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  Bitcoin How-To


If you have absolutely no idea on what’s Bitcoin is, this page explains it pretty well in simple terms. If that’s too much to read, check this quick FAQ instead.

There are several services that allow you to buy/sell bitcoins and most of them also come with a wallet that works the same way as a Paypal account. This site lists some of the most popular. For the purpose of this guide we’ll be using the reliable, trustworthy and easy to use Coinbase.com.

Note that Circle.com might be a better choice for you specially if you’re a US or EU resident. Coinbase credit card fees seem to be higher (at 3.99%) so if you want to try Circle better the entire procedure is very alike to the one listed here for Coinbase. The reason this guide is for Coinbase instead is because I didn’t know about Circle at the time. Check this website for a comparison on BTC prices based on payment type for several different websites. Localbitcoins.com might also be a good choice for more advanced users looking for the best price possible.

 

COINBASE HOW-TO

Head over to the sign up page and enter your details:

 

Next just do your typical email confirmation process and log in to Coinbase. You’ll now have to confirm your mobile phone, just enter your number and submit the code you received through SMS.

Now you have to verify your identity. Don’t worry though, the KYC (Know Your Costumer) is just a procedure required by law so these companies remain compliant in their respective jurisdictions. It helps prevent money laundering schemes or card theft. Your transactions will be anonymous and Scnlog.eu won’t know your identity nor will Coinbase.com know what you are paying for. It will also allow you to have a 100% functional wallet for the future. Just upload your ID card or driver license and you are set. For me it took just a couple of hours for my verification to be over.

 

Now that you’re verified, all you have to do is add your credit card or bank account. On your dashboard click on Settings > Payment Methods and click on + Add Payment Method.

 

Choose the method you want. Credit/Debit card is instantaneous while bank account can take up to 5 days to process but has no fees. Let’s choose credit card for now.

 

After you added your credit card, click on the Buy/Sell menu on the left, choose currency Bitcoin and the card you just added and enter the amount. Let’s say you want the 1-Month subscription here on Scnlog.eu, enter the amount of 5 EUR (to accommodate for any transaction fee) and press on Buy.

 

And that’s it, you now have the equivalent of ~5 EUR of bitcoins in your wallet. Go over to the Accounts menu and you can see you have different wallets based on currency, the one with the bitcoins should be the one named My Wallet (which you can rename).

To send bitcoins just go to Send/Request and everything is self-explanatory. When you are going through the Scnlog.eu checkout process and you reach the part where you have to send the bitcoins, just enter the details given into your Coinbase payment page. See this image if you have any doubts:

 

You have to send the exact amount for your transaction to be recognized.

After you press on Send Funds the payment should be over in a matter of seconds and you’re pretty much done.


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