How to Buy Crypto
#1
Things to Know:
• Most centralized exchanges will require a profile account, proof of identity and bank account/card to purchase crypto.
• Select the crypto exchange that best fits your need.
Download a crypto exchange.
#2
Things to Know:
• You must connect your bank account with the exchange.
• Some exchanges can take up to 15 days to transfer.
Transfer money into crypto exchange.
#3
Things to Know:
• When choosing, consider utility, gas fees, risk and more.
• Ranking of top cryptocurrencies by market cap below.
Select cryptocurrency to purchase.
#4
Things to Know:
• Most exchanges will charge a transaction fee.
• If you convert crypto back to fiat, there will be a fee.
Purchase crypto with fiat money.
December 15, 2021
solsea, magic eden, OPENSea, rarible, solanart, NBA Topshot
#1
Purchase crypto.
Things to Know:
• Most common NFT marketplaces use the Ethereum or Solana blockchain.
• Gas fees can vary dependent on many variables.
• If you do not know how to purchase crypto, refer below.
#2
Select and download crypto wallet.
Things to Know:
• Wallets can be be apps, browser extensions or hardware.
• Wallets must be compatible with NFT marketplace.
• Write down private key (password).
#3
Transfer crypto from exchange into wallet.
Things to Know:
• Address receiving crypto must be compatible with the crypto being sent or you will lose it.
• Every transaction has a withdrawal fee (exchange fee), a network fee (blockchain/miner fee) and a transaction time.
• Do a test with a small amount before sending full amount.
#4
Select NFT marketplace.
Things to Know:
• Marketplaces offer different products such as video games, art, sports moments, music, 3D images and more.
• NFT marketplaces use the Ethereum or Solana blockchain.
#5
Connect crypto wallet with NFT marketplace.
Things to Know:
• Marketplaces have specific wallets they connect with.
• Connect wallet via browser extension or app.
• Usually you have to connect your wallet to make a profile.
#6
Purchase NFT.
Things to Know:
• Value is subjective and determined by factors such as rarity and the reputation of the artist who made it.
• Two ways to purchase NFTS are bid and buy now.
• Check gas fees prior to purchase.
december 15, 2021
#1
Purchase crypto.
Things to Know:
• To swap crypto, you use a decentralized exchange (DEX).
• Most DEX are built on the blockchains of Ethereum, Binance Smart Chain or Solana.
• If you do not know how to purchase crypto, refer below.
#3
Transfer crypto from exchange into wallet.
Things to Know:
• Wallet receiving crypto must be compatible with the DEX.
• Every transaction has a withdrawal fee (exchange fee), a network fee (blockchain/miner fee) and a transaction time.
• Do a test with a small amount before sending full amount.
#4
Connect Wallet to DEX.
Things to Know:
• Wallet receiving crypto must be compatible with the DEX.
#5
Swap purchased crypto with new crypto.
Things to Know:
• When swapping crypto on DEX, usually swap for tokens not listed on large exchanges.
• Gas fees can vary dependent on many variables.
• Increase slippage tolerance to increase likelihood of order transacting.
december 15, 2021