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

Summary

This 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.

Outlines

00:00

🚀 Getting Started with Cryptocurrency Investments

This paragraph introduces the viewer to the world of cryptocurrency investment, highlighting the vast opportunities available. The speaker, Fafa, expresses a mission to explore and share profitable crypto ventures, encouraging viewers to subscribe for valuable insights. The focus then shifts to guiding beginners on how to purchase their first cryptocurrency, emphasizing the need to identify a trustworthy platform for trading. Coingecko.com is recommended for its user-friendly interface and comprehensive listing of tokens. The process includes searching for a desired coin, understanding market data, and selecting an exchange that supports fiat currency transactions. Bitget, the sponsor of the video, is introduced as a reputable exchange with a wide range of cryptocurrencies and a high trust score, making it an ideal choice for first-time crypto buyers.

05:02

🛍️ Exploring Different Methods to Purchase Cryptocurrency

The second paragraph delves into the various methods available for purchasing cryptocurrency on Bitget. It explains the process of buying crypto using credit or debit cards, highlighting the convenience and straightforward nature of this option. The video also introduces peer-to-peer trading, which offers zero fees and allows users to interact directly with sellers worldwide. The platform's OTC (Over-The-Counter) service is discussed for those looking to invest larger sums, with a minimum trading size of $100,000 but scalable to much higher amounts. Quick buy options are also covered, which enable users to purchase coins through third-party payment methods after verifying necessary details. The paragraph concludes with an explanation of the spot account, where all purchased coins are deposited, and the process of converting one cryptocurrency to another using the platform's conversion feature.

10:02

📚 Conclusion and Next Steps for Cryptocurrency Investors

In the final paragraph, the speaker wraps up the video by encouraging viewers to like, subscribe, and engage with the content for more information on cryptocurrency investment. The speaker expresses appreciation for the viewers' time and offers to answer questions, monitor the chat, and provide further assistance on social media platforms like X. The focus is on ensuring that viewers have a clear understanding of how to buy and manage their first cryptocurrency, and the speaker promises to cover additional topics such as staking and participating in launch pools in future videos.

Keywords

💡USDT

USDT stands for Tether, which is a type of stablecoin pegged to the value of the US dollar. In the video, USDT is used as an example of a cryptocurrency that can be purchased with fiat currency like dollars or pounds. It serves as a stable asset in the volatile crypto market and is often used for trading or as a medium of exchange.

💡CoinGecko

CoinGecko is a popular cryptocurrency market data platform that provides information on various tokens and cryptocurrencies. In the video, it is recommended as a starting point for users to research and find the coins they wish to purchase. It lists all the tokens available and provides a user-friendly interface for searching and analyzing different cryptocurrencies.

💡Solana

Solana is a blockchain platform that supports decentralized applications and cryptocurrencies. In the script, it is used as an example of a cryptocurrency that a user might want to buy. The video demonstrates how to find and purchase Solana on a cryptocurrency exchange, highlighting its availability on platforms like Bitget.

💡Bitget

Bitget is a cryptocurrency exchange mentioned in the video as a sponsor and a platform where users can buy, sell, and trade various cryptocurrencies. The video emphasizes Bitget's large trading volume, wide range of listed currencies, and its user-friendly features, making it a recommended platform for purchasing cryptocurrencies.

💡Fiat currencies

Fiat currencies refer to government-issued money that is not backed by a physical commodity, such as the US dollar or the Euro. In the context of the video, fiat currencies are used to purchase cryptocurrencies on exchanges, highlighting the importance of exchanges that support fiat-to-crypto transactions.

💡KYC

KYC stands for 'Know Your Customer,' a regulatory process that requires exchanges to verify the identity of their users. The video mentions that to purchase cryptocurrencies with fiat money, users need to go through KYC verification on exchanges like Bitget, which is a standard practice to prevent fraud and comply with financial regulations.

💡Spot account

A spot account is a type of trading account on cryptocurrency exchanges where users can buy and sell cryptocurrencies at the current market price. In the video, it is explained that once users purchase cryptocurrencies, the assets are deposited into their spot account, which is the default account for holding and trading cryptocurrencies.

💡P2P trading

P2P, or peer-to-peer trading, is a method of trading cryptocurrencies where users interact directly with each other, facilitated by an exchange platform. The video discusses P2P trading on Bitget, where users can buy and sell cryptocurrencies without additional fees, making it an attractive option for some traders.

💡OTC trading

OTC, or over-the-counter trading, refers to transactions that are not conducted on a centralized exchange. In the video, OTC trading is mentioned as a way for users to buy large amounts of cryptocurrencies directly from sellers, often with higher minimum trading sizes and tailored to more experienced investors.

💡Conversion

Conversion in the context of the video refers to the process of exchanging one cryptocurrency for another. The script explains how users can convert stablecoins like USDT into other cryptocurrencies, such as Solana, through a simple interface on the exchange platform, facilitating easy management of their crypto assets.

💡Crypto Alpha

Crypto Alpha refers to valuable information or insights that can provide an advantage in the cryptocurrency market. The video promises to bring viewers the best crypto Alpha in the industry, suggesting that following the channel could help users make informed decisions and potentially profit from their crypto investments.

Highlights

Introduction to buying USDT and the process of swapping crypto currencies.

Mission to find and share ways to make money in crypto, presented by Fafa.

Recommendation to use CoinGecko for researching crypto tokens due to its user interface.

Explanation of how to search for a specific coin on CoinGecko and understand the listed information.

Highlighting the importance of choosing an exchange that supports fiat currency for first-time crypto buyers.

Introduction of Bitget as a preferred exchange platform with high trading volume and a wide range of listed cryptocurrencies.

Description of Bitget's features, including early access to new coins and a pre-market.

Guide on how to buy the first Bitcoin or crypto using Bitget, including selecting the right currency and amount.

Advantages of peer-to-peer trading on Bitget with zero fees and the process of finding a suitable trade.

Details on Fiat OTC trading for larger investments and the process of contacting Bitget for such transactions.

Quick buy option on Bitget and how to use third-party payment methods like Apple Pay for crypto purchases.

Explanation of different types of accounts on Bitget, such as spot, margin, futures, and earn accounts.

Process of transferring funds between accounts on Bitget to utilize the money for intended purposes.

How to convert deposited USDT to another cryptocurrency like Solana on Bitget.

Instructions on finding and managing purchased cryptocurrencies in the spot wallet on Bitget.

Additional features of Bitget, such as staking and participating in launch pools, offered to users.

Invitation for viewers to ask questions and engage with the presenter on social media platforms.

Closing remarks and encouragement for viewers to like, subscribe, and engage with the content.

Transcripts

you click on buy usdt but I get like $12

a DOT thank you BG paid notify the other

party I confirm I confirm and it will

execute the swap now you decided that

you want to buy your first Bitcoin or

you just want to invest in crypto but

you don't really know how well in this

video I'm going to give you everything

you need to know to buy your first

Bitcoin or your first crypto there is a

billion ways to make money in crypto and

I am on a mission to find them all my

name is Fafa and the best parties if I

find anything I share it with you soon

if I make money you can make money too

if that sounds good subscribe to the

channel we bring you the best crypto

Alpha in the industry and if you like

this video I appreciate if you smash

that like button so the first thing you

have to do is you have to figure out

where you can buy the coin that you

actually want to buy now to do that you

need to go onto a platform called

coingecko.com now coin.com lists all the

tokens that you can find um out there

who are a little bit more serious than

just the token that launched there is

coin market cap as well depending on

what you like I personally use coin

geeko because I think it has the best

user interface and it just yeah it's

just great to use so if you go and land

on coin GCO then you will be able to go

up to the top right corner and search

for a coin I'm actually going to pick

Solana because all Bitcoin is obvious

but you can search for any coin that you

want to buy and you will see it listed

up here you can click on that and don't

get scared I know it has charts and

whatever and numbers and fully D market

cap and all that don't worry about all

those if you want to learn what these

are I have a bunch of videos on the

channel check it out how to do due

diligence how not to get scammed how to

analyze a project it's all in there but

for now what I I want you to do is to

click on the market button up here or

Market button up here next to overview

and it will show you all the exchanges

that this token is listed at it's very

important when you're buying a first

crypto you will buy it with most

probably your Fiat currencies a dollar

or euros and that means that you will

either have to do a bank transfer have

to buy it with a credit card and you

need an exchange that can accommodate

that so as you see that here salana is

also available on bit obviously we're

talking about the Bitcoins not Bitcoin

bigcoin so that coin is available in

most of the centralized exchanges in

this example I am going to use bidget

bidget is the sponsor of today's video

they are a fantastic exchang that we

love and use they 17 or rather $18

billion trading volume in the 24hour 800

plus cryptocurrency they actually list a

lot of currencies the reason why one of

the reasons why I like bitg is because

they leas the the early memes and they

leas the very big coins they have a

pre-market as well I'm going to Deep

dive into that in another video but

anyway they have over 25 million

registered users 160,000 Elite users so

it's a proper platform that you can use

to purchase your first crypto what is

also cool if you go back to coin Geto

you can click on a bitg you will be able

to see the trading volume the number of

coins the trust score which is 9 out of

10 pretty cool as well it's like

basically how coin gecko determines the

platform based on different volume if

it's fake fake volume or not 9 out of 10

is fantastic and you will be able to see

all the tokens listed on bidget but let

me show you how to buy your first

Bitcoin so you will land on this page

and what you want to do you want to go

up on the top and say buy crypto now you

will have several options I'm going to

guide you through all of them number one

is credit and debit card now we talked

about this this is self-explanatory

basically you can purchase different

crypto with your bank card the best part

is if you can click on the currencies

here you will see all the available

currencies bunch of bunch of bunch of

currencies so for example let's say that

you want to purchase with pounds you can

select pounds and then down here you can

select what you want to purchase so you

can purchase Bitcoin ethereum you can

purchase their own token bidg get's own

token and many many more so personally I

like to purchase usdt because then I can

just track and I can keep track of what

happened and then I convert but if you

want you can immediately purchase BTC as

well you can just add the amount that

you want to buy for let's say $100 it

will tell you how much it will uh how

much Bitcoins you will receive from this

you can also calculate the free

structure and you can go on buy Bitcoin

you can add your bank card have to fill

in the details and basically once you

approve you just click on a buy and it

will deposit it in your spot account

which I'm going to explain very very

soon the second option is again buy

crypto is peer-to-peer trading now this

is very interesting this is 0% fees so

bidg itself doesn't take any doesn't

charge you anything to do this these are

actual people on any side of the world

that facilitate these transactions so

for example I can select usdt here and

select USD or any other currencies that

I have uh down here and when I see the

list I will be able to pick the green

one sometimes it's grayed out because

obviously these uh these people don't

want to deal with complete nbes who

didn't do anything on the website so

this is why it's worth taking a couple

of Trades as well but you have the

option of actually doing it so when it's

green you can click on buy you will be

able to read all the descriptions here

like what the compan is how does it

really work you will need kyc or you

don't need kyc do they have identity

verified so did they do kyc on the

platform they have their email they have

their phone number connected to this

account so it's not some random people

then you can put in the amount that you

want to buy for for example it says that

is between $10 and $25 there are

Merchants that allow you to do much more

you have to look through and then it

will be through this platform you click

on buy usdt it will tell you that you

need to register for this external

platform it will give you all the

details here you can actually

communicate with the person who you are

buying the Bitcoins from and you can

transfer the money through zle to this

guy here based on the email address or

Girl based on the email address and once

that's done you can click on paid notify

the other party and then will will he

will deposit it to your account the next

option is Fiat OTC so what you can do is

that you can buy a larger chunk of money

now if you scroll down here this is OTC

meaning over the counter it doesn't go

through the same channels that for

example your bank card purchases go

through this is more like a premium for

people who want to invest larger sums if

you scroll down and frequently asked

questions you will see that the minimum

trading size is

$100,000 but the way it works is that

you can contact bidget you will F your

your email how much you want to buy it's

actually all the way up to hundreds of

millions if uh in case that's what

you're into and they will help you

facilitate the transaction this is

actually a very good thing to do in my

opinion if you want to put a bigger

amount of money into crypto then the

next option is quick buy once you click

on there you will see that it's very

similar then to the third party what you

can do is that you can write in again

what amount and what currency you want

let's say I want $100 what do I want to

receive and then I can pick the third

party where I'm willing to to purchase

my my coins through so for example I can

say I want to pay with Apple pay and

then it will give me what third parties

I'm able to use for example I can use

alchemy pay when I click on that I just

have to approve the terms and conditions

I click on next it will take me to the

third party website I'll have to fill in

uh whatever it requests me to do whether

I have to verify my ID or do any kyc

verification depending on the amount as

well and you are able to purchase your

coins through there now once you picked

any of these methods the coins will be

deposited onto your spot account so if

you click on the top right here you see

this little wallet icon you keep all

your money on an exchange in your

exchange wallet so when you click on

there you will land on this page now

whether you use bidget or any other

exchange this is most of the time very

very similar you will have different

accounts on the left here you will see

you have a spot account you have a

margin account you have a Futures

account you have a bot account you have

an earn account and you have to transfer

funds between these accounts to be able

to use the money for what you want to

use so for example if you want to start

Futures Trading you will need to

transfer your money from the spot

account to the Futures account and I

know I'm running ahead we can cover this

in the next video but what I want you to

know that it will be deposited onto your

spot account so you will have to look

for it a lot of times I got a DM saying

hey I bought my Bitcoin whatever I

deposited onto an exchange I don't see

it where it is it's under your spot

account if you're using bidget and if

you're not it's most likely around

either spot or funding account and once

you have that you scroll down here and

you will see what coins you hold bit for

some reason is giving me a lot of these

coins I I don't know if it's air drops

or whatever this is just using the

platform but it's pretty cool actually

that I'm getting these I know it's lower

amounts but I get like $4 of their

tokens $1 of Caspa $12 of dots so I

don't know why these are showing up but

it's pretty cool thank you bigat other

than that what you can really do is that

if you deposited Bitcoin the coin that

you actually wanted to buy you will see

it here you can do a lot of stuff with

it you can stake it you can participate

in the in in the launch pool and much

more again you can do a bunch of other

stuff if you want this you can let me

know in the comment section and I can

cover it in in another video uh but what

you want to do if you have deposited

usdt you will need to convert your coins

and the way to do that the fastest way

is to just click on these three dots

here and you click on convert it will

take you to a converting interface where

you can select what you want to convert

from for example usdt and you can select

the coins that you want let's say stick

with the example of Solana let's say I

want to buy it for $10 I can click on

$10 it will ask me to preview it will

give me a quote it has I I have 8

seconds to approve this price this is

because of the volatility I confirm I

confirm and it will execute the swap

again if I go back to my spot wallet I

click on the wallet icon up here click

on my spot wallet and the salana will

show up down here in my spot wallet and

this is basically it you have bought

your first Bitcoin or your first Solana

which I'm very happy about again you see

how well bitg works you do need if you

want to purchase coins with your Fiat

money meaning USD or or or or Euros you

will need an ex change that requires kyc

which is no your custumer because of

these kyc and regulations you can't

purchase crypto with fiat currency your

bank card and whatever on any exchanges

we do recommend bidg we work with Bigg a

long time you see how easy it is to do

there is a link in the description check

them out and let me know what you think

and also let me know if you have any

questions I am monitoring the chat for

the next 24 48 hours and beyond that as

well and another way to reach me is to

follow me on X there is a link in the

description to my X account as well

you'll see it here it's Fe the many I'll

reply to all the questions so if you get

stuck with this I'm very happy to help

there as well guys thank you so much for

watching I truly appreciate you let me

know what you thought smash the like

button subscribe to the channel and I

believe I will see you in the next one

take care