This article going to explains beginner’s guide to buying Bitcoin on Cex.io exchange and basic detail, facts to consider. This article for beginners and includes each and everything needs to know to buy Bitcoin safely and the right way.
Before buying a Bitcoin, you need to create a Bitcoin wallet, If you don’t have any idea, how to create a Bitcoin wallet then, refer to how to create a Bitcoin wallet step by step.
Why needs to buy Bitcoin
01. Investment perspective: Bitcoin is a form of money and a major digital currency asset. It has a value like money and which have a lot of real-world use cases. Also, there is a lot of critics where the Bitcoin is a store of value asset like the traditional Gold. 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. If you want to trade Bitcoin with other cryptos and fiat currencies as day trader then, you have to buy Bitcoin.
03. Bitcoin can spend online to buy goods and services.
04. Send any amount of money globally without any third parties within a few minutes. ( For cross border payment)
Where to buy Bitcoin
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. From a friend: You can ask the friends to give a piece of Bitcoin(BTC) who already owns the Bitcoin for local money
02.From a cryptocurrency exchange: This a popular method to buy bitcoin. Using exchange can buy Bitcoin with credit or 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 P2P Bitcoin market place. In this platform, buyers can find BTC sellers locally and Internationally with various types of payment methods
Buy bitcoin on Cex.io with credit or 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. ), Crypto trading 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 country’s credit or debit card and Not supports some features.
So let’s get started, in order to buy Bitcoin via the secure and trusted platform.
Step 1: Create new account on Cex.io
Let’s go to the Cex.io website and click the “Register” button in the top right corner. Then fill the registration form correctly. There are three checkboxes for various things. After reading that phase 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 in the previous stage and click the “Proceed” button.
Next, go to the 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 the confirmation field in the Cex.io website then, click the “Proceed” button.
Next, you will direct to “Email confirmed” window and click the “Proceed” button.
Then, you will jump to the “Phone number verification window”. Select your county and type your phone number then, click “Proceed”. Next screen, select code receiving type SMS or Call. Prefer to select “SMS”.
Then, you will receive the secret code into the phone from the Cex.io and confirm the code. Then, click the “Submit” button.
Next, you will be directed ” Phone verified” window and click “OK” button.
Now, you have registered in the Cex.io 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 2: Verify the identity on Cex.io
Before starting Id verification you need proper English printed 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
First, click the “Start verification” button in the middle of the page you are staying in. Next screen select “Identity verification” and next click the “Ok, let’s go” button.
Next, screen, select the “County of residence ” tab. Then, you can select your county from the list and fill the other two or three fields that will be related to your country.
After, completing them click the next button. Here you will see the blue “Pending” box on the “County of residence ” tab. Then, you need to select the next one “Proof of identity document”.
Next screen, select “document type” which you have and then, click the next button.
Next screen, 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 the “next” button.
Upload the front and back of the side of your card in the next two screens then, click the “Next” button.
The next step is the tricky part, please does 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.
The next three steps fill the correct details. Then, click the “Next” button. You will bring back to the beginning of the ID verification. Here, you will see the 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 the address for buying BTC and trading. Leave here clicking the top right corner ” Exit verification” button and Log out the platform.
Next, go to the Cex.io and click the sign-in button in the top right corner. Next, enter the password and email then, click the “Sign in” button. In the next step, you have to confirm the 2FA code confirmation.
Next, you will direct to your account dashboard. 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 will fail. If you are failed, don’t worry still, you can buy Bitcoin(BTC) with credit or debit card.
Step 3: Add credit or debit card on Cex.io
Click the “Card” button on the top left corner of the profile section and click the “Add a new card” button. Next window you should provide card details properly then, click the “Proceed” button.
Then, you will be redirected to the 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 Driver 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 the card verification, contact the Cex.io support team.
Step 4: Deposit USD into your Cex.io account with credit or debit card
Before buying Bitcoin, you need to deposit the USD to your account. Let’s click the deposit button in the top right corner. In the next screen, choose the deposit method which is “Payment card”. Then, in the right corner, selects the currency (USD) and enters 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 a 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 5: Buy Bitcoin on BTC/USD market
Let’s go to the “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 than the actual market price. In this case, I recommended buying BTC from the BTC/USD 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 the amount to buy Bitcoin(BTC). If you click on USD balance, then Buy BTC for the 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 the balances in the finance section.
Congratulations, you bought the first of your Bitcoin piece.
Conclusion – beginner’s guide to buy Bitcoin on Cex.io
In this article, you are able to buy Bitcoin in steps. The guide will include the, how to register on Cex.io, verifying the identity and card properly.
Also, you will learn, how to buy the Bitcoin from the Cex.io BTC/USD market instead of using instant Bitcoin buying feature in the Cex.io
Other helpful readings,
- 10 Best ways to buy Bitcoin with credit card
- How to create the Bitcoin wallet step by step
- 4 Best ways to buy Bitcoin with PayPal