9 minsPublished on 9/19/2023

How to buy Bitcoin: A guide to purchasing Bitcoin (BTC)

By Corey Barchat

Looking to buy Bitcoin (BTC) but don't know how or where?

Don't worry, MoonPay offers the easiest option to buy cryptocurrency, such as Bitcoin. Pay with your preferred payment method, with low fees and the highest security.

In our step-by-step guide you'll learn:

  1. How to purchase Bitcoin using a credit/debit card or bank transfer

  2. Brief history of Bitcoin

  3. Bitcoin market research

  4. How to buy other cryptocurrency assets

How To Buy Bitcoin (step by step)

Below are the steps to purchase Bitcoin instantly via MoonPay.

Step 1: Create a MoonPay account

You can buy Bitcoin instantly via the MoonPay widget and MoonPay App.

Head over to moonpay.com/buy/btc to access the MoonPay widget, or download the MoonPay App on the Apple App Store or Google Play Store, if you prefer buying Bitcoin on mobile.

Click the "Login" button on your platform of choice to sign in to your account, or create a new one.

A screenshot of the MoonPay widget login to start Bitcoin investing.

If you’re a new user, you'll need to enter some additional details for identity verification. For more information on this process, scroll down to the Identity verification (KYC) section below.

Note: You can also go to moonpay.com/buy and manually select Bitcoin (BTC) as the cryptocurrency you wish to purchase.

Step 2: Choose the amount of Bitcoin to purchase

Enter the quantity of Bitcoin or fiat currency amount in the local currency of your choice.

A screenshot displaying a $35 BTC purchase when buying Bitcoin via the MoonPay widget.

Note: Bitcoin purchase orders have a minimum of $35 USD.

Step 3: Enter your Bitcoin wallet address

Next, enter the Bitcoin wallet address where you'd like to receive your purchased BTC. MoonPay supports purchases for all major Bitcoin wallets, including Bitcoin.com, Exodus, and Trust Wallet, and more.

Always be sure to double-check that the wallet address is correct.

MoonPay widget and Bitcoin wallet address entry screen

If you’re using MoonPay through a partner wallet application, your wallet will automatically send us your correct Bitcoin address, and so you don’t need to tell us where to send your Bitcoin.

MoonPay will store available wallets that you've used previously, so you won't need to copy and paste the same address for future Bitcoin purchases.

If you believe someone is coercing you into buying Bitcoin or sending BTC maliciously, check out our guide How to spot and avoid crypto scams to see the red flags and signs that you may be victim to a scam.

Never share your private keys with anyone.

Step 4: Enter your payment details

Next, you'll need to enter your card or bank information, depending on your preferred payment method.

MoonPay supports Bitcoin purchases using credit/debit card, bank transfer, Apple Pay, Google Pay, and more. Depending on your location, we also offer specialized payment options, such as SEPA (EU), Faster Payments Service (UK), YellowCard (Nigeria), and PIX (Brazil).

MoonPay widget screen to enter credit card details to purchase Bitcoin

If you ever need to update your billing address or add/remove a payment method, you can do so on this screen.

Note: For all Bitcoin purchases made via MoonPay, debit cards have a 35% greater chance of succeeding.

Step 5: Confirm your order

Confirm that the purchase amount and payment information are correct, and click the box to agree to MoonPay's Terms of Use.

After clicking "Pay" your order will be processed, and you'll receive an email with an order confirmation and link to the MoonPay tracker, where you can monitor the status of your order in real-time.

Identity verification (KYC)

If this is your first MoonPay purchase, or if you are not logged in, then you'll need to complete some additional identity verification steps:

1. Email address and verification code

MoonPay widget screen to enter email address when buying Bitcoin

Note: If the email doesn't arrive within a few minutes, you can click to resend the code.

2. Basic information (name, date of birth, nationality)

MoonPay widget screen to enter basic information to buy crypto

You'll also need to enter billing address information.

Note: You can search by location, or add your address manually.

3. Cellphone number

MoonPay widget screen to enter your cellphone number when buying Bitcoin

Depending on your country of residence, you'll need to enter your phone number to comply with local regulations.

Once you enter your number, you'll receive a four-digit code that you can enter on the next screen.

4. Social Security Number (for US customers)

MoonPay widget screen to enter Social Security Number (SSN) to buy Bitcoin

Note: On this screen, you'll need to agree to the Zero Hash and Zero Hash Liquidity Services User Agreement, and Zero Hash Privacy Policy and Regulatory Disclosures.

Once you agree to these policies, your identity verification will be processed.

MoonPay widget screen showing verification in progress to verify identity and buy Bitcoin

For your first Bitcoin purchase, you'll need to wait up to 60 seconds to pass our KYC identity verification process.

Purchase limits

Your purchasing limit upon basic verification is $1,000 USD.

MoonPay widget screen showing purchase limits of how much Bitcoin you can buy

To increase your limit, you'll need to provide additional items, including a live selfie, and passport photo.

Research about Bitcoin

Bitcoin history

In 2008, the Bitcoin whitepaper was published, establishing Bitcoin as the first cryptocurrency. Bitcoin was created to be a decentralized digital currency that no one entity or intermediary could control. Bitcoin transactions are recorded on a public, distributed ledger known as the blockchain.

New Bitcoins are created through a process called "mining", in which "miners" compete to validate transactions by solving complex mathematical puzzles. This process, called a Proof of Work consensus mechanism, serves to produce new blocks while securing the Bitcoin blockchain.

As an open-source protocol, anyone, anywhere, can contribute to the development of the Bitcoin blockchain.

For more information about Bitcoin, view our Beginner's Guide to Bitcoin (BTC).

Start Buying BTC today 

You're ready to buy Bitcoin! If it's your first time buying Bitcoin, don't be intimidated. MoonPay makes it easy for beginners.

How to buy other crypto assets 

Bitcoin is the leading cryptocurrency, but it's not the only one. MoonPay also offers support for Ethereum, Tether, BNB, USD Coin, and more.

Frequently Asked Questions

How to buy Bitcoin with a credit card?

MoonPay makes it easy to purchase Bitcoin using a credit card. Instead of cryptocurrency exchanges that take days for your funds to settle, MoonPay's simple on-ramp allows you to buy BTC with your card and receive it in minutes, directly in your Bitcoin wallet.

Can anyone buy Bitcoin using MoonPay?

MoonPay offers Bitcoin purchase services for residents of more than 160 countries. We have global coverage for many territories and US states, except the ones listed here.

How much does it cost to buy Bitcoin?

Right now, it costs about $26,410.70 USD to buy 1 Bitcoin.

How to buy Bitcoin with a gift card?

Digital gift cards and reloadable cards can be used to purchase Bitcoin. The acceptance rate, however, will vary based on factors such as the bank or company that issues the card.

Want to give the gift of Bitcoin? Read our simple guide to gifting crypto.

What payment methods are supported to buy Bitcoin?

MoonPay offers many different payment method options that make buying Bitcoin easy for beginners all over the world. You can buy Bitcoin on MoonPay using a credit card, debit card, Apple Pay, Google Pay, bank transfer (SEPA), and local options such as YellowCard (Nigeria) and PIX (Brazil).

What information is needed to purchase Bitcoin?

How much Bitcoin you can buy depends on your purchase limits. For purchases under $1,000 USD, MoonPay only requires basic information, such as your name, email, address, and phone number. If you want to purchase BTC in amounts up to $25,000 USD, you'll need to submit documents such as an ID or passport.

How can I sell Bitcoin? 

MoonPay makes it easy to sell Bitcoin when you decide it's time to cash out your purchased Bitcoin. Just enter the amount of BTC you'd like to sell and the details where you want to receive your funds.

Want to sell Bitcoin but not sure how? Read our help guide to selling Bitcoin, or contact our team for personalized support.

Where is the best place to store Bitcoins?

MoonPay has partnerships with several leading Bitcoin wallet applications that offer Bitcoin-specific features to "HODL" BTC. Some of these include Bitcoin.com, Trust Wallet, and Exodus. MoonPay's on-ramp is also available directly in hardware wallets such as Ledger and Trezor.

There are many crypto wallets to choose from to store Bitcoin. There are hot wallets, cold wallets, hardware wallets, paper wallets, desktop wallets, mobile wallets, and many more options.

Did you know? You can pay with Bitcoin

Depending on your investment preferences and strategy, you may prefer to use a non-custodial wallet where you have total control over your funds and private keys, or a custodial wallet where you delegate control to a third party.

No matter which digital wallet you use to store Bitcoin, you should always keep your seed phrase offline and written down in a safe place. Never share your private key with anyone, as they will be able to access your funds with total control over your wallet.

Need help deciding which type of cryptocurrency wallet is right for you? Read our helpful guide to get started.

Disclaimer: As with any traditional investment strategy, it's always important to do your own research before spending any funds. Cryptocurrency investments carry increased risk based on high price volatility and market conditions. Only invest in cryptocurrency products that you have a firm understanding of, including the associated risk factors. Any content on this page is for informational purposes only, and shall not be construed as financial advice or an endorsement from MoonPay. Before making Bitcoin or other cryptocurrency investments, you should take into account factors such as your current financial situation, risk tolerance, investment experience, and investment objectives. The price of Bitcoin or other cryptocurrencies can fluctuate greatly, and you may not accrue the amount that you initially invested. Only you are responsible for your investment and financial decisions. Consult an independent financial advisor before making an investment into Bitcoin or any other cryptocurrency. All information on this page related to price, market cap, and supply data, are obtained from third party sources. They are presented for informational purposes only, with no warranty of any sort. MoonPay is not responsible for the accuracy and reliability of any third party data source and its contents.

Corey Barchat
Written byCorey Barchat