Not everyone is eligible to make cryptocurrency purchases. If you are wondering who can buy Bitcoin, you should start by exploring the coin’s legality around the world.
We have written an article explaining where Bitcoin is legal and where it is not. Start by getting accustomed to the countries that are currently unsupportive towards the popular cryptocurrency.
- If your country has labeled Bitcoin as illegal, you will not be able to buy from cryptocurrency exchanges.
- If there is a banking ban on Bitcoin, you will probably not be able to use your bank account or bank card to invest in cryptocurrency.
Having said that. even if your country supports Bitcoin purchases there are still a few things to keep in mind before trying to purchase.
Who can buy Bitcoin?
To be able to invest in Bitcoin, you will need the following:
- Be older than 18 years old and reside in a country that allows cryptocurrency purchases
- Your own bank account, signed under your own name
- A Bitcoin wallet to store your coins after you buy them
- Capital that you can allocate towards BTC
This should be enough to get you started. You do not necessarily need a bank account to get started since you can also buy with different payment methods. For example, on Paybis, you can pay using several e-money services.
Why didn’t you mention that we need to verify our ID?
Good point! ID verification has almost become a staple for all cryptocurrency exchanges. However, this is not always the case. You can still buy BTC without verification on several exchanges, using particular payment methods.
Going back to our previous example, Paybis allows users to buy Bitcoin without verifying their ID, using Payeer or Advanced Cash.