How to Buy Bitcoin and Crypto – The Startup

How to start?

You might now wonder how to get your own ฿ or another crypto? This is still complicated for many. You can onboard on an online exchange like Coinbase or start a wallet on a platform like Blockchain.info. In general, all exchanges will do KYC. This stands for “Know Your Client’ and requires the upload of your ID and proof of address. You can download Bitcoin wallets from the app store, scan your ID, wait some days and there you go, welcome to Crypto land.

Coinbase also accepts credit cards. After an initial ban from banks and credit card companies in early 2018 to purchase Crypto with credit cards, they eventually didn’t want to miss out on the commissions made from crypto buyers. Commissions can be high on these exchanges since they are just companies making money on crypto.

One of the simplest wallets to use wallets is Breadwallet (BDW), offering an introduction commission of only 0,2%. This wallet is designed for the unbanked entering. It uses Coinify to make transactions with Ibans in Europe. Another made simple wallet is the LUNO wallet. Also very popular in Africa and Asia.

With Localbitcoins you only need your driver’s license. You meet somebody in your town that wants to trade bitcoins. Paxful is a Peer to Peer Bitcoin marketplace connecting buyers with sellers. Abra allows you to securely invest in 30 cryptocurrencies, 50 fiat currencies, all from one app. It is great that some brands primarily focus on keeping things simple and lower the barrier for people to get in.

Probably the easiest way to get into crypto is to download any of the wallets mentioned above, find the nearest Bitcoin ATM and follow the instructions there. There are more than 6.000 now worldwide. You can easily go from cash money to bitcoin in minutes.