How to Purchase Crypto from an Exchange
A Guide from Crypto Witch Club
This is Part 1 of The Crypto Witch Club Card Minting 101 Series — How to purchase crypto from an exchange.
The Crypto Witch Club Card is the first NFT project from Crypto Witch Club — think of it as your passport to all things web3. As you participate in the Crypto Witch Club community, you’ll have the chance to claim limited-edition stickers to deck out your Club Card. Holders will also get first dibs on merch, future NFT drops, exclusive events, voting rights, AND be dropped every seasonal issue of our upcoming, onchain, web3 zine for as long as you hold the card. Read the roadmap here.
How to Purchase Crypto from an Exchange: In part 1 of this series, we will purchase MATIC — which will be used to cover the cost of the Club Card and the gas fee to receive the card to your wallet. Here’s how to purchase MATIC from an exchange.
Step 1: We’ll be using Coinbase in this example, but you can also use Gemini, or (if you’re not based in the US) another centralized cryptocurrency exchange that’s available in your country and offers MATIC.
Step 2: Download the Coinbase app on your phone or sign up for an account at https://coinbase.com. Expect to answer some basic banking and ID verification questions before you’re able to begin purchasing coins and tokens.
Step 3: The Crypto Witch Club Card is 120 MATIC. Ensure you purchase slightly more than 120 MATIC as you will have to pay a small gas fee and transfer fee to move your crypto from the exchange to your wallet and then purchase the Club Card. (We recommend 125 MATIC.) You can check current Polygon Network gas fees here.
Crypto Witch Club chose to use Polygon as a network for The Crypto Witch Club Card as it offers extremely low gas fees, compared with networks like Ethereum.
Step 4: To purchase MATIC on Coinbase, select ‘Polygon’ from the home screen and tap the ‘Trade’ button. Select ‘Buy MATIC and select how much MATIC you would like to purchase. Once complete, tap the ‘Preview Buy’ button. You will be taken to an order preview screen that confirms your payment method on file, purchase amount, Coinbase fee, and total. If it’s correct, tap the ‘Buy now’ button to complete the transaction.
Step 5: Congrats! You’ve purchased your first crypto! If you’re a new user or your ID hasn’t been verified by Coinbase yet, you may have to wait between 1–3 days to remove your funds from Coinbase and transfer to a wallet.
Next: Learn how to transfer your cryptocurrency to a software wallet.
