Introduction: If you are a Newbie – Buying Crypto from Zero

As cryptocurrencies gain increasing popularity each day, the desire to purchase them grows among many individuals. If you find yourself among those eager to dive into the world of cryptocurrency but feel lost on where to begin, fret not.

This blog serves as a comprehensive guide tailored for newcomers with no prior experience in buying crypto.

Within this blog, you'll find straightforward explanations detailing the step-by-step process from registration to purchasing and cashing out cryptocurrency. Whether you're a complete novice or simply seeking to enhance your understanding, you've arrived at the perfect destination to unravel the complexities of cryptocurrency.

Step I – Registration

To access cryptocurrency-related services such as buying, selling, exchanging, and cashing out crypto, registering with Cryptal is essential.

The registration process is straightforward and involves choosing between two account types: Personal and Business. Opting for a personal account is ideal if you're seeking cryptocurrency services for individual use, tailored specifically to meet your needs.

• Click Sign Up
• Choose Personal
• Enter E-mail, Password, and Mobile Number
• Agree on Terms of Use
• Click Register

Upon registration, a one-time verification code will be dispatched to the email address you provided. Upon entering this code on the platform, you will gain access to your account.

Step 2 – Verification

To ensure the safety of your assets, whether they are cryptocurrency or fiat currency, Verification is mandatory. This involves confirming your identity by uploading identity documents such as an ID Card or Passport to the platform.

Following registration, you will be directed to the Verification page automatically. By clicking on the designated button, you will proceed to select your country of residence, initiating the verification process. Then follow:

• Choose the Country of residence
• Choose the Document – ID Card or Passport
• Take a photo of the Front and Back sides
• Take a Selfie
• Fill out the Form
• Wait for the Verification

Verification typically requires approximately 3 to 5 minutes to complete. Upon a successful verification, you'll gain immediate access to Cryptal services. However, if the verification result is negative, the platform will provide specific reasons for the outcome, allowing you to rectify any issues and attempt the process again.

Step III – Add a Bank Card

To purchase cryptocurrency, you'll need traditional national currency, known as fiat money. To top up your balance on Cryptal, you'll need to link your cards to your account.

Cryptal supports Visa and Mastercard cards issued by the Bank of Georgia and TBC Bank.

To add a card to your account, navigate to the Wallet section in the navigation header. There, you will be able to see all the assets owned by you be it Crypto or Fiat:

• Click on Wallet
• Choose TOGEL
• Choose Top Up
• Choose By Card
• Click Add a New Card
• Choose the Bank and Agree on Terms
• You will be redirected to the Bank’s Page
• Indicate Card Number, Validity Period and CVV
• Click PAY NOW

Your card will undergo verification, ensuring its authenticity within a few minutes. Following verification, you'll have the convenience of instantly transferring Georgian Lari (GEL), US Dollar (USD), or Euro (EUR) to your Cryptal account at any time of the day or night.

Step IV – Top-up Balance

As previously mentioned, having fiat currency is crucial for seamless cryptocurrency purchases. Besides bank cards, another option to fund your Cryptal account is through bank transfers.

Each method offers its advantages. With Visa and MasterCard cards, you can top-up up to 5,000 GEL within a 24-hour period. In contrast, bank transfers come with no such limitations, offering greater flexibility in funding your account.

To Top Up the balance via Bank Cards:

• Click on Wallet
• Choose Fiat – TOGEL (GEL), TOUSD (USD) and TOEUR (EURO)
• Click Top Up
• Choose By Card
• Choose a Bank
• Choose the desired Card
• Indicate the Amount
• Click Top Up

To Top Up the balance via Wire Transfer:

• Click on Wallet
• Choose Fiat – TOGEL (GEL), TOUSD (USD) and TOEUR (EURO)
• Click Top Up
• Choose Local Bank Transfer
• Choose a Bank – Bank of Georgia & TBC Bank
• Open Online or Mobile Bank
• Copy the IBAN indicated on Cryptal and Paste it into Mobile Bank
• Indicate the Description
• Transfer the Money

*Please note that various Fees apply to the platform, including the fees for topping up the balance:

Visa and Mastercard – 3%

Wire Transfer – Free

Step V – Crypto Wallet

A crypto wallet serves as a secure repository for storing various cryptocurrencies, including Bitcoin, Ethereum, or any other digital asset. Depositing assets into the wallet and holding them for any duration is entirely free of charge.

Each cryptocurrency has its dedicated wallet. For instance, storing Bitcoin requires a Bitcoin wallet, while Litecoin necessitates a Litecoin wallet.

Similar to traditional currencies, holding specific fiat currencies also requires designated accounts. For instance, to store Georgian Lari (GEL), you'd require a GEL account, and for US Dollars, a Dollar account would be necessary.

• Click on Wallet
• Choose the Cryptocurrency you want to Generate an Address for
• Click Generate

That’s it, you have your first Crypto Wallet

Step VI – Buying Cryptocurrency

Once your balance is funded, you can proceed to buy cryptocurrency on Cryptal, with two straightforward methods available: Convert and Spot Trade.

Convert

This feature offers the quickest and simplest way to purchase cryptocurrency. Convert is specifically designed for users who are new to the industry and wish to buy a digital asset without any prior experience.

If you're a first-time buyer of cryptocurrency, Convert is the ideal option tailored just for you.

• Enter Cryptal
• Click Buy Crypto
• Indicate Desired Cryptocurrency and TOUSD (USD)
• Enter the Amount
• Click Buy

What are the Benefits of Convert?

• It’s Simple – You can buy Crypto with just a few Clicks, without any experience
• It’s Fast – Cryptocurrency will be allocated in your Wallet in seconds

Spot Trade

An exchange serves as a centralized platform where individuals looking to buy and sell cryptocurrencies converge. Here, you can place an order indicating your desire to purchase cryptocurrency, specifying the quantity of digital assets you wish to receive and the amount you're willing to pay in return.

Once a seller willing to exchange cryptocurrency for the specified amount appears, the transaction will be executed, completing the deal.

Spot exchange, on the other hand, caters to relatively experienced traders. For more detailed information, feel free to explore our blog.

Step VII – Crypto Withdrawal

When you're ready to sell your cryptocurrency and withdraw the funds, you can utilize the same methods used for depositing money into your Cryptal account: Bank Cards and Wire Transfer.

To begin, you'll need to sell the digital currencies stored in your crypto wallet, exchanging them for Georgian Lari (GEL) or TOGEL. Just like when purchasing crypto, you'll navigate to the Convert or Spot Trade page, sell your assets, and subsequently, the corresponding fiat currency will be credited to your account in place of cryptocurrency.

For Withdrawing Crypto:

• Enter Wallet
• Click Fiat you just Exchanged Crypto into
• Choose Withdrawal
• Choose the Method – Card or Wire Transfer

Withdrawing Money via Bank Card:

• Choose the Bank – TBC or BOG
• Choose the Card
• Indicate the Amount of Fiat
• Click Withdraw

*Withdrawals to your card are only available in Georgian Lari (TOGEL). For other fiat currencies such as US Dollars (TOUSD) and Euros (TOEUR), a bank transfer is the recommended method.

*When cashing out with bank cards, a commission fee of 1.2 GEL applies

Withdrawing via Wire Transfer:

• Choose Local Bank Transfer
• Enter Personal Information – First and Last Name
• Choose Bank Details or Create a New Template
• Enter – Bank Number and Fiat Amount
• Click Withdraw

The withdrawn amount will be deposited into your bank account within a few seconds. However, it's important to note that bank transfers initiated outside of regular working hours and days may take up to 1 business day to reflect in your account. Transactions conducted during regular operating hours are processed instantly.