1. Choose a reliable exchange
Most people buy crypto on an exchange. Prefer one that is licensed or registered in your country, has a long track record and publishes proof of its reserves. Very high bonus offers and unknown apps promoted on social media are a warning sign.
2. Open and verify your account
Regulated exchanges ask for identity verification (KYC). It takes a few minutes and is a sign that the platform follows the rules. Use a strong, unique password.
3. Turn on two-factor authentication
Enable 2FA with an authenticator app rather than SMS, and set up a withdrawal address whitelist if the exchange offers one. These two settings stop most account takeovers.
4. Deposit money and place your first order
Deposit funds by bank transfer or card, then buy. A market order buys immediately at the current price; a limit order buys only at the price you choose. Check the fees before you confirm. To avoid buying everything at a bad moment, many beginners invest the same amount at regular intervals; our DCA calculator shows how this would have worked out.
5. Decide where to keep your coins
Coins left on an exchange are only as safe as the exchange itself. For larger amounts, consider moving them to your own wallet; our crypto wallet guide explains the options.
Common scams to avoid
- Nobody genuine will ever ask for your password, 2FA code or seed phrase.
- Promises of guaranteed or doubled returns are always a scam.
- Check the web address carefully; fake exchange sites copy the real design.
- Be wary of leverage: futures can wipe out your deposit, see liquidation calculator.