As the world increasingly moves towards transacting digitally more regularly, more people and companies are using Bitcoin as payment method.
Bitcoin is a financial industry disruptor that is changing the face or the sector. Its prevalence continues to make quite a big impact on the industry, changing the way in which people transact.
What is Bitcoin?
Bitcoin is an innovative payment method that allows users to complete financial transactions without revealing their identity or sensitive data.
It’s a form of digital currency that is created and held electronically. It can be used to buy things electronically and is decentralised, so no single institution controls the network.
Buying Bitcoin with a credit card can often be the safest and easiest way.
How purchasing with Bitcoin with a credit card works:
Sign up to an exchange market for Bitcoin, log in and enter your credit card information. Examples of various Bitcoin exchange services include:
Coinbase, Circle, SnapCard, CoinCorner, CoinMama and 247 exchange.
It’s important to never leave your Bitcoins at an exchange or a website.
You generally need to fill in your details and submit your ID for additional verification.
Pay the amount by using your credit card.
Enter your own Bitcoin address.
Once you’ve purchased your Bitcoins, make sure that you move them into your Bitcoin wallet immediately.
Keep in mind that buying Bitcoin with credit cards usually comes with higher fees, due to higher processing fees.
One of the main advantages of Bitcoin is that users can transact directly with each other all over the world, almost instantly, without needing an intermediary such as a bank.
Fees are paid by the purchaser.
Bitcoin can be stored offline and securely and it can be easily converted to other currencies. It can also be used for making global payments.