🕷️ Crawler Inspector

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Direct Parameter Lookup

Raw Queries and Responses

1. Shard Calculation

Query:

Response:

Calculated Shard: 148 (from laksa090)

2. Crawled Status Check

Query:

curl -X POST \
  'http://laksa148.int.ahrefs:8124/' \
  -H 'Content-Type: text/plain' \
  -H 'X-ClickHouse-Database: crawler3' \
  -H 'Authorization: Basic YXBpOg==' \
  -d 'SELECT getAhrefsURLFromUnparsed(src_unparsed) AS found_url, ifNull(toUnixTimestamp(download_stamp), 0) AS crawl_time, ifNull(toUnixTimestamp(props_url_first_seen), 0) AS first_indexed_time, download_http_code AS http_code, src_unparsed AS src_unparsed, src_root_hash AS src_root_hash, history_drop_reason AS history_drop_reason, meta_title AS meta_title, meta_descriptions AS meta_descriptions, attrs_boilerpipe_text AS attrs_boilerpipe_text, attrs_markdown AS attrs_markdown, attrs_readable_markdown AS attrs_readable_markdown, meta_canonical AS meta_canonical FROM crawler3.page_info_local FINAL PREWHERE (src_root_hash, src_unparsed) IN ((getAhrefsRootHashFromUnparsed(getAhrefsUnparsedNoserviceFromURL(\'https://www.bankrate.com/investing/how-to-buy-crypto/\')), getAhrefsUnparsedNoserviceFromURL(\'https://www.bankrate.com/investing/how-to-buy-crypto/\'))) FORMAT JSONEachRow'

Response:

{"found_url":"https:\/\/www.bankrate.com\/investing\/how-to-buy-crypto\/","crawl_time":1776008429,"first_indexed_time":1725629253,"http_code":200,"src_unparsed":"com,bankrate!www,\/investing\/how-to-buy-crypto\/ s443","src_root_hash":"16841441868536461148","history_drop_reason":null,"meta_title":"How To Buy Cryptocurrencies | Bankrate","meta_descriptions":["There’s no doubt that cryptocurrencies have gained in popularity. Here’s how to buy a cryptocurrency, whether you like Bitcoin or another coin.","There’s no doubt that cryptocurrencies have gained in popularity. Here’s how to buy a cryptocurrency, whether you like Bitcoin or another coin."],"attrs_boilerpipe_text":"The cryptocurrency market is known to experience extreme ups and downs, yet these digital assets have gained in popularity over the last few years. Thanks to their growing adoption, investors now have more options when it comes to buying\ncryptocurrencies\n.\nIf you’re interested in buying crypto, here’s what you need to know and how to go about it.\n4 steps to buy crypto\nBefore you think about buying crypto, you may want to revisit your overall financial situation and prioritize having an\nemergency fund\n, a manageable level of\ndebt\nand a\ndiversified portfolio\nof investments in place first.\nBecause\ncrypto\nis so volatile, any investments you make should be part of a broader investment strategy — not your only one — to offset any losses. Consider only investing what you can afford to lose.\nIf you’re ready to buy crypto, here are four steps to get you started.\n1. Pick where you want to buy crypto\nFirst things first, decide what platform you want to purchase the coins on. The most accessible option is a crypto exchange.\nCrypto exchanges\nhave the biggest selection of cryptocurrencies and tend to be the most competitive when it comes to offering lower prices. Some of the\nmost popular exchanges\ninclude\nCoinbase\n,\nKraken\nand\nBinance\n, but there are many more.\nPeer-to-peer payment apps\n, such as\nCash App\nor\nPayPal\n, also allow you to buy crypto. Fees for these transfers can vary based on the platform. If you buy Bitcoin through Cash App, for example, and spend $10 to $100, you may be charged a 2.25 percent fee.\nTraditional brokers\nare another way to buy crypto. With an\nonline broker\n, you’re able to buy cryptocurrency and potentially keep your other assets under the same roof.\n2. Create and fund an account\nOnce you’ve decided where to buy your coins, it’s time to open an account. For most online brokers and exchanges, you’ll need to provide basic personal information about yourself. You may be asked things like what your Social Security number is and your birth date to verify your identity.\nOnce you complete the profile, you’ll fund your account by attaching a payment method. You may use a credit or debit card or your bank account information.\n3. Decide what crypto to buy\nAfter funding your account, it’s time to decide what crypto to buy. There are tens of thousands of cryptocurrencies, though some platforms only offer specific coins, so take the time to research coins you’re interested in buying and the differences between them.\nThe two most popular cryptocurrencies are\nBitcoin\nand Ethereum. Bitcoin, the original cryptocurrency, has a market capitalization of nearly $1.15 trillion.\nEthereum\nis the second-most-popular coin, with a market cap of close to $296 billion, and is known for its\nsmart contract feature\n.\nCoins with a large market cap tend to be more stable compared to smaller, more speculative\nalt coins\nthat offer growth potential but higher volatility and less liquidity. Beginners may want to consider sticking with well-known, higher-liquidity coins. More experienced investors may want to explore newer crypto projects.\nRegardless of the coin type and your level of experience, remember that crypto is incredibly speculative and only invest money you’re willing to lose.\n4. Choose a crypto wallet\nYou’ll need a\ncrypto wallet\nto engage in any type of crypto transaction. Depending on what platform you use, some exchanges offer digital wallets where users can store the coins they purchase within the platform. Other platforms require an external wallet to store your coins offline.\nWallets within an exchange offer easy use and access, while external wallets offer more control and security.\nIt’s essential to understand the different types of wallets so that you can make an informed decision on where to keep your crypto once you buy it.\nSoftware wallet\nWith a software wallet, you manage and protect your crypto holdings with private keys via software on your desktop, through a browser extension or mobile app that connects to a crypto’s\nblockchain\nto make a transaction. Software wallets — also called hot wallets — are connected to the internet.\nHardware wallet\nWith a hardware wallet, you store the private access keys to your wallet offline on a USB drive or other storage device. You only connect a hardware wallet — also called a cold wallet — to the internet to make a transaction, which guards against electronic theft.\nThe type of wallet you choose ultimately comes down to the amount of security you prefer and the level of accessibility you want. A wallet on your phone through an app like Robinhood, for example, may be easier for you to access than a USB. Ultimately, it’s an individual preference.\nIs buying crypto a good investment?\nThe risk and volatility that come with\ninvesting in cryptocurrency\ncan’t be overstated. Crypto prices are volatile because they aren’t backed by hard assets or cash flow. Instead,\nspeculation\nand sentiment drive the market. It bears repeating: You should only invest money you’re comfortable with losing.\nCrypto is a high-risk asset that also has other liabilities, such as cybersecurity risks and regulatory challenges.\nBottom line\nBefore you buy crypto, have your ducks in a row — at least when it comes to your finances. Know that any crypto you buy should be part of a bigger\ninvestment strategy\nand prices are only driven by what other investors are willing to pay for crypto coins. Once you’re ready, you can head to a crypto exchange, peer-to-peer platform or broker to buy coins. Be sure to have your personal information and credit or debit card handy.\nEditorial Disclaimer: All investors are advised to conduct their own independent research into investment strategies before making an investment decision. In addition, investors are advised that past investment product performance is no guarantee of future price appreciation.\nDid you find this page helpful?\nInfo Icon\nHelp us improve our content","attrs_markdown":"[Skip to Main Content](https:\/\/www.bankrate.com\/investing\/how-to-buy-crypto\/#main-content)\n\n{closeNav(); \\$refs.siteNavMenuButton.focus();}\"\\>\n\n- [Banking](https:\/\/www.bankrate.com\/banking\/)\n  All\n  \n  Banking\n  \n  Checking & savings\n  \n  CDs\n  \n  Money market\n  \n  Banks\n  \n  [Explore all banking resources](https:\/\/www.bankrate.com\/banking\/)\n  \n  Banking\n  \n  Compare accounts\n  \n  - [Best high-yield savings accounts](https:\/\/www.bankrate.com\/banking\/savings\/best-high-yield-interests-savings-accounts\/)\n  - [Best checking accounts](https:\/\/www.bankrate.com\/banking\/checking\/best-checking-accounts\/)\n  - [Best free checking accounts](https:\/\/www.bankrate.com\/banking\/checking\/best-free-checking-accounts\/)\n  \n  Get guidance\n  \n  - 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[![](https:\/\/www.bankrate.com\/f\/102997\/1440x1440\/4c26764452\/how-to-start-saving.png\/m\/50x50\/filters:quality\$90\$:format\$webp\$) How to get a personal loan 11 min read](https:\/\/www.bankrate.com\/loans\/personal-loans\/how-to-get-personal-loan\/)\n  \n  Compare lenders\n  \n  - [Best auto loans](https:\/\/www.bankrate.com\/loans\/auto-loans\/rates\/)\n  - [Best auto loan refinance rates](https:\/\/www.bankrate.com\/loans\/auto-loans\/refinance-rates\/)\n  - [Best car loans for bad credit](https:\/\/www.bankrate.com\/loans\/auto-loans\/bad-credit-loans\/)\n  \n  Get guidance\n  \n  - [Auto loan resources](https:\/\/www.bankrate.com\/loans\/auto-loans\/)\n  - [Auto loan lender reviews](https:\/\/www.bankrate.com\/loans\/auto-loans\/reviews\/)\n  - [Auto loan calculator](https:\/\/www.bankrate.com\/loans\/auto-loans\/auto-loan-calculator\/)\n  - [Auto loan refinancing guide](https:\/\/www.bankrate.com\/loans\/auto-loans\/how-to-refinance-car-loan\/)\n  \n  - [![](https:\/\/www.bankrate.com\/f\/102997\/1440x1440\/d1a328a134\/auto-loan-refinancing-guide-nav.png\/m\/50x50\/filters:quality\$90\$:format\$webp\$) How to get the best auto loan rate 10 min read](https:\/\/www.bankrate.com\/loans\/auto-loans\/how-to-get-the-best-auto-loan-rate\/)\n  - [![](https:\/\/www.bankrate.com\/f\/102997\/720x720\/c481afa0d2\/auto-loan-refinancing-guide-s.jpg\/m\/50x50\/filters:quality\$90\$:format\$webp\$) Auto loan basics 5 min read](https:\/\/www.bankrate.com\/loans\/auto-loans\/what-is-an-auto-loan\/)\n  \n  Compare lenders\n  \n  - [Student loan rates](https:\/\/www.bankrate.com\/loans\/student-loans\/rates\/)\n  - [Student loan refinancing rates](https:\/\/www.bankrate.com\/loans\/student-loans\/refinance-rates\/)\n  - [Best bad credit student loans](https:\/\/www.bankrate.com\/loans\/student-loans\/bad-credit-loans\/)\n  \n  Get guidance\n  \n  - [Student loan resources](https:\/\/www.bankrate.com\/loans\/student-loans\/)\n  - [Student loan lender reviews](https:\/\/www.bankrate.com\/loans\/student-loans\/reviews\/)\n  - [Student loan calculator](https:\/\/www.bankrate.com\/loans\/student-loans\/student-loan-calculator\/)\n  - [Student loan refinance calculator](https:\/\/www.bankrate.com\/loans\/student-loans\/student-loan-refinance-calculator\/)\n  \n  - [![](https:\/\/www.bankrate.com\/f\/102997\/1440x1440\/3d6f458d84\/how-to-start-investing-nav-imagery.png\/m\/50x50\/filters:quality\$90\$:format\$webp\$) Private student loan basics 10 min read](https:\/\/www.bankrate.com\/loans\/student-loans\/private-student-loans-guide\/)\n  - [![](https:\/\/www.bankrate.com\/f\/102997\/1440x1440\/4c26764452\/how-to-start-saving.png\/m\/50x50\/filters:quality\$90\$:format\$webp\$) How to get a student loan 11 min read](https:\/\/www.bankrate.com\/loans\/student-loans\/how-to-get-student-loan\/)\n  \n  Compare lenders\n  \n  - [Best small business loans](https:\/\/www.bankrate.com\/loans\/small-business\/best-small-business-loans\/)\n  - [Bad credit small business loans](https:\/\/www.bankrate.com\/loans\/small-business\/bad-credit-business-loans\/)\n  - [Business lines of credit](https:\/\/www.bankrate.com\/loans\/small-business\/business-line-of-credit\/)\n  - [Small business loan banks](https:\/\/www.bankrate.com\/loans\/small-business\/best-banks-for-small-business-loans\/)\n  \n  Get guidance\n  \n  - 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[What is a home equity loan?](https:\/\/www.bankrate.com\/home-equity\/what-is-home-equity-loan\/)\n  - [Home equity loan pros and cons](https:\/\/www.bankrate.com\/home-equity\/pros-cons-home-equity-loan\/)\n  - [Home equity loan requirements](https:\/\/www.bankrate.com\/home-equity\/requirements-to-borrow-from-home-equity\/)\n  - [HELOC vs home equity loan](https:\/\/www.bankrate.com\/home-equity\/home-equity-loan-vs-line-of-credit\/)\n  - [How to build home equity](https:\/\/www.bankrate.com\/home-equity\/how-to-build-equity-in-your-home\/)\n  \n  - [![](https:\/\/www.bankrate.com\/f\/102997\/721x720\/bad3fd8f56\/heloc-lender-reviews-s.jpg\/m\/50x50\/filters:quality\$90\$:format\$webp\$) Best home equity loan lenders Compare top home equity lenders](https:\/\/www.bankrate.com\/home-equity\/home-equity-loan-lenders\/)\n  - [![CD Rates](https:\/\/www.bankrate.com\/f\/102997\/1920x1080\/2654611691\/cd-rates.jpeg\/m\/50x50\/filters:quality\$90\$:format\$webp\$) Home equity calculator Calculate how much you can borrow](https:\/\/www.bankrate.com\/home-equity\/home-equity-calculator\/)\n  \n  [Explore all home equity resources](https:\/\/www.bankrate.com\/home-equity\/)\n- [Insurance](https:\/\/www.bankrate.com\/insurance\/)\n  All\n  \n  Insurance\n  \n  Auto insurance\n  \n  Home insurance\n  \n  Tools & reviews\n  \n  [Explore all insurance resources](https:\/\/www.bankrate.com\/insurance\/)\n  \n  Insurance\n  \n  Compare rates\n  \n  - [Car insurance quotes](https:\/\/www.bankrate.com\/insurance\/car\/car-insurance-quotes\/)\n  - [Best car insurance companies](https:\/\/www.bankrate.com\/insurance\/car\/best-car-insurance-companies\/)\n  - [Cheapest car insurance companies](https:\/\/www.bankrate.com\/insurance\/car\/cheap-car-insurance-companies\/)\n  - [Compare car insurance rates](https:\/\/www.bankrate.com\/insurance\/car\/average-cost-of-car-insurance\/)\n  \n  Popular states\n  \n  - [California](https:\/\/www.bankrate.com\/insurance\/car\/california\/)\n  - [Florida](https:\/\/www.bankrate.com\/insurance\/car\/florida\/)\n  - [Texas](https:\/\/www.bankrate.com\/insurance\/car\/texas\/)\n  - [Ohio](https:\/\/www.bankrate.com\/insurance\/car\/ohio\/)\n  - [Auto insurance by state](https:\/\/www.bankrate.com\/insurance\/car\/states\/)\n  \n  - [![Person smiling while sitting in car](https:\/\/www.bankrate.com\/f\/102997\/1440x1440\/5bfb00cc0b\/auto-insurance-by-state.png\/m\/50x50\/filters:quality\$90\$:format\$webp\$) How much is car insurance? Average cost of car insurance](https:\/\/www.bankrate.com\/insurance\/car\/average-cost-of-car-insurance\/)\n  - [![](https:\/\/www.bankrate.com\/f\/102997\/1440x1440\/20e5cbc3e7\/how-much-is-car-insurance-nav.png\/m\/50x50\/filters:quality\$90\$:format\$webp\$) Car insurance resources Learn more about car insurance](https:\/\/www.bankrate.com\/insurance\/car\/)\n  \n  Compare rates\n  \n  - [Home insurance quotes](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/home-insurance-quotes\/)\n  - [Best home insurance companies](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/best-home-insurance-companies\/)\n  - [Cheapest home insurance companies](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/cheap-homeowners-insurance\/)\n  - [Best home and auto bundles](https:\/\/www.bankrate.com\/insurance\/car-and-home-insurance-bundle\/)\n  \n  Popular states\n  \n  - [California](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/california\/)\n  - [Florida](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/florida\/)\n  - [Texas](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/texas\/)\n  - [New Jersey](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/new-jersey\/)\n  - [Home insurance by state](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/states\/)\n  \n  - [![](https:\/\/www.bankrate.com\/f\/102997\/1440x1440\/8af9dfc8a2\/home-insurance-by-state-nav-imagery.png\/m\/50x50\/filters:quality\$90\$:format\$webp\$) Home insurance cost Average cost of home insurance](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/homeowners-insurance-cost\/)\n  - [![](https:\/\/www.bankrate.com\/f\/102997\/1440x1440\/e85a91b40b\/how-much-is-home-insurance-nav-imagery.png\/m\/50x50\/filters:quality\$90\$:format\$webp\$) Home insurance resources Learn more about home insurance](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/)\n  \n  Calculators\n  \n  - [Car insurance calculator](https:\/\/www.bankrate.com\/insurance\/car\/car-insurance-calculator\/)\n  - [Home insurance calculator](https:\/\/www.bankrate.com\/insurance\/homeowners-insurance\/home-insurance-calculator\/)\n  \n  Get guidance\n  \n  - [Allstate insurance review](https:\/\/www.bankrate.com\/insurance\/reviews\/allstate\/)\n  - [Progressive insurance review](https:\/\/www.bankrate.com\/insurance\/reviews\/progressive\/)\n  - [State Farm insurance review](https:\/\/www.bankrate.com\/insurance\/reviews\/state-farm\/)\n  - [Travelers insurance review](https:\/\/www.bankrate.com\/insurance\/reviews\/travelers\/)\n  - [Lemonade insurance review](https:\/\/www.bankrate.com\/insurance\/reviews\/lemonade\/)\n  \n  - [![Design element two people looking at a car](https:\/\/www.bankrate.com\/f\/102997\/475x270\/8e81cf93f6\/insurance_best_car_insurance_companies.webp\/m\/50x50\/filters:quality\$90\$:format\$webp\$) All insurance company reviews Browse insurance carrier reviews](https:\/\/www.bankrate.com\/insurance\/reviews\/)\n  \n  [Explore all insurance resources](https:\/\/www.bankrate.com\/insurance\/)\n\n{ closeNav(); closeSearch(); }\" :class=\"{ 'is-active': isNavOpen \\|\\| (\\$el.dataset.showOnSearch === '1' && isSearchOpen) }\"\\>\n\n{ closeNav(); closeSearch(); }\" :class=\"{ 'is-active': isNavOpen \\|\\| (\\$el.dataset.showOnSearch === '1' && isSearchOpen) }\"\\>\n\n0; } } catch (error) { this.searchSuggestions = \\[\\]; this.showSearchAutocomplete = false; } } }\" data-beam-element-viewed data-type=\"drawer\" data-location=\"site-nav\" data-name=\"search flyout\" data-position=\"top\" data-text=\"open search flyout\" data-outcome=\"open search flyout container\"\\>\n\n**Popular searches**\n\n- [Mortgage rates](https:\/\/www.bankrate.com\/mortgages\/mortgage-rates\/)\n- [Balance transfer credit cards](https:\/\/www.bankrate.com\/credit-cards\/balance-transfer\/best-balance-transfer-cards\/)\n- [Car insurance quotes](https:\/\/www.bankrate.com\/insurance\/car\/car-insurance-quotes\/)\n\n**Tools**\n\n- [Mortgage calculator](https:\/\/www.bankrate.com\/mortgages\/mortgage-calculator\/)\n- [Loan calculator](https:\/\/www.bankrate.com\/loans\/loan-calculator\/)\n- [CD calculator](https:\/\/www.bankrate.com\/banking\/cds\/cd-calculator\/)\n\n1. [Investing](https:\/\/www.bankrate.com\/investing\/)  ›\n2. How to buy cryptocurrency\n\nAdvertiser Disclosure\n\n# How to buy cryptocurrency\n![Logan Jacoby](https:\/\/www.bankrate.com\/brp\/2024\/07\/25141115\/Logan-Moore-headshot-2.jpg?auto=webp&quality=85&width=24&height=24&fit=cover&enable=upscale&crop=1:1,smart) ![Johna Strickland](https:\/\/www.bankrate.com\/2024\/06\/13164005\/Johna-Strickland.jpeg?auto=webp&quality=85&width=24&height=24&fit=cover&enable=upscale&crop=1:1,smart)\n\nWritten by\n\nLogan Jacoby\n\n,\n\n![](https:\/\/www.bankrate.com\/brp\/2024\/07\/25141115\/Logan-Moore-headshot-2.jpg?auto=webp&quality=85&width=64&height=64&fit=cover&enable=upscale&crop=1:1,smart)\n\n[Logan Jacoby](https:\/\/www.bankrate.com\/authors\/logan-jacoby\/)\n\nFormer investing reporter\n\nExpertise\n\n- •  Investing\n- •  Asset allocation\n\n8 Years of experience\n\nLogan Jacoby is a financial journalist and former investing writer for Bankrate where she covered foundational investing, cryptocurrency and alternative investments.\n\n[Read more](https:\/\/www.bankrate.com\/authors\/logan-jacoby\/)\n\nClose\n\n[Logan Jacoby](https:\/\/www.bankrate.com\/authors\/logan-jacoby\/),\n\nEdited by\n\nJohna Strickland\n\n![](https:\/\/www.bankrate.com\/2024\/06\/13164005\/Johna-Strickland.jpeg?auto=webp&quality=85&width=64&height=64&fit=cover&enable=upscale&crop=1:1,smart)\n\n[Johna Strickland](https:\/\/www.bankrate.com\/authors\/johna-strickland\/)\n\nFormer Editor, Investing\n\nExpertise\n\n- •  Investing for beginners\n- •  Retirement\n\nFormer Bankrate investing editor Johna Strickland has explained complicated topics to everyday people for more than 15 years. As an editor and journalist, she has touched on nearly every aspect of personal finance.\n\n[Read more](https:\/\/www.bankrate.com\/authors\/johna-strickland\/)\n\n- [Connect with Johna Strickland on LinkedIn](https:\/\/www.linkedin.com\/in\/johna-strickland\/)\n\nClose\n\n[Johna Strickland](https:\/\/www.bankrate.com\/authors\/johna-strickland\/)\n\nPublished on September 05, 2024 \\| 4 min read\n\nBankrate is always editorially independent. While we adhere to strict editorial integrity , this post may contain references to products from our partners. Here's an explanation for how we make money . Our Bankrate promise is to ensure everything we publish is objective, accurate and trustworthy.\n\n![Man using cellphone](https:\/\/www.bankrate.com\/brp\/2024\/09\/05134539\/How-to-buy-crypto.jpg?auto=webp&optimize=high&crop=16:9)\n\nhobo\\_018\/Getty Images\n\nThe cryptocurrency market is known to experience extreme ups and downs, yet these digital assets have gained in popularity over the last few years. Thanks to their growing adoption, investors now have more options when it comes to buying [cryptocurrencies](https:\/\/www.bankrate.com\/investing\/types-of-cryptocurrency\/).\n\nIf you’re interested in buying crypto, here’s what you need to know and how to go about it.\n\n## 4 steps to buy crypto\nBefore you think about buying crypto, you may want to revisit your overall financial situation and prioritize having an [emergency fund](https:\/\/www.bankrate.com\/banking\/savings\/starting-an-emergency-fund\/), a manageable level of [debt](https:\/\/www.bankrate.com\/banking\/savings\/these-guidelines-will-help-you-decide-whether-to-pay-down-debt-or-save\/) and a [diversified portfolio](https:\/\/www.bankrate.com\/investing\/tips-for-diversifying-your-portfolio\/) of investments in place first.\n\nBecause [crypto](https:\/\/www.bankrate.com\/investing\/what-is-cryptocurrency\/) is so volatile, any investments you make should be part of a broader investment strategy — not your only one — to offset any losses. Consider only investing what you can afford to lose.\n\nIf you’re ready to buy crypto, here are four steps to get you started.\n\n### 1\\. Pick where you want to buy crypto\nFirst things first, decide what platform you want to purchase the coins on. The most accessible option is a crypto exchange.\n\n- **Crypto exchanges** have the biggest selection of cryptocurrencies and tend to be the most competitive when it comes to offering lower prices. Some of the [most popular exchanges](https:\/\/www.bankrate.com\/investing\/best-online-brokers-cryptocurrency-trading\/) include [Coinbase](https:\/\/www.bankrate.com\/investing\/coinbase-review\/), [Kraken](https:\/\/www.bankrate.com\/investing\/kraken-review\/) and [Binance](https:\/\/www.bankrate.com\/investing\/binance-review\/), but there are many more.\n- **Peer-to-peer payment apps**, such as [Cash App](https:\/\/www.bankrate.com\/investing\/cash-app-review\/) or [PayPal](https:\/\/www.bankrate.com\/credit-cards\/advice\/guide-to-using-paypal\/), also allow you to buy crypto. Fees for these transfers can vary based on the platform. If you buy Bitcoin through Cash App, for example, and spend \\$10 to \\$100, you may be charged a 2.25 percent fee.\n- **Traditional brokers** are another way to buy crypto. With an [online broker](https:\/\/www.bankrate.com\/investing\/best-online-brokers-cryptocurrency-trading\/), you’re able to buy cryptocurrency and potentially keep your other assets under the same roof.\n### 2\\. Create and fund an account\nOnce you’ve decided where to buy your coins, it’s time to open an account. For most online brokers and exchanges, you’ll need to provide basic personal information about yourself. You may be asked things like what your Social Security number is and your birth date to verify your identity.\n\nOnce you complete the profile, you’ll fund your account by attaching a payment method. You may use a credit or debit card or your bank account information.\n\n### 3\\. Decide what crypto to buy\nAfter funding your account, it’s time to decide what crypto to buy. There are tens of thousands of cryptocurrencies, though some platforms only offer specific coins, so take the time to research coins you’re interested in buying and the differences between them.\n\nThe two most popular cryptocurrencies are [Bitcoin](https:\/\/www.bankrate.com\/investing\/what-is-bitcoin\/) and Ethereum. Bitcoin, the original cryptocurrency, has a market capitalization of nearly \\$1.15 trillion. [Ethereum](https:\/\/www.bankrate.com\/investing\/what-is-ethereum\/) is the second-most-popular coin, with a market cap of close to \\$296 billion, and is known for its [smart contract feature](https:\/\/www.bankrate.com\/investing\/what-is-a-smart-contract-crypto\/).\n\nCoins with a large market cap tend to be more stable compared to smaller, more speculative [alt coins](https:\/\/www.bankrate.com\/investing\/types-of-cryptocurrency\/) that offer growth potential but higher volatility and less liquidity. Beginners may want to consider sticking with well-known, higher-liquidity coins. More experienced investors may want to explore newer crypto projects.\n\nRegardless of the coin type and your level of experience, remember that crypto is incredibly speculative and only invest money you’re willing to lose.\n\n### 4\\. Choose a crypto wallet\nYou’ll need a [crypto wallet](https:\/\/www.bankrate.com\/investing\/what-is-a-crypto-wallet\/) to engage in any type of crypto transaction. Depending on what platform you use, some exchanges offer digital wallets where users can store the coins they purchase within the platform. Other platforms require an external wallet to store your coins offline.\n\nWallets within an exchange offer easy use and access, while external wallets offer more control and security.\n\nIt’s essential to understand the different types of wallets so that you can make an informed decision on where to keep your crypto once you buy it.\n\n###\nSoftware wallet\n\nWith a software wallet, you manage and protect your crypto holdings with private keys via software on your desktop, through a browser extension or mobile app that connects to a crypto’s [blockchain](https:\/\/www.bankrate.com\/investing\/what-is-blockchain\/) to make a transaction. Software wallets — also called hot wallets — are connected to the internet.\n\nHardware wallet\n\nWith a hardware wallet, you store the private access keys to your wallet offline on a USB drive or other storage device. You only connect a hardware wallet — also called a cold wallet — to the internet to make a transaction, which guards against electronic theft.\n\nThe type of wallet you choose ultimately comes down to the amount of security you prefer and the level of accessibility you want. A wallet on your phone through an app like Robinhood, for example, may be easier for you to access than a USB. Ultimately, it’s an individual preference.\n\n## Is buying crypto a good investment?\nThe risk and volatility that come with [investing in cryptocurrency](https:\/\/www.bankrate.com\/investing\/how-to-invest-in-cryptocurrency-beginners-guide\/) can’t be overstated. Crypto prices are volatile because they aren’t backed by hard assets or cash flow. Instead, [speculation](https:\/\/www.bankrate.com\/investing\/what-is-speculation\/) and sentiment drive the market. It bears repeating: You should only invest money you’re comfortable with losing.\n\nCrypto is a high-risk asset that also has other liabilities, such as cybersecurity risks and regulatory challenges.\n\n## Bottom line\nBefore you buy crypto, have your ducks in a row — at least when it comes to your finances. Know that any crypto you buy should be part of a bigger [investment strategy](https:\/\/www.bankrate.com\/investing\/investment-strategies-for-beginners\/) and prices are only driven by what other investors are willing to pay for crypto coins. Once you’re ready, you can head to a crypto exchange, peer-to-peer platform or broker to buy coins. Be sure to have your personal information and credit or debit card handy.\n\n*Editorial Disclaimer: All investors are advised to conduct their own independent research into investment strategies before making an investment decision. In addition, investors are advised that past investment product performance is no guarantee of future price appreciation.*\n\nDid you find this page helpful?\n\n**Why we ask for feedback** Your feedback helps us improve our content and services. It takes less than a minute to complete.\n\nYour responses are anonymous and will only be used for improving our website.\n\nHelp us improve our content\n\nYes\n\nNo\n\nThank you for your feedback\\!\n\nYour input helps us improve our content and services.\n\nCite us\n\nShare this article\n\nShare this article\n\nClose\n\n![](https:\/\/www.bankrate.com\/brp\/2024\/07\/25141115\/Logan-Moore-headshot-2.jpg?auto=webp&quality=85&width=96&height=96&fit=cover&enable=upscale&crop=1:1,smart)\n\nWritten by\n\n[Logan Jacoby](https:\/\/www.bankrate.com\/authors\/logan-jacoby\/)\n\nFormer investing reporter\n\n[Read more from Logan](https:\/\/www.bankrate.com\/authors\/logan-jacoby\/)\n\nLogan Jacoby is a financial journalist and former investing writer for Bankrate where she covered foundational investing, cryptocurrency and alternative investments.\n\n![Man using cellphone](https:\/\/www.bankrate.com\/brp\/2024\/09\/05134539\/How-to-buy-crypto.jpg?auto=webp&optimize=high&crop=16:9)\n\nhobo\\_018\/Getty Images\n\nBankrate is always editorially independent. While we adhere to strict editorial integrity , this post may contain references to products from our partners. Here's an explanation for how we make money . Our Bankrate promise is to ensure everything we publish is objective, accurate and trustworthy.\n\n## You may also like\n![design element a person holding a credit card and phone in their hands while sitting down](https:\/\/www.bankrate.com\/2023\/09\/26142409\/Cards_How-to-use-your-Capital-One-card-toward-exclusive-MLB-benefits.jpg)\n\n[From TikTok Shop to sneaker drops: How to stop impulse buying with a credit card](https:\/\/www.bankrate.com\/credit-cards\/advice\/impulse-buying-on-credit-card\/)\n\nAdvice\n\nBy [Katie Kelton, CCC](https:\/\/www.bankrate.com\/authors\/katie-kelton\/)\n\n5 min read\n\n![A young man trades crypto in his home office on his smartphone.](https:\/\/www.bankrate.com\/brp\/2023\/06\/10131839\/crypto-recession-300x169.jpg)\n\n[Crypto during a recession: Here’s what to expect](https:\/\/www.bankrate.com\/investing\/crypto-recession-what-to-expect\/)\n\nInvesting\n\nBy [Brian Baker, CFA](https:\/\/www.bankrate.com\/authors\/brian-baker-cfa\/)\n\n4 min read\n\n![A bitcoin sits next to a stock certificate.](https:\/\/www.bankrate.com\/brp\/2024\/11\/15133026\/Investments-Crypto-vs-stocks-Whats-the-better-choice-for-you-1-300x169.jpg)\n\n[Crypto vs. stocks: What’s the better choice for you?](https:\/\/www.bankrate.com\/investing\/crypto-vs-stocks\/)\n\nInvesting\n\nBy [James Royal, Ph.D.](https:\/\/www.bankrate.com\/authors\/james-royal\/)\n\n5 min read\n\n![Illustration of the symbol for Bitcoin overlaid on a rising chart.](https:\/\/www.bankrate.com\/brp\/2024\/05\/21114340\/price-of-bitcoin-btc-300x169.jpg)\n\n[Bitcoin: A beginner’s guide to the world’s largest cryptocurrency](https:\/\/www.bankrate.com\/investing\/what-is-bitcoin\/)\n\nInvesting\n\nBy [James Royal, Ph.D.](https:\/\/www.bankrate.com\/authors\/james-royal\/)\n\n7 min read\n\n## [Bankrate logo](https:\/\/www.bankrate.com\/)\n### About\n- [About us](https:\/\/www.bankrate.com\/about\/)\n- [Leadership](https:\/\/www.bankrate.com\/leadership\/)\n- [Press room](https:\/\/www.bankrate.com\/press-releases\/)\n- [Bankrate Data Center](https:\/\/www.bankrate.com\/data-center\/)\n- [Careers](https:\/\/www.bankrate.com\/careers\/)\n- [Site map](https:\/\/www.bankrate.com\/corporate\/site-map\/)\n\n### Help\n- [Compare rates](https:\/\/www.bankrate.com\/compare-rates\/)\n- [Latest news](https:\/\/www.bankrate.com\/news\/)\n- [Popular topics](https:\/\/www.bankrate.com\/popular-finance-topics\/)\n- [Advertise with us](https:\/\/www.bankrate.com\/media-kit\/)\n\n### Legal\n- [Privacy policy](https:\/\/www.bankrate.com\/privacy\/)\n- Cookie settings\n- [Do Not Sell or Share My Personal Information](https:\/\/www.bankrate.com\/do-not-sell-or-share-my-personal-information\/)\n- [Consumer Health Information Privacy Policy](https:\/\/www.bankrate.com\/consumer-health-information-privacy-policy\/)\n- [Understanding Bankrate’s averages](https:\/\/www.bankrate.com\/understanding-bankrates-rate-averages\/)\n- [Terms of use](https:\/\/www.bankrate.com\/terms\/)\n- [GLBA annual notice](https:\/\/www.bankrate.com\/glba-notice\/)\n- [California Consumer Financial Privacy Notice](https:\/\/www.bankrate.com\/2022\/02\/15094901\/california-notice.pdf)\n- [Licenses](https:\/\/www.bankrate.com\/licenses\/)\n\n### How we make money\nBankrate.com is an independent, advertising-supported publisher and comparison service. Our websites may earn compensation when a customer clicks on a link, when an application is approved, or when an account is opened. Therefore, this compensation may impact what products appear and how, where, and in what order they appear within listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. Other factors, such as our proprietary website rules and whether a product is offered in your area or at your self-selected credit score range, can also impact how and where products appear on this site. While we strive to provide a wide range of offers, Bankrate does not include information about every financial or credit product or service.\n\nBankrate, LLC NMLS ID\\# 1427381 \\| [NMLS Consumer Access](http:\/\/www.nmlsconsumeraccess.org\/EntityDetails.aspx\/COMPANY\/1427381)  \n BR Tech Services, Inc. NMLS ID \\#1743443 \\| [NMLS Consumer Access](http:\/\/www.nmlsconsumeraccess.org\/EntityDetails.aspx\/COMPANY\/1743443)\n\n© 2026 Bankrate, LLC. A Red Ventures company. All Rights Reserved.","attrs_readable_markdown":"The cryptocurrency market is known to experience extreme ups and downs, yet these digital assets have gained in popularity over the last few years. Thanks to their growing adoption, investors now have more options when it comes to buying [cryptocurrencies](https:\/\/www.bankrate.com\/investing\/types-of-cryptocurrency\/).\n\nIf you’re interested in buying crypto, here’s what you need to know and how to go about it.\n\n## 4 steps to buy crypto\nBefore you think about buying crypto, you may want to revisit your overall financial situation and prioritize having an [emergency fund](https:\/\/www.bankrate.com\/banking\/savings\/starting-an-emergency-fund\/), a manageable level of [debt](https:\/\/www.bankrate.com\/banking\/savings\/these-guidelines-will-help-you-decide-whether-to-pay-down-debt-or-save\/) and a [diversified portfolio](https:\/\/www.bankrate.com\/investing\/tips-for-diversifying-your-portfolio\/) of investments in place first.\n\nBecause [crypto](https:\/\/www.bankrate.com\/investing\/what-is-cryptocurrency\/) is so volatile, any investments you make should be part of a broader investment strategy — not your only one — to offset any losses. Consider only investing what you can afford to lose.\n\nIf you’re ready to buy crypto, here are four steps to get you started.\n\n### 1\\. Pick where you want to buy crypto\nFirst things first, decide what platform you want to purchase the coins on. The most accessible option is a crypto exchange.\n\n- **Crypto exchanges** have the biggest selection of cryptocurrencies and tend to be the most competitive when it comes to offering lower prices. Some of the [most popular exchanges](https:\/\/www.bankrate.com\/investing\/best-online-brokers-cryptocurrency-trading\/) include [Coinbase](https:\/\/www.bankrate.com\/investing\/coinbase-review\/), [Kraken](https:\/\/www.bankrate.com\/investing\/kraken-review\/) and [Binance](https:\/\/www.bankrate.com\/investing\/binance-review\/), but there are many more.\n- **Peer-to-peer payment apps**, such as [Cash App](https:\/\/www.bankrate.com\/investing\/cash-app-review\/) or [PayPal](https:\/\/www.bankrate.com\/credit-cards\/advice\/guide-to-using-paypal\/), also allow you to buy crypto. Fees for these transfers can vary based on the platform. If you buy Bitcoin through Cash App, for example, and spend \\$10 to \\$100, you may be charged a 2.25 percent fee.\n- **Traditional brokers** are another way to buy crypto. With an [online broker](https:\/\/www.bankrate.com\/investing\/best-online-brokers-cryptocurrency-trading\/), you’re able to buy cryptocurrency and potentially keep your other assets under the same roof.\n### 2\\. Create and fund an account\nOnce you’ve decided where to buy your coins, it’s time to open an account. For most online brokers and exchanges, you’ll need to provide basic personal information about yourself. You may be asked things like what your Social Security number is and your birth date to verify your identity.\n\nOnce you complete the profile, you’ll fund your account by attaching a payment method. You may use a credit or debit card or your bank account information.\n\n### 3\\. Decide what crypto to buy\nAfter funding your account, it’s time to decide what crypto to buy. There are tens of thousands of cryptocurrencies, though some platforms only offer specific coins, so take the time to research coins you’re interested in buying and the differences between them.\n\nThe two most popular cryptocurrencies are [Bitcoin](https:\/\/www.bankrate.com\/investing\/what-is-bitcoin\/) and Ethereum. Bitcoin, the original cryptocurrency, has a market capitalization of nearly \\$1.15 trillion. [Ethereum](https:\/\/www.bankrate.com\/investing\/what-is-ethereum\/) is the second-most-popular coin, with a market cap of close to \\$296 billion, and is known for its [smart contract feature](https:\/\/www.bankrate.com\/investing\/what-is-a-smart-contract-crypto\/).\n\nCoins with a large market cap tend to be more stable compared to smaller, more speculative [alt coins](https:\/\/www.bankrate.com\/investing\/types-of-cryptocurrency\/) that offer growth potential but higher volatility and less liquidity. Beginners may want to consider sticking with well-known, higher-liquidity coins. More experienced investors may want to explore newer crypto projects.\n\nRegardless of the coin type and your level of experience, remember that crypto is incredibly speculative and only invest money you’re willing to lose.\n\n### 4\\. Choose a crypto wallet\nYou’ll need a [crypto wallet](https:\/\/www.bankrate.com\/investing\/what-is-a-crypto-wallet\/) to engage in any type of crypto transaction. Depending on what platform you use, some exchanges offer digital wallets where users can store the coins they purchase within the platform. Other platforms require an external wallet to store your coins offline.\n\nWallets within an exchange offer easy use and access, while external wallets offer more control and security.\n\nIt’s essential to understand the different types of wallets so that you can make an informed decision on where to keep your crypto once you buy it.\n\nSoftware wallet\n\nWith a software wallet, you manage and protect your crypto holdings with private keys via software on your desktop, through a browser extension or mobile app that connects to a crypto’s [blockchain](https:\/\/www.bankrate.com\/investing\/what-is-blockchain\/) to make a transaction. Software wallets — also called hot wallets — are connected to the internet.\n\nHardware wallet\n\nWith a hardware wallet, you store the private access keys to your wallet offline on a USB drive or other storage device. You only connect a hardware wallet — also called a cold wallet — to the internet to make a transaction, which guards against electronic theft.\n\nThe type of wallet you choose ultimately comes down to the amount of security you prefer and the level of accessibility you want. A wallet on your phone through an app like Robinhood, for example, may be easier for you to access than a USB. Ultimately, it’s an individual preference.\n\n## Is buying crypto a good investment?\nThe risk and volatility that come with [investing in cryptocurrency](https:\/\/www.bankrate.com\/investing\/how-to-invest-in-cryptocurrency-beginners-guide\/) can’t be overstated. Crypto prices are volatile because they aren’t backed by hard assets or cash flow. Instead, [speculation](https:\/\/www.bankrate.com\/investing\/what-is-speculation\/) and sentiment drive the market. It bears repeating: You should only invest money you’re comfortable with losing.\n\nCrypto is a high-risk asset that also has other liabilities, such as cybersecurity risks and regulatory challenges.\n\n## Bottom line\nBefore you buy crypto, have your ducks in a row — at least when it comes to your finances. Know that any crypto you buy should be part of a bigger [investment strategy](https:\/\/www.bankrate.com\/investing\/investment-strategies-for-beginners\/) and prices are only driven by what other investors are willing to pay for crypto coins. Once you’re ready, you can head to a crypto exchange, peer-to-peer platform or broker to buy coins. Be sure to have your personal information and credit or debit card handy.\n\n*Editorial Disclaimer: All investors are advised to conduct their own independent research into investment strategies before making an investment decision. In addition, investors are advised that past investment product performance is no guarantee of future price appreciation.*\n\nDid you find this page helpful?\n\nHelp us improve our content","meta_canonical":null}

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Meta Title	How To Buy Cryptocurrencies \| Bankrate
Meta Description	There’s no doubt that cryptocurrencies have gained in popularity. Here’s how to buy a cryptocurrency, whether you like Bitcoin or another coin., There’s no doubt that cryptocurrencies have gained in popularity. Here’s how to buy a cryptocurrency, whether you like Bitcoin or another coin.
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Boilerpipe Text	The cryptocurrency market is known to experience extreme ups and downs, yet these digital assets have gained in popularity over the last few years. Thanks to their growing adoption, investors now have more options when it comes to buying cryptocurrencies . If you’re interested in buying crypto, here’s what you need to know and how to go about it. 4 steps to buy crypto Before you think about buying crypto, you may want to revisit your overall financial situation and prioritize having an emergency fund , a manageable level of debt and a diversified portfolio of investments in place first. Because crypto is so volatile, any investments you make should be part of a broader investment strategy — not your only one — to offset any losses. Consider only investing what you can afford to lose. If you’re ready to buy crypto, here are four steps to get you started. 1. Pick where you want to buy crypto First things first, decide what platform you want to purchase the coins on. The most accessible option is a crypto exchange. Crypto exchanges have the biggest selection of cryptocurrencies and tend to be the most competitive when it comes to offering lower prices. Some of the most popular exchanges include Coinbase , Kraken and Binance , but there are many more. Peer-to-peer payment apps , such as Cash App or PayPal , also allow you to buy crypto. Fees for these transfers can vary based on the platform. If you buy Bitcoin through Cash App, for example, and spend $10 to $100, you may be charged a 2.25 percent fee. Traditional brokers are another way to buy crypto. With an online broker , you’re able to buy cryptocurrency and potentially keep your other assets under the same roof. 2. Create and fund an account Once you’ve decided where to buy your coins, it’s time to open an account. For most online brokers and exchanges, you’ll need to provide basic personal information about yourself. You may be asked things like what your Social Security number is and your birth date to verify your identity. Once you complete the profile, you’ll fund your account by attaching a payment method. You may use a credit or debit card or your bank account information. 3. Decide what crypto to buy After funding your account, it’s time to decide what crypto to buy. There are tens of thousands of cryptocurrencies, though some platforms only offer specific coins, so take the time to research coins you’re interested in buying and the differences between them. The two most popular cryptocurrencies are Bitcoin and Ethereum. Bitcoin, the original cryptocurrency, has a market capitalization of nearly $1.15 trillion. Ethereum is the second-most-popular coin, with a market cap of close to $296 billion, and is known for its smart contract feature . Coins with a large market cap tend to be more stable compared to smaller, more speculative alt coins that offer growth potential but higher volatility and less liquidity. Beginners may want to consider sticking with well-known, higher-liquidity coins. More experienced investors may want to explore newer crypto projects. Regardless of the coin type and your level of experience, remember that crypto is incredibly speculative and only invest money you’re willing to lose. 4. Choose a crypto wallet You’ll need a crypto wallet to engage in any type of crypto transaction. Depending on what platform you use, some exchanges offer digital wallets where users can store the coins they purchase within the platform. Other platforms require an external wallet to store your coins offline. Wallets within an exchange offer easy use and access, while external wallets offer more control and security. It’s essential to understand the different types of wallets so that you can make an informed decision on where to keep your crypto once you buy it. Software wallet With a software wallet, you manage and protect your crypto holdings with private keys via software on your desktop, through a browser extension or mobile app that connects to a crypto’s blockchain to make a transaction. Software wallets — also called hot wallets — are connected to the internet. Hardware wallet With a hardware wallet, you store the private access keys to your wallet offline on a USB drive or other storage device. You only connect a hardware wallet — also called a cold wallet — to the internet to make a transaction, which guards against electronic theft. The type of wallet you choose ultimately comes down to the amount of security you prefer and the level of accessibility you want. A wallet on your phone through an app like Robinhood, for example, may be easier for you to access than a USB. Ultimately, it’s an individual preference. Is buying crypto a good investment? The risk and volatility that come with investing in cryptocurrency can’t be overstated. Crypto prices are volatile because they aren’t backed by hard assets or cash flow. Instead, speculation and sentiment drive the market. It bears repeating: You should only invest money you’re comfortable with losing. Crypto is a high-risk asset that also has other liabilities, such as cybersecurity risks and regulatory challenges. Bottom line Before you buy crypto, have your ducks in a row — at least when it comes to your finances. Know that any crypto you buy should be part of a bigger investment strategy and prices are only driven by what other investors are willing to pay for crypto coins. Once you’re ready, you can head to a crypto exchange, peer-to-peer platform or broker to buy coins. Be sure to have your personal information and credit or debit card handy. Editorial Disclaimer: All investors are advised to conduct their own independent research into investment strategies before making an investment decision. In addition, investors are advised that past investment product performance is no guarantee of future price appreciation. Did you find this page helpful? Info Icon Help us improve our content
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[Investing](https://www.bankrate.com/investing/) › 2. How to buy cryptocurrency Advertiser Disclosure # How to buy cryptocurrency ![Logan Jacoby](https://www.bankrate.com/brp/2024/07/25141115/Logan-Moore-headshot-2.jpg?auto=webp&quality=85&width=24&height=24&fit=cover&enable=upscale&crop=1:1,smart) ![Johna Strickland](https://www.bankrate.com/2024/06/13164005/Johna-Strickland.jpeg?auto=webp&quality=85&width=24&height=24&fit=cover&enable=upscale&crop=1:1,smart) Written by Logan Jacoby , ![](https://www.bankrate.com/brp/2024/07/25141115/Logan-Moore-headshot-2.jpg?auto=webp&quality=85&width=64&height=64&fit=cover&enable=upscale&crop=1:1,smart) [Logan Jacoby](https://www.bankrate.com/authors/logan-jacoby/) Former investing reporter Expertise - • Investing - • Asset allocation 8 Years of experience Logan Jacoby is a financial journalist and former investing writer for Bankrate where she covered foundational investing, cryptocurrency and alternative investments. [Read more](https://www.bankrate.com/authors/logan-jacoby/) Close [Logan Jacoby](https://www.bankrate.com/authors/logan-jacoby/), Edited by Johna Strickland ![](https://www.bankrate.com/2024/06/13164005/Johna-Strickland.jpeg?auto=webp&quality=85&width=64&height=64&fit=cover&enable=upscale&crop=1:1,smart) [Johna Strickland](https://www.bankrate.com/authors/johna-strickland/) Former Editor, Investing Expertise - • Investing for beginners - • Retirement Former Bankrate investing editor Johna Strickland has explained complicated topics to everyday people for more than 15 years. As an editor and journalist, she has touched on nearly every aspect of personal finance. [Read more](https://www.bankrate.com/authors/johna-strickland/) - [Connect with Johna Strickland on LinkedIn](https://www.linkedin.com/in/johna-strickland/) Close [Johna Strickland](https://www.bankrate.com/authors/johna-strickland/) Published on September 05, 2024 \\| 4 min read Bankrate is always editorially independent. While we adhere to strict editorial integrity , this post may contain references to products from our partners. Here's an explanation for how we make money . Our Bankrate promise is to ensure everything we publish is objective, accurate and trustworthy. ![Man using cellphone](https://www.bankrate.com/brp/2024/09/05134539/How-to-buy-crypto.jpg?auto=webp&optimize=high&crop=16:9) hobo\_018/Getty Images The cryptocurrency market is known to experience extreme ups and downs, yet these digital assets have gained in popularity over the last few years. Thanks to their growing adoption, investors now have more options when it comes to buying [cryptocurrencies](https://www.bankrate.com/investing/types-of-cryptocurrency/). If you’re interested in buying crypto, here’s what you need to know and how to go about it. ## 4 steps to buy crypto Before you think about buying crypto, you may want to revisit your overall financial situation and prioritize having an [emergency fund](https://www.bankrate.com/banking/savings/starting-an-emergency-fund/), a manageable level of [debt](https://www.bankrate.com/banking/savings/these-guidelines-will-help-you-decide-whether-to-pay-down-debt-or-save/) and a [diversified portfolio](https://www.bankrate.com/investing/tips-for-diversifying-your-portfolio/) of investments in place first. Because [crypto](https://www.bankrate.com/investing/what-is-cryptocurrency/) is so volatile, any investments you make should be part of a broader investment strategy — not your only one — to offset any losses. Consider only investing what you can afford to lose. If you’re ready to buy crypto, here are four steps to get you started. ### 1\. Pick where you want to buy crypto First things first, decide what platform you want to purchase the coins on. The most accessible option is a crypto exchange. - Crypto exchanges have the biggest selection of cryptocurrencies and tend to be the most competitive when it comes to offering lower prices. Some of the [most popular exchanges](https://www.bankrate.com/investing/best-online-brokers-cryptocurrency-trading/) include [Coinbase](https://www.bankrate.com/investing/coinbase-review/), [Kraken](https://www.bankrate.com/investing/kraken-review/) and [Binance](https://www.bankrate.com/investing/binance-review/), but there are many more. - Peer-to-peer payment apps, such as [Cash App](https://www.bankrate.com/investing/cash-app-review/) or [PayPal](https://www.bankrate.com/credit-cards/advice/guide-to-using-paypal/), also allow you to buy crypto. Fees for these transfers can vary based on the platform. If you buy Bitcoin through Cash App, for example, and spend \$10 to \$100, you may be charged a 2.25 percent fee. - Traditional brokers are another way to buy crypto. With an [online broker](https://www.bankrate.com/investing/best-online-brokers-cryptocurrency-trading/), you’re able to buy cryptocurrency and potentially keep your other assets under the same roof. ### 2\. Create and fund an account Once you’ve decided where to buy your coins, it’s time to open an account. For most online brokers and exchanges, you’ll need to provide basic personal information about yourself. You may be asked things like what your Social Security number is and your birth date to verify your identity. Once you complete the profile, you’ll fund your account by attaching a payment method. You may use a credit or debit card or your bank account information. ### 3\. Decide what crypto to buy After funding your account, it’s time to decide what crypto to buy. There are tens of thousands of cryptocurrencies, though some platforms only offer specific coins, so take the time to research coins you’re interested in buying and the differences between them. The two most popular cryptocurrencies are [Bitcoin](https://www.bankrate.com/investing/what-is-bitcoin/) and Ethereum. Bitcoin, the original cryptocurrency, has a market capitalization of nearly \$1.15 trillion. [Ethereum](https://www.bankrate.com/investing/what-is-ethereum/) is the second-most-popular coin, with a market cap of close to \$296 billion, and is known for its [smart contract feature](https://www.bankrate.com/investing/what-is-a-smart-contract-crypto/). Coins with a large market cap tend to be more stable compared to smaller, more speculative [alt coins](https://www.bankrate.com/investing/types-of-cryptocurrency/) that offer growth potential but higher volatility and less liquidity. Beginners may want to consider sticking with well-known, higher-liquidity coins. More experienced investors may want to explore newer crypto projects. Regardless of the coin type and your level of experience, remember that crypto is incredibly speculative and only invest money you’re willing to lose. ### 4\. Choose a crypto wallet You’ll need a [crypto wallet](https://www.bankrate.com/investing/what-is-a-crypto-wallet/) to engage in any type of crypto transaction. Depending on what platform you use, some exchanges offer digital wallets where users can store the coins they purchase within the platform. Other platforms require an external wallet to store your coins offline. Wallets within an exchange offer easy use and access, while external wallets offer more control and security. It’s essential to understand the different types of wallets so that you can make an informed decision on where to keep your crypto once you buy it. ### Software wallet With a software wallet, you manage and protect your crypto holdings with private keys via software on your desktop, through a browser extension or mobile app that connects to a crypto’s [blockchain](https://www.bankrate.com/investing/what-is-blockchain/) to make a transaction. Software wallets — also called hot wallets — are connected to the internet. Hardware wallet With a hardware wallet, you store the private access keys to your wallet offline on a USB drive or other storage device. You only connect a hardware wallet — also called a cold wallet — to the internet to make a transaction, which guards against electronic theft. The type of wallet you choose ultimately comes down to the amount of security you prefer and the level of accessibility you want. A wallet on your phone through an app like Robinhood, for example, may be easier for you to access than a USB. Ultimately, it’s an individual preference. ## Is buying crypto a good investment? The risk and volatility that come with [investing in cryptocurrency](https://www.bankrate.com/investing/how-to-invest-in-cryptocurrency-beginners-guide/) can’t be overstated. Crypto prices are volatile because they aren’t backed by hard assets or cash flow. Instead, [speculation](https://www.bankrate.com/investing/what-is-speculation/) and sentiment drive the market. It bears repeating: You should only invest money you’re comfortable with losing. Crypto is a high-risk asset that also has other liabilities, such as cybersecurity risks and regulatory challenges. ## Bottom line Before you buy crypto, have your ducks in a row — at least when it comes to your finances. Know that any crypto you buy should be part of a bigger [investment strategy](https://www.bankrate.com/investing/investment-strategies-for-beginners/) and prices are only driven by what other investors are willing to pay for crypto coins. Once you’re ready, you can head to a crypto exchange, peer-to-peer platform or broker to buy coins. Be sure to have your personal information and credit or debit card handy. Editorial Disclaimer: All investors are advised to conduct their own independent research into investment strategies before making an investment decision. In addition, investors are advised that past investment product performance is no guarantee of future price appreciation. Did you find this page helpful? Why we ask for feedback Your feedback helps us improve our content and services. It takes less than a minute to complete. Your responses are anonymous and will only be used for improving our website. Help us improve our content Yes No Thank you for your feedback\! Your input helps us improve our content and services. Cite us Share this article Share this article Close ![](https://www.bankrate.com/brp/2024/07/25141115/Logan-Moore-headshot-2.jpg?auto=webp&quality=85&width=96&height=96&fit=cover&enable=upscale&crop=1:1,smart) Written by [Logan Jacoby](https://www.bankrate.com/authors/logan-jacoby/) Former investing reporter [Read more from Logan](https://www.bankrate.com/authors/logan-jacoby/) Logan Jacoby is a financial journalist and former investing writer for Bankrate where she covered foundational investing, cryptocurrency and alternative investments. ![Man using cellphone](https://www.bankrate.com/brp/2024/09/05134539/How-to-buy-crypto.jpg?auto=webp&optimize=high&crop=16:9) hobo\_018/Getty Images Bankrate is always editorially independent. While we adhere to strict editorial integrity , this post may contain references to products from our partners. Here's an explanation for how we make money . Our Bankrate promise is to ensure everything we publish is objective, accurate and trustworthy. ## You may also like ![design element a person holding a credit card and phone in their hands while sitting down](https://www.bankrate.com/2023/09/26142409/Cards_How-to-use-your-Capital-One-card-toward-exclusive-MLB-benefits.jpg) [From TikTok Shop to sneaker drops: How to stop impulse buying with a credit card](https://www.bankrate.com/credit-cards/advice/impulse-buying-on-credit-card/) Advice By [Katie Kelton, CCC](https://www.bankrate.com/authors/katie-kelton/) 5 min read ![A young man trades crypto in his home office on his smartphone.](https://www.bankrate.com/brp/2023/06/10131839/crypto-recession-300x169.jpg) [Crypto during a recession: Here’s what to expect](https://www.bankrate.com/investing/crypto-recession-what-to-expect/) Investing By [Brian Baker, CFA](https://www.bankrate.com/authors/brian-baker-cfa/) 4 min read ![A bitcoin sits next to a stock certificate.](https://www.bankrate.com/brp/2024/11/15133026/Investments-Crypto-vs-stocks-Whats-the-better-choice-for-you-1-300x169.jpg) [Crypto vs. stocks: What’s the better choice for you?](https://www.bankrate.com/investing/crypto-vs-stocks/) Investing By [James Royal, Ph.D.](https://www.bankrate.com/authors/james-royal/) 5 min read ![Illustration of the symbol for Bitcoin overlaid on a rising chart.](https://www.bankrate.com/brp/2024/05/21114340/price-of-bitcoin-btc-300x169.jpg) [Bitcoin: A beginner’s guide to the world’s largest cryptocurrency](https://www.bankrate.com/investing/what-is-bitcoin/) Investing By [James Royal, Ph.D.](https://www.bankrate.com/authors/james-royal/) 7 min read ## [Bankrate logo](https://www.bankrate.com/) ### About - [About us](https://www.bankrate.com/about/) - [Leadership](https://www.bankrate.com/leadership/) - [Press room](https://www.bankrate.com/press-releases/) - [Bankrate Data Center](https://www.bankrate.com/data-center/) - [Careers](https://www.bankrate.com/careers/) - [Site map](https://www.bankrate.com/corporate/site-map/) ### Help - [Compare rates](https://www.bankrate.com/compare-rates/) - [Latest news](https://www.bankrate.com/news/) - [Popular topics](https://www.bankrate.com/popular-finance-topics/) - [Advertise with us](https://www.bankrate.com/media-kit/) ### Legal - [Privacy policy](https://www.bankrate.com/privacy/) - Cookie settings - [Do Not Sell or Share My Personal Information](https://www.bankrate.com/do-not-sell-or-share-my-personal-information/) - [Consumer Health Information Privacy Policy](https://www.bankrate.com/consumer-health-information-privacy-policy/) - [Understanding Bankrate’s averages](https://www.bankrate.com/understanding-bankrates-rate-averages/) - [Terms of use](https://www.bankrate.com/terms/) - [GLBA annual notice](https://www.bankrate.com/glba-notice/) - [California Consumer Financial Privacy Notice](https://www.bankrate.com/2022/02/15094901/california-notice.pdf) - [Licenses](https://www.bankrate.com/licenses/) ### How we make money Bankrate.com is an independent, advertising-supported publisher and comparison service. 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Readable Markdown	The cryptocurrency market is known to experience extreme ups and downs, yet these digital assets have gained in popularity over the last few years. Thanks to their growing adoption, investors now have more options when it comes to buying [cryptocurrencies](https://www.bankrate.com/investing/types-of-cryptocurrency/). If you’re interested in buying crypto, here’s what you need to know and how to go about it. ## 4 steps to buy crypto Before you think about buying crypto, you may want to revisit your overall financial situation and prioritize having an [emergency fund](https://www.bankrate.com/banking/savings/starting-an-emergency-fund/), a manageable level of [debt](https://www.bankrate.com/banking/savings/these-guidelines-will-help-you-decide-whether-to-pay-down-debt-or-save/) and a [diversified portfolio](https://www.bankrate.com/investing/tips-for-diversifying-your-portfolio/) of investments in place first. Because [crypto](https://www.bankrate.com/investing/what-is-cryptocurrency/) is so volatile, any investments you make should be part of a broader investment strategy — not your only one — to offset any losses. Consider only investing what you can afford to lose. If you’re ready to buy crypto, here are four steps to get you started. ### 1\. Pick where you want to buy crypto First things first, decide what platform you want to purchase the coins on. The most accessible option is a crypto exchange. - Crypto exchanges have the biggest selection of cryptocurrencies and tend to be the most competitive when it comes to offering lower prices. Some of the [most popular exchanges](https://www.bankrate.com/investing/best-online-brokers-cryptocurrency-trading/) include [Coinbase](https://www.bankrate.com/investing/coinbase-review/), [Kraken](https://www.bankrate.com/investing/kraken-review/) and [Binance](https://www.bankrate.com/investing/binance-review/), but there are many more. - Peer-to-peer payment apps, such as [Cash App](https://www.bankrate.com/investing/cash-app-review/) or [PayPal](https://www.bankrate.com/credit-cards/advice/guide-to-using-paypal/), also allow you to buy crypto. Fees for these transfers can vary based on the platform. If you buy Bitcoin through Cash App, for example, and spend \$10 to \$100, you may be charged a 2.25 percent fee. - Traditional brokers are another way to buy crypto. With an [online broker](https://www.bankrate.com/investing/best-online-brokers-cryptocurrency-trading/), you’re able to buy cryptocurrency and potentially keep your other assets under the same roof. ### 2\. Create and fund an account Once you’ve decided where to buy your coins, it’s time to open an account. For most online brokers and exchanges, you’ll need to provide basic personal information about yourself. You may be asked things like what your Social Security number is and your birth date to verify your identity. Once you complete the profile, you’ll fund your account by attaching a payment method. You may use a credit or debit card or your bank account information. ### 3\. Decide what crypto to buy After funding your account, it’s time to decide what crypto to buy. There are tens of thousands of cryptocurrencies, though some platforms only offer specific coins, so take the time to research coins you’re interested in buying and the differences between them. The two most popular cryptocurrencies are [Bitcoin](https://www.bankrate.com/investing/what-is-bitcoin/) and Ethereum. Bitcoin, the original cryptocurrency, has a market capitalization of nearly \$1.15 trillion. [Ethereum](https://www.bankrate.com/investing/what-is-ethereum/) is the second-most-popular coin, with a market cap of close to \$296 billion, and is known for its [smart contract feature](https://www.bankrate.com/investing/what-is-a-smart-contract-crypto/). Coins with a large market cap tend to be more stable compared to smaller, more speculative [alt coins](https://www.bankrate.com/investing/types-of-cryptocurrency/) that offer growth potential but higher volatility and less liquidity. Beginners may want to consider sticking with well-known, higher-liquidity coins. More experienced investors may want to explore newer crypto projects. Regardless of the coin type and your level of experience, remember that crypto is incredibly speculative and only invest money you’re willing to lose. ### 4\. Choose a crypto wallet You’ll need a [crypto wallet](https://www.bankrate.com/investing/what-is-a-crypto-wallet/) to engage in any type of crypto transaction. Depending on what platform you use, some exchanges offer digital wallets where users can store the coins they purchase within the platform. Other platforms require an external wallet to store your coins offline. Wallets within an exchange offer easy use and access, while external wallets offer more control and security. It’s essential to understand the different types of wallets so that you can make an informed decision on where to keep your crypto once you buy it. Software wallet With a software wallet, you manage and protect your crypto holdings with private keys via software on your desktop, through a browser extension or mobile app that connects to a crypto’s [blockchain](https://www.bankrate.com/investing/what-is-blockchain/) to make a transaction. Software wallets — also called hot wallets — are connected to the internet. Hardware wallet With a hardware wallet, you store the private access keys to your wallet offline on a USB drive or other storage device. You only connect a hardware wallet — also called a cold wallet — to the internet to make a transaction, which guards against electronic theft. The type of wallet you choose ultimately comes down to the amount of security you prefer and the level of accessibility you want. A wallet on your phone through an app like Robinhood, for example, may be easier for you to access than a USB. Ultimately, it’s an individual preference. ## Is buying crypto a good investment? The risk and volatility that come with [investing in cryptocurrency](https://www.bankrate.com/investing/how-to-invest-in-cryptocurrency-beginners-guide/) can’t be overstated. Crypto prices are volatile because they aren’t backed by hard assets or cash flow. Instead, [speculation](https://www.bankrate.com/investing/what-is-speculation/) and sentiment drive the market. It bears repeating: You should only invest money you’re comfortable with losing. Crypto is a high-risk asset that also has other liabilities, such as cybersecurity risks and regulatory challenges. ## Bottom line Before you buy crypto, have your ducks in a row — at least when it comes to your finances. Know that any crypto you buy should be part of a bigger [investment strategy](https://www.bankrate.com/investing/investment-strategies-for-beginners/) and prices are only driven by what other investors are willing to pay for crypto coins. Once you’re ready, you can head to a crypto exchange, peer-to-peer platform or broker to buy coins. Be sure to have your personal information and credit or debit card handy. Editorial Disclaimer: All investors are advised to conduct their own independent research into investment strategies before making an investment decision. In addition, investors are advised that past investment product performance is no guarantee of future price appreciation. Did you find this page helpful? Help us improve our content
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