Getting Started with Crypto - From Zero to First Purchase

Where Do I Start with Crypto Investing

This guide is for those who are interested in cryptocurrency but don't know where to begin. While it may seem complicated, it's actually not much different from setting up a banking app.

Here's the complete process:

1. Choose and register with an exchange
2. Complete identity verification (KYC)
3. Deposit fiat currency
4. Buy your first crypto

Step 1: Choose an Exchange

To buy cryptocurrency, you need to register with a crypto exchange.

Major Global Exchanges

For beginners, Coinbase is recommended for its user-friendly interface and strong regulatory compliance. Higher trading volume means easier buying and selling at desired prices.

For a detailed comparison, see our next article Cryptocurrency Exchanges.

Step 2: Registration and Verification

Account Registration

Download the exchange app and sign up with your email or phone number. Most exchanges recommend signing up through their mobile app.

Identity Verification (KYC)

Most regulated exchanges require identity verification to comply with anti-money laundering regulations.

Required documents:

• ID Document: Passport, driver's license, or national ID
• Proof of Address: Utility bill or bank statement (some exchanges)
• Phone Verification: Phone number linked to your identity

Bank Account Linking

Many exchanges allow you to link your bank account for direct deposits and withdrawals:

Step 3: Deposit Funds

Once verification is complete, deposit fiat currency from your linked bank account.

• Select Deposit in the exchange app
• Choose your currency (USD, EUR, etc.)
• Follow the transfer instructions

Deposits usually reflect within 1-3 business days for bank transfers. For your first deposit, start with a small amount ($50-$100) to test the process.

Step 4: Buy Your First Crypto

With funds deposited, you're ready to buy your first cryptocurrency.

What Should I Buy

For beginners, we recommend Bitcoin (BTC) or Ethereum (ETH) because:

• They're the most established and proven cryptocurrencies
• High trading volume means easy buying and selling
• Abundant information and analysis available

How Much Should I Buy

Cryptocurrency can be purchased in fractional amounts. Even if one Bitcoin costs $70,000, you can buy just $50 worth. Start with an amount you're comfortable with.

How to Buy

1. Search for the coin you want on the exchange
2. Click the Buy button
3. Enter the amount and select Market Order
4. Confirm your purchase

Market orders execute immediately at the current price. Learn more about order types in our dedicated guide.

Post-Purchase Checklist

After buying your first crypto, make sure to:

• Enable 2FA: Set up Google Authenticator or similar for security
• Set up alerts: Configure price notifications for convenience
• Keep it small: Only invest what you can afford to lose initially
• Keep learning: Learning while investing is the fastest way to understand the market

Common Mistakes to Avoid

Buying Based on Rumors

Investing just because someone said "this coin will moon" is dangerous. At minimum, understand what you're buying.

Going All-In

Only invest a portion of your available funds. Using rent money or emergency funds clouds your judgment.

Frequent Trading

Attempting day trading from the start often leads to losses from fees and psychological pressure. A buy-and-hold strategy is better for beginners.

Using BitInsight

On BitInsight, you can compare real-time prices across 6 major exchanges at a glance. Check where you can buy cheaper and use it to time your purchases.

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Next: Cryptocurrency Exchanges - Which Exchange Should You Use