STEP 1

Choose an exchange

A cryptocurrency exchange is a platform where buyers and sellers meet to trade cryptocurrencies. Some of the most well-known cryptocurrency exchanges are Coinbase, Gemini, and Binance.US.

STEP 2

Create and verify your account

Depending on the exchange and the amount you plan to buy, you may need to verify your identity by submitting a driver's license or passport.

STEP 3

Deposit cash

You might deposit money by linking a bank account, performing a wire transfer or using a credit or debit card.

STEP 4

Place your Cryptocurrency order

Now you’ll decide what cryptocurrency to purchase and how many coins you’d like to purchase. You can usually buy fractional parts of a coin or token as low as $1 in value.

STEP 5

Select a storage method

You will need to have a secure storage place for your cryptocurrencies like hot and cold wallets. Exchanges, hot wallets, and cold wallets all have their own benefits, so you will need to choose the option that works best for you.