How to buy your first bitcoins with USD through bank transfer

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Well, let's get started. The first thing you need to get into the awesome world of bitcoin payments, is a bitcoin wallet. There are generally two types of wallets. Online wallet and desktop wallets. An online bitcoin wallet is a wallet hosted in the cloud.

You access the wallet through a website, from any computer, where you can deposit and withdraw funds from your bitcoin wallet. The advantage is that you do not need to install any software on your computer or download the entire blockchain, which is currently more than 30 gigabyte. You can also access your wallet from any computer in the world. The disadvantage is that you are dependent on a third party service to store your bitcoins, which can be unstable, offline or even shut down.

One of the online wallets that has been around a while and has proven to be stable is blockchain. After you verified your email, you can login to your very own online bitcoin wallet. You will then find and overview of your account, transactions and current balance.

You will also find your bitcoin wallet address. This is also known how to send money to your bitcoin wallet your public address. This is the equivalent of your bank account information, which you can share with others so they can send you bitcoins.

This is also the address you will use to deposit the bitcoins to your wallet, once you have bought them, which we will show you how to do, later in this guide.

If you prefer to keep your bitcoins on your own computer, a desktop wallet is the wallet for you. A desktop wallet downloads and stores the entire blockchain. That means the wallet will have the entire ledger with every bitcoin transaction ever made. The size of the bitcoin blockchain is 30 gigabyte and growing, so keep that in mind, before going with a desktop wallet solution.

The blockchain will take some time, maybe days to download, how to send money to your bitcoin wallet you will not be able to deposit and withdraw bitcoins from the wallet until the whole blockchain has been downloaded.

Also, everytime you start the wallet it needs to download all the latest transactions in the blockchain. You also need to make sure the wallet is backed up. Otherwise you will loose all your coins if your hard drive fails. To get the desktop wallet for your bitcoins, go to bitcoin. Once you have installed the software, open the wallet and select the "Receive coins"-tab. This shows the public bitcoin address for your wallet, how to send money to your bitcoin wallet you can use to receive bitcoins on your wallet.

Okay, now you have your bitcoin wallet set up and ready to buy your first bitcoins and deposit them to your wallet. Enter your public bitcoin address as mentioned previously in this guide. If you prefer to receive an email confirmation of your exchange from USD to bitcoins you can enter your email address. You will then be sent to the final step of how to send money to your bitcoin wallet easy two-step proces.

Transfer the amount of USD you want to exchange to bitcoins through bank transfer to the bank account presented to you. Remember to add the transfer message exactly as shown. The bank transfer can take up to business days to reach the bank account. Once it is received, your exchange will be processed and the bitcoins will be transferred to your bitcoin wallet. Due to the awesome world of bitcoin, the bitcoins will be transferred to your wallet instantly and after confirmations, depending on your choice of wallet, you will be able to spend your bitcoins to buy goods online.

After you have bought your first bitcoins with USD, you will be able to use the bitcoins for online payments on the websites that accept bitcoin payments. This is a list of some large company already accepting bitcoins as a payment method. And many more coming every day. Welcome to the awesome world of bitcoin.

You now have your first bitcoins. Now go have fun using them! How to buy your first bitcoins with USD through bank transfer. This guide will show you: Supported coins Bitcoin Litecoin Dogecoin. DK Contact info Support: Never miss a thing Get fresh crypto coin news, how to send money to your bitcoin wallet and service updates before others.

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Depositing money into your Luno wallet is easy. Open the Luno website or mobile app. Follow the steps on screen. The deposit screen will let you choose between the available deposit methods and guide you through the process.

Deposit allocation times depend on your country and on which day of the week the deposit was made. All deposits are allocated as soon as Luno receives them, but in some countries it may take longer for the money to reflect.

You can review our deposit schedule for more details. How long until my deposit shows in my Luno wallet? Why is my deposit not reflecting? What do I do now? Making a GT Collections deposit in Nigeria. Contact us for more help. Buy, store and learn about Bitcoin and Ethereum now. We are using cookies to provide statistics that help us give you the best experience of our site.

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BitX is now Luno. Price charts Bitcoin Price Ethereum Price. Home Buy or sell digital currency Using digital currency Security The basics Identity verification Deposits and withdrawals Deposit money into my Luno wallet How long until my deposit shows in my Luno wallet? How do I add money to my Luno wallet? Depositing money into your Luno wallet Depositing money into your Luno wallet is easy.

The deposit screen will let you choose between the available deposit methods and guide you through the process Congratulations! How long does the process take? Related articles How long until my deposit shows in my Luno wallet? Was this article helpful?