how to buy bitcoin

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How to buy Bitcoin – The Beginner’s Guide

TO BUY BITCOIN is to invest in a digital payment system. Bitcoins are bought online from Bitcoin exchanges. It is easy to buy bitcoins from Finnish service providers.

To buy bitcoins, you need a verified account in an exchange with fiat currency deposited in it. After buying bitcoins, it is important to store your coins safely. Buying Bitcoin is easy and safe even for a beginner, as long as you follow the instructions carefully.

Buying Bitcoin is an investment in a digital payment system

To buy Bitcoin is to invest in a digital payment system. Buying Bitcoin is an investment in digital currency that has never been seen before in human history.

Bitcoin is considered by many to be one of the most important inventions of the millennium. In 2008, Satoshi Nakamoto succeeded in creating the first decentralized digital money, which is completely outside the traditional banking system. We have written a comprehensive article on the history of Bitcoin for those interested in the subject.

Nakamoto’s invention has many exceptional features. For the first time, ordinary people have the opportunity to beat the investment gurus of Wall Street and buy a piece of technology before the professionals. The Walle Street sharks don’t have their usual edge this time. Bitcoin is an equal opportunity for everyone.

bitcoin wall street

If you are interested in buying Bitcoin, you have come to the right place. This article goes through all the steps of the process and what you have to do after the purchase. This article will give you all the information you need.

We also recommend reading our article on Bitcoin investing. In it, we go through Bitcoin investing and its potential pitfalls in a little more detail. This article is a more straightforward guide to the purchase for people who have made the investment decision already.

We recommend familiarizing yourself with the Bitcoin-related material on the site before purchasing Bitcoin. Buy bitcoin first with small amounts first, learn about the technology, and practice making transactions. The more you learn about Bitcoin, the more conviction you’ll have about your purchases.

Where to buy bitcoins?

Bitcoins are bought online from Bitcoin exchanges. There are hundreds of different Bitcoin trading platforms in the world. In addition to global operators, each country has its local operators.

First of all, it is good to understand that Bitcoin is a completely digital currency. All transactions take place in the blockchain, which is the database of Bitcoin. Bitcoins cannot be printed on paper or as physical coins. Bitcoin exists only in digital format.

The Bitcoin purchase process starts with the selection of the exchange. We have listed the most popular, well-known, and reliable Bitcoin exchanges on this page. Each exchange has also other popular cryptocurrencies in its selection.

Below is an image from the Binance home page. It is the most popular Bitcoin exchange on the market.

buy bitcoin from binance

What is the right Bitcoin exchange for you? It is good a good idea for a beginner to start with the domestic options. We will go through them in more detail in the next chapters. In addition to the Finnish language, the advantage of a Finnish marketplace is the security brought by the regulation (Financial Supervision).

Of course, you can also buy bitcoins from global exchanges. Their advantage is lower costs, which means you get a little more bitcoins for every euro or dollar you spend. You might have to use the English language, but this is not a problem for most young people.

Click the Reviews link in the main menu. There you can find detailed reviews of the most popular Bitcoin exchanges.

Finally, a word of caution. There are a lot of scams on the market. You may receive messages via e.g. Facebook or other social channels, where you are tempted to deposit money. Never deposit money into any service at the request of others!

How to buy Bitcoin in Finland

It is easy to buy bitcoins from Finnish service providers. A Finnish Bitcoin exchange is a safe, reliable, and easy-to-use option. There are currently two popular Bitcoin exchanges in Finland: Coinmotion and Northcrypto. Both are supervised and approved by the Finnish Financial Supervisory Authority.

Buying Bitcoin in Finland is therefore easy. You can open an account in minutes and identify yourself with the bank IDs. In foreign exchanges, the KYC process is often slower and requires e.g. sending a photo of the passport.

It is important for beginners to be able to use the Finnish language. In the Bitcoin world, you will encounter a lot of new terminologies, which are not necessarily familiar. Transactions, fees, networks, and other topics can feel difficult at first. It is nice to talk to a Finnish customer service representative in such situations.

The user interface of Coinmotion and Northcrypto is also in Finnish. Below is a picture of Coinmotion’s homepage.


Buying Bitcoin in Finland is also safe, as the Financial Supervisory Authority has set strict regulations for the services. Finnish Bitcoin trading places must also keep the customer funds separate from the company’s own funds. This way, your bitcoins are also safe in the event of bankruptcy.

It is also possible to buy bitcoins from a Bitcoin ATM in Finland. This is called Bittimaatti. You can enter cash into the machine and get bitcoins into your account. You need a Coinmotion account to use the service. You must also have a Bitcoin wallet and a Bitcoin address before purchasing.

You can find the exact locations of the machines on the Bittimaatti website. It is also possible to sell bitcoins through them.

How to buy bitcoins?

To buy bitcoins, you need a verified account in an exchange with fiat currency deposited in it. The term fiat currency refers to EUR, USD, GBP, and other popular national currencies.

How to buy bitcoins in practice? Make a deposit first. All the most popular exchanges support SEPA bank transfers and debit card deposits. Before making a deposit, find out what the fees are, as there can be significant differences between deposit methods.

It is even possible to make real-time bank deposits for Finnish services. This means you can go Bitcoin shopping very quickly!

After the deposit, you just go to the purchase page and exchange your fiat money for bitcoins. That’s all! FYI for beginners; you don’t need to buy the whole bitcoin. You can buy fractions of a Bitcoin as well. Bitcoin exchanges often have a minimum buy for purchases, but it’s usually around 10 dollars or 10 euros.

The image below shows a purchase form from Northcrypto.

buy bitcoin northcrypto

Is buying Bitcoin difficult? No, it is not. If you know how to use an online bank, you can also use Bitcoin exchanges. They are that simple. Let’s repeat the process step by step.

This is how you buy Bitcoins:

  1. Choose your preferred Bitcoin exchange
  2. Open an account and confirm your identity
  3. Make a deposit with a debit card or bank transfer
  4. Buy bitcoins
  5. Store your coins safely

As you can see, buying bitcoins is an easy and straightforward process. Why is Bitcoin then considered by many to be a difficult or even mysterious investment? This is because that person has not been introduced to Bitcoin.

Buying Bitcoin is not difficult. Instead, holding on to Bitcoin during wild volatility and understanding Bitcoin takes time. We recommend making purchases with small amounts first. Learn how to use and understand Bitcoin before you buy large amounts of it. We have plenty of Bitcoin resources to help you with.

Take care of safe storage

After buying bitcoins, it is important to store your coins safely. Bitcoins can also be stored in the exchange you bought them from, but this is not recommended. We urge every Bitcoin buyer to learn how to use their own wallet.

One of the most important features of Bitcoin is the possibility to store it outside the traditional financial system. You have a genuine opportunity to manage your own funds digitally without anyone stopping you. This freedom should not be given away easily.

It is completely understandable that a first-time buyer might feel uncomfortable about making Bitcoin transactions. If you make your purchases at Finnish exchanges, you can sleep peacefully at night. Your coins are safe. We still recommend that you being the process of learning about wallets and how to transfer bitcoins.

You can find our guide on using the popular Trust Wallet mobile wallet here: Trust Wallet guide.

trust wallet

Exodus and Coinomi are also popular options. Using Bitcoin wallets is no more difficult than using an online bank. The biggest difference comes from the so-called backup codes, i.e. recovery keys. This means a list of 12 or 24 words that are generated when the wallet is created.

With these words, you can restore your wallet to another device if, for example, your phone breaks. The downside of this feature is also the risk; if someone gets hold of your recovery code, they can drain your wallet balance.

This means that with freedom comes responsibility. Buying Bitcoin is the first step, the safe storage is step two. Everyone has to choose which form of storage is best for them. We have a comprehensive guide to different Bitcoin wallets and their advantages: check out the different Bitcoin wallets here.

How to Buy Bitcoin – The Summary

Buying Bitcoin is easy and safe even for a beginner, as long as you follow the instructions carefully. This article serves as a good guideline for someone considering their first Bitcoin purchase. You can also always contact us if you have more questions.

There are wild rumors about Bitcoin purchases on the internet. Many people know someone who lost a fortune in online scams. It’s good to understand that the world of Bitcoin is still quite a wild west compared to traditional investments. However, a smart investor can protect himself from risks in many different ways.

Here is a summary for beginners on how to buy Bitcoin:

  1. Take the time to understand Bitcoin. This website has plenty of good resources!
  2. Choose the Bitcoin exchange carefully. Read our guides and ask for help from experienced Bitcoin investors. If you are not sure, prefer local services.
  3. Buy bitcoins in small amounts first.
  4. Learn how to use a Bitcoin wallet, even if you keep your coins in an exchange.
  5. Follow the industry news.

Many stock investors check the balance of their portfolios once a year. We recommend at least once a month when it comes to Bitcoin. There’s so much happening in the Bitcoin industry that you shouldn’t be out of the picture for too long.

Our weekly news reports are excellent summaries for beginners. Remember to check the latest instructions from tax authorities every year to keep up with the tax regulations.