Get verified for sale.
Complete your account setup by entering your personal details. You’ll also need to upload a copy of your ID card for added security.
Place your Bitcoin order.
Pick the amount of Bitcoin you’d prefer to buy then choose SEPA, SWIFT or Faster Payments as your payment option. Follow the prompts to enter your Bitcoin wallet address and initiate a bank transfer payment. Our step-by-step guide to buying cryptocurrency with your money are available here.
Why buy Bitcoin with SEPA transfer?
Customers in Europe can buy crypto using SEPA bank transfer and revel in high spending limits and no processing fees. Place orders as high as 30,000 USD at the same time, depending on verification level. Unlike mastercard orders, SEPA transfers carry no additional processing fee.
Why buy Bitcoin with SWIFT transfer?
SWIFT transfers give customers worldwide the choice to buy Bitcoin directly from their bank account, providing higher spending limits and lower processing fees than bank cards. Enjoy daily limits as high as 30,000 USD depending on verification level, no processing fees on orders over 1,000 USD, and a low flat cost of 20 GBP on orders below 1,000 USD.
Why buy bitcoin bank account with Faster Payments?
Faster Payments lets users in the UK buy crypto using their bank-account and receive their coins in approximately one working day. Enjoy daily limits as high as 30,000 USD (or GBP equivalent), depending on verification level, and 0% payment processing fees.
Bitcoin is a decentralized peer-to-peer digital currency, allowing users to send payments without going right through a central authority including the bank. Every transaction is logged on the blockchain, a master ledger of transactions, rendering it near impossible to tamper with. Since its inception in 2009 2009, Bitcoin is becoming both a worldwide currency that’s eliminating borders, and a long-term investment.
There’s a ton of chatter taking place about Bitcoin and, depending on who you pay attention to, Bitcoin might be good or bad, easy or hard to use, worthwhile or apt to be a bust.
Although it can be hard to straighten out if Bitcoin is going to rise or down in value, or if it’s the continuing future of currency or only a flash in the pan, a very important factor that is for certain is the fact Bitcoin is available to trade right now. You can even put it to use for purchases if you’re creative enough of course, if you plan beforehand for who’ll take the Bitcoin.
This is a Bitcoin guide for those who are curious about how precisely this new cryptocurrency is bought, sold, and used.
Create Your Virtual Bitcoin Wallet
Bitcoin is intended to be an totally anonymous platform, like just how cash works in the physical world. You are supposed to be able to buy and sell things on digital platforms without financial details and records being exchanged.
In reality, it doesn’t work that way for most people. For an average person, like myself, to trade Bitcoin you almost have to work with what is called a Bitcoin wallet.
There are many companies that provide Bitcoin wallets, with Coinbase being one of the most popular options. To be able to use Coinbase, you must give them personal details including your email address, your name, and the capability to link to your money.
But a Bitcoin wallet doesn’t come with any sort of government guarantees. So, if Coinbase goes under or your Bitcoin is lost or stolen, the buyer has hardly any recourse, meaning you will likely never get your money back.
Purchase Bitcoin Electronically
It could be pricy to buy a single Bitcoin, with an individual Bitcoin currently coming in at $3,554.00.
Nevertheless, you don’t have to buy whole Bitcoins. Like everyone else may use a fraction of an dollar (a cent, nickel, dime, or quarter), you can use and purchase fractions of Bitcoins.
The tiniest fraction that can currently be bought or sent is one-hundred-millionth of your Bitcoin-this is called a Satoshi, following the mysterious founder of the cryptocurrency.
You can buy Bitcoin directly through your Coinbase account in whatever fraction or whole amounts you select. Coinbase charges a little bank transfer charge and a 1 percent cost on your purchase, so be certain to take that under consideration when you buy.
Buy Bitcoin Locally
This is a bit that lots of people not used to Bitcoin don’t find out about. You can purchase Bitcoin locally through a niche site called LocalBitcoins.com. This enables you to definitely meet people personally at public places and exchange cash for Bitcoin. It seems strange, but it’s no harder when compared to a Craiglist transaction.
Buy Stuff Online With Bitcoin
A limited quantity of retailers take Bitcoin in trade for goods and services, but unlike its reputation, they are generally regular, run-of-the-mill companies rather than black market operations. Currently, some Shopify store owners (under a variety of brands) will take Bitcoin, as does Overstock.com and Newegg.
There are certainly others, as well, but it’s really a hit-or-miss scenario. In case a store takes Bitcoin, you can put it to use just like a credit card to pay for products and services.
The Bottom Line
Because Bitcoin exists mostly beyond government regulation, it can pose more risk than dealing with banks and government currency. However, it’s not hard to buy or sell, although the worthiness of a Bitcoin can fluctuate wildly.
You can even use Bitcoin to produce a limited amount of purchases, mostly on the net.
If you opt to dabble in Bitcoin, it’s important to learn that you can lose money if the worthiness drops. Recognize that it’s still an extremely new technology, and even the best futurists aren’t sure what’s going to occur with it. So, it’s a good idea to use the philosophy “buyer beware” as it pertains to Bitcoin.