How to Buy Ethereum (ETH):
Verify that account. You will need to upload a variety of documents proving you are who you say you are. It's all regulatory stuff. Once you upload your documents, verification takes about a day or two (time is dependent on how busy the service is. During times of price increases and tons of new users, it may take longer. Be patient.)
Follow the instructions on the exchange to deposit USD or any fiat of your choice into that exchange. This, depending on your exchange and bank, can be instant take 3-5 business days.
Now you have USD in your exchange account and can buy ETH with it.
Once you have all the ETH you want, withdraw that ETH into a wallet that you control. Exchanges are notorious for being hacked (although the ones mentioned above are very reputable) and you want your funds in a place that you have the private key to. So...
This will generate a wallet with an address that starts with 0x.. This what you will enter on your exchange to move your ETH from their account to your own.
To safely keep your account you have 3 pieces of information:
- Your address (0x69af69.....)
- Your password
- Your private key or a set of 12 words known as a seed phrase or backup words
The private key is like a password, but way more intense. Plus, it's a password that is protected by another password. Never give your private key or seed phrases to anyone!
Take your time moving your funds from an exchange to your own wallet. Stop. Breath. There is no rush. Test with a small amount first. Get the feel for things and make mistakes with small amounts rather than all your money! If you skipped them earlier or didn't understand them, take the time to re-read it now.
Originally posted on StackExchange: https://ethereum.stackexchange.com/questions/1915/how-do-i-buy-ethereum-with-usd
and MyCrypto Knowledge Base: https://support.mycrypto.com/faq/how-to-buy-ethereum-with-usd.html