Transferring Bitcoin To An Exchange and Buying Your First Cryptocurrency

Lesson 15: Transferring Bitcoin To An Exchange and Buying Your First Cryptocurrency


In this lesson, I will teach you a very important skill in cryptocurrency: Transferring Bitcoin to a “Cryptocurrency Exchange and then buying your very first cryptocurrency.

The reason why you transfer Bitcoin to an Exchange is so that you can use it to buy any one of the many Altcoins on those Exchanges.

I will use Bittrex, one of the most popular Exchanges, in this lesson to transfer Bitcoin into.

The are many “Crypto Exchanges” but the process is the same.

NOTE: If you do not have a Bittrex account, go back and view Lesson 11: Setting Up Accounts On The Bittrex and Binance Exchanges

So here is the process:

(1) Ensure Bitcoin is in the GDAX Bitcoin Wallet (If you use Coinbase, I recommend you transfer the Bitcoin in your Coinbase Bitcoin Wallet to your GDAX Bitcoin Wallet first. That way you will not pay high transfer fees.

(2) Transfer the Bitcoin in your GDAX account to Bittrex.

The video below will cover some of the same information covered in the previous lessons. I wanted to present this video as a “full-process” lesson to show you everything from moving Bitcoin from Coinbase to GDAX and then from GDAX to Bittrex.

In this example, you will buy some Ripple (XPR).

The Next Lesson (Lesson 16): Buying Bitcoin From Within GDAX (Check your email tomorrow)