Real officially confirmed the signing of Bellingham from Borussia Dortmund on Wednesday in a deal worth 103 million euros plus add-ons, with the midfielder signing a six-year contract.
Dortmund said they had reached an agreement with Real last week on a deal that could increase the total amount by up to 30%.
"Money is not a thing for me. I don't think about money at all when I make these kind of decisions. I never have, I never will. I play the game purely out of love," Bellingham told reporters.
"It wasn't a case of the other teams are bad or they weren't good, it is just that, for me, Madrid are the greatest... The respect that England has for Real Madrid is so high. Their pedigree in Europe is the best - simple as.
"I took a lot of interest in that. I think that's what makes Madrid appealing to me. It has a great history and you want to be one of the players that adds to it and continues to make it the greatest."
Bellingham will join a formidable Real midfield featuring veterans Toni Kroos and Luka Modric, as well as talented younger players like Federico Valverde, Eduardo Camavinga and Aurelien Tchouameni.
"The things I will gain from Modric and Kroos will be unbelievable. Their knowledge of the game, the way they play it. The experience will be so great for me," Bellingham said.
"I will just be like a sponge around them, trying to steal everything they have got. They will probably be annoyed with me after the first week or so, but I can't wait to learn from those guys."
Bellingham will wear the number five shirt, the same number that ex-Real midfielder Zinedine Zidane, who left the club in 2006, wore during his five-year spell in Madrid as a player.
"I have said in many interviews how much I admire Zinedine Zidane. The legacy within the club and this number," Bellingham said.
"I am not trying to be the same as him, I am just trying to be Jude, but it is definitely a bit of a homage to how great he was."
Real are in the process of rebuilding their squad following a string of high-profile exits and have been linked by British media with moves for Tottenham Hotspur and England forward Harry Kane as well as Paris St Germain's French forward Kylian Mbappe.
Bellingham declined to comment on the reports, saying: "(Kane) is a world-class player, he's my captain for the national team. I love him as a player and as a person.
"Whatever happens there happens but it is not really for me to comment about... Would I like to play with a player like Kylian Mbappe? Who wouldn't?"
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