In this article, I will discuss how to buy crypto with Samsung Pay. With the growing popularity of digital currencies, using mobile payment methods like Samsung Pay makes purchasing crypto easier than ever.
I’ll guide you through the steps, from selecting a platform that supports Samsung Pay to completing your purchase securely and efficiently.
What Is Samsung Pay?
Samsung Pay is an electronic payment system owned by Samsung Electronics which permits users to make payments through compatible phones and devices using NFC (Near Field Communication) and MST (Magnetic Secure Transmission).
Samsung Electronics first introduced Samsung Pay in 2015 in South Korea, the service currently is supported in 24 countries through partnerships established by Samsung with over 500 banks.
The application allows users to link various cards such as debit and credit cards, gift cards, and even membership cards into one application.
By using the wallet feature, users can safely store payment details in their mobile devices without needing to carry cards physically. The vision is to ensure Samsung Pay is available in every region that Samsung operates.
How To Buy Crypto With Samsung Pay
Samsung Pay Compatible Platforms
KuCoin stands out as an excellent choice for purchasing Bitcoin using Samsung Pay. It is also supported on Bybit and Coinbase. Assess all available options to determine what works best for you.
Register on Your Preferred Platform
Create an account on the kucoin using your contact information and submit an identification document for verification. At Kucoin, verification can take anywhere from a few minutes to a couple of days.
Samsung Pay Bitcoin Deposit
After successfully creating an account, deposit money into the Kucoin account using Samsung Pay. You will need to choose a payment method, insert your preferred deposit amount (which usually has a minimum limit of $10-100), and you will almost instantaneously receive the deposited funds into your account.
Locating Bitcoin
Following the funding of your account, search for Bitcoin or ‘BTC’ on the exchange. You will be able to buy Bitcoin with various currencies such as USDT, USD, Euros and GBP. Depending on the currency in which you deposited the funds, you may first have to convert it.
Complete Transaction
Decide how much Bitcoin you would like to buy (for example, $100), confirm every detail provided, and press the trade or buy option. The transaction will carry out immediately and you will see your new Bitcoin in your exchange account. Congrats, you own Bitcoin, purchased through Samsung Pay.
Top Crypto Platforms That Accept Samsung Pay
Bybit
Bybit is a well-protected crypto platform which allows deposits and withdrawals through Samsung Pay. Users can purchase and trade cryptocurrency at affordable rates.
Their user interface is friendly and simple. Security features is strong ensuring safety for all users, regardless of experience level.
Bitstamp
Bitstamp is a trustworthy and secure crypto exchange which permits users to easily deposit through Samsung Pay.
Because of Bitstamp’s long history, it is a reliable platform in the industry for buying cryptocurrency. Users both new and seasoned will have no issue with the simple and affordable process for acquiring digital assets and ensuring seamless transactions.
Gemini
Gemini is an authorized and secure crypto exchange that allows seamless purchases of cryptocurrencies through Samsung Pay.
Gemini is known for it’s favorable security options, having a great interface for trading making it easy for both beginners and seasoned traders to buy and manage digital assets. It’s the go to platform for secure and simple trading options.
Is Buying Crypto With Samsung Pay Safe?
Using Samsung Pay to buy cryptocurrencies with trusted exchanges like Bybit or Coinbase is secure. After your purchase, move your coins to a cold hardware wallet, like Ledger or Trezor, to provide additional security.
Cold storage is preferable because keeping coins on hot wallets through exchanges is best avoided due to the inherent security risks.
Other payment options come with high fees, which makes using Samsung Pay a more attractive option for paying for digital assets.
Bybit is also a preferred exchange by many investors since they do not charge more than 0.5% per deposit and swap, and also provide great security for Samsung Pay users. Be updated on the market for low fees and have fun investing in digital assets under your peace of mind.
Conclusion
To summarize, purchasing investment assets through Samsung Pay is simple and secure, making it perfect for beginners.
Following the steps provided – selecting an appropriate site, funding your account, and completing the transaction – makes acquiring cryptocurrency hassle-free.
Don’t forget to enhance security by transferring your cryptocurrency to a safe wallet once you’ve made the purchase.
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