In the last few years, Bitcoin has become one of the most prominent methods to exchange value across the web. Since its creation in 2009, the way they look at money as a means of exchange and a store of value has changed dramatically. But what is Bitcoin exactly and why is everyone looking for ways to buy it in the first place?
What is Bitcoin and How Does it Work?
Bitcoin is a new form of digital money that aims to solve the problems of the current monetary system. To do so, it provides revolutionary solutions by giving control and power back to the people. In more detail, here is what makes the most popular cryptocurrency so important:
- You can send Bitcoin instantly, all over the world, at all times, even during weekends, late nights or holidays.
- Bitcoin transfers are cheaper and much faster than bank transfers or any other money order.
- In contrast to traditional money, Bitcoin is not controlled by any third parties, such as banks or financial institutions. As such, no one can control your funds, reverse your payments or confiscate your account.
A great way to understand how Bitcoin works is by observing its similarities to cash. When you use paper bills, only you control what you do with them or who you give them to. If you lose your money, it’s most likely lost forever. If you give it to the wrong person, you will never get it back. It is exactly the same for Bitcoin. All transactions using Bitcoin are irreversible and only you are responsible for the safety of your funds.
Aside from its function as a currency, Bitcoin also acts as a great store of value. There are only 21 million Bitcoins in existence and the demand to obtain even a fraction of a coin is constantly increasing. As such, the value of each Bitcoin appreciates much faster than any other investment opportunity.
How are Credit/Debit Cards used Today?
On the other side, credit and debit cards are still the most popular method of buying and selling goods and services worldwide. A simple swipe of a card is enough for you to buy your favorite sweater on the web, pay for your daily coffee, start any subscription service and pretty much everything else that can come to mind.
All in all, the way they are using money today is easier and much more simplified than any other time in the past. Because of this, credit cards and debit cards act as one of the most common payment methods to buy Bitcoin instantly.
Create a Bitcoin Wallet
So how can you buy Bitcoin with a credit card or debit card? The process is very simple. First off, you will need to create a Bitcoin wallet. In simple words, a Bitcoin wallet is an address used to send and receive Bitcoin on the web, allowing you to make use of your coins. You can choose from many different wallet options, and there are four main categories depending on your preference:
If you want to buy a small amount of Bitcoin, say $100 worth, you might want to consider creating an online wallet. These Bitcoin wallets run on the cloud and can be accessed from multiple devices with an internet connection. They are very convenient but they often require more layers of protection and are more prone to hacking attempts. In our opinion, the best and safest online wallet currently available is from Blockchain.com, since it is both very easy to use and downloadable as an app.
If you would rather go for an option that is a bit safer, you might want to use a desktop wallet. These Bitcoin wallets are downloaded and installed on a computer and can only be accessed from the device they are installed on. But beware. Any damage done to your computer, both internal and external, may affect the safety of your funds.
Moving from safer to safest, if you are looking to buy Bitcoin with a significant amount of money, you may want to acquire a hardware wallet. These small devices that look like USB drives allow you to make all of your transactions in a safe way, with manual authorization, using multiple layers of security. While hardware wallets come at a relatively expensive price, ranging from $70 to $200, they ensure maximum safety of your Bitcoin. We recommend using a Trezor or Ledger device, as they are the most popular devices in the market.
Finally, you can also create a Bitcoin paper wallet. These wallets are a physical copy of your public and private keys, printed on a sheet of paper. You can send Bitcoin by transferring your coins to the wallet’s public address and access or use your funds by using your private keys. These wallets help you store your Bitcoin offline but do pose some serious risks, as a piece of paper can easily be lost, damaged or destroyed.
Paybis – Buy Bitcoin (BTC) with Credit/Debit Card
They at Paybis know and understand the importance of choosing the right exchange for your Bitcoin purchases. The platform offers everything you need to make this and every following transaction a success.
- To start off, the easy-to-use interface of our platform makes the purchase process very simple, even for complete beginners.
- Most transactions are completed within a timeframe of five to ten minutes, depending on your payment method.
- All users that choose to buy Bitcoin with Debit Card or Credit Card for the first time, will need to go through a quick verification process. This process, from start to finish, takes no longer than five minutes to complete.
- Thy are well-known for our personal approach to each and every customer of our platform. A strong, multilingual support team stands ready, 24/7, to help users with any question, problem or doubt that may arise. Feel free to check all the positive feedback they have received on Trustpilot, where we score near-perfect for our continuous efforts.
Not all the websites Which listed in Top List are 100% safe to use or investment. We do not promote any of those. Due diligence is your own responsibility. You should never make an investment in an online program with money you aren’t prepared to lose. Make sure to research the website. So Please take care of your investments. and be on the safe site and avoid much losing online.
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