So you want to know how to buy Bitcoin, but you want to find the easiest method at the best price but don’t know where to begin. You’ve come to the right place. Let’s take a look at the simple steps to get your hands on Bitcoin in no time at all:
Bitcoin was born in the last financial crisis of 2008/2009, at first it was only a plaything of nerds and hardcore libertarians but took off in 2017 when mainstream investors and entrepreneurs started seeing Bitcoin as a legitimate asset class, like stocks, bonds, and commodities.
It was created to enable payments to be sent between users without any central authority, such as a bank, Bitcoin is highly decentralized. It is also, difficult to censor, immutable (meaning that it is difficult to impossible to reverse transactions), highly fungible, portable, divisible and digital. Many speculators have made vast sums of money by buying in early and holding over the years, due to the limited 21 million coin limit many believe that Bitcoin will reach unfathomable heights as demand increases.
Don’t want to invest in an entire Bitcoin? Don’t stress, BTC can be broken down into fractions going down to as many as 8 decimal places (one hundred millionths). 0.00000001 of a Bitcoin is called a Satoshi, named after the anonymous entity that created Bitcoin.
There is a lot of uncertainty in the world today, the COVID19 epidemic has been the catalyst for a long-overdue economic reset, one that could see far worse job losses than even the great depression. In times like these many are speculating that holding a small percentage of their wealth in Bitcoin could be a good hedge against the current situation.
To buy Bitcoin with SEPA is easy when you use CryptoFish. Head to https://www.cryptofish.com/. Here you’ll see a prompt to buy Bitcoin, simply enter your email address and click “Buy Now”.
From there, you’ll land on a page asking you to register. Simply enter your name, email address and a password of your choice.
This will be followed by a prompt to activate your account via the email address provided. Follow the link from your email and you’re all set up.
The link will take you to your Dashboard. You are now registered and ready to buy Bitcoin with SEPA
Here you will see two options: to either purchase predetermined amounts, or you can enter the amount of money you are looking to spend. You will see that CRYPTOFISH has already worked out the Bitcoin rate for you.
Select SEPA from the list of payment methods on the Left-Hand side, then choose the currency you prefer the price to be displayed in. CryptoFish currently accepts most currencies, however, the prices on the website are displayed in USD or EUR.
Confirm the amount and click “Buy Now”.
On the next screen, you will be asked to enter your Bitcoin wallet address.
Don’t have a wallet? No problem, we got you covered, you can get started by downloading one here.
The payment processor will then send you an email and inside you will find a 4 digit code – simply enter this code into the field and then click confirm to move to the next step.
From here, you can fill in your billing information, your banking account details that you will be sending the money from and then click continue. note: CRYPTOFISH does not store your sensitive data on any of our servers.
On the next step, you will be asked to upload your government-issued ID or passport. Make sure that you follow the guidelines (color picture, all 4 corners visible, JPG format, etc) as indicated on the page. This verification process is typically immediate but can take up to a maximum of 24 hours in rare cases.
The last screen will display the purchase and billing summary. It is important that you note the information down accurately, it will display the bank account details to where you should send your payment, it also includes your UNIQUE reference number that should be quoted on the payment so we know it belongs to you. If you make an error or forget to include the reference number it will delay the process as we will have difficulty tracking your payment.
CryptoFish will send your cryptocurrency immediately after the payment has been received at the bank account. Transfer times from your bank to our bank to purchase Bitcoin can vary from bank to bank but typically is 1-3 business days.
You have now successfully purchased bitcoin using SEPA bank transfer in 2020, well done!
If you are still unsure about anything or need further assistance, please check out our FAQ section on the website or contact us onsite using our live chatbox.
By signing up for updates you will receive the most relevant global news stories. The CryptoFish News Desk cuts through the online hype so you don’t have to.