There are several ways to get Bitcoin nowadays. Of course, the simplest way is to register on a reputable cryptocurrency exchange, where you can buy for as little as 20 euros (approximately 7,500 forints). For example, we have chosen Kraken.

Registration Step by Step on Kraken

The registration takes approximately 7-10 minutes and you will need some personal documents. We used a passport and a bank statement downloaded to mobile for verification.
    1. If you have downloaded the mobile app – Android, iOS – click on the “Create account” button.
    1. Enter your email address, then create a unique username (at least five characters).
    1. Then create a strong password, following the requirements marked in the app.
    1. In the next step, the app will recognize your country of residence, then you just need to accept the Terms of Use, as well as the service and privacy policies, and click on the “Create account” button to continue.
    1. You will receive an email in which you need to activate your account. Click on the account activation button, or enter the given activation code in the Kraken app.
    1. Your account is now active, but not yet verified. To verify, click on the “Next” button and enter your mobile phone number, first and last name, enter your date of birth. Enter your address, then in the next step, you need to select the industry in which you work (no need to worry if you are a student or unemployed, you can still create an account).
    1. Prepare one of your identification documents – say your passport – and allow taking a picture. Place the ID in the frame and take a photo. Make sure it is readable and not blurred. If you are satisfied with the photo, upload it.
    1. The next step is to verify your residence. For this, you can choose your bank statement. Take a photo of the document, again make sure it is readable and not blurred. Note that the full address must be the same as the one you provided during registration. If you are satisfied with the image, click to upload.
    1. Finally, Kraken processes the provided data. If everything is in order, you will receive an email in a few minutes stating that your account is now verified, and you are ready to buy some Bitcoin.

Purchase

You can start buying Bitcoin after depositing money into your account via traditional bank transfer or linking it to your bank card. I chose the bank card solution and linked my Kraken account to my Revolut card. Then I bought BTC for 20 euros. If you log in from a desktop, adding a payment method (“Payment method”) is done by clicking on the profile icon in the top right, selecting “Payment method” from the dropdown menu. Then adding the payment method (“Add payment method”) is child’s play. Select the recommended method – which is bank card payment – click and you can enter your bank card details. Watch it in the video:
IMPORTANT!! If you are opening your Kraken account now, the assets in your account cannot be used for 72 hours from the first purchase. Please take this into account when registering. In the following video, you can see how to set up the bank card payment method and the process of buying Bitcoin through the Kraken mobile app:

Peer-to-Peer Exchange

Of course, the above is not the only way to buy Bitcoin. For example, it’s worth trying Paxful, one advantage is that their website is also available in Hungarian. They promise that you can buy at the lowest possible price, and the platform operates on the peer-to-peer financing principle. However, customer verification must also be completed there for Bitcoin purchases. For entrepreneurial and advanced users, we also recommend platforms like Peach Bitcoin, or HodlHodl.

Finally

Always strive for the security of your financial and personal data! Before purchasing, always make sure that you have entered the correct data and are executing the transaction you intended.