As someone reading about the world of digital currency every now and then, you might know that crypto coins can be converted into one another. For instance, you can swap Bitcoin to Ethereum or Dogecoin in no time and get a completely different asset.
But did you know that at this minute people buy patio furniture, lollipops, and quick coronavirus tests for BTC? Weird but true, Bitcoin is gaining a larger and larger area of spreading and in many ways is replacing conventional money like USD or euro. To make even more impression listing the things you can buy with Bitcoin, here also belong Tesla cars!
Bitcoin buys not only other cryptos and real life good but also services. People book flights and hotel rooms, purchase tickets to sports events, and pay for private networks or cloud storage devices. For instance, web services adopting Bitcoin payments include Cyberghost, ProtonVPN, and paying like this for cloud storage is possible with Sync and MEGA.
How Can I Buy Bitcoin to Use It As a Payment Way?
Before thinking where to spend Bitcoin, let us first see how to purchase it.
A lot of platforms nowadays will allow you to buy Bitcoin with credit card for fiat currency: U.S. dollar, euro, and Asian currencies like IDR and MYR. One of them is Switchere — the place where buying with credit card is easy, exchange rates are convenient, converting doesn’t take much time, and no hidden fees are applied. This platform also converts currencies anonymously and protects users’ personal data and bank transfers. LetsExchange.io also gives a chance to buy Bitcoins with debit card no verification which saves a lot of time.
Below we are listing a step by step scheme for buying the 1st biggest cryptocurrency. It looks like this:
- Get informed about the coin, exchange, and payment methods.
Before you ever try to buy BTC with credit card or bank account, make sure you have the necessary and relevant information about the app or service you use. Find out what types of payment it accepts, which coins are available, and, very importantly, how the platform protects your financial moves. In addition, don’t expect to get good profits instantly if you buy and sell the coin. Learn about investing strategies and stick with whichever fits your ambitions and lifestyle.
2. Choosing an exchange.
Kraken, Gemini, Binance, eToro, Switchere, — these exchanges and more can help you buy Bitcoins with debit card or money in your bank accounts. However, it’s not always a nice idea to use a credit card because of the high interest. Don’t use the budget you don’t have to buy crypto, this poses more risks!
Once you’ve chosen an exchange, create an account and tie it to your card.
3. Organize safe storage for Bitcoin.
It’s popular to buy BTC at exchanges and then send the purchased amount to a seperate crypto wallet, even though many exchanges can function as wallets at the same time. Cold storage wallets are generally safer and incorporate security measures of a higher level to grant security for clients.
Choosing a third-party provider wallet over exchange storage also makes sense because exchange platforms along with Bitcoin hot wallets are often a target for hackers, as Bitcoin.org says. Many exchange places and online wallets have already suffered from attacks and if you can, prevent it by using a cold wallet instead.
4. Purchase Bitcoin and send it to wallet.
Going back to BTC purchasing, use the chosen exchange to set the amount of Bitcoin you want to buy and get the currency for fiat money from your bank account or card. During the first transaction, you are likely to have identity verification but at places like Switchere, further on you will buy Bitcoins with credit card no verification.
Remember, you can buy a fractional share of Bitcoin, not 1 BTC sharp.
With an impressively wide horizon that owning Bitcoin opens up and a range of goods and services it can buy, Bitcoin is an ever relevant purchase for a modern investor. Buy BTC with debit card or bank account at reputable exchanges and enjoy all these opportunities!
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