How to buy bitcoin and set up a wallet

These allow you to buy coins with euros, pounds, dollars, etc. This is today the most common way to buy online. To buy Bitcoin on exchanges, you need to follow different steps:. This means giving your e-mail address and setting a password. After this, the exchange will verify and your identity and validate your account. Buy bitcoin — you can now start buying bitcoin on the exchange via credit card or wire transfer. When buying on exchanges, fees will apply. These fees will depend on the exchanges you have chosen, your country of residence, your payment method….

You can buy Bitcoin directly through the platform Ledger Live with our partner Coinify. For that you will need to have a Ledger hardware wallet and to have created a Bitcoin account on Ledger Live.

When using the Buy feature, the crypto you bought is automatically sent by Coinify to the address created by your Ledger wallet. This makes sure your freshly bought crypto is kept secure and in your control from the moment you finished the purchase. Learn more about Ledger Live. When buying Bitcoin, two things really matter: the security and the ownership of your coins.

What counts is the key that gives access to your Bitcoin — your private key. The person that has access to this key really owns the associated Bitcoin and can do whatever they want with it. This person must be you. This means 2 thinks:. This is why they can set certain limits to your activity such as a minimum or maximum withdrawal limit. While you can make sure that your account is secured by using 2FA for instance, you have no control over how secure the platform is.

Cryptocurrency exchanges are an ideal target for hackers because of the huge amount of crypto they can steal, and they have been successful in the past. You need to take back control of your Bitcoin to correctly protect and control them: owning your private keys gives you absolute freedom over your own crypto. Ledger created a solution that enables you to secure and own this key. Our hardware wallet, combined with our application Ledger Live is the best way to secure your funds while giving you the freedom to manage everything on your own.

Your private key always remains offline in the hardware wallet: nobody can access it or use it except you. With Ledger, buy, sell, manage, exchange crypto and earn interest. All in one single place.

How to buy Bitcoin?

Without ever compromising the security of your coins. Your newly brought crypto are immediately sent to the safety of your hardware wallet. In Ledger Live. PayPal is a popular method for buying bitcoin. While you can not purchase bitcoin directly from PayPal, you can use PayPal in conjunction with a trading platform such as Ledger Live or a peer-to-peer marketplace such as Kraken to buy bitcoin outright. Because Bitcoin is on the internet, they are even easier to steal and much harder to return and trace.

Choose your Bitcoin wallet

Bitcoin itself is secure, but bitcoin are only as secure as the wallet storing them. Like in any other investment, securing your bitcoin must be a priority. Your Bitcoin are as secure as the wallet storing them.

Ledger hardware wallets combined with Ledger live have been designed to help you buy and secure your Bitcoin and other cryptocurrencies. Discover Ledger Nano S. You can buy Bitcoin directly through Ledger Live with our partner Coinify. Once payment is processed, your bitcoin are directly sent by Coinify to the security of your hardware wallet. You can check how it works here. You can buy bitcoin instantly by credit card or bank transfer using exchanges or Ledger Live. Each bitcoin can be split into ,, pieces meaning you can buy 0, BTC if you want. Cash deposit is a fast and private way to buy bitcoin.

You can usually receive your bitcoins within a couple hours. How to buy Bitcoin? Quick access: Bitcoin History Why Bitcoin? How to get Bitcoin? Secure Bitcoin. What is Bitcoin BTC? Is Bitcoin BTC a good investment? True Ownership Bitcoin allows you to truly own your funds. Borderless Bitcoin is a truly borderless network. Open and Inclusive Bitcoin has been created by individuals rather than governments — and is maintained by an incredibly large collective, all coming together as one to give their network its stability and power.

Fast A Bitcoin transaction would take only around 10 minutes, and some other crypto assets can even do this in a few seconds. Compare some other options in the table below.

Getting started - Bitcoin

Created in by an unknown person or persons using the alias Satoshi Nakamoto, Bitcoin is a form of decentralised electronic cash designed to provide a viable alternative to traditional fiat currency. Rather than having to deal with a centralised authority such as a bank to process transactions, Bitcoin holders can transfer their coins directly to one another on a peer-to-peer network. All Bitcoin transactions are tracked on a public ledger known as the blockchain , and people working as miners verify transactions and update the blockchain.

Read our guide to some of the best Bitcoin wallets for more.

Cryptopedia

The next step is to decide how and where you will buy Bitcoin. There are hundreds of platforms to choose from, and they can be separated into three main categories:. Brokers offer the quickest and easiest way to buy Bitcoin, allowing you to pay for your digital coins using fiat currency like IDR or USD. Brokers offer user-friendly platforms and allow you to buy Bitcoin using familiar payment methods like a credit card or a bank transfer.

Their main downside is that they often charge higher fees than other options.

Inform yourself

Luno and Indodax are two well-known cryptocurrency brokers. These platforms, such as Binance and Huobi , allow you to buy Bitcoin using other cryptocurrencies. They tend to offer lower fees than brokers and provide access to a more diverse range of coins. Peer-to-peer exchanges cut out the middleman and allow users to trade directly with one another. The seller has the freedom to specify the price they want and their accepted payment methods, and this method allows you to trade with increased privacy.

However, you may have to settle for a price higher than the market exchange rate. Examples of peer-to-peer exchanges include LocalBitcoins and Paxful. Start comparing exchanges. The final step is to submit an order through your chosen platform. For most first-timers, the easiest and most convenient option is to use a Bitcoin broker. Depending on the exchange you use and the regulatory requirements it is subject to, you may be able to sign up simply by providing your email address or you may need to provide your full name, contact information and proof of ID before being allowed to trade.

Want to turn your cash into cryptocurrency?

There are several ways to buy Bitcoin with cash in Indonesia, including the following:. Buying Bitcoin with cash is quick and convenient but is usually more expensive than other options. Get a complete list of exchanges that let you buy crypto with cash. Many Bitcoin brokers and exchanges allow you to buy Bitcoin using your credit card. These include platforms like CEX.

IO and Coinmama , and using your credit card allows you to make quick and convenient purchases. However, credit card transactions tend to attract higher fees and some banks have even blocked customers from buying crypto with plastic. Debit cards are nowhere near as widely accepted as credit cards but can still be used to buy cryptocurrency on some platforms.

Got a PayPal account and want to use it to buy Bitcoin? The good news is that you can definitely do this; the bad news is that only a limited number of platforms accept PayPal. VirWox and Paxful are two of the better-known platforms that accept PayPal at the time of writing. Head to our full list of exchanges that support PayPal. Another way to buy Bitcoin with Indonesian rupiah is to choose a platform that accepts bank transfer deposits. The list of platforms that allow bank transfers is an extensive one and includes sites like Luno , Indodax and more. The key is finding the exchange that offers the right features and fees for you.

If you want to buy Bitcoin in Indonesia, most exchanges will require you to verify your identity first. However, if you value your privacy, it is still possible to buy Bitcoin anonymously. Check out our guide on how to buy Bitcoin anonymously.

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With hundreds of platforms to choose from, finding the best Bitcoin exchange for your needs is a challenging task. To make your choice easier, consider these key factors when comparing exchanges:. Learn more about how to choose an exchange in our cryptocurrency exchange guide. Choose a Bitcoin exchange. So, should you buy Bitcoin from an Indonesia-based exchange or from a foreign platform?