Bitcoin is the first and biggest cryptocurrency. More than 13 million people own bitcoin today. In this article we’re going to help you to become one of them.
Step 1: Register at BTC Direct
Step 2: Create a Wallet
Step 3: Purchase at BTC Direct
Step 1: Register at BTC Direct
The first step to buying bitcoin is registering an account at BTC Direct. If you haven’t done so already, you can click ‘Register’ on the top right of the page. The registration process is quick and easy, you will be able to place an order the same day!
When you create an account on BTC Direct we will ask you to identify yourself. We focus on providing a platform where you can buy and sell cryptocurrencies with the greatest of ease. However, offering services without identifying our users would open the door to illicit activity as it could for instance allow criminals to buy bitcoins with a hacked bank account. We expect that laws and regulations will come into force in the not too distant future. To make sure that our customers won’t experience any inconvenience to these potential regulations, we already have a clear KYC policy in place.
The documents we receive from you will be saved to an offline, encrypted hard drive. The provided documents are only available to selected BTC Direct employees, and will never be shared with third parties.
Step 2: Create a Wallet
In addition to a BTC Direct account, you also need a wallet. You use your wallet to send, receive and manage your coins from. There are different kind of wallets, but we recommend our less experienced users to create an online wallet where they can store small amounts in. We recommend Exodus wallet for Android and iOS.
How does this work?
- Go to exodus.com
- Click download on the top right and choose desktop wallet.
- Download and open the wallet.
- Then click on the coin you want to receive, in this case bitcoin.
- Click receive and your bitcoin receiving address will appear. (You will need this in Step 3 shortly!)
- You are now ready to receive bitcoin but we recommend backing up first.
- To do this press the "settings" icon at the top right.
- At the top of the menu bar you will see backup, click on it.
- You will first create a unique password. This allows only you to access your desktop wallet.
- Then you will receive the "recovery phrase", these are 12 words with which you can always recover your wallet.
NOTE: These words give direct access to your wallet, so do not share them with anyone! Write them on a piece of paper and keep it in a safe place!
Step 3: Purchase at BTC Direct
Now you’ve created a BTC Direct account and a wallet, it’s time to buy bitcoin!
- Select ‘BTC’ or ‘Bitcoin’ in the calculator on our homepage. Enter the desired amount of coins, or the amount of euros you would like to spend in the price calculator. Click on the green button that states ‘buy bitcoin’. Now you will be shown an overview of your order.
- Enter your bitcoin receiving address in the corresponding field. You can find your address by selecting ‘receive bitcoin’ in your wallet. Please make sure to copy and paste the address, never type it in order to prevent mistakes.
- Select your preferred payment method. Please note: Only payments from your own bank account are permitted.
- Make sure you’ve entered the correct address, that you’ve read our terms of service and that you’ve agreed to them.
- After you’ve finished up your payment, a screen pops up that states ‘verify your transaction’. This is your last chance to make sure you’ve entered the correct address. Did you make a mistake? Please do not confirm the order but contact our support team instead, they will help you out.
When will I receive my bitcoin?
We will process your transaction instantly. In most cases your bitcoins will be in your wallet within ten minutes. But, there are always exceptions. When you place your first order on our platform or use a bank account that you haven’t used before, we will need to verify it manually. This means that when you place an order outside of our business hours, it could take a little longer.
In addition, it could also take more time before your transaction is visible in your wallet if it’s busy on the bitcoin network. This has nothing to do with the processing of your order by BTC Direct.
Summery
You’ve done your research and are now eager to buy your bitcoin. We would like to help you in doing so! The only thing you need are a BTC Direct account and a wallet. When you’ve created both, you can start buying bitcoin using a payment card or a bank transfer. The coins will be in your wallet shortly!
Fear of missing out?
Sign up for our weekly newsletter here!