How to buy bitcoin and other cryptocurrency?
If you’ve stumbled upon this website and found that ICO that really piques your interest, but you happen to not have the needed cryptocurrency yet to participate you will need to purchase your first Bitcoin or other cryptocurrency.
Most ICOs allow both Ethereum and Bitcoin, so this guide will focus on buying and equally important storing your coins.
Many first time users are funneled directly to Coinbase as they are seemingly the “friendliest” with their soft UI and familiar style navigation. That being said, Coinbase has come under extreme fire the last few years and more and more users are searching for alternatives.
Here at ICO list we highly recommend CoinMamma. Despite the colorful name, they are pure class, and best of all they allow you to purchase with a credit card.
As long as you are buying less than $150 worth of Bitcoins you don’t need to upload any documents for verification – after that threshhold you will be asked to upload some identifying documents. For any purchase amount, you will however need to supply a legitimate mailing address and verify your/a email address. So buying procedure at Coinmama is significantly quicker than more competitors and will take about an hour or two.
There is a 5% credit card processing fee that is charged by Simplex, but don’t worry they have a solid reputation and the 5% really is worth the convenience of a speedy purchase. Users of Coinbase have purchased Bitcoin at X price only to wait for a week or more for it to hit their wallet.
Looking For A Safe Way To Store Your Cryptocurrency?
Maybe you already have some coins or maybe you used Coinmamma above to take your first plunge into the space – either way, it is imperative that you secure your funds. We personally use and highly, highly recommend the use of a hardware wallet. A hardware wallet like Ledger, requires that you connect a physical USB to your computer, and go through multiple steps on the computer and physically on the device to confirm any moving of coins.
From Ledger’s website:
“Hardware wallets are convenient, affordabe, portable and backuped by a paper wallet allowing an easy recovery in case of loss. If you have any significant amount of bitcoins, using a hardware wallet should be a no brainer.”
What is required to use Ledger‘s hardware wallets?
You must have:
- a computer with an USB port (for Nano S, Nano, HW1)
- Google Chrome or Chromium 50+
- Windows (not XP), Mac (10.7+) or Linux.