So you are looking to invest in Cryptocurrency? First things first, you will need your bank account logged into and ready as you need to register on Cryptocurrency exchange websites in order to buy, you cant go to the local bank and buy any.
There a multitude of websites to get you started and there are even more Cryptocurrencies to invest in but we have to start somewhere so I will be explaining how to buy Ethereum from Kraken.
Make your way to Kraken which is where you will buy the Ethereum from.
Register an account with Kraken
Register an account with kraken
Verify the email that was sent to you, if you don’t do this then you cant use the account effectively.
Click on the Funding tab, then the currency you wish to deposit (GBP in this case), this should being you to the correct screen, if not, click on deposit then GBP.
Deposit GBP with kraken
Choose the option of deposit that is cheapest for you. This will depend on your Bank and their fees for each type of deposit.
Scroll down and follow the instructions given to deposit money to your account.
Once you have the money in your account, click the Charts button at the top right to get a feel for the price of ETH at the moment. The charts will show when the last buy order was, how much it was for and how much ETH was bought was bought. Using the order book located at the bottom of the page, you can see all the people wanting to buy ETH and for how much. This allows us to undercut people and buy ETH before them.
Ethereum buy and sell
Now that we have a price for ETH, we can make out first order. Click the Trade tab on the left, then new order. Fill out how much ETH you wish to buy and at what price per ETH. If the Total GBP doesn’t exceed how much is in the account, click the BUY button and an order will be opened below. Once someone sells ETH to you, you’re done!
Congratulations, you have just made your first step into the Cryptocurrency World.
Read our “How to sell and deposit your Cryptocurrency” guide.