When it comes to buying crypto for the first time it can be a little nerve-racking. The biggest question is: Where do I buy it?
The answer to this question is going to depend on where you’re located. If you’re located in the US I would stick to Coinbase until you’re more comfortable.
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Buying ETH on Coinbase
Visit Coinbase and click Get Started
Fill out your information and click Create Account
Next you need to set up a phone number for security measures. This will be used to help secure your account with a 2nd authentication measure. When you log into Coinbase, they will send a text to your phone. This will help prevent malicious login attempts.
Enter your phone number and click send code.
Enter the auth code sent to your phone and click submit.
Next you need to fill out the KYC (Know Your Customer) information. Since Coinbase is located in the US it has to follow the financial regulations and verify your identity.
Once your identity is verified you’re ready to buy!
When you are ready to buy, click Trade at the top of the screen
The buy option defaults to BTC so we want to change this to ETH. Click the buy button
Select ETH from the options
Enter the amount of Fiat that you would like to spend – then click Preview Buy
The preview box will show how much ETH you are receiving for your fiat
Click Buy now and you have officially purchased some ETH! Depending how you pay, the funds might not be transferable for a few days until after the funds have cleared.
Earn Crypto on Coinbase
Coinbase also has great section called Coinbase Earn. It’s their way to help educated the masses and get more people interested in cryptocurrencies. Once you have an account you can learn about some of the different currencies on the Coinbase platform and get a few $ work of that currency for completing the modules.
Once you are logged in you should see the different coins that you can learn about
Then once you click into each coins, there are different videos that you can watch. Each video will explain different aspects of that coin and each video is roughly 2-5 minutes long. After the video completes there will be a few simple questions regarding the video. Here’s examples of EOS
The Coinbase Earn videos are not required to use Coinbase, but its a quick easy way to earn a little bit of crypto, then you can trade these coins you have earned for more ETH!
Buying ETH on KuCoin
Click on Sign Up
You can sign up with either your phone number or email address. Either way, you will need to verify a code send to that device.
Enter your phone number/email and click Send Code. Then you 60 seconds to verify the code you received, set your password and click Sign Up
Once you click sign up, you’re taken to your assets page. You’re ready to buy some crypto.
First you need to create a deposit address for ETH. This will be where your purchased ETH is sent once the transaction goes through.
Click the Deposit button
Click the dropdown and type “eth” to narrow down the options. Click on Ethereum
You ETH deposit address will automatically be created for you.
Now we are ready to buy some ETH. Click Buy Crypto at the top, and click Buy with Credit Card
There’s two different services you can use to buy with: Simplex or Banxa. The main different seems to be which cryptos you can buy, and which fiat currencies they accept. You might need to check both to see if you countries fiat is accepted.
Select the service you want to use. Change the order amount to ETH and select how much you would like to purchase. Then select the currency you are paying with.
Click Buy Now and you will get a pop-up box. Agree to the terms and click Confirm
You will get sent over to the Simplex (or Banxa) site to finish your purchase.
First you will fill out the payment information. Fill out all of the credit card and billing information, agree to the terms, then select Pay Now
Assuming this is your first time using Simplex you will need to confirm your email and phone number. Once you confirm each, you will get a green checkmark next to it. Click continue
If your bank and credit card allow the transaction you will get the ETH into your account!
Once it shows up into your account you can withdraw it to your personal wallet.
Withdrawing To Your Wallet from KuCoin
Click Main Account
In the search bar type “eth” to narrow down the coins. Click Withdraw next to ETH
Enter your MetaMask or Trust address into the Wallet Address. Select the amount of ETH you’d like to withdraw, or click Max if you want to withdrawal all. You do not need to enter a Remark. Click confirm
Now you just need to wait a bit for the transaction to go through and you are ready to spend your ETH!