how to buy crypto with koho

Koho users can opt to store their acquired cryptocurrencies within the native Koho Crypto Wallet or securely withdraw them to an external wallet.

Jan 30, 2025 at 05:25 pm

Key Points:

• Koho is a Canadian digital banking platform that allows users to buy and manage cryptocurrencies.
• There are two ways to buy crypto on Koho: using the Koho Crypto App or through a third-party exchange.
• To use the Koho Crypto App, users must first set up a Koho account and verify their identity.
• The Koho Crypto App offers a limited selection of cryptocurrencies, including Bitcoin, Ethereum, and Litecoin.
• When buying crypto on Koho, users can choose to store their funds in the Koho Crypto App or withdraw them to an external wallet.

How to Buy Crypto with Koho

1. Set Up a Koho Account

To buy crypto on Koho, you must first set up a Koho account. You can do this by downloading the Koho app from the App Store or Google Play and following the on-screen instructions.

Once you have set up a Koho account, you will need to verify your identity. You can do this by providing your government-issued ID and a selfie.

2. Choose a Purchase Method

Once your Koho account is verified, you can choose a purchase method for buying crypto. There are two options:

• Koho Crypto App: The Koho Crypto App allows you to buy crypto directly from your Koho account. The app offers a limited selection of cryptocurrencies, including Bitcoin, Ethereum, and Litecoin.
• Third-Party Exchange: You can also buy crypto on Koho through a third-party exchange. This option gives you access to a wider selection of cryptocurrencies, but it may also incur additional fees.

3. Buy Crypto with the Koho Crypto App

To buy crypto with the Koho Crypto App, follow these steps:

• Open the Koho Crypto App on your mobile device.
• Sign in to your Koho account.
• Select the cryptocurrency you want to buy.
• Enter the amount of crypto you want to buy.
• Review the transaction details and confirm your purchase.
• The crypto will be added to your Koho Crypto Wallet.

4. Buy Crypto through a Third-Party Exchange

To buy crypto on Koho through a third-party exchange, follow these steps:

• Choose a third-party exchange that supports Koho.
• Create an account on the exchange.
• Verify your identity on the exchange.
• Deposit funds into your exchange account.
• Buy crypto on the exchange.
• Withdraw the crypto to your Koho account.

5. Store and Manage Your Crypto

When you buy crypto on Koho, you can choose to store your funds in the Koho Crypto Wallet or withdraw them to an external wallet.

The Koho Crypto Wallet is a convenient way to store your crypto, but it is important to note that it is not a hardware wallet. This means that your crypto is not as secure as it would be if you stored it on a hardware wallet.

If you want to store your crypto securely, you should withdraw it to a hardware wallet. Hardware wallets are physical devices that store your crypto offline, which makes them much less vulnerable to hacking.

FAQs

Is Koho a safe place to buy crypto?

Koho is a regulated digital banking platform that follows industry-leading security standards. This means that your crypto is safe when you buy it on Koho.

What cryptocurrencies can I buy on Koho?

The Koho Crypto App offers a limited selection of cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. You can buy a wider selection of cryptocurrencies through a third-party exchange.

What are the fees for buying crypto on Koho?

The Koho Crypto App charges a 0.75% fee on all crypto purchases. There are no additional fees for withdrawals.

Can I withdraw my crypto from Koho?

Yes, you can withdraw your crypto from Koho to an external wallet. There is a 0.0002 BTC fee for withdrawals.

How do I get help with buying crypto on Koho?

If you need help with buying crypto on Koho, you can contact Koho customer support by phone, email, or chat.