Last updated on June 17, 2019
In this article going to explain buying bitcoin in Cex.io exchange and basic detail, facts to consider. This article for beginners guide and post each and everything needs to know to buy bitcoin safely and the right way. Before buying need to create a Bitcoin wallet, If you don’t have any idea to make bitcoin wallet then refer How to create a Bitcoin wallet step by step guide.
Why needs to buy bitcoin
01. Investment perspective: Bitcoin is a kind of cash and major digital currency asset out there. It has a value like money and which have a lot of real-world use cases. In this case, we can buy bitcoin as an investment asset but BTC( Bitcoin) and other digital assets such as Ethereum, Litecoin, Ripple, etc., are very volatile of prices. In this case, it is a very risky investment asset. Anyway as an investment we need to buy bitcoin.
02. Bitcoin can spend online to buy goods and services. Until now there are few methods to spend BTC online.
03. Send any amount of money globally without any third parties within a few minutes. ( Money transferring method )
Where to buy
Clearly, there are several methods to buy bitcoins. In this situation where buy change with buyer location and status of the county. Some countries have restricted digital currencies with regulations. Also, buying methods can differ from county to county. Anyway, There are three main methods to buy bitcoin easily.
01.Form a friend: You can ask the friends to give a piece BTC who already own the bitcoin.
02.From a cryptocurrency exchange: This a popular method to buy bitcoin. Using exchange can buy bitcoin with Credit/Debit card, Bank transferring and using Skrill, Paypal( Few ways to buy BTC using Paypal legitimately ), etc. In this article bitcoin buying guide based on Cex.io global exchange and using Credit/Debit card.
03.From the local or international sellers. There is a platform called Localbitcoins which is BTC buying and selling platform. In this platform, buyers can find BTC sellers locally and Internationally with various type of payment methods.
Buy bitcoin on Cex.io using credit/debit card
Cex.io is one of the most popular global cryptocurrency exchange which was operational since 2013. Cex.io Ltd based on United Kindom trusted by millions of users and which is provide crypto/fiat exchange ( Fiat: traditional currency such as USD, GBP, etc. ), Cryptotrading platform, Margin trading platform and Android and iOS apps. Also, this exchange accepts Visa/Master credit/debit cards, Wire transferring facilities as well. This exchange globally operational but the exchange doesn’t accept some countries credit/debit card and Not supports some features. Find out support countries
So lets get started to buy bitcoin secure and trusted platform.
Step 01: Register the exchange
Let’s go to the Cex.io website and click the register button top right corner. Then fill the registration form correctly. Type the strengthen password. There are three checkboxes for various things. After reading that phases checked the boxes where the first one is optional. After completing all fields click the captcha button and register button.
Then you will be directed to the email confirmation window. Double check the email you provided the previous stage and click the “Proceed” button.
Go to registered mail inbox, There will be an email from Cex.io and view the mail. Then click the email confirmation button or copy the alternative code and paste in confirmation window’s field(Cex.io website) again click the “Proceed” button. Next, you will direct to “Email confirmed” window and click “Proceed” button.
Then you will jump to “Phone number verification window”. Select your county and type your phone number then click “Proceed”. Next window select code receiving type SMS or Call. Prefer to select “SMS”. Then you will receive the secret code the phone from the Cex.io and type it in the next window “Code” field. Then click the “Submit” button. Next, you will be directed ” Phone verified” window and click “Ok” button.
Now you have registered the Cex.io bitcoin exchange. Here don’t recommend buying from here instantly but If you want to buy Select “BTC” to get section and type amount to buy. click “Buy now” and go forward. Let’s go with Id verification.
Step 02: Identity verification
Before starting Id verification you need proper English written document which can be Passport, Drivers license, or Government issued ID card. Then take a clear photograph of both sides. Read this guide provided by Cex.io
Let’s get verified the account click the “Start verification button” middle of this page. Next window select “Identity verification” and Next click the “Let’s go” button.
Next window select “County of residence ” tab. Then you can select your county from the list and fill other two or three fields which will be related to your country. After completing them click next button. In here you will see blue “pending” box on “County of residence ” tab. Then you need to select the next one “Proof of identity document”.
Next window select “document type” which you have available. and then click next button.
Next window document submission type recommended selecting ” Submit files” but select “Use your mobile phone” if you have a good selfie and main camera. You can make your document scanned or take photos clearly and stored on your computer. Then click “next” button.
Upload front and back of side of your card in next two window then click “Next” button.
Next window is the tricky part, Please do like that exactly. Your image should be clearly visible and readable. After uploading these images click next. If you go through the mobile the same procedure will apply.
Next three steps fill the correct details, Then click the “Next” button. You will bring back to the beginning ID verification. Here you will see blue “Pending” button and queue number. It will take a while to complete the Id verified.
Also, If you would like to verify your address then start to begin with ” Address verification”. For now no need to verify address for buying BTC and trading. Leave here clicking top right corner ” Exit verification” button and Log out the platform.
Again goes to the website and click sign in button in the top right corner. Next enter password and email then click “Sign in”. Next will be in “2FA confirmation” window and Select SMS or Call type and Then you will receive 7 digit code to your phone. Type that code in “Enter Confirmation code” field.
If you correctly entered you will be directed to your account dashboard. In here you can check your verification status. To check the verification status click the profile ” ID “top right corner and select “Verification” from the drop-down menu.
If you correctly completed the ID verification process, you will be ok. Otherwise, your verification fails and Resubmit date will be provided by the website. If you are failed, Don’t worry still you can buy BTC using credit or debit card.
Step 03: Add credit or debit card.
Click the “Card” button on the top left corner of the profile section and click “Add a new card” button. Next window you should provide card details properly then click the “Proceed” button.
Then You will be redirected to Card verification section. Please read the Cex.io card verification guide to proceed further. Prepare Selfie with your card and any of identity documents such as Drivers license, National Id or Passport. Upload the selfie with your card and Other Docs. Lets “proceed”
After completing the above process It will take some time to verify your card. If you have any issue with card verification contact supports team.
Step 05: Deposite USD to your account
Before buying bitcoin you need to deposit the USD to your account. Let’s click the deposit button top right corner. In the next window choose the deposit method which is “Payment card”. Then right corner selects the currency( USD ) and enter the amount you want to deposit( Minimum deposit is 20$ ). Then select the card and enter the CVV code and click the “Deposit” button.
After this step may vary from bank to bank. Here your bank may ask to verify the transaction through SMS or any kind of mean.
If you all do correctly, You will be redirected to new window says ” Your deposit request has been submitted”. Here you all done, the deposited amount credited to your account within few minutes by Cex.io financial department.
Step 06: Buy bitcoin
Lets go to “Trade” section of the top main menu. Note: Here you can directly buy BTC from the “Buy/Sell” section of the top main menu where bitcoin rate per USD is higher the actual market price. In this case, recommended buying BTC from the market.
There are few markets such as BTC, ETH, BTG, etc in the left side of the page. Now select the BTC market and select BTC/USD pair from the drop-down. Also, you can see the BTC/USD chart, Market depth indicator, etc. Let’s scroll down to the bottom section and select “Limit Order” from three tabs.
Then under buy BTC, select amount to buy BTC (If you click on USD balance, then Buy BTC for entire balance )and price per BTC. You can see Sell orders bottom section choose an appropriate price and click blue “Place the order” button. Also, you can see active orders below the order book.
After order being executed your BTC balance will display top of the page. also, you can see all balances in finance section.
Congratulations you bought the first your Bitcoin piece.
In this article contain bitcoin buying guide through Cex.io cryptocurrency exchanges for beginners. Include exchange registration, ID verification, Card verification, USD depositing, finally BTC buying.