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Buying your first bitcoin
You can start with a few dollars. Go slow, use a well-known service, and learn as you go.
- Use a well-known, regulated app or exchange that serves your country.
- Start small. You can buy any amount, even $10.
- Once you are comfortable, move your bitcoin to a wallet you control.
1. Pick where to buy
Choose a long-running, regulated service available where you live. Expect to verify your identity, much like opening a bank account. Protect the account with a unique password and an authenticator app (a phone app that shows login codes), not text-message codes. Our where-to-buy guide lists services by country on the same facts. Being listed is not an endorsement.
2. Buy a small amount
Buy only what you are comfortable losing while you learn. A bank transfer usually costs less than a card. Check the fee before you confirm. This guide is about bitcoin only, so you can skip the other coins the app promotes. Skip bitcoin ATMs too: they often charge far more than apps, and the FBI says scammers steer victims to them.
3. Move it to your own wallet
Coins left on an exchange are held by that company. When you are ready, move them to a wallet you control. Our hardware wallet comparison lists the devices people use, side by side.
This is general information, not financial advice. Bitcoin's price can swing a lot. Only use money you can afford to leave alone.
Want to go deeper?
Red flags to walk away from
- Anyone promising guaranteed or doubled returns.
- A "friend" from a dating app or chat group who wants to show you a platform.
- Apps you found through an ad or a direct message.
More in Common scams.
Do I owe taxes?
In the US, buying is not taxed, but selling or spending bitcoin can be. Keep a record of what you paid. US exchanges and other brokers now report sales to you and the IRS on Form 1099-DA. Check with a tax professional for your situation.