We are getting more and more requests for entry-level tutorials that you can find useful as beginner users, or to provide it to your future referrals, but also if you are just considering buying your first crypto, unsure how easy or difficult it is. But as you may presume, we made it as easy as possible.If you’d like to review that process, let’s get into it in more detail:
1st step – Verification
To deposit EUR or CZK funds, it is necessary to verify your Coinmate account. Since we are dealing with these currencies, our AML laws direct us to verify our users. But rest assured that your data are as safe as your money with us. After registering on Coinmate, just proceed to account settings – Verification menu.
2nd step – Depositing funds
Now, it is necessary to send some funds to Coinmate, so you’d be able to exchange them for crypto. To do so, please navigate to Funds – Deposit menu and select your desired currency to send to Coinmate. Please read the instructions carefully so the transfer can be processed as fast as possible.
3rd step – Buying crypto
First, please select your desired trading pair in the upper right corner of the screen. Let’s say you have EUR deposited on Coinmate and want to buy Bitcoin, so you need to select BTC/EUR trading pair. Now you EUR and BTC balancer are visible in the header.
There are two options to actually buy crypto. One way is using the Trade function, which can be precisely defined in terms of the exchange rate and other variables. (We cover that in-depth in another tutorial.) And then there is a second option called Quick Buy.
Since Trade function can take longer to process, you can use Quick Buy to get your crypto fast. This function trades as many orders from the market as necessary to fulfill your order. Because of such behavior, it is more suitable for small fast trades. It usually less favorable in terms of exchange rate the more the amount exchanged gets higher.
4th step – Storing your crypto
You can send it to your mobile wallet app, store it on some secure device like Trezor, or simply keep it on Coinmate. But mainly, congratulations! You just got yourself your first cryptocurrency!