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How & Where to Buy Bitcoin A Step-by-Step Guide to Buying BTC

Congratulations! You can buy Bitcoin directly with cash at Gemini.

  1. Sign up at our one of our top-ranked Bitcoin exchanges.
  2. Fund your new account with cash or crypto.
  3. Buy BitcoinBTC

Read on for detailed instructions below on where and how to buy Bitcoin and you will be a BitcoinBTC owner in no time at all.

  1. STEP 1Register at a BTC Exchange

    Best Bitcoin (BTC) Exchanges

    • 1486429286
      Ease of use
      Very Easy
      Time to 1st Buy
      10 min
      24h Volume
      $20,659,392
      Coins
      44

      Founded by the Winklevoss twins, who also conceived Facebook, Gemini is an ultra-convenient and incredibly legitimate platform that has gone through every level of financial scrutiny possible to be the most reliable cryptocurrency exchange in the US. Truly too legit to quit, this is one of the few exchanges where your funds are actually insured in case of theft. USD-only, features most of the well-known cryptocurrencies.

    After choosing one of the exchanges listed above, you will need to create an account. In some cases, the exchange will need some personal information like email address, phone number, name, address, and a copy of your government ID or passport.

    This is completely normal and all exchanges we list on this page have security in place to protect your personal info.

  2. STEP 2Fund Your Account

    It is now time to add funds to your newly created exchange account. This will allow you to purchase Bitcoin BitcoinBTC quickly.

    Upon signing up at the exchange, you should be shown easy to follow instructions to buy BTC with cash from your bank account or credit or debit card. Some exchanges also accept alternative funding methods such as Paypal, Apple Pay, Skrill, or Sofort by Klarna. You can also deposit any supported cryptocurrencies directly into your exchange account and trade them for BTC.

Frequently Asked Questions About Buying & Selling Bitcoin (BTC)

How do I Buy BTC with Crypto?

If you want to buy BTC with a cryptocurrency like Bitcoin, Ethereum, Litecoin, XRP, or BNB, then you can simply sign up for Gemini and send your crypto to your account.

You can view the supported cryptocurrencies for the exchange you selected by going to the assets or wallet screen. Once you see a list of coins, you should be able to select one and click "deposit" which will show you the address to send your crypto to Gemini.

You will then copy that address and paste it into the wallet holding your cryptocurrency and send.

Depending on the blockchain used and how quickly the exchange processes deposits, your funds should show up in your exchange balance within minutes.

How do I sell Bitcoin (BTC)?

To sell BTC, simply reverse the buying process described above. You will likely need to trade your BitcoinBTC into a USD coin like usdtUSDT. Look for a "Sell" button in your account wallet and sell for Dollars, then initiate a transfer to your bank account. To withdraw cash to your bank, you will likely need to complete a full KYC (Know Your Customer) process if you haven't already.

Bitcoin Research Center

Bitcoin Technical Details & Statistics

Tokenomics
  • Market Rank1
  • Market Cap785,260,992,970
  • Circulating Supply18,773,037
  • Total Supply18,773,037 BTC
  • Max Supply21,000,000
Yesterday's Trading
  • 24 HR Volume23,930,468,864 USD
  • Yesterday's High / Low---
  • Yesterday's Open / Close---
  • Yesterday's Change---
All Time Performance
  • All Time High---
  • All Time Low---

What is Bitcoin (BTC)?

Bitcoin (BTC) is the world’s first and most popular cryptocurrency. It has the highest market capitalization of any digital currency by far and the widest rate of merchant acceptance among all cryptocurrencies.

Brief History of Bitcoin

The bitcoin network was launched in January 2009 by the anonymous developer (or group of developers) Satoshi Nakamoto, who mined the first bitcoin block. As the network had no participants for several months, he mined all of the initial Bitcoin supply for several months. The total estimated ownership under his control is estimated to be close to 1 million bitcoins (this makes him one of the world’s wealthiest individuals). Upon Satoshi’s somewhat mysterious departure, the Bitcoin Foundation took control over everything Bitcoin-related.

In 2010, a major verification bug was fixed to make bitcoin transactions more secure, and the Bitcoin Network has operated more-or-less flawlessly since then.

“At its core, bitcoin is a smart currency, designed by very forward-thinking engineers. It eliminates the need for banks, gets rid of credit card fees, currency exchange fees, money transfer fees, and reduces the need for lawyers in transitions… all good things.”

Peter Diamandis, Founder of X Prize Foundation

How Bitcoin Works

Bitcoin works through a cryptographically-secured, decentralized ledger system known as the blockchain. It has no central repository or single administrator. In other words, it’s an open-source, peer-to-peer digital currency that is responsible for bringing about today’s blockchain revolution.

During a transaction, you need to issue a ‘send’ command containing the receiver’s wallet address and the amount of bitcoin to be sent. This information is received and approved via a ‘miner’ who essentially adds new entries to the blockchain ledger. The same amount of bitcoin is deducted from your wallet upon approval. The same process is followed to receive a payment in Bitcoin.

Why Should I Buy Bitcoin?

Bitcoin has several advantages over every-day, government-issued fiat currency, many of which come from it being the first of the cryptocurrencies. Here are the top reasons to switch your fiat currency into Bitcoin.

  • User Anonymity: Unless someone makes their identity public by choice (or through a cryptocurrency exchange requirement), bitcoin transactions are not easily traceable.
  • No Third-Party Involvement: It is impossible for banks, governments, or other regulatory bodies to freeze, stop, interrupt, or in any other way get involved in a bitcoin transaction. In fact, the Bitcoin Foundation itself cannot do that either because there is no intermediary between the sender and the receiver, unlike traditional currencies.
  • No Sales Tax: Due to the same reason as above, Bitcoin purchases are not taxable. There is no way to identify the buyer, and thus, it is technically impossible to impose sales tax on a product or service.
  • Low Transaction Fees: Bitcoin transfers are frequently very cheap because there is no third party involved. This is unlike other traditional fund transfers where exorbitant charges are levied by the banks or financial institutions, especially during international transfers.
  • Un-hackable: Bitcoin’s public ledger keeping system, known as the blockchain, has yet to be hacked or compromised in any way. This is advantageous for users and merchants alike because they can trade freely without concern for charge-backs or false payments.
  • Mobile Wallet: Users can make Bitcoin payments from anywhere, provided that the user has access to a computer or Smartphone and an internet connection. This also means that its users can bypass banks for monetary transactions. Moreover, no personal verification is necessarily required to make or receive Bitcoin payments.

 

For people who like to play casino games, bet on sports, or play poker, Bitcoin is becoming a popular choice for deposits & withdrawals. The reason is that it’s much easier to use Bitcoin for banking at gambling sites than credit cards or most other options. If you like to gamble online, you can view our best Bitcoin gambling sites.