Buying cryptocurrency is confusing for a lot of people.
It’s not a stock or a typical “investment.” It’s not like anything most people have ever seen or experienced. You don’t get shares; instead you get digital coins or tokens. The coins are “better” than a paper dollar bill because they actually support a greater cause, as in Ethereum’s case, to build a decentralized internet and host code and apps on a decentralized platform. And coins help “fuel” that cause, so to speak, without getting technical.
For most people around the globe, Coinbase would be the easiest option to buy Ethereum, Bitcoin, or Litecoin (it doesn’t support any others yet).
After verifying your account, you can add a number of payment methods including credit or debit cards, bank accounts, or even wire transfers of funds.
Typically you will need to verify your account with a driver’s license and add other details to expand your buy limits. Since cryptocurrencies are “hard currencies,” the exchanges don’t want to risk getting ripped off, since you can’t reverse a cryptocurrency transaction once it’s done. If you are looking for some of the newer coins like NEO that are making big movement but haven’t made their way to the aforementioned exchange sites, you can look into Bittrex, Poloniex or Livecoin. You can transfer Bitcoin or Ethereum to these platforms from Coinbase and then exchange it for any other digital currency that you want.
- High liquidity and buying limits
- Easy way for new users to buy bitcoin
- Instant buy available with credit card as backup
- joining bonus of 10 USD / 8 GBP / 8.5 Euros when you join using Coinbase
- Limited payment methods
- May track how its users spend bitcoin
Disclaimer: this is all my personal recommendation and investment in cryptocurrency may involve risk due to high volatility.
This article does not constitute in any way shape or form legal, financial or investment advice and any action taken is at users own discretion and of their own volition. No loss or blame is accountable to the poster of the article and as such he/she is free from liability. This site is served as is.