How to buy Bitcoin with Bitstamp
1. Create a Bitstamp account
Open your browser and go to https://www.bitstamp.net. Click either ‘Register’ or ‘Create account’. You will be forwarded to the ‘Open free account’ page. Fill in the form, tick the box to agree with Bitstamp’s terms and conditions and click ‘Register’.
You’ll see a notification confirming that your registration is complete and that you’ll receive your user ID and password via email.
Check the email in your inbox and take note of both the client ID and password for your account. Then return to the Bitstamp website, and click ‘Log In’. Enter the relevant username and password details.
2. Change password and begin the verification
When you first log in to Bitstamp, you’ll see a notification that your password is out of date. Click the link to change your password. On the new screen, enter your current password in the field at the top. Next, put your new password into the fields.
3. Upload your ID and submit the verification request
Start the verification process by going to https://www.bitstamp.net/account/verify. You’ll first be asked to choose between a personal and corporate account. If you’re a private individual, click ‘Personal Account’.
The next verification screen will ask you to verify your ID and enter your name, residential address, date of birth and declare whether you’re a US Citizen or resident for tax purposes.
Scroll down and click the ‘Browse’ button to upload the image of your ID. Use the fields below to enter the dates of issue and expiry.
The next step is to submit your proof of address. Click the ‘Browse’ button to upload your proof of address. This must be either a bank statement, a utility bill (such as a gas bill) that is no more than three months old, or a government document such as a tax certificate. You cannot use your ID here, even if it shows your address.
Click ‘Submit Verification Request’ at the bottom of the screen. Bitstamp will review the information and documents you provided. If they are valid, your account will be verified in 2-3 working days. You must wait for this to happen before you can buy Bitcoins.
4. Enable two-factor authentication
Enabling two-factor authentication means Bitstamp will request a special code from your mobile device when signing in or processing transactions. To use it, you’ll need a suitable app for your phone such as Google Authenticator or FreeOTP, which are free to download on the iTunes and Google Play stores (for iOS and Android, respectively).
Go to https://www.bitstamp.net/account/security/two-factor-authentication and click ‘Enable two-Factor Authentication’. You will see a QR code which you can scan in using your mobile app.
5. Buy Bitcoin with a credit card
If you have a Visa or Mastercard and live in an EU country (including the UK), you can purchase Bitcoin instantly using your credit card. To get started, go to https://www.bitstamp.net/account/deposit/credit-card in your browser and click ‘Buy’ underneath the amount of BTC you wish to purchase.
6. Deposit funds to your account and place an instant order for Bitcoin
If you’re unable to use a credit card to buy Bitcoin, you can deposit funds with Bitstamp via your bank account instead. To get started, go to https://www.bitstamp.net/account/deposit.
Once your funds are confirmed, the simplest way to purchase Bitcoin is an instant order at the current bid/ask price.
To place an instant order, go to https://www.bitstamp.net/market/order/instant. Click ‘Buy BTC’, then in the ‘I want to spend’ box enter the total amount of funds you want to use for buying Bitcoin. This amount includes Bitstamp’s fees.
Click ‘Buy BTC’ underneath to place your order. Once your order is processed, the amount will be added to your BTC balance.
7. Other available orders
Bitstamp supports placing more advanced types of orders. These can be helpful if you want to get the best possible value for money.
Going to https://www.bitstamp.net/market/order, you can place a ‘Limit Order (Advanced) or ‘Stop Order’.
You can also place a ‘Stop Buy’ order to purchase when the price rises to a certain level, again optionally with a ‘Trailing Stop’.
8. Using Bitcoins to pay for courses!
Once your Bitstamp account has been funded with your desired cryptocurrency, you can easily make payments by using your wallet or sending bitcoins directly to my wallet (address will be shown in the payment box)
pay attention to the transaction fee of your payment, bitcoin has the lowest fees possible (currently less than 2 dollars per transaction) but even if the wallet you are using allows you to set the fee, under no circumstances make a payment with zero fee, because miners won’t process transactions without the proper fee and your payment will get lost and can take anywhere from a few hours to many days to get processed! so for your own safety, make sure you have a proper fee set on your transaction so it happens smoothly and within minutes to an hour from making the payment. for more info on transaction fees, go to https://bitcoinfees.info/