
How to buy Bitcoin & other cryptocurrencies. types of wallets, wallet backups Think of your private key as your home key, if you give it to someone else, he will. Buy bitcoin. Open Coinbase and tap "Buy" on the bottom of the screen. Enter any dollar amount you want and then you'll see how much bitcoin that actually gets you. Tap "Buy" again in the right corner. Beware: in some cases you may receive a fraud alert from your bank, which you'll need to clear up. Essentially, from FinCEN's point of view, anyone mining bitcoin and selling it for US dollars, or any other legal tender, is a money transmitter and required to.