How to Get Started With Bitcoin.com in 2022 by@mkaufmann

How to Get Started With Bitcoin.com in 2022

Bitcoin has become increasingly easy to get started with over the years. It may seem overwhelming for new users but it's easy to buy with Bitcoin and other cryptocurrencies. Here we'll look at how you can get started buying Bitcoin and how to set up your account with a cryptocurrency exchange. You may be required to authenticate your identity before making a purchase, although this will depend on the platform you use and the amount you want to purchase. Exchanges, whilst usually safe, can sometimes be subject to hacking attempts or your own account could be hacked due to phishing.
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Matthew Kaufmann

Tech geek and Linux user 🐧

Bitcoin.com is a cryptocurrency exchange registered in Saint Kitts and Nevis. The exchange currently supports 19 cryptocurrencies including Bitcoin, Ethereum, Bitcoin Cash, XRP, Polkadot, and Compound. In addition to being quick and secure, the platform has dedicated 24/7 customer service. 

The platform also has its own decentralized exchange (DEX) called Verse which comes with its own utility token of the same name. This guide will show you how to use the platform and explain the VERSE token and its use cases.

How to use Bitcoin.com 

There are two ways that you can use Bitcoin.com to buy cryptocurrency, through its app and through the desktop website, we’ll go through both methods below:

How to buy cryptocurrency with the Bitcoin.com app

Users can buy cryptocurrency with the Bitcoin.com wallet app which is fully non-custodial, allowing users to own their private keys and maintain 100% control of their crypto holdings. To buy crypto with the Bitcoin.com wallet, users need to first download the app from the iOS App Store (for iOS devices/iPhones) or Google App store (for Android devices).

Next, you need to open the Bitcoin.com wallet app on your device. Once open, you have the choice of signing in or remaining anonymous, for this example we'll remain anonymous. The app will then create your wallet (which takes a few seconds) then you're ready to buy and store crypto.

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Once your wallet is ready, you'll see a list of crypto wallets with the "buy" option beneath it. For this example, we'll click on the "buy" button under the Bitcoin wallet. Next, choose the currency you want to use for purchasing the crypto as well as the amount of crypto you want to buy.

When you're ready, press "continue" and on the next page, you need to enter a BTC wallet address to receive the Bitcoin, by default the wallet section will be filled out with the built-in BTC wallet so tap "continue" to confirm the transaction. 

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On the next page enter your email and follow the verification instructions to confirm and complete your purchase. If it is your first purchase you will need to verify your identity and all future purchases will take only a few seconds to complete.

How to buy cryptocurrency with the Bitcoin.com website

Users can also buy cryptocurrency from the Bitcoin.com website using credit/debit cards as well as other payment methods such as Apple Pay (for iOS/Macintosh devices) and Google Pay (for Android & PC devices).

To do so you first need to sign up by clicking the "sign up" button in the top right corner or one of the social login buttons in the lower left side corners (continue with Apple/continue with Google).

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It's usually faster to continue with your Google or Apple account if you have one so for this example, I'll continue with Google. Once this step is done, you'll be registered instantly and taken to your dashboard. Next, click on "Buy/Sell" on the left side panel which will take you to a swap page. 

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Choose the amount you want to buy and click the buy button. The next steps are very similar to how it is on the mobile app:

  • Confirm the amount you want to buy (or sell) and click continue
  • Enter the wallet you want the crypto to be deposited in
  • Enter your email and follow the verification instructions
  • Enter your payment details and follow the instructions to complete the purchase

This is done via the swap page:

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Once the purchase is complete the crypto will be stored in your wallet!

The VERSE token

VERSE is a rewards and utility token that functions as a utility and rewards token distributed to users who contribute to and participate in the Bitcoin.com ecosystem. VERSE is quite similar to CRO, BNB, and FTT, which are the utility tokens and rewards tokens for the Crypto.com, Binance, and FTX ecosystems, respectively. 

The VERSE token will be launched via a token sale very soon.

The native tokens of Centralized Finance (CeFi) systems like Nexo and Celsius may be compared to VERSE, as can the native tokens of decentralized protocols such as Uniswap and TraderJoe.

The VERSE token has the following purposes:

  • Rewards - Users can earn VERSE by providing liquidity to the Verse DEX
  • Staking - VERSE can be staked via the PoS system to secure the Verse network.
  • Cash Back - Users can cash back on purchases, which is paid in VERSE.
  • Lending - Users can use VERSE as collateral in lending pools
  • Trade - VERSE can be used as a trading pair against tokens on the Verse DEX

VERSE is a cross-chain token built on the ERC-20 standard and is the native utility token for the Verse DEX.

Conclusion

Bitcoin.com is an exchange and wallet that enables users to buy and store cryptocurrency, the platform only has around 19 cryptocurrencies at the time of writing but it’s quick to get started with crypto and beginner friendly. I hope you found this guide helpful.

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