The concept of cryptocurrency can be an enigma, but buying cryptocurrency for yourself can be even more confusing. Should you use Coinbase? Or Cash App? Is there another app that’s even better? Is buying Bitcoin on your phone safe at all? Have no fear — here’s how to buy Bitcoin or other cryptocurrencies like Ethereum and Litecoin directly from your iPhone.
How to buy Bitcoin on an iPhone w/ Coinbase
- Make a Coinbase account
- Download the Coinbase app
- Log in and tap the trade button
- Enter the amount you want to buy
- That’s it!
Make a Coinbase account
There are many different services to choose from when buying Bitcoin on an iPhone, but Coinbase is largely regarded as the most trustworthy option. It also has some benefits — namely, its robust support for trading, sending, receiving, and transferring your coins to others or your own private wallet — that make it one of the best options if you want to actually own your Bitcoin.
The first step is to go ahead and create your Coinbase account. All you need is a name, email address, password, and select the state that you reside in. If you want to buy Bitcoin on your iPhone in a different country, you can also check out some of the most popular exchanges.
Use this link when you create your Coinbase account to receive a $10 bonus credited to your account when your first purchase — or cumulative purchases — are over $100.
Download the Coinbase app
The next step to buying Bitcoin or other cryptocurrencies on your iPhone is probably the easiest one of all — just download the Coinbase app. You know how to do this — head over to the App Store and download the app on your device. Once upon a time, Bitcoin and cryptocurrency wallet apps like Coinbase and others weren’t allowed on the App Store, but thankfully Apple resolved that issue a while back. Rest assured that the Coinbase app on the App Store is indeed official.
Log in and tap the trade button
The first thing you need to do once you’ve downloaded the Coinbase app is open it up on your device. From there, you’ll be prompted to enter your Coinbase account credentials. After you log in, you should be presented with the below screen, which shows all the crypto assets that are on your watch list. Bitcoin is likely at the top.
To initiate your Bitcoin purchase, just tap the blue “trade” button at the bottom of the screen. You’ll be presented with three options: Buy, Sell, or Convert. If this is your first time buying cryptocurrency, it’s clear that “Buy” is the option you’ll want to select here. From there, the app will give you the opportunity to choose which asset you want to purchase.
Enter the amount you want to buy
Assuming you chose Bitcoin, you’ll be shown the below screen. Simply enter the amount you’re looking to buy (as mentioned, your first $100 purchase will give you an extra $10 credit if you use this link), and enter your payment method. Coinbase puts some limits on the amounts you can purchase when you have a new account, and those limits and the time it takes for transactions to clear depend on the method of payment you use.
Generally, debit cards have lower limits and process faster, while linked bank accounts have more generous limits but require more verification time. Also note here that your Bitcoin (or other crypto) purchase is going to have an associated Coinbase fee. That’s what Coinbase charges you to make purchases and use their service — and it’s a fee that gets proportionally less the more Bitcoin you buy.
After you’ve confirmed the transaction, you should immediately see the funds in your account, and if it’s your first purchase in the Coinbase app, you’ll see the above friendly celebratory Bitcoin welcoming you to the “world of crpyto”.
That’s all you need to know about buying Bitcoin on your iPhone with the Coinbase app. Once you have your Bitcoin in Coinbase, you should know that it’s tied to your Coinbase account, not a specific device. So if you head over to the Coinbase website and log in, you’ll see all the cryptocurrency that you purchased in the app. That’s not the case if you decide to send your purchased cryptocurrency to a cold wallet, which we recommend, but that’s for another day — you can learn about cold storage here.
Disclaimer: This post is for informational purposes only, and none of the information above is intended to be legal, investment, financial, or other advice.
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