Hi, welcome back to how to live on crypto! In the first part I showed you how to use a wallet, the basic mechanism for sending and receiving funds. Now I’ll show you how to actually get some crypto to spend.
Now I’m separating this into two different sections: ID and no ID. Basically, the first category includes services like banks that are pretty streamlined and easy to use, but just like banks they require you to verify your financial identity. The second category does not. While the first probably has a faster and easier user experience, it still has the same restrictions and issues of the old financial system, the system we’re trying to avoid when we use crypto. But, if you already have a bank account, don’t feel bad about using a similar service if it’s easier for you.
How to Buy Online
Go to Dash.org, under “individuals” click on “buy online.” Select your currency, and then sign up for one of the supporting exchanges. Note that some of these may not be that easy to use for new users as they’re geared towards traders. I recommend you use Uphold as it’s easy and straightforward to use, supports a lot of different currencies, and is even integrated right into the Dash mobile wallet! This is the easiest way to buy Dash.
To sign up for Uphold, go to the website, click “sign up,” and follow all the instructions to create, and verify, an account, and add a payment option. You can then buy Dash by creating a “Dash card” and choosing a payment method.
In your mobile Dash wallet, go to “buy and sell Dash,” and link your Uphold account. The absolute easiest way to transfer your newly bought Dash out to your wallet is on mobile. Simply press “buy and sell Dash,” then “transfer from Uphold,” enter the amount, hit “transfer,” and it will show up in your wallet.
If you’re doing all this on your computer it’s a slightly longer process. Go to your wallet and copy your receiving address (they way I showed you in the last video), go to your Uphold dashboard, click on your “Dash card,” click on “send to cryptocurrency or utility token,” select Dash, paste in that address, enter the amount, and hit send.
Other than Uphold, Coinbase is another great user-friendly option.
If you want to buy with a credit card rather than linking your bank account, try Changelly.
Buying Without an ID
Now, let’s get to how to buy some crypto if you don’t have a bank account, or don’t want to use your ID.
The best way to buy some crypto privately is in-person for cash from someone you know. If you have a friend who is willing to sell you some, it’s as easy as receiving any other transaction in your wallet, and, once it shows up, exchanging the cash.
If you don’t know anyone personally, try going to a meetup near you. The best place to look is probably Facebook or Meetup.com, or just through a search engine like Google. Search for things like “crypto meetup” or “cryptocurrency meetup” or “Bitcoin meetup.”
The next best way is through an ATM, or crypto vending machine. These work about how you suspect: you walk up to the machine, input how much crypto you want to buy, the machine will scan the QR code on your phone wallet, you stick cash into the machine, and you get some crypto. Depending on the machine operator, and on how much you’re trying to buy, there may be some ID requirements. Typically, for smaller amounts there is either no special requirement, or it asks for your phone number only. With large amounts they’ll ask for your ID, and at that point you may be better off just using an exchange, unless you don’t want to link your bank account, or you don’t have one.
To find an ATM near you, go to Dash.org, and under “individuals” click on “find an ATM.” That will bring up a global map of ATMs where you can find one near you to buy from.
If you have some crypto already, but it isn’t something that’s easy to spend or commonly used as money, you can swap it some something like Dash that is. This is much easier than exchanging it for regular money. Using a service like SwapSpace, enter the amount you want to exchange or receive, enter the receiving address of the crypto you want to receive, and then pay the resulting invoice with the crypto you already have.
Of course, the very best way to get some crypto is the same way you get money today: getting paid with it. There will be a video later on focusing on just that, but in the meantime if you can get someone to agree to pay you in crypto, you can receive into your wallet just the same way you receive any other transaction.
That’s it for this episode, and once again, all the links to every service discussed here are in the description. Next time I’ll show you how to buy stuff online. See you soon!
Links
Awesome explainer article, good job man!
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