How To Buy Cryptocurrency?

How To Buy Cryptocurrency? Read on to know detailed procedure to buy cryptocurrencies on various crypto exchanges.

We are aware of the fact that crypto exchanges allow users to buy or sell cryptocurrencies using fiat currency (such as US dollars, Euros, etc.) or other cryptocurrencies. There are many crypto exchanges available, and they vary in terms of the cryptocurrencies they support, fees they charge, security measures, and user interface.

In this article, we’ll understand step by step procedure to buy cryptocurrencies on various exchanges including Kraken, Paybis, Uphold, Nexo, KuCoin etc.

CEX Exchange

  • First sign up for a CEX account (https://auth.cex.io/authorization/login) . It takes 5-8 Minutes. (Sign Up with Email and password) &Verification (KYC, find it in Dashboard, Govt. ID or Address proof will be asked)
  • Add funds to your account
  • Navigate to the trading page
  • Select the crypto you want to buy and place the order (You can buy through Bank transfer, Credit and debit cards and crypto to crypto exchange)
  • And at last, confirm your order.

Kraken Exchange

  • Create your account in Kraken (https://www.kraken.com/sign-in) . It takes less than 5 minutes to register.
  • Verify your account (Click on GET VERIFIED on the dashboard, (KYC) Govt IDs or Address docs will be asked).
  • Deposit funds in your account
  • Select the cryptocurrency you want to buy (Find it in TRADE tab, you can buy through Bank transfer, Credit and debit cards and crypto to crypto exchange)
  • Choose the trading pair (For Ex, if you want to buy Bitcoin with US dollars, select the BTC/USD trading pair)
  • Place and confirm your order.

Also Read: Is Kraken Trustworthy?

Paybis Exchange

  • Create your account in Kraken (https://www.kraken.com/sign-in) . It hardly takes 5 Minutes to register.
  • Verify your account (Click on GET VERIFIED on the dashboard, (KYC) Govt IDs or Address docs will be asked)
  • Deposit funds in your account
  • Select the cryptocurrency you want to buy (Find it in TRADE tab, you can buy through Bank transfer, Credit and debit cards and crypto to crypto exchange)
  • Choose the trading pair (For Ex, if you want to buy Bitcoin with US dollars, select the BTC/USD trading pair)
  • Place and confirm your order.

Also Read: Paybis Exchange Review

Uphold Exchange

  • Create your account (https://wallet.uphold.com/signup) . It takes less than 10 minutes. (Sign Up with email and password)
  • Verify your account. (KYC, GOVT. IDs are mandatory)
  • Add funds to your account.
  • Select crypto you want to buy on the dashboard
  • Select the payment method (you can buy through Bank transfer, Credit and debit cards and crypto to crypto exchange)
  • Review and confirm the buy to receive it.

Nexo Exchange

  • Register and verify your account (https://platform.nexo.com/) . It takes 10 minutes (KYC, Govt. ID, address proof and selfie are mandatory)
  • Fund your account (Bank transfer, Credit and debit cards and crypto to crypto exchange)
  • Choose the cryptocurrency you want to buy.
  • Enter the amount you want to buy
  • Review and confirm the buy.

KuCoin Exchange

  • Create the account on KuCoin (https://www.kucoin.com/)  It takes less than 10 minutes.
  • Verify your account (Govt. IDs)
  • Add funds to your account (Assets tab > Deposit, Bank transfer, Credit and debit cards and crypto to crypto exchange)
  • Can buy with Fiat and crypto.
  • Navigate to the trading page (Trade > Spot trading)
  • Choose a trading pair
  • Place an order
  • Review and confirm it.

Also Read: KuCoin Price Prediction

ByBit Exchange

  • Create your account (https://www.bybit.com/en-US/) . It hardly takes 8 minutes to complete (Email and password)
  • Complete KYC verification (Govt. ID)
  • Fund your account (Bank transfer, Credit and debit cards and crypto to crypto exchange)
  • Choose the trading pair
  • Place the order and confirm it
  • Wait for the order to be executed.

Coinspot Exchange

  • Create your account (https://www.bybit.com/en-US/) . It takes less than 8 minutes to complete (Email and password)
  • Complete KYC verification (Govt. ID)
  • Fund your account (Bank transfer, Credit and debit cards and crypto to crypto exchange)
  • Choose the trading pair
  • Place the order and confirm it
  • Wait for the order to be executed.

How To Buy Cryptocurrency? Points to keep in mind while using crypto exchanges:

  • Choose an exchange with strong security measures, such as two-factor authentication and encryption.
  • Do your research and choose an exchange with a good reputation.
  • Check the exchange’s fee structure and ensure you understand the costs of buying and selling cryptocurrencies.
  • Most exchanges require users to verify their identity to comply with KYC (know your customer) and AML (anti-money laundering) regulations. Make sure you understand the verification process and have the necessary documents ready.
  • Look for an exchange with good customer support, in case you need help with your account or have any issues with a transaction.
  • If you plan to hold cryptocurrencies for the long term, consider using a hardware wallet or software wallet to store your funds securely.

Note that it is always suggested to choose a reputable crypto exchange to purchase your digital assets. It is because it ensures the safety of your funds and protects you from potential fraud or scams. Additionally, reputable exchanges are more likely to comply with regulations and laws related to cryptocurrencies, which helps to minimize the risk of regulatory issues.