Buying Cryptocurrency: A Quick and Easy Guide

Learning something new can often feel daunting, which is why we’ve created this really easy tutorial on how to quickly buy crypto using Coinbase.

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Buying Cryptocurrency: A Quick and Easy Guide 1

Learning something new can often feel daunting, which is why we’ve created this tutorial to show you how buying cryptocurrency can be quick and easy on Coinbase.

HOW TO CREATE AN ACCOUNT ON COINBASE

Please note: These steps were written based on signing up from the UK and some of these steps may vary slightly depending on which country you’re signing up from.

Step 1 –

Go to www.coinbase.com

Note: it will probably take you through the usual captcha bullsh*t.

Step 2 –

Enter your email address and press ‘get started’.

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Step 3 –

Enter your name and create a password (make it a strong one!)

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Step 4 –

Click through all the GDPR and data protection information and decide whether you want to receive marketing emails from them.

Step 5 –

Verify your email – once you have verified your email address the page will automatically take you to the next step.

Step 6 –

Next, you will be asked to set up two-step verification.

Enter your dialing code and phone number, then press ‘send code’.

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Step 7 –

Enter the code sent to your phone to authenticate your number.

Step 8 –

Select your citizenship.

Step 9 –

Verify your identity with your address, date of birth, and a few questions about how you intend to use Coinbase.

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Step 10 –

Answer a few more questions on how much money you plan to trade a year, and what industry you work in.

Step 11 –

You will be asked to formally verify your identity with your passport, drivers license, or a national ID card. Choose one and follow the simple steps to upload proof.

Step 12 –

Congratulations, you have created an account! Now you must wait for them to review and approve your account — they say this may take a few days but, in my experience, it can be done within an hour or two. Once it has been approved you will be able to complete the following steps to purchase and spend crypto. Regularly check your email for updates.

HOW TO PURCHASE CRYPTO ON COINBASE

The following steps will explain how to purchase Litecoin, but no matter which currency you purchase the steps will be the same.

Step 1 –

On the homepage you will see a button labelled ‘add payment method’, press it.

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Step 2 –

Choose your payment method — if you’re just using to buy products from 1CPLSD.COM then choose credit/debit card.

buying cryptocurrency

Step 3 –

Enter your card details and you’re all set to start buying crypto!

Step 4 –

You will now notice that where it previously said ‘add payment method’ it now says ‘buy crypto’, press it.

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Step 5 –

Choose the type of crypto you would like to purchase — we highly recommend Litecoin for purchases made on 1CPLSD.COM. Then, make sure the payment method you just added has been selected and that ‘one-time purchase’ has been chosen from the drop-down menu. Next, select or enter the amount you would like to purchase.

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Step 6 –

You will now be able to review the breakdown of your purchase. Once you are happy, press ‘buy now’.

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Step 7 –

Next, your payment will go through authorization from your bank and you may be guided to approve your payment.

Step 8 –

You did it, you purchased your first crypto!!!

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HOW TO SEND CRYPTO USING COINBASE

Step 1 –

Press the ‘send/receive’ button in the top right of the screen on the homepage.

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Step 2 –

Use the switch button to make sure you are sending LTC and then enter the amount you would like to send — double check you’ve entered the correct amount!

Next, enter the address given to you on Coinpayments — it’s the weird, long looking combination of letters and numbers (not the payment ID) — triple check you’ve entered the correct one!

Please note: the address for each order is unique, so don’t reuse it! You will only have 1 hour 30 minutes before the address expires, so don’t send to this address if you’ve waited too long.

Press ‘continue’.

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Step 3 –

Here you will have the opportunity to double check before sending. Once you’re happy, press ‘send now’.

An authentication code will be sent to your phone, enter this on the next screen.

Step 4 –

You did it!

THINGS TO REMEMBER

  • Buy more crypto than you need to cover fees and market fluctuations – we suggest 10% extra (you can use preev.com to calculate how much to buy)
  • Have your crypto ready before proceeding to checkout as you will have a very limited period of time to make the payment before the link expires
  • Make sure to pay the minimum amount requested – too little and your request will eventually cancel, and your order will be delayed
  • Please double check that you have entered the address provided by CoinPayments correctly before paying
  • To protect your crypto, always store it in a wallet, not an exchange – we suggest Exodus.io, Electrum, or Electrum LTC
  • If you lose the CoinPayments screen at checkout or the timer expires, you can generate the crypto payment details again by going to My Account > Orders > PAY.

There you have it, buying cryptocurrency made easy!

Time to shop!

1V-LSD may be banned around mid-July - see our blog here.