How to Buy Bitcoin (BTC) for Beginners (Poloniex to BTC)4 min read
Poloniex is a cryptocurency trading website where you can sell or buy crypto coins with other crypto coins.
Unfortunately, no fiat money (dollars, euros etc.) are allowed. The first step we take is to create an account. To do that click on the “Create Your Account” button
2. Enter the information required and click the “Register” button.
3. Email confirmation.
Go to your email client and open the Poloniex email that you have just received. Click on the link inside.
4. Sign Back In
After clicking on the link you will be brought back to a sign in page. Sign in with your email and password and continue completing your profile. When you are finished click the “Begin Verification” button.
5. Profile verification.
Now you will have to verify your profile with personal documents. Click the “Start ID verification” button to start the process.
6. Choosing prefered ID
After clicking the “Start ID verification” button, you will be presented with an option to choose your country and depending on your country of origin you can choose one of the document types that you are going to submit for a review
In this tutorial we use driver’s license.
7. Taking picture of your ID document
Now with your camera you should take a photo of your document in the same way it is presented on the example, and then click “Continue”.
8. Taking a photo of yourself
Next you should take a picture of yourself in the same way it is presented on the example, and then click “Confirm”.
After clicking “Confirm” you will be notified that your submission is received. Profile verifications can take from couple of minutes to couple of days.
After your account gets verified you will now be able to deposit coins and exchange them.
9. Prepare to deposit into Poloniex
In the ”Balances” menu choose the “Deposits & Withdrawals” submenu.
10. Deposit Coins into Poloniex (Poloniex does not take USD)
In this example we use Bitcoin.
Click the Deposit
You will be shown an address that you should send your Bitcoins to from your Bitcoin wallet.
It might take time for the Bitcoin to arrive and will depend on the wallet or exchange you are sending from.
11. Now Let’s Buy Bitcoin.
Click on the “Exchange” menu.
11.1 Find the Bitcoin trading tab
In the search bar type “Bitcoin” and click on the yellow Bitcoin tab.
11.2 Buying the Bitcoin
After the chart refreshes to show Bitcoin, scroll down where you can find the buying tab. Enter the amount of Bitcoin you want to buy and click the “Buy” button.
After the order gets processed in the “Deposits and Withdrawals” submenu you can see your Bitcoin awaiting for you.
And there you go, you now have Bitcoin.
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