This is how you can get started investing in cryptocurrency safely and easily
Our goal is to deliver the simplest and safest solution for people in Norway who want to invest in crypto. We want to make it as easy to buy and sell cryptocurrency as it is to invest in shares and mutual funds. The next 4 steps take you easily through how to invest in cryptocurrency.
You can also learn the basics of cryptocurrency with our guide: "Cryptocurrency for Dummies" which you can find here.
1. Register with Vipps!
The first step is to register with Vipps, which is very quick and easy. We get all the information we need from your profile at Vipps. This means that you neither need to fill in information yourself nor to verify your e-mail.
2. Verify your profile with BankID
Step two in our onboarding process is to fill in the “KYC-form”. We are required to do this in order to comply with the Anti Money-Laundering regulations. This is something all banks and other financial institutions must do. The form is easily signed with BankID.
3. Make a deposit or buy crypto with Vipps, ApplePay or bank card.
To be able to invest in cryptocurrency with Firi, you have two alternatives for how to pay.
- Alternative 1: Make a deposit in NOK to your Firi account. After you have made a deposit, you can easily use NOK to buy BTC via Firi. (Cheaper)
- Alternative 2: You can use one of our solutions for direct purchases such as Vipps, Bank card or ApplePay. (Faster)
How to deposit money on Firi
In Firi, there are two alternative ways to make a deposit. You can either make a deposit via Firi automatically by connecting to your online bank, or by transferring money manually to your account.
Regardless of whether you want to make a deposit manually or automatically, you must first navigate to the deposit page.
In the Firi app, you can find the deposit page under the Overview Tab, and by pressing Deposit money. If you use Firi via a browser, this can be found on the Main account tab where it says Deposits.
Alternative 1: Make a deposit automatically without going through your online bank.
- Tap Deposit money.
- Enter amount.
- Enter the bank you want to pay from in the search field.
- Give access to the account you want to pay from with BankID.
- Sign the payment with BankID.
Option 2: Make a manual transfer via your online bank.
- Press "Deposit money".
- Tap on the Manual Transfer.
- Use the designated account number and messages to make a manual deposit.
- Go to your online bank and transfer the amount you wish to deposit with Firi.
Processing of deposits usually takes 1-3 working days.
4. How to buy crypto at Firi
As we mentioned you have two methods for buying crypto at Firi. You can either buy crypto with the cash you deposited, or you can choose to buy crypto with bankcard, Vipps or ApplePay.
Furthermore, when you trade you will get the best available price of BTC at the time you trade (market order). However, if you wish, you can enter buy orders at specific prices in advanced trading. We will return to that later in the article. Advanced trading is only available via browser.
Buy crypto directly with Vipps, Apple Pay or bank card.
- Go to "Trade" and press "Buy Crypto".
- Select bitcoin from the list of cryptocurrencies.
- Enter the amount
- Select payment method "Direct purchase with Vipps", Apple Pay or "Direct purchase with card" from the menu.
- Make the payment at checkout to Vipps, Apple Pay or card payment.
- Sign, and voila, you have bought crypto..
Here you see an example of how to trade crypto with Vipps.
Buy cryptocurrency via "Trade" when you have made a deposit.
How to make a purchase via Trade:
- Log in to Firi and tap the "Trade" tab.
- Select the tab that says "Buy" or "Buy crypto".
- Choose the cryptocurrency you want to invest in.
- Enter the amount in NOK that you want to buy for.
- Press "Preview Purchase".
- Press "Confirm" to complete the transaction.
When you buy via "trade" you will get the best available price at the moment. If you want to place a buy order at a specific predetermined price you can do this in “advanced trading” . This is an option for those who are somewhat more experienced with trading and investing.
How to make a purchase via Advanced Trading:
Log in to Firi and tap Advanced Trading on the left side of the Firi dashboard. Lets use Bitcoin as an example here.
- Make sure the market you select in the top left corner is BTCNOK.
- Navigate to the box where it says "Buy BTC".
- Enter the amount of bitcoin you want to buy in the "Amount" field.
- Enter the price you want to pay per bitcoin in the "Price" field.
- Press "BUY BTC"
- When the price in the market matches the order you have placed, it will be automatically executed.
Then you're ready!
As a customer of Firi, you can safely and easily invest in a number of cryptocurrencies directly with Norwegian kroner. In addition, we are always looking for improvement opportunities to deliver the best possible service to our customers, which means that we are constantly introducing new services and markets. With already tens of thousands of satisfied customers and growing demand, you as a customer will be able to buy and sell cryptocurrency almost immediately with us at competitive prices. It is completely free to be a customer, and it only takes a few minutes to get started with Vipps and BankID!
Tips for getting started investing in crypto
Finally, we would recommend that you read and learn as much as possible about cryptocurrency, how blockchain technology works, and what opportunities exist. Those of us who have been interested in crypto for a while see that people like to come in because of the opportunities to get a good return on investment, but that they stay for the culture and innovation.