Before you start
Decide an amount you can afford to lose entirely. $100 is plenty for a first purchase. The goal isn't to time the market — it's to learn the workflow so you can buy with confidence at any size later.
Where to buy
For your first purchase, use a centralised exchange. They're regulated, beginner-friendly, and accept normal bank transfers and cards.
| Exchange | Best for | Typical fee | Notes |
|---|---|---|---|
| Coinbase | US, EU, UK | ~1.5% | Easiest UX. Higher fees on small buys. |
| Kraken | Global (190+ countries) | ~0.4% | Lower fees on Kraken Pro. Strong security record. |
| Bitstamp | EU-friendly | ~0.4% | Oldest active exchange. Good SEPA support. |
| Strike | US, EU, AF, LATAM | 0% | Lightning-native; cheapest if you withdraw via Lightning. |
| Cash App | US, UK | ~1.75% | Mobile-only. Make sure withdrawal is enabled. |
Avoid PayPal and certain Robinhood tiers for your first buy — they technically hold BTC you can't withdraw, which defeats the entire point.
Which payment method to use
| Method | All-in fee | Speed | Best for |
|---|---|---|---|
| Bank transfer (ACH/SEPA) Cheapest | 0.5–1% | Instant (SEPA/FedNow) – 3 days (ACH) | DCA and larger buys |
| Debit card | 2.5–3.5% | Instant | First-time buys |
| Apple Pay / Google Pay | 2.5–3.5% | Instant | Frictionless, biometric |
| Credit card | 3.5–5% + cash-advance fees | Instant | Avoid for most |
| Wire transfer | $10–25 flat | 1–2 days | Large amounts ($10k+) |
| Cash (BTM) | 8–15% | Minutes | Privacy, in person |
For most beginners: bank transfer for a regular DCA, debit card for a one-off first buy you want done in the next 60 seconds.
The six steps
- 1
Install Lightning Pay (free)
Download for macOS, Windows, or Linux. Create a wallet and write down your 12-word recovery phrase on paper. - 2
Sign up at the exchange
Verify email, phone, and ID. KYC is legally required everywhere except a tiny handful of P2P platforms. - 3
Link your payment method
ACH/SEPA bank link via Plaid is cheapest. Debit card is fastest. Credit card is usually a trap (4%+ fees, cash-advance penalties). - 4
Place a buy order
Choose the amount in USD/EUR/your currency. The exchange quotes BTC at the current price including spread. Confirm. - 5
Withdraw to your Lightning Pay address
This is the step beginners skip. Don't. Copy the receive address from Lightning Pay, paste into the exchange's withdraw form, and confirm. Use Lightning if the exchange supports it for sub-cent fees. - 6
Confirm it arrived
Lightning is instant. On-chain takes 10–60 minutes (one block confirmation is plenty for retail-sized buys).
What it actually costs
A typical $500 first purchase, end-to-end:
- Exchange spread + fee
- ~$5 on Coinbase (1%), ~$2 on Kraken Pro (0.4%)
- Payment processing
- $0 (bank transfer) to ~$15 (3% card)
- Withdrawal to wallet (on-chain)
- $1–$5 depending on mempool
- Withdrawal to wallet (Lightning)
- Under 1 cent
- Lightning Pay wallet
- $0 — free, open source
Bigger buys scale almost flat: a $50,000 wire-funded purchase on Kraken costs roughly $225 (0.4% spread + $25 wire) — proportionally far cheaper than a $500 card buy.
Buying Bitcoin safely — the four rules
Withdraw immediately
Back up your seed offline
Bookmark the exchange URL
Reject DMs and 'support'
What to do after your first buy
Now that you own real Bitcoin in self-custody, the next moves compound:
- Turn on Auto-DCA in Lightning Pay for a weekly buy.
- Send a test payment over Lightning to a friend — feel the speed.
- Order the free Bitcoin Visa card if you want to spend at every merchant on Earth.
- Move long-term savings to a hardware wallet once you cross ~$10k.
The exchange isn't your wallet
How-to-buy FAQ
Ready to own your Bitcoin?
Lightning Pay is free, open source, and non-custodial. Your keys never leave your device.