:

  • High number of listed coins / tokens
  • Low trading fees
  • Getting exposure to futures trading, staking and some other features of the crypto market

Cons:

  • Can’t use from anywhere
  • Requires KYC

2. Kucoin

For people who can’t or don’t want to use binance, kucoin can be a good alternative. It is very similar to binance in the services it offers. You can buy, sell and trade crypto. You’ll also have access to futures trading and some other stuff.

The main difference with binance is the number of coins and token that you’ll have access to on kucoin and the fact that you don’t need to verify your identity to be active on kucoin. The only downside to not doing KYC is a withdrawal limit which for most people won’t be a big problem.

In order to buy crypto on kucoin, you need to click on “Buy Crypto” button and choose your payment method. They support more than 50 fiat currencies.

Pros:

  • Doesn’t require KYC
  • Can use from almost everywhere
  • Low trading fees
  • Getting exposure to futures trading, staking and some other features of the crypto market

Cons:

  • Not as many coins and tokens listed
  • System can be a little buggy and slow sometimes

After signing up, you can contact either exchange’s support team and get assistance on how to buy bitcoin or any other cryptocurrency.

Second: Wallets

If you want to trade frequently, keeping your funds on an exchange makes sense. But if you want to invest in crypto and hold what you’ve bought for a long time or spend them to shop online, you should consider moving them to your own wallet, especially if you’ve spent more than a few hundred dollars on crypto.

Centralized exchanges can always get hacked or face other problems. But if you store your cryptocurrencies on your own wallet, you’ll reduce this kind of risk significantly. You can also connect your wallet to a decentralized exchange and trade crypto that way.

Here are a few wallet recommendations for you:

1. Ledger

The best choice for serious investors and people who want the most security is a hardware wallet that keeps your coins and tokens offline. And ledger wallets are a very good option. They come in two models: “Nano S” and “Nano X”. Both models are feature-packed to suit everyone’s needs. You should definitely check them out.

2. Atomic

If you don’t want to spend money on a hardware wallet, you can use a software one. And atomic wallet is a great option. If I’m being honest, I’m partial to this one because it has a desktop version in addition to the mobile version where most other wallets don’t. Of course it provides a top notch user experience too but if you’re like me and mostly use your computer and not your phone for your online activities, atomic is one of the very few good options.

Other wallets that have a desktop version: Guarda, Coinomi, etc.

3. Other wallets

There are lots of options when it comes to software crypto wallets. So you should do your own research and see which one provides the features you need. Just beware of the scammers and choose a reputable name.

Some good options: Metamask, Trust Wallet, etc.

You can also read:
Crypto meaning and types of cryptocurrencies (+why should you care)

Last words

If you want to start investing in crypto or enter the crypto market as a trader, you’ll definitely need a good exchange and a good wallet. To start this adventure, you can see our recommendations above and choose the ones that suit your needs. You can always change your decision later, although it can be costly sometimes.

Your turn

Share this post on social media and everyone who wants to know how they can buy cryptocurrencies like bitcoin, ethereum, cardano and more.

If you have a favorite exchange or wallet, comment below and tell us about them. (Comments containing ads won’t be approved.)


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