Bitcoin

How to Buy, Trade or Convert Bitcoin

This guide will provide you with a comprehensive overview of how to buy, trade, or convert Bitcoin on OpenSea

Bitcoin price (USD)

$ 95,421 -2.78%

What you'll learn

  • Step-by-step instructions on how to buy Bitcoin
  • An overview of different methods to buy Bitcoin
  • Simple guides to help you figure out how to buy BTC

How to Buy Crypto on OpenSea

There are a variety of factors that come into play, such as location and protocol, that impact whether an asset is available on OpenSea's centralized exchange. For a video guide, visit our help center. If you're looking to buy a crypto asset that is available on our centralized exchange, here's a step-by-step guide:

Step-by-step Instructions

1.

Create an OpenSea account

Sign up for Coinbase or download the OpenSea app and start the sign up process. You will need a valid ID and may be asked for proof of address in order to transact, so be sure to have those ready. Verifying your ID may take longer than a few minutes, depending on where you live.

2.

Add a payment method

Tap on the payment method box and connect a payment method. You can use a bank account, debit card or initiate a wire.

3.

Start a trade

On opensea.com, select Buy & Sell. On the OpenSea mobile app, tap the ( + ) Buy on the Home tab.

4.

Select the crypto you're looking to buy from the list of assets

On opensea.com, click the Buy panel to search and select your crypto of choice. On the OpenSea mobile app, search for your crypto of choice by typing the asset's name into the search bar. When you see the crypto asset you're looking for appear in the results, tap it to open up the purchase screen.

5.

Enter the amount you want to buy

Use the number pad to input the amount you want to spend in your local currency. The app will automatically convert that into a crypto amount. You can tap the arrow buttons to the right of the amount of money you want to spend to switch the number to the equivalent amount of the crypto you're looking to buy.

6.

Finalize your purchase of your crypto asset

Tap "Preview buy" when ready. You'll be shown the details of your purchase. Make sure everything looks good and then confirm your purchase by clicking "Buy now".

7.

Done

Once the order processes, you'll be taken to the confirmation screen. That's it, you've bought crypto.

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Bitcoin

How to Custody Crypto using OpenSea Wallet

OpenSea Wallet is your key to the world of crypto, offering you one place to store all of your crypto and NFTs. OpenSea Wallet currently supports hundreds of thousands of tokens and apps. For assets available through OpenSea Wallet, here are detailed instructions on how you can custody a crypto asset or token.

Step-by-step Instructions

1.

Download OpenSea Wallet

OpenSea Wallet is available as a mobile app and browser extension. Download OpenSea Wallet.

2.

Choose a OpenSea Wallet username

As part of setting up your OpenSea Wallet, you will need to choose a username. This username lets other OpenSea Wallet users easily send you crypto. You can keep your username private, but you will need one to access the account. If you create a cb.id, you'll be able to easily share your cb.id username and view your profile on profile.opensea.com.

3.

Securely store your recovery phrase

When you create a new self-custody wallet, you'll be given a recovery phrase that consists of 12 random words. The recovery phrase is the key to your crypto, meaning anyone with your recovery phrase has access to your crypto. Do not share your recovery phrase with anyone. We strongly recommend writing these down on paper and storing them securely, as well as using OpenSea Wallet's cloud backup feature. Remember, do not share your recovery phrase with anyone. OpenSea will never ask you for your recovery phrase. And if you lose your recovery phrase, OpenSea cannot help you access your wallet.

4.

Understand and plan for Ethereum network fees

Fees vary based on how busy the network is, how complicated the transaction is, and how fast you'd like the transaction completed. Plan to set aside some money for fees. Learn more about Ethereum fees here.

5.

Buy and transfer ETH to OpenSea Wallet

If you don't have a OpenSea account, you'll need to create one to buy Ethereum (ETH). Learn more about how to create a OpenSea account and buy Ethereum (ETH) here. The way you transfer ETH to your OpenSea Wallet varies depending on whether you're using the mobile app or the Chrome extension. See detailed instructions here.

6.

Complete your trade

If you do not currently have any ETH in your primary OpenSea account, you will be prompted to "buy ETH with cash" or to "receive ETH from another wallet". If you already have ETH in your wallet, you will simply be asked to transfer ETH from your primary wallet to your newly created web3 wallet. On the 'Transfer Ethereum' page, enter the amount of ETH you wish to transfer to your web3 wallet and then select 'Preview transfer'. Once you've confirmed the details on the transfer preview page, select "Transfer now".

7.

Use your ETH to buy your token in the trade tab

Once you've added ETH to Coinbase Wallet, you can swap your ETH for your token in the mobile app or browser extension. Tap or click the "Swap" icon in the Assets tab, then select "Choose asset" and pick the token you're looking to buy. Input the amount of ETH you'd like to exchange for that crypto asset. Remember to leave enough for transaction fees. Confirm your purchase and follow the instructions on the screen to finalize.

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Stake Crypto Assets


Staking assets

Crypto assets that are currently available to earn rewards through staking on OpenSea.

Frequently Asked Questions


What is cryptocurrency?

Cryptocurrency is a digital or virtual currency secured by cryptography, making it nearly impossible to counterfeit. Many cryptocurrencies are decentralized networks based on blockchain technology.

Is cryptocurrency safe?

Cryptocurrency can be safe when proper security measures are taken. Use reputable exchanges, enable two-factor authentication, store assets in secure wallets, and never share your private keys or recovery phrases.

How do I start buying crypto?

To start buying crypto, create an account on OpenSea, verify your identity, add a payment method like a bank account or debit card, and then you can start purchasing cryptocurrencies.

What are gas fees?

Gas fees are transaction fees paid to network validators for processing and validating transactions on the blockchain. These fees vary based on network congestion and transaction complexity.

What's the difference between a wallet and an exchange?

An exchange is a platform where you buy, sell, and trade cryptocurrencies. A wallet is where you store your crypto assets. Exchanges provide custodial wallets, but you can also use self-custody wallets for greater control.

Can I lose my cryptocurrency?

Yes, you can lose access to your cryptocurrency if you lose your private keys or recovery phrase, send crypto to the wrong address, or fall victim to scams. Always double-check addresses and keep your recovery information secure.