If you have never bought cryptocurrencies and have heard about the subject several times, you might ask yourself:
Does the country where I am influence the purchase of cryptocurrencies?
Where can I buy cryptocurrencies?
How can I buy cryptocurrencies?
These are very pertinent questions that you will see answered, throughout this article, in a clear, objective and simple way, without beating around the bush and going straight to the point.
Let's start…
Does the country where I am influence the purchase of cryptocurrencies?
In a very direct way, the country where you are can influence the purchase of cryptocurrencies, yes. However, it does not influence, to the point of preventing you, or making it very difficult, the purchase, as in general, only one or another method of acquisition may not be available in a given country. In other words, if you can't buy one way, you can certainly buy another way, but you always can.
So now we are going to the part where and how you can buy cryptocurrencies.
Where can I buy cryptocurrencies?
The place where you can buy cryptocurrencies varies, from a conventional physical store, through the acquisition of vouchers, going through the less usual bitcoin ATM machines, through physical money or even specific virtual platforms for this purpose, using common methods, credit card, bank transfer or even paypal.
The important thing is that, whatever your decision, where to buy, you will always have at least a digital wallet – a specific platform to store your cryptocurrencies.
Cryptocurrencies are not a physical “something”, you will not be able to carry them in your pocket directly! Therefore, the digital wallet will be a place where you will receive your cryptocurrencies, when you buy them through vouchers, Bitcoin ATM, etc… you can also buy cryptocurrencies, directly on the digital wallet platform and/or exchange – virtual exchange, more dedicated to other types of operations with cryptocurrencies.
Virtual platforms, Digital Wallets, Exchanges, ATMbitcoin machines, physical stores (through the purchase of vouchers) are examples of where you can buy cryptocurrencies.
How can I buy cryptocurrencies?
You can buy cryptocurrencies in several ways, it's very simple, with a credit card, through bank transfer, vouchers, etc.… that is, using fiat currency: euro, dollar, pound, real or any other currency, inherent to the countries, similarly resorting to the various methods available on the spot for purchase.
Buying cryptocurrencies is like buying another product on the internet!
One of the most common ways to buy cryptocurrency is using, in a simple and usual way, for many people, the already known credit and/or debit card, as if it were a purchase. online normal, from another article, physical, for example, except that in this case, no one will send you cryptocurrencies home, but to your digital wallet. Highlighting the most common cryptocurrency purchase methods…
Purchase via Credit/Debit Card:
Everything will depend on where you choose to buy your cryptocurrencies, if you use a digital wallet and/or exchange, you will have to configure your card on that platform and from the moment your card is configured, in the wallet and/or in the exchange, all you have to do are choices:
1) What is the cryptocurrency that you intend to acquire;
2) What is Quantity that you intend to acquire;
3) The Pagamento Method, which would be in the case of what we are describing, as a mere example, your previously configured credit/debit card.
The process of buying cryptocurrencies with a card is practically immediate.
Cryptocurrencies are immediately available in your digital wallet/exchange.
It is necessary to know that in this process of buy cryptocurrency through card, in most cases, a fee is charged by the entity, where the cryptocurrency is being purchased, i.e. the Wallet or the Exchange, in the example case.
On cards configuration, is still important to mention:
- You can have as many cards configured as you want.
- Some cards may work, while others may not.
There are some external factors that can influence this configuration, because when you configure cards from the conventional financial system, that is, cards from “normal” banks, you will have to abide by the rules established by each bank.
There are even today, some banks that do not let you buy cryptocurrency!
In the old days, a few years ago, there were many banks that did not allow buying cryptocurrency with their cards, today almost all allow it.
We remember that the banks, in an initial phase, interpreted cryptocurrencies as a type of direct competition and then the way to face cryptocurrencies was actually facing them directly, creating difficulties in their acquisition, etc… Then little by little and over time, in general, they concluded that it was not worth it, as the expansion of cryptocurrencies and the ever-increasing number of users was inevitable…
Customers who want to buy cryptocurrencies,
opt for banks that authorize and facilitate the purchase!
When the bank prevents the purchase of cryptocurrencies, usually the decided customer, chooses to look for a solution and often chooses to open an account in more permissive banks and solve it in a simple way.
Because there are more and more customers requesting this purchase because it is already common sense that cryptocurrencies are here to stay, many banks have already chosen to adjust to this reality and choose to deal with this fact, changing their rules accordingly, becoming more permissive.
Banks are adjusting to cryptocurrencies and with that, reviewing their rules.
Today, this is a fact! Most banks are gradually already in this process of tolerating and/or accepting cryptocurrencies.
Still on buying with cards, card configuration is more or less the rule in any digital wallet/exchange, however, there are other digital platforms where you can use the cards simply by filling in the data, as you would to make another purchase on the internet.
You can also buy cryptocurrencies with credit cards. fintech, some cards without associated Iban. These cards are increasingly sought after and used.
Purchase via Bank Transfer:
Another way to buy cryptocurrencies is through a simple Bank transfer conventional, to an account indicated by the platform itself, example: Portfolio or Exchange.
To buy cryptocurrencies through transfer, you will carry out a process identical to transferring to wherever, or to whoever.
There is a certain bank account indicated by the entity, with the respective IBAN and other bank details. Transfer to that account the amount you want. This transfer will often have as a direct consequence that the same transferred amount is “deposited” in your wallet in euros, which is also available in the Digital Wallet or Exchange.
For example, imagine that you transfer USD 100 to a certain bank account, indicated by the Wallet, after 1 or 2 days (it could be less, it could be more, here comes the conventional banking sector, with its rules) you have that USD 100, within from your wallet in euros, available for you to use. And you can then buy USD 100 of a certain cryptocurrency, at any time, with the equivalent of the acquired cryptocurrency, available at the time, at Wallet respective.
Similarly, fees may apply in the acquisition of the cryptocurrency, or in other words, when you switch from euros to cryptocurrency, fees may apply.
Other less common ways to buy…
buy through vouchers:
Another way to buy cryptocurrencies is through vouchers.
The process of buying cryptocurrencies by vouchers is analogous,
the purchase of any other product by this method.
Somewhere in a certain website and/or in a physical store (to which the voucher) eventually you register and you will have a place in a certain field of a form, to put the address of your wallet (digital wallet) to where the cryptocurrency to which the voucher, will be sent. Also here fees may apply, in this case, for the service provided to the customer.
Buying through bitcoin ATMs:
In Africa these ATM-type machines are still not common. But if you come across one, you will see that they look similar to a “normal” ATM and work in more or less the same way.
At bitcoin ATMs, you can easily buy cryptocurrencies, for example by introducing physical money.
Buy through intermediation platforms:
You can also buy cryptocurrencies, in platforms that put the buyer em contact online direct, to seller, charging a fee for the service rendered.
Or yet…
On platforms, which mediate the buyer/seller in a in-person or, to carry out the process of buying/selling cryptocurrency.
In this case, within the website, you look for a seller geographically close to your area of residence and in the face-to-face act, you settle the values with him and simultaneously carry out the purchase / sale operation.
Every day new ways to buy cryptocurrencies appear, but these are some that we consider the most frequent and sufficient, to get you started.
