Buying your first bitcoin with Invity

Whether upping your finance game is one of your New Year's resolutions or just part of moving forward in life, now is as good a time as any to start investing in bitcoin. Invity is the super simple app created specifically for newcomers to the crypto space, and this article walks you through how easy it is to use for first-time or recurring bitcoin buys.

Key takeaways

• Getting started with Invity involves just 3 steps: creating an account, verifying your identity, and choosing how much bitcoin you want to buy.
• You can choose to make a one-time buy or set up periodic purchases.
• As with any financial decision, keep your information and personal security in mind when dealing with bitcoin.

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Buying your first bitcoin

Once you download the Invity app from the Apple App Store or Google Play, it really is as easy as 1-2-3 to make some bitcoin your own.

Step 1: Set up an account

This should be familiar to anyone who uses email or shops online. Simply set up an Invity account using your Google account or an email and password combination. This will be your key to your bitcoin holdings and purchase history, so keep your login info accessible to you but secret from others.

Pro tip: If you use an email and password combination, consider generating and saving a new, unique password using a trusted password manager.

Step 2: Verify your identity

This step is also known as "know your customer" or KYC. It's not only a legal requirement for buying bitcoin reputably, it also helps keep you and the rest of the crypto space safe and trustworthy. We have a full article about KYC for more detailed info.

It's a simple process that should take just a few minutes. You'll first need to take a photo of an official ID document issued by a country in the European Economic Area (plus Switzerland).

Pro tip: Make this process go smoothly with good lighting and good contrast between the document and the background.

Second, you'll need to take a selfie to make sure you match your document. Say cheese!

Step 3: Buy your first bitcoin

Now comes the fun part. Select how much you would like to spend on bitcoin and your preferred payment method. Visa, MasterCard, and Maestro credit or debit cards are all accepted, as are Apple Pay and Google Pay. Simple!

Pro tip: The app helpfully suggests a few popular choices if you aren't sure how much you would like to buy the first time around.

After a short wait, your account will be updated to show how much bitcoin you now own. As you stack sats and as crypto markets move, the app will reflect what your bitcoin is worth in fiat currency (euros).

Setting up recurring buys

The Invity app is also designed to make it easy to implement one of the most popular bitcoin investing strategies: dollar-cost averaging, or DCA. You can read about the details of DCA in our articles here and here, but in short, it involves buying relatively modest amounts of bitcoin at regular intervals, say every week or every month.

Once you've set up your Invity account and verified yourself using steps 1 and 2 above, it's easy to set up automated DCA too. Simply input your payment method as in step 3 above, choose how much you want to buy and when. This will set up a standing order with your desired payment method. In this way, every Friday or every first of the month you'll have another stack of bitcoin waiting within your Invity account.

So that's how easy it is to get started with Invity. If this inspires you to get started, downloading the app is just a click or tap away!