The Fast Track
This is not an advice about why you should use Digital Money (DM). It is about how to start using it.
A. If you can and want to use your Identity and Banking system
1- Register with a service, which will help you transform cash into Bitcoin or other DM
2- Download a Wallet app to store your purchased Bitcoins, and that’s it!
Additionally if you want to trade coins or just swap from a coin to another,
3- Register with an Exchange which will help you swap your Bitcoin into another coins
B. If you can’t or don’t want to use your Identity or banking system
1- Download Wallet app / apps
2- Find ways to obtain bitcoins directly from other users
Additionally, for more sources and to trade coins or just swap from a coin to another,
3- Register to an Exchange that will require less or even None ID verification
Entrance from Fiat to Digital Money
Click the image, register as new user (you will receive $10 welcome bonus), follow the instructions to confirm your Identity.
- You will need to send a photo of your ID using the mobile camera and wait for confirmation.
- Set up your 2 authentication methods. In addition to your password you will receive a code by SMS (7 digits) every time you attempt to login, then you will need to type in these digits into the login page.
- Add a payment method. Choose between Bank Account or Credit/Debit Card (card transactions are faster).
- Coinbase offers BTC, ETH, LTC & recently added BCH (24 Dec 2017) , Choose, click “BUY”, type in the amount,
Confirm! and you have your first Digital currency
You don’t need to confirm your ID
Click the image, register as new user, follow the instructions to confirm your email address.
- Login and find someone trusted selling for an acceptable price ( use the reviews to check the person’s history )
- Send the “request to buy”
- Agree the payment method with the seller
- Send the payment and receive your coins. Done!
Buy Bitcoin for Cash
After registering to LocalBitcoins website
- Login and find a seller for cash with an acceptable price ( check sellers reviews and history )
- Send the “request to buy”
- Agree the payment method and place
- Meet up and swap cash for a code. Done!
Your coins will be on your wallet at Localbitcoins website, just type the code given to you to confirm the transaction
The Exchange: KuCoin, Bitsquare, Bittrex,..
Choose any of the many available exchanges on the market. Try Kucoin
I find it simple, secure and easy to use. Most of their operating systems work similarly
- Click and follow the registration instructions (you can register on other pages later on)
- Find the Bitcoin in the ASSETS and click on RECEIVE on the Bitcoin row, this will display your receiving address for BTC on KuCoin website
- Use Coinbase or other wallet (where you have stored coins) and send BTC to your address on KuKoin
- After your Bitcoin funds are available on KuCoin click the MARKETS menu and choose BTC markets to buy Altcoins for Bitcoin
You are now ready to buy and sell Digital currencies!
Copay, TenX, Jaxx, Coinomi are just few of hundreds available wallets
If you had purchase Bitcoins on a website, then your BTC is already in a wallet however, it is more secure to remove the coins and deposit them onto your own device (wallet app)
Some of the well known, tested and secured apps are Copy, TenX, Jaxx, Coinomi
- Download from your Play Store for android and App Store for iOS
- Set up a password or PIN where reqiured
- Save and secure your “Secret Key” or “Seeds” as instructed by the app (best written on a paper)
Attention: You shouldn’t use the wallet before having backed up the Secret Key or Seeds
- Click on the RECEIVE button and see your public receiving address (you can show this address to anyone)
- Login to where you have your coins and send them to your new wallet using your wallet receiving address
Note: Bitcoin wallets are suitable only for Bitcoins. Sending other Altcoins to the Bitcoin wallet will cause losing them
By now, if you followed the steps above
- You have a digital wallet
- You are registers on Coinbase/LocalBitcoins…
- You are registered on Bittrex/Binance/Kucoin…
- You bought your first Ethereum/Bitcoin/Litecoin…
If you are having any issues with any of those stepswe will be happy to help you