2. Buying Crypto With Dollars
💳

2. Buying Crypto With Dollars

2️⃣
Buying crypto with fiat (dollars) (Takes 10 Minutes)
⚡
Note that some exchanges enforce a 3-5 day limit on new accounts regarding how much you can withdraw (send) out. This usually goes away.

Let's buy some crypto!

A bank is useless without any money inside it, and so is our wallet!

Without funds in our wallet, the only thing we can really do is receive crypto.

To get into the decentralized finance universe, we need to first go through a centralized exchange.

image
image

Where To Buy Crypto:

  1. Coinbase (recommended)
  2. Binance (Binance.us for americans)
  3. Crypto.com
  4. Kraken
💡
TIP: Check if your exchange of choice supports MATIC / Arbitrum withdrawals - these networks are cheap to transact on / use!

How To Send Crypto:

On CoinBase, each coin has a different wallet.

  1. Connect a bank account to CoinBase
  2. Buy ETH or MATIC
  3. Go to your Ethereum wallet
  4. Tap "Send" / arrow icon top right
  5. Paste in your MetaMask wallet address.
  6. Choose which network to send to.
  7. Confirm & send.

MetaMask Wallet Address

⚡
You have the same ‘0x..’ public wallet address for most chains (excluding Solana)

Just like sending a letter or an email, we need an address to send our Crypto to.

  1. Open up your MetaMask browser extension.
  2. Click "Account 1" to copy your address to clipboard.
  3. Paste that into a the exchange you are sending money out of (i.e Coinbase) as the DESTINATION address.
image
image

...Now we're loaded up, and can start playing in the DeFi playground!

image

Made with 💜 - by @thekriskay - share with a friend to help DeFi grow.

Lets Do DeFi ™ is a free DeFi educational resource and guide aimed to explain complicated crypto stuff to everyday folks.

© DeFi Donut 2021 - © Lets Do DeFi 2021 |