How to buy crypto
Are you interested in the world of cryptocurrencies and would like to find out how to buy crypto safely? Great, because this tutorial was created to show you the simplest and safest ways to “shop” in the world of virtual coins. There are in fact several platforms that guarantee excellent service and which, despite what one might think, are also simple to use for novices.
Before starting, however, I want to clarify that no app or website will ever be able to guarantee a 100% security level , so you must be aware of the possible risks you face. If you decide to use other platforms in addition to those described here, always remember that lesser-known services can hide many unknowns: in the past many of them have suffered violations of their systems or have turned out to be real scams. In short, I recommend: always turn to sites with proven reliability.
Finally, I want to clarify that none of the following are or are intended to be financial advice , but simple technological information. The cryptocurrency market is very volatile as well as fickle, so there is a real risk of even total loss of one’s assets. Having made these necessary premises, let’s see how to buy cryptocurrencies!
Index
- How to buy crypto on Binance
- How to buy crypto on Kucoin
- How to buy crypto on Crypto.com
- How to buy crypto with PayPal
- How to buy unlisted crypto
How to buy crypto on Binance
Binance is by far the most renowned and used exchange in the cryptocurrency landscape: just think that it alone generates a daily trading volume higher than the sum of that of its direct competitors. On the side of safety and ease of use it ranks at the top of this list, although the others are no less.
To make purchases on Binance, you can connect to the main page of the service or download the official app for Android and iOS / iPadOS in order to proceed, then, to create an account. The procedure requires you to enter your personal details such as name, surname, email and telephone number, as well as providing an identity document of your choice between passport, identity card and driving license.
This step could leave you a little baffled, as it is legitimate not to want to give photos of your documents to platforms with registered offices in distant countries, but do not worry: it is requested by the Italian legislature and many other countries in the world. in order to avoid money laundering and tax evasion practices.
Once you have completed the process, you can make your first crypto purchase: an operation that you can complete in several ways. The most efficient of all is via debit / credit card, as it has a 1.8% commission which is a great compromise at least for small or medium-sized deposits.
In this article, I use the Binance website to buy cryptocurrencies, so if you want to perform the operation through the app you may encounter slight differences in the steps or in the wordings. To deposit you must go to the top of the screen and click on Buy Crypto , and then select the Deposit with card option from the sub-menu that appears.
Once you have selected the Euros as the reference currency, activate the check on the Bank card option and then enter the amount and data of your debit / credit card to complete the operation and have the money in your Binance wallet. At this point you are not yet in possession of any cryptocurrency, as you have to convert your Fiat assets into one of them.
To do this, go to the Trading menu item located in the top bar and select the Convert option from the list that opens. On the next screen you will find two boxes, a From and a To which are respectively the starting currency and the destination currency of the exchange. On From select the Euros and on To any of the available cryptocurrencies into which you wish to convert your assets. If you need more information, my articles on how to register on Binance and how to buy Bitcoin on Binance will answer all your doubts.
How to buy crypto on Kucoin
Kucoin is an exchange based in Hong Kong which operates mainly on the Asian market, but which is also “catching on” in the old continent thanks to the excellent service it offers to its customers. To register you can go to the main page or download the app for Android or iOS / iPadOS.
If you are a Binance user, you will immediately notice how strong the similarity between the two platforms is, so much so as to leave the feeling that Kucoin is a “repainted” Binance. However, this is very far from reality, since these companies are not connected at all , but strong rivals for important market slices. Kucoin, while still a long way off in terms of volumes, remains one of Binance’s main competitors.
Before using Kucoin, though, I want to warn you that while the exchange enjoys the same reliability and security as the others on this list, many of the cryptocurrencies you can buy above aren’t exactly solid projects. The exchange’s policy is to provide the customer with the greatest variety of products possible, which means quantity rather than quality. Obviously, bitcoins or other major cryptocurrencies are the same as you would find elsewhere, but be careful and educated yourself before investing your money on much lesser known names.
To make your first purchases, you must first create a profile : the procedure is practically similar to that already seen for Binance, and common to any exchange; consists in inserting general information and a photo of the identity document. Once this is done, from the main screen of the site, you must select the Buy Crypto item and choose the first option you find on the list, that is Fast Buy , to deposit the funds.
The exchange does not give you the possibility to deposit Euros, but to buy digital dollars in a 1 to 1 ratio with the paper one. This would not be a big problem in itself, as they are traded in equal proportions (barring slight market movements), but there is a note to add: the fact that you can only buy in Dollars means having to make a payment in a currency you probably don’t hold in your account. This involves more or less significant conversion costs , depending on the policy your bank follows.
If this is not a problem then we can move on to the next steps of the tutorial. Once you have the USDT in your account , you can freely trade them with any cryptocurrency available on the exchange by going to the Trading section (selectable from the top bar menu) and choosing the Trading spot item from the drop-down menu.
Here you will be redirected to the trading page , with charts and numbers moving wildly before your eyes. Automatically you are offered the BTC / USDT (Bitcoin / Dollar) page but, if you want to choose another currency, press right on the BTC / USDT written at the top, next to that of Kucoin, and select the pair that wishes. Please note: at this point you only have USDT in your wallet so choose a trading pair with USDT otherwise you will not be able to trade.
Once you have decided on the desired currency, at the bottom right you have a section where the words Buy and Sell appear together with the acronym of the crypto in question. By default it is set to limit buy , which means that it will buy the coin at the price you indicate, not at the current market value. If you prefer an instant purchase, select the Market item located in the window at the bottom right, choose the amount in USDT you want to convert into that crypto and click the Buy button . If you want to know some interesting cryptocurrencies for the future, my article on the best cryptocurrencies is sure to suit you.
How to buy crypto on Crypto.com
In the list of the most interesting and reliable exchanges in circulation, Crypto.com certainly could not be missing . First of all, however, a clear distinction must be made, as there is a web version of Crypto.com Exchange and two apps: one that basically offers the same services as the site and aimed at those who want to trade (available for Android and iOS / iPadOS ) , as well as the Crypto.com app designed for medium / long-term investors simpler but offering limited tools (also available for Android and iOS / iPadOS ).
To buy crypto, my advice is to use the Crypto.com app designed for investors, as it allows you to transfer funds in Euros while the exchange only accepts Dollars. Small but relevant detail, the fact that the exchange and the investor platform do not sell the same assets , which means that you may not find a coin that is listed above.
The process to buy cryptocurrencies is really similar in all respects to those seen so far, as you are required first of all to create a profile and provide your documents and then proceed with the purchase. Once you have been successfully verified, you have the option to purchase the assets with your credit / debit card or SEPA wire transfer .
To deposit with the bank transfer, click on the button with the Crypto.com logo and then select Configure new currency , taking care to select the Euro as the currency. Once this step is done, the app will provide you with the bank details to which you can send all the funds you want by classic bank transfer.
Once the funds have arrived, all you have to do is go to any of the cryptocurrencies managed by the platform, select it and scroll down the page until you find the Buy button . Decide which slice of your capital in Euros to convert and that’s it, now you have your first crypto. If you want to know in detail how to use this platform, I leave you my tutorial on Crypto.com .
How to buy crypto with PayPal
PayPal, the famous online money exchange system, announced some time ago that it wants to start managing cryptocurrencies through its app, in order to provide customers with a service that is becoming increasingly popular. At the time of writing this article, this is true but only for some foreign markets , while in Italy it is not yet and it is not known if and when it will be available.
So, aren’t there ways to buy crypto with PayPal ? Nì , because it is not possible to do it directly but you can rely on other platforms that accept this method of money transfer, such as Coinbase or eToro . Both are very valid and at a top level of reliability, albeit very different from each other in substance.
Coinbase is an exchange exactly like those seen so far, with apps for Android and iOS / iPadOS , with the advantage of being very attentive to the regulations in force in the states in which it operates, so much so that it is one of the few with full freedom of action in the United States. Compared to the options seen above, however, it should be noted that the costs for exchanges are higher than the average, which makes it more suitable for long-term rather than short-term holding.
To register on Coinbase you can do it through their website or by downloading the app for Android and iOS / iPadOS smartphones and tablets. The procedure here too is identical to those of all other exchanges and, once completed, you can associate your PayPal account to deposit and withdraw funds.
eToro instead is a broker (also available in Android and iOS / iPadOS versions ), which means a platform designed for those who want to go and operate on the stock market rather than that of cryptocurrencies, but not only. In fact, there is a whole section dedicated to crypto, from that going to buy all the most renowned assets. The problem is that it has far fewer services related to them and instead present elsewhere, which could lead you to choose an exchange.
To deposit funds on eToro with PayPal, all you have to do is register on the site or through the app for Android or iOS / iPadOS and, once you get to the main screen, press the Deposit funds button from which you can choose different payment methods, including which precisely PayPal. If you want to know more about this broker, in my article on how to buy Bitcoin on eToro you will find what you are looking for.
How to buy unlisted crypto
Buying unlisted crypto as well as buying crypto as soon as it is released is an operation possible only under certain conditions, which are generally related to the platform used. In practice, the new cryptocurrencies are distributed in “presale” only by one of the many exchanges on the market, depending on the commercial agreements between the parties.
Before continuing, however, I would like to warn you that buying cryptocurrencies that are very “young” and with little or no uptime on the market, is an even greater risk than buying those already widely established (which are also not joking). Mine is not financial advice , so you will have to take on all the honors and burdens of this type of operation.
That said, some exchanges such as Binance , ByBit , FTX , Coinlist and others, usually carry out pre-sales of new tokens, which are sometimes literally given away if certain conditions are met, which vary depending on the coin launched and the reference exchange. .
Exchange aside, you can get unlisted crypto through airdrops , literally gifts made by various types of entities to people who interact with them in some way. I know it sounds very vague, so let me give you an example. The Terra blockchain (Luna token) offers airdrops of the digital currencies of some new projects born on it to those who have staking that coin on the blockchain itself. Other times, on the other hand, it is other platforms that, to launch their token, make airdrops to all their customers. In short, there are many possibilities and, following the news of the sector, it is possible to exploit them.
Finally I want to talk to you about the tokens not listed but launched on unknown platforms or directly by their creators on the reference site, from which it is good to stay away . Many new currencies increase in price in the first few days after launch because they are big projects, in fact exchanges are competing to get them. On the other hand, those who do not queue up are usually because they are ideas without rhyme or reason, if not real scams . In any case, if you are interested in holding crypto for the long term, my advice is to use a hardware wallet like the ones I indicated in my dedicated guide.