Hey there! In this article, you’ll learn how to buy Bitcoin on Crypto.com.
As you might have guessed, Crypto.com is a popular platform offering services for people interested in digital assets and cryptocurrencies.
These services include an exchange, wallet options, staking, and more.
So, if you’re looking for easy-to-understand steps to buy bitcoin on crypto.com, then make sure you stick around to the end.
Let’s get into it!
Where do I get started on Crypto.com?
If you are new to crypto.com, you’ll need to create an account on the platform.
First, head over to their website at www.crypto.com.
Press the “Download Now” button on the home page, which will take you to your device’s app store.
Go ahead and install the app on your device.
After successfully downloading and installing the app, open it.
Press the “Create New Account” button on the app's home screen.
If you already have an account, you can skip this process and simply log in by pressing the “Log in to existing account” button.
When you push the “Create New Account” button, the app will take you to a page where you can input your email address.
Then, push on the “Create New Account” button.
Crypto.com will send you a confirmation email, so you will need to check your email for the link.
In the verification email, you will see a “LOG IN” button, so go ahead and press it.
Next up, you need to put in your phone number.
Make sure you use a valid number because crypto.com will send a verification code there.
Enter the verification code you receive to continue.
Alright - now, you need to get some security in place.
Set a passcode on the screen that follows.
Once you have set a passcode, the next step is… to confirm who you are!
Let’s Dive Deeper into Account Verification on crypto.com
Like most other exchanges out there, Crypto.com requires you to verify your identity before you can complete setting up your account.
First, you need to select your country and upload a valid means of identification.
The type of ID you can use depends on where you are in the world, but it’s typically a passport, driver's license, or identity card.
Once you complete this step, you’ll need to wait for crypto.com to verify your ID.
After receiving the notification that your ID check has been completed, it’s time to link some funds to your account!
So, how do you add Payment Methods to Crypto.com?
Before buying Bitcoin on crypto.com, you’ll need to link a payment method to your account.
On the home screen, you will see an “Add Funding Source” button. Press it to continue.
There are three options to choose from - Credit or Debit Card, EUR Wallet, or Deposit Crypto.
Choose anyone that works best for you, but for simplicity, I’ll be using a credit card.
It stands out as the most popular payment method because it’s the easiest to set up.
To add a card, press the Credit/Debit Card option in the “Add Payment Method” screen.
Next up, you will need to input the card details before pushing the “Add Card” button.
Alright, now that you’ve jumped through all of those hurdles - let’s get to the fun part!...
Moving on, let’s look at how to Buy some Bitcoin
So once you have set up your account successfully, you can actually buy some Bitcoin.
On the app’s home screen, press on the “Trade” icon.
A pop-up showing the numerous cryptocurrencies you can buy on crypto.com appears.
Search for Bitcoin and press it.
At this stage, you should enter the quantity of Bitcoin you want to buy.
When you do this, the platform will calculate how much you need to pay.
Select the payment method you already set up and Input your password to confirm the transaction.
And with that… Congratulations!
You just made your first Bitcoin purchase on crypto.com!
Now, it doesn’t necessarily have to end here.
Honestly speaking, even though you purchased the Bitcoin, it’s the Crypto.com platform that is holding it for you.
If you want more direct control over your assets, you’ll need to put your Bitcoin in something called a crypto wallet.
Now, if you’re new to crypto, you might be wondering what a crypto wallet actually is, so…
Here’s how Crypto Wallets work…
Just like your regular wallet where you keep your cash, a crypto wallet helps hold cryptocurrencies - such as the Bitcoin you just purchased.
Rather than storing actual money, though, crypto wallets hold the private keys that prove you own a particular asset.
Now, there are two main options when choosing a wallet - either a hot wallet or… you guessed it… a cold wallet.
Let’s take a look at hot wallets first.
This is the type of wallet that is built into platforms like crypto.com.
These online wallets allow near-instant, easy access to your digital funds.
Basically, they are designed to increase the accessibility of a user’s assets.
You could use a hot wallet for day-to-day transactions, trading on cryptocurrency exchanges, and quick withdrawal of your tokens.
This convenience comes at a cost, though, because by being online - there’s always a potential risk of hacking or security issues somewhere down the line.
Therefore, security, regulatory compliance, and privacy should be top priority when selecting a hot wallet provider.
On the other end of the spectrum, there are cold wallets.
Cold wallets are like offline storage vaults - connecting to the internet only when receiving or sending funds.
Being offline in this way, cold wallets greatly reduce the risk of exposure to potential online threats.
Many of them use hardware solutions to help secure your crypto keys, adding a further layer of security.
The extra security does come at the cost of convenience, however, requiring more steps to initiate and complete transactions.
As such, you could use this type of wallet to lock up assets that maybe don’t need to be transferred so regularly.
That’s not to say they only have one use, though.
Many veteran crypto traders solely use cold wallets for all their transactions.
It all comes down to how much risk you’re willing to tolerate.
Conclusion
Well, that’s all there is to buying Bitcoin using crypto.com!
In this article, I showed you how to set up an account on Crypto.com.
I walked you through the process of buying Bitcoin, all the way from initial account setup to adding payment methods and finally making a purchase.
You even discovered some details on safeguarding your digital assets and unlocking the benefits of both hot and cold crypto wallets.
Remember, staying safe in crypto is about learning how to make a balanced choice between convenience and security.
There are always options out there; you just have to figure out where to look!
Anyway, that’s it for this article. I hope you liked it.
