Buying Your First Crypto SAFELY! [Beginner's Tutorial]

Crypto Banter
23 Jul 202410:19

Summary

TLDRThis video guide by Fafa teaches viewers how to purchase their first Bitcoin or cryptocurrency. It covers selecting a coin, using platforms like CoinGecko and Bitget, and different methods of buying crypto with fiat currencies, including credit cards, peer-to-peer trading, and OTC. Fafa also explains how to manage funds in various exchange accounts and convert currencies.

Takeaways

  • 😀 The video is a guide on how to buy your first Bitcoin or cryptocurrency.
  • 🔍 Use CoinGecko or CoinMarketCap to find and research coins before purchasing.
  • 💡 CoinGecko is preferred for its user-friendly interface and comprehensive listing of tokens.
  • 🔑 To buy a specific coin, search for it on CoinGecko and check the market section for available exchanges.
  • 💸 When buying crypto with fiat currency, choose an exchange that supports bank transfers or credit card payments.
  • 🌐 Bitget is highlighted as a preferred exchange with a high trust score, wide range of coins, and user-friendly platform.
  • 💳 Bitget offers various buying options including credit/debit card, peer-to-peer trading, OTC, and quick buy.
  • 📈 Bitget's peer-to-peer trading feature allows for 0% fees and interaction with sellers worldwide.
  • 💰 For larger investments, Bitget's OTC service facilitates transactions of significant amounts, starting from $100,000.
  • 📱 The purchased coins are deposited into the user's spot account on the exchange.
  • 🔄 If USDT or another stablecoin is purchased, it can be easily converted to the desired cryptocurrency within the platform.

Q & A

  • What is the purpose of the video?

    -The purpose of the video is to guide viewers on how to buy their first Bitcoin or cryptocurrency, providing a step-by-step process and introducing the platform 'BidGet'.

  • What is the recommended platform to find out where to buy a specific coin?

    -The recommended platform to find out where to buy a specific coin is CoinGecko.com, which lists all the tokens available and the exchanges they are listed on.

  • Why is CoinGecko preferred over other platforms like CoinMarketCap?

    -The presenter prefers CoinGecko because of its user-friendly interface and comprehensive listing of tokens, including both newly launched and more established ones.

  • What is the significance of the 'Market' button on CoinGecko?

    -The 'Market' button on CoinGecko allows users to see all the exchanges where a specific token is listed, which is crucial for determining where to buy a coin with fiat currencies.

  • Why is BidGet chosen as the example exchange in the video?

    -BidGet is chosen because it is a sponsor of the video, has a high trading volume, lists a wide variety of cryptocurrencies, and is known for accommodating both early and large coins.

  • What does the trust score on CoinGecko indicate?

    -The trust score on CoinGecko indicates the reliability of an exchange, based on factors like volume verification and the authenticity of the trading activity.

  • How can one purchase Bitcoin or other cryptocurrencies on BidGet?

    -One can purchase Bitcoin or other cryptocurrencies on BidGet using various methods like credit/debit card, peer-to-peer trading, Fiat OTC, and quick buy options.

  • What is the minimum trading size for OTC on BidGet?

    -The minimum trading size for OTC on BidGet is $100,000, but the platform can facilitate transactions for much larger sums.

  • What is a spot account in the context of cryptocurrency exchanges?

    -A spot account is where the purchased cryptocurrencies are deposited and held on the exchange, allowing users to trade or transfer funds between different types of accounts on the platform.

  • How can users convert USDT or other stablecoins to other cryptocurrencies on BidGet?

    -Users can convert stablecoins like USDT to other cryptocurrencies by selecting the 'convert' option, choosing the amount, and confirming the transaction within the given time frame due to market volatility.

  • What additional services does BidGet offer besides trading?

    -BidGet offers additional services such as staking, participating in launch pools, and other features that can be explored and utilized by users.

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Transcripts

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Связанные теги
Crypto BuyingBitcoin InvestmentCoinGeckoExchange PlatformsBidGet SponsorSolana CoinTrading TipsFiat CurrencyKYC ComplianceCryptocurrency Guide
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