‘Bitcoin’ is a familiar word in the digital world. Though some people are still not aware of this term. ‘Bitcoin’ is a digital currency (cryptocurrency). This is not a physical currency and you can only buy it in digital form.
There are many digital currencies in the world. But, ‘Bitcoin’ is the most popular among them.
How To Buy Bitcoins
You can buy ‘Bitcoins’ in several ways. The easiest way is to use a debit card to buy bitcoins. But, to buy these digital currencies you need an cryptocurrency ‘exchange’. A Bitcoin currency exchange can help you to buy Bitcoins with your debit card.
Where Can I Buy Bitcoins With Debit Card
There are many ‘Bitcoin Exchanges’ in the digital market. You can use these exchanges to buy Bitcoins.
Steps To Buy Bitcoins With Debit Card
The first step is to own a ‘Digital wallet’. A digital wallet can protect your Bitcoin. It’s a place to store your digital currency. There are two types of ‘Digital Wallets’ – software and hardware. Software wallets can provide you with digital protection. But, they can get hacked. ‘Hardware’ wallets may sound old. But, some people love them for their security.
Now, you have to find a reliable ‘exchange’. A ‘Bitcoin Exchange’ is the place where you can exchange your real money for Bitcoins.
For example – You can transfer $1000 to this exchange and the exchange will transform it into Bitcoins.
Before choosing an ‘exchange’, you should verify the background of that exchange. Because security is the prime concern in the digital world. A reliable exchange may ask to submit your ID. They can also verify your photos. Different exchanges have different rules and verification processes. To avoid a scam, you should always research to find the best ‘Bitcoin Exchange’
After finding a reliable exchange, you have to ‘sign up’. An exchange may offer you a digital wallet. Now. to buy Bitcoins, you have to connect your debit card to your digital wallet.
You should remember that an ‘exchange’ may charge you some fees (to exchange the currency). Furthermore, there are some ‘purchase limits’ on these exchanges. So, try to know everything about the exchange you choose.
This is the final step. After visiting your favorite exchange, you can see a section called ‘deposits’. Here, the site will ask you to select a ‘payment method’. Next, you should choose ‘debit card’ as the payment method.
After that, you have to fill all your debit card information. Some ‘exchanges’ may ask you for your Bitcoin address. In that case, you have to provide the exchange with the correct Bitcoin wallet address.
Now, you are ready to go. Just enter the amount and buy Bitcoins. If you are using a general cryptocurrency exchange, then you may have to choose the ‘Bitcoin’ option.
A debit card can help you to buy Bitcoins fast. But, there are some drawbacks when using a Debit card. Some exchanges may not allow you to sell Bitcoins when your digital wallet is linked only to a debit card. Apart from that, an exchange may limit purchases on buying Bitcoin through debit cards.
A Bitcoin Exchange’s – security, fees, verification process, buying limits are truly some important aspects. You should consider these aspects before buying Bitcoins with a debit card.