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There are many ways to purchase Bitcoin today, as I outlined in my article “Your First Bitcoin (How and Where To Buy It)”. I mentioned there that I often set up my friends with a “starter pack” of what I think are the two most accessible platforms for purchasing and trading crypto. Coinbase, for purchases and Binance for trades.
In this article, I’ll give you a step-by-step guide for exactly what to do and expect when purchasing Bitcoin on Coinbase.
In a nutshell, here is what we will be doing:
What you’ll need:
First things first you will need to signup. Once you create an account, confirm your personal details and login. You may be asked to upload a scan of ID. Once you’ve logged in, continue to the next step.
debit card linked to coinbase succsessfully
The signup process for Coinbase is fairly intuitive, though it has changed several times and may vary according to your geographical location.
Some people find the number of steps involved annoying, which is understandable. You will probably have to verify your email, a phone number (by receiving an SMS code), and possibly even show your passport via webcam before you can start your purchase. While this can be a little tedious, Coinbase’s interface keeps it simple and friendly, and it appears they’re doing everything they can to keep your account secure.
debit card payment for bitcoin with coinbase
Payment method for Bitcoin Payment by legal online cannabis dispensary
You have a few different options for buying on Coinbase.
You can use a debit card, bank transfer, or wire transfer. (Previously credit card purchases were also possible, but despite the fact that this is still true according to Coinbase’s help pages, it’s currently not possible to add a credit card as a payment method.)
Debit card purchases are the fastest. As soon as you pay with your card, you will instantly have the Bitcoin in your account.
Bank transfers have lower fees, but it takes about five days before you receive your Bitcoin.
debit card payment for bitcoin with coinbase
debit card payment for bitcoin with coinbase
debit card payment for bitcoin with coinbase
debit card payment for bitcoin with coinbase
This section will show you how to buy bitcoin using CoinMama. (PS: you can also check out the concrete guide here CoinMama Tutorials!)
Once you create your account and verify your email address, you can begin following the steps below:
Whenever you’re evaluating a new cryptocurrency exchange it’s always important to ask if you can even use it in the first place. Due to cryptocurrency laws and regulations which change depending on which country you’re in, or which state, sometimes services are not available.
Coinmama is widely available throughout Europe. In fact any cryptocurrency trader or investor not living in any of the countries, US states, or territories below can use Coinmama.
Finally we come to the list of countries that cannot use Coinmama at all. Here is the list of restricted countries:
The following American states cannot use Coinmama:
The following American territories cannot use Coinmama
If you don’t have a credit card? No problem. You can also buy Bitcoin with debit card. Coinmama currently accepts payments via Visa and Mastercard. Please note that American Express, Discover and PayPal are currently not accepted. Regardless of the method you choose, you need to make sure that the card belongs to you.
Please note that you’ll pay a commission due to the processing fees that come with your card payments. After your account is verified and a purchase is made you will receive your Bitcoin within a few minutes. Coinmama offers industry-leading purchase limits. For more information, refer to our Knowledge Base.
Looking for another payment option? You can also buy Bitcoin with bank transfer. We currently accept orders of up to 12,000 USD per day, regardless of other methods you may have used, offering higher limits and lower fees.
This method is currently available in most European Union (EU) countries and the United Kingdom (UK) using SEPA bank transfer and in the rest of the world through SWIFT.
Bitcoin (BTC) really took off during 2017 and is still going strong. So what is this cryptocurrency all about? In a nutshell, Bitcoin enables payments to be sent between users without passing through any central authority, such as a bank or payment gateway. Here are a few facts about Bitcoin you need to know:
