Buying Bitcoin

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How To Buy Bitcoin For Your Trading Account

Many see cryptocurrency as confusing, not knowing where to start. But hopefully our guides will help you to feel confident to begin, what could be an epic journey in the world of cryptocurrency, with the bonus of making money along the way.

Buying Cryptocurrency

So, before you begin trading, you need to own some cryptocurrency. Regardless where you trade, Bitcoin is taken as a deposit method. Plus, apart from the occasional site, is the easiest way to fund your account.

There are lots of sites where you can buy Bitcoin, but many are new and not always the best. Although we would not like to discredit any site, Coinbase is a tried and tested wallet that we would recommend. Click HERE to deposit!

USE OUR LINK HERE AND DEPOSIT $100 (around £80) AND VERIFY YOUR ACCOUNT, YOU WILL RECEIVE AN EXTRA $10 OF BITCOIN!

Coinbase has been around for a while. You can deposit direct from your bank account or by credit/debit card. The great feature we love about Coinbase is that you can withdraw instantly to PayPal if you wish to spend your well-earned Bitcoin. All wallets will charge you a transaction fee for buying crypto (it’s their way of making money).

When depositing on Coinbase we advise you buy Bitcoin, rather than any other currency. You will only pay a fee once this way. Verify your account and if you have deposit $100 or more, you will see your extra Bitcoin appear within around 10 minutes.

If you need help depositing to your Coinbase account, click HERE for a tutorial.

Choosing A Trading Account

So, if you’re reading this part of the guide then you must have bought some Bitcoin. CONGRATULATIONS! So now you’re ready to find a trading platform so begin making money.

We will review each trading site separately, so you can get a feel for each but for the purpose of this tutorial, we will be using one of our favourite sites, Bitmex. If you haven’t already, signup to an account HERE. By signing up using our link, you will discount on trading fees for 6 months, so it is worth using the link. (Note, with Bitmex, you can have 2 accounts, so if you already have an account and you don’t benefit from trading fee discounts, you can start a fresh with our link).

Of course, if you would like to try a different site, look at our reviews of the top trading sites around HERE.  Each site has their own pro’s and cons, so be sure to choose the right one for you.

Depositing Bitcoin To Your Trading Account

NOTE: For the purpose of the guide, we will be using Bitmex as our trading platform.

So now you have opened your trading account, you now need to move your Bitcoin from your wallet (Coinbase) to your trading account (Bitmex). Funds can take between 5 and 60 mins to transfer so don’t panic if it doesn’t pop up straight away.

NOTE: The Bitmex steps are the same regardless of device.

Bitmex

  1. Go to account
  2. Select deposit
  3. Copy the long wallet address (you’ll need this shortly)

Coinbase via web

  1. Navigating through your accounts and find your Bitcoin wallet.
  2. Click the send button from the wallet with your Bitcoin in.
  3. Click on wallet address and enter the address you copied from Bitmex.
  4. Click continue to send the funds to the chosen address.
  5. Enter amount you wish to send.
  6. Press the send button.

Coinbase via IOS

  1. Press the menu icon in the top left to open the Navbar.
  2. Select the wallet (Bitcoin in this case).
  3. Choose the wallet you wish to send to (enter address from Bitmex).
  4. Press the paper airplane icon in the top right corner.
  5. Enter amount you wish to send.
  6. Press the send button.

Coinbase via Android

  1. Press the menu icon in the top left to open the Navbar.
  2. Select the wallet (Bitcoin in this case).
  3. Press the + icon in the bottom tight of the screen.
  4. Press the send button.
  5. Enter the amount you would like to send.
  6. Choose the wallet you wish to send to (enter address from Bitmex).
  7. Review and press the forward arrow in the top right corner to send.

NOTE: The Coinbase steps are the same when transferring your Bitcoin to most trading sites. But each trading account will have a DIFFERENT wallet address, so make sure you have the correct one.

So now you have Bitcoin on your trading account (congratulations) follow our guide of how to trade with your Bitcoin. Click the relevant link below for a guide on our chosen platforms.

Bitmex


			

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