The crypto industry continues to grow at full speed, and with it, interest from everyday people is rising. According to the 2025 Cryptocurrency Adoption and Consumer Sentiment Report, 14% of non-owners say they plan to buy crypto this year, while 67% of current holders expect to buy even more.

Whether it’s the draw of decentralization or simple curiosity, more people explore what it means to own digital assets. 

But what does that first step actually look like? 

Buying cryptocurrency for the first time isn’t as complicated as it might seem. It mostly comes down to a few simple steps. And this article will explain each one clearly.

Step 1. Understanding What You Buy

Cryptocurrency runs on decentralized networks secured by cryptography, most often, blockchains. Bitcoin, the original cryptocurrency launched in 2009, still dominates the market with a market cap of over $2T as of May 2025.

But Bitcoin is just one part of the story. Ethereum, launched in 2015, accounts for about 9% of the total crypto market, thanks to its support for decentralized applications and smart contracts. Besides, there are thousands of altcoins, each designed with different goals: from powering blockchain games to supporting stable financial systems.

Knowing what a coin is designed to do helps determine what crypto asset to buy. 

Step 2. Finding a Cryptocurrency Exchange

After a user decides which crypto attracts more, the next step usually involves choosing a cryptocurrency exchange. They are the digital platforms where buyers and sellers meet, and the largest of them is Binance, which has over 250 million registered users globally as of January 2025.

Different platforms cater to different needs. For example, Coinbase is often praised for its ease of use and educational tools, while Kraken is known for its first-grade security and compliance. 

Fees, payment options, and the list of available coins are also to be considered while choosing the crypto exchange!

Step 3. Setting Up An Account

This step usually involves registration with an email and password, followed by identity verification. This process, known as KYC (Know Your Customer), is a regulatory requirement in most jurisdictions.

Once verified, users can link a bank account or debit card and fund their account. This process may take a few minutes or a couple of days, depending on the method and the exchange.

Step 4. Making The First Purchase

As of 2024, users in over 140 countries own crypto assets. Thanks to fractional ownership, one doesn’t need to spend thousands.

Transactions are often completed in seconds, and the purchased coins are deposited into the user’s wallet on the platform.

Step 5. Storing Cryptocurrency

After a purchase, coins are stored in a wallet. Exchanges offer custodial wallets by default, but individuals and businesses who seek more control often move their assets to non-custodial wallets: either hot (software-based) or cold (hardware-based). It’s possible to find a suitable solution here.

Security remains a pressing issue: according to the 2025 Crypto Crime Report, over $2.2 billion in crypto was lost to hacks and scams. That’s why many users opt for cold storage when holding larger amounts. Alternatively, they use hot wallets for daily crypto transactions.

Step 6. Exploring the Possibilities

Cryptocurrency is not just for investment. It’s used for global asset transfers, online commerce, and even personal savings. A growing number of companies, from Shopify merchants to private airlines, now accept crypto via tools like a cryptocurrency payment gateway to enable real-time, borderless transactions with lower fees. It helps companies save on transaction fees, while users unlock the feature to buy last-minute tickets, for example.

In fact, overall transaction volume rose by 29.6% in 2024, with 1.68 million crypto payments processed. Bitcoin, Ethereum, and Dogecoin remained the most commonly used currencies for purchases.

With hundreds of millions participating, regulated platforms evolving, and real-world applications multiplying, entering the crypto space no longer feels like a tech experiment. It’s like participating in a financial shift already underway.