From the very beginning, the goal of Bitcoin was to become an alternative payment method for users all over the world. With all the problems of the traditional banking system today, Satoshi Nakamoto’s creation is slowly changing the way we use money in our daily lives.
So, our goal with this section is to educate users about Bitcoin, give the necessary knowledge to buy Bitcoin with Neteller and how to store it after the purchase.
Now, first things first, how exactly does Bitcoin work, and what makes it so valuable?
Understanding Bitcoin
Bitcoin, as mentioned above, is a digital currency that aims to solve the drawbacks of traditional banking and government-based money. Here are a few key factors that make Bitcoin an interesting alternative currency:
- Bitcoin is decentralized. This means that the digital currency is not controlled by a government or any other form of central authority (banks, financial institutions, etc.). In addition to that, no one can change or reverse transactions made with Bitcoin. The only person responsible for Bitcoin is the person who owns it.
- Bitcoin is mined. Unlike traditional money, there is no central authority that prints bitcoins on demand. Instead, the coin is mined by using the power of computers. This process will continue until Bitcoin’s complete supply is mined (21 million coins).
- Bitcoin promotes transparency. All users who participate in the Bitcoin network can access the ledger and see the details of each transaction, including the amounts transferred and the participating wallets. However, each wallet is represented by a series of random letters and numbers (public address), which allows their owners to maintain a level of relative privacy.
- Bitcoin can be sent to anyone in the world. You can transfer Bitcoin to any person, anywhere in the world. The coins are delivered within a few seconds, at any given time, even on weekends or public holidays.
- Bitcoin offers low-cost transfers. Transactions made with Bitcoin are very cheap and outperform any other digital money service.
- Finally, Bitcoin has a very limited supply. The total number of bitcoins amounts to 21 million coins. And from these, many have been lost forever. This makes Bitcoin a great investment opportunity, as each coin tends to grow in value with the increase in demand.
What is Neteller?
Bitcoin is not the only digital payment system. In fact, there are many payment systems that support online money transfers. The main difference with Bitcoin is that these options are centralized and use traditional currencies as a means of exchange.
All you need to do is top up a virtual wallet with your funds and use them as you please. In many ways, these services are similar to your typical online banking.
One of the most popular payment systems is Neteller.
Neteller is a digital payment service that is often used to transfer money to and from merchants and consumers. The company is owned operated by Paysafe Group, which is also the parent company of Skrill, among others.
Due to Neteller’s popularity, many people are now looking for ways to use it as an alternative method to buy or sell cryptocurrencies.
If you are looking to buy Bitcoin with Neteller, keep on reading. In this guide, we will explain all the steps required to purchase Bitcoin successfully.
Create a Bitcoin wallet
For starters, you will need a place to store your newly bought bitcoins. To do this, you will need to create a Bitcoin wallet. In this section, we will give you a short introduction to cryptocurrency wallets and offer some recommendations for the best options available.
There are four different types of Bitcoin wallets. When creating yours, you will need to choose a type that best suits your needs.
If you only want to invest a small amount of money, you may want to create an online wallet. These Bitcoin wallets are the easiest to set up and use whenever you want to send Bitcoin. After you create a wallet, you can access it from any device that is connected to the internet. Keep in mind that, as online wallet companies store your Bitcoin in their internal wallets, your coins are more prone to cyber-attacks or theft. For that reason, you will need to choose a reliable partner, like Blockchain wallet.
On the other hand, if you prefer the safety of your computer, you can also store your bitcoins on a desktop wallet. To use this option, simply download and install the wallet on your computer. Once set up, you can easily send and receive Bitcoin at any time. However, with this option, it is important to ensure that your device is properly taken care of. Make sure that your device is properly equipped with antivirus software and avoid websites that could potentially harm your device. Any damage done to your computer could seriously affect the safety of your coins. One of the most reliable desktop wallets is Atomic wallet. Not only does it support a large number of cryptocurrencies, but it also encrypts your private keys, giving you full control over your funds.
If you are looking to invest a more significant amount of money, it’s best to choose a cryptocurrency wallet that has the highest level of security for your coins. In this case, it is best to invest in a hardware wallet. Unlike online or desktop wallets, these wallets are not digital. Instead, they are shaped like small USB sticks, allowing users to confirm each transaction manually. This security measure eliminates all hacking-related risks and ensures that your Bitcoins remain safely stored offline. However, hardware wallets do come at a cost, usually between $70 and $200, but the price is well worth it considering the security they offer and the number of coins they are able to store. The most reliable hardware wallets can be purchased directly from Trezor or Ledger.
Finally, aside from the three options described above, you can also use a paper wallet. This cost-effective option allows you to store Bitcoin offline by printing your keys on a sheet of paper. In fact, all this paper contains is your public address and private key. Once created, you will be able to send or request money by using the wallet’s public address or access your funds using your private key. Create your Bitcoin paper wallet here.
Choose one of the above wallets and get ready to buy Bitcoin with Neteller.
Where to exchange Neteller to Bitcoin (BTC)
To go through the process successfully, you will have to use a cryptocurrency exchange that supports Neteller to Bitcoin transactions.
A cryptocurrency exchange is a platform that allows users to buy and sell cryptocurrencies for other assets, such as traditional money or other digital currencies. In many cases, you can also use these platforms to trade one cryptocurrency for another.
We recommend using an exchange that has a satisfied customer base, an easy-to-use interface and a responsive support team. These key factors will help you go through the process easily, even if you are a complete beginner.
Using Paybis to convert Neteller to BTC
So let’s take Paybis as an example. Our platform was built with an eye for detail and it offers everything you need to buy Bitcoin using Neteller or any other currency and here’s what that includes:
- An easy-to-use interface, which makes each transaction easy to complete, even for complete beginners.
- Much like any other exchange platform, you will need to verify your identity before you are able to buy Bitcoin with Neteller. This process takes no longer than five minutes to complete and allows Bitcoin purchases at much higher limits.
- A dedicated support team is online at all times to assist you with any problems you encounter. If you have any doubts, make sure you check out all our positive reviews on Trustpilot, where we have near-perfect scores for our continuous efforts.
Quick guide to buy BTC with Neteller
To make the purchasing process simple, here’s a guide on how to buy Bitcoin with Neteller:
- Choose “Neteller” from the options in the left column of the main page and “Bitcoin (BTC)” from the right column.
- Enter the amount you want to spend using Neteller and provide your Bitcoin wallet address so we can deliver your funds.
- You will now need to go through ID verification. Please provide the necessary information to continue.
- Once our team reviews and verifies your account, you will be able to complete your payment.
- Once we receive your Neteller payment, you will automatically receive your Bitcoin.
If you’d like to understand how the buying process works in greater detail, check the “step by step” section below. And if you still have any questions after that, make sure you contact our support team via live chat.
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