There are many methods available to people wanting to buy into cryptocurrencies.
The safest and most popular methods are to use exchanges that allow you to buy in using credit cards, debit cards and direct bank transfers. It is also possible to buy in using special crypto ATM’s.
The most popular exchanges to use are:
You can buy and sell Bitcoin using ATMs that are far more abundant than most realise.
There are two websites that customers can use to find the nearest ATM to them.
How do ATMs work for buying Bitcoin?
ATMs allow users to buy and sell Bitcoin for cash.
The fees can be more expensive than doing this online, but it is a useful option to know about.
The general process of using an ATM to buy is:
- Chose language and press start.
- Choose buy Bitcoin.
- Choose amount you wish to purchase.
- Verification step. (This can sometimes be optional, although with more regulations we feel ATMs will eventually force you to be verified).
- You will need to provide a Bitcoin address (your account number). You can do this using our other guides of setting up a wallet address. If you do not have a Bitcoin wallet some machines will print you one on the spot.
- Insert cash into the ATM
- Click send or to finalize the transaction.
- Get a receipt.
There are many different Bitcoin ATMs and this is the best comprehensive guide to how to use each one. They cover the majority of the ATMs you are most likely to use and have a very nice step-by-step video on each one.
How do I sell Bitcoin for cash using an ATM?
Not all ATMs allow you to sell Bitcoin for cash, but some do.
The 4 most popular ATMs that allow cash withdrawals are:
- Genesis coin.
- General Bytes.
The basic process to sell your Bitcoin is:
- Choose a language.
- Choose to sell Bitcoin.
- Choose amount your wish to sell. (Limits sometimes apply).
- Verification can sometimes apply.
- The machine will give you a QR code for you to scan.
- Send you Bitcoin.
- Take your cash.
- Get a receipt.
For a comprehensive guide and videos to how to sell Bitcoin into cash using the most popular ATMs click this link.
Video guides to using ATM’s.
What is Bitpanda?
Bitpanda is a well-respected European automated platform that allows you to buy multiple coins using a voucher, a direct bank transfer or a credit card.
Go to https://www.bitpanda.com
Which payment methods can you choose from?
Which Coins can I buy?
Currently you can buy Bitcoin, Ethereum, Dash, Litecoin, Bitcoincash and Ripple and many more.
Which payment options are available to me?
- US Dollar
- Swiss Franc
- British Pound Sterling
Link to payment guide:
Which Fiat wallets are available to you to deposit?
British Pound Sterling Wallet
US Dollar Wallet
Swiss Franc Wallet
Which Crypto Wallets are available to you?
You can also create more crypto wallets by clicking Add new Wallet.
Link to full guide about wallets:
How to set up a price alert for Crypto.
This is where you set up a price alert on cryptocurrencies.
Which countries can use Bitpanda?
Getting started with Bitpanda.
Click Get started now.
Helpful guide Link:
Go to this link to sign up.
Now follow 2,3 and 4.
Now you need to go to your email and follow the link to sign into your new account.
You will now need to verify your account:
Helpful guide link:
You will now need to verify a deposit into your account.
Increasing your limits:
Link to limits to your account:
Once you are fully verified you are still restricted to a 2,500 Euro first time purchase, once you have reached that you are automatically upgraded to being able to buy and sell as much as you want.
There are 4 levels of verification available to you and each one allows you to up the amount you are allowed to buy or sell in a given period:
What do I need to do for each level of verification?
The first level is the starter level and is very easy to do. Simply verify your email account with them. They will send a link to your email address, which you click on and then you are verified.
As you can see below the starter level does not allow you to buy any coins, but you can sell some. It does however allow you to use their vouchers to buy coins if you happen to have any.
The next level is the Bronze level of verification.
You simply put in your phone number and they send you a verification code (SMS) directly to your phone. You then put the code they sent you in and you are now Bronze verified.
If you now look at the Bronze daily and monthly buy and sell limits they have increased. You can now buy small amounts using online payments, a bank transfer or their vouchers. You however cannot yet use a Credit Card until you become Gold certified.
The final verification level Gold.
You need to activate your webcam and have your passport ready. You will be put in a queue for a live chat over webcam where they will want to screen shot your face and passport from different positions including the watermark angle.
It took less than 5 minutes.
You can see from below that your level of buying and selling has increased.
If you have trouble verifying please go to this link:
Depositing/selling out and user guide for Bitpanda.
When you sign in you will see a dashboard:
Set up your factor 2 security:
Scroll down till you see this:
Once in the security section take your phone and go to your Google authenticator app and press to add a new QR code. You will have a QR code on your Bitpanda security page and you hover your phones camera over the code and it will automatically set up your factor 2 for Bitpanda.
An example of your QR factor 2 code:
Deposit into your Fiat wallet.
Follow 1-6 to deposit into your account:
Link to deposit guide:
Go to deposit in your dashboard:
Choose a wallet to deposit into:
Then choose the method you wish to use:
Example choose Visa card:
Put in the amount you wish to deposit:
Now confirm and follow the instructions.
Deposit fiat using a bank transfer:
How to withdraw Fiat from your wallet:
How to buy Cryptocurrencies.
Useful link to buying cryptocurrency:
How do I sell cryptocurrencies?
Useful link to sell cryptocurrency guide:
How to deposit Bitcoin into your Bitpanda wallet:
What is Coinbase?
How to set up an account?
Go to this link:
Now follow these instructions:
Fill in your name, email address and create a good password stored safely not on your computer.
Please note you must use your real name as it appears on your passport or drivers license.
- Password. You will need to include a combination of upper and lowercase letters and at least one number.
- Check the Create Account button.
- Now you will need to go to the email you used to sign up with and you will see an email from coinbase. Within the email will be a confirmation link and click on this link and it will activate your account.
Once you have signed up log in here:
Now you will need to confirm your identity on Coinbase.
You will be given several methods during the creation process and also afterwards in the settings> Security option in the Coinbase Dashboard.
Confirming your identity on Coinbase will also allow you to increase your buy limit (increases your weekly cryptocurrency buy limit)
Simply select which country your number is registered and add your number. Once you have done this Coinbase will send you an SMS to your phone with a code. Enter the code in the verification field and click the verify button.
Go to settings> My profile in your Coinbase Dashboard.
Fill in your residential address including your Country. You must put your real address here.
You will now be asked to confirm your identity by supplying your passport or drivers license.
- In the accounts setup, you will see a button that says Start Verification.
- You will be given a few choices but most use their passport.
- The next screen will allow you to access your camera. Hold your ID in front of your webcam and simply press the Take Snapshot button.
- If the picture is good simply press Finish and start verification button. If however the picture is not good simply press the take another snapshot button and repeat again.
- You may have to wait a few days or even longer if Coinbase is ninundated with others doing the same process.
Coinbase Payment Options
If you are based in the U.S you can use PayPal to redeem cryptocurrency for cash, wire for withdrawing and depositing funds, and a credit or debit card for buying cryptocurrencies.
If you are looking to make regular deposits and withdrawals it is best to link your bank account to your Coinbase account.
When you are verifying your ID in the initial set-up you will be asked to add a payment method. It is easier to do this all at the set-up stage, but you can also add later by going to the Buy/Sell link in the top menu and go to Add a new account under Payment Method.
If you add your credit/debit card or PayPal information it will allow you to buy coins immediately. Bank accounts take a few days longer.
Increasing our Coinbase buy limit.
You can increase your limits by doing the following:
Complete your profile:
This is the easiest method to quickly increase your limit. Add and confirm your phone number and submitting at least one ID document. You can scroll up and see how to do this if you missed this part.
Make regular payments:
You limits are increased if you make regular purchases. Simply make small frequent weekly purchases for a month or two.
The older your account is, the more legit it will appear to Coinbase.
Once you have been fully verified you will see this:
Once you are up and running it is advisable to set-up your 2-factor security for your Coinbase account.
What is 2-factor authentication (2FA)?
Two-factor authentication (2FA), also known as 2-step verification, is a security layer in addition to your username and password. With 2FA enabled on your account, you will have to provide your password (first “factor”) and your 2FA code (second “factor”) when signing in to your account. 2FA codes are associated with a specific device (such as your phone) or your phone number.
How to set-up 2-factor authentication:
Official Coinbase help page:
ID verification Coinbase link:
Enable your webcam to verify:
Contact phone numbers:
How long does it take for a deposit/withdrawal to complete?
Where is my wallet address?
Coinbase: Add/withdraw funds/buying and selling guide.
Adding funds to your account:
First you will need to add funds by bank transfer/PayPal or card.
Simply go to the Accounts button and you will see this:
Click deposit on your £/$/Euro and you will be given a reference number and ensure you write this down.
Input the amount and send or withdraw.
How do I buy coins on Coinbase?
Once you are on Coinbase you can simply go to this link:
Here you will find entire guides to everything you will need.
How do I buy cryptocurrencies on Coinbase?
The buy/sell button is on the main page:
You should now see this:
Now put the amount in fiat ($,£) into the bottom box and you will be able to buy the coin of your choice.
If you would like to buy more assets (different coins) go to the Dashboard and you will see:
Now click on this and you will see more buying options.
To sell simply go to the sell button and repeat:
We have used this site to buy Bitcoin and the site is for UK customers using sterling to buy Bitcoin. You can however choose the following currencies USD, EURO and GBP. We also suggest you play around with the site to get a feel for it once in.
Once you are on the site scroll down to the bottom of the main page and you will see this:
Once you have clicked ‘Create free account’ you will be taken to the 3 step sign up page.
The next step is to provide an email address and choose a password. We suggest making the password difficult to guess and to store it safely off your computer.
Once you have completed this stage go to your email account and you will see an email asking you to confirm your account. Go to the link in the email and confirm.
The next step you will need to set up your factor two security.
Once into the site you need to go to ‘my account’.
Now go to the ‘dashboard’ button and click.
This is the final stage and you will be asked to scan in your ID (passport is best) and also a scan of your proof of address (a utility bill will do).
Once you are verified you are free to use the site to buy and sell Bitcoin.
Go to ‘my account’ and click.
Now click on deposit and you will be given a choice of options as seen below.
We shall use Pound sterling as an example. Click on the pound sterling button.
It is worth noting that they have a minimum deposit amount of £2,500.
You now click the box saying you understand and it takes you to a page showing their bank details for you to wire the money directly from your bank to your account on coinfloor.
Although it says it takes up to 4 days for the deposit to arrive we found it usually arrives in your account within one hour. It has however become rather popular recently and could take a little longer now to clear, so allow for this.
Now head over to the ‘Exchange’ button at the top of the site to buy Bitcoin.
Once on this page you will need to put in your password again to access trading.
Now that you have done this you can scroll down to the ‘Bids’ and ‘Asks’.
The ‘Bids’ are the buy orders and the ‘Asks’ are the sell orders of Bitcoin.
You can decide on the price you wish to buy or sell at and place an order using a limit order. If you feel Bitcoin price is going to go down short term you can place a cheeky bid price way down and just let it auto fill while you’re enjoying a pint down your local pub.
If however you feel Bitcoin price is going up you can buy using the market order button and it means you pay the current market price.
Above you can see we want to buy £100 at market price and it shows how much you shall receive.
You simply reverse this when it comes to selling your Bitcoin back into your bank account.
Now you will want to get your Bitcoin off of the exchange and into your Bitcoin wallet.
Go to ‘my account’ and click and you will now see the withdraw button and click this.
For this example lets withdraw Bitcoin into your own wallet, so click on the Bitcoin button as seen above in the withdraw section.
As you can see above you have a registered Bitcoin wallet address, which you simply paste your Bitcoin wallet address into and click update. You can change this wallet address as many times as you like in the future.
Once you have your Bitcoin wallet address done put how much Bitcoin you want to withdraw and click the ‘withdraw XBT’ button and you’re done.
It can take a little time for your Bitcoin to arrive in your wallet.
If for any reason you have any issues at all they have fantastic support that get back to you very fast.
Whichever page you are on in their site simply scroll to the bottom and click ‘support.’
Coinfloor is open for business from 9am to 5pm GMT, Monday – Friday (excluding public holidays).
In the support section you can go to the top right and click ‘submit a request’ and you will be given a form to fill out and they will email you back. We have done this and found them to be very quick and answered our questions to our satisfaction.
You will also see they have a step by step answer guide for every question you need to set up your accounts, withdraw, verification stage, factor two guide, etc. We actually set up our entire account using these guides but we wrote this guide to make it a little less confusing for you.