Buy Bitcoin with PromptPay

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How to Buy Bitcoin with PromptPay

Quick Guide to Buy BTC with PromptPay

Buy BTC on Paybis with PromptPay in Thailand is very simple:
  • Sign up for an account on Paybis. This will involve providing some personal details and going through a verification process.
  • Enter how much Bitcoin to buy or how much THB (Thai Baht) you want to spend and select PromptPay as your payment method.
  • After confirming the transaction details, you will be provided with the Paybis’ bank account details. You need to use your PromptPay app to transfer the specified amount to this account.
After your payment is confirmed, Paybis will send the Bitcoin to your specified wallet address.

What is PromptPay?

PromptPay is a payment service in Thailand that allows users to easily transfer money using their mobile phone. It's linked to a user's national ID number or mobile phone number, making it simple to send or receive money without needing to remember bank account details.

Here's how it typically works:
  • Registration: Users register for PromptPay through their banks, linking their bank account to their mobile number or national ID.
  • Transferring Money: To send money, users enter the recipient's mobile number or ID number. The system automatically identifies the linked bank account.
  • Receiving Money: When money is sent to a registered mobile number or ID, it is directly deposited into the linked bank account.

Why Use PromptPay to Buy Bitcoin in Thailand?

Using PromptPay to buy Bitcoin in Thailand offers several advantages:
  • Convenience: PromptPay is widely used in Thailand and is integrated into the banking systems of most major Thai banks. This integration makes it easy for people to use their existing bank accounts to buy Bitcoin without setting up new payment methods.
  • Speed: Transactions with PromptPay are typically processed quickly. This speed is beneficial for Bitcoin transactions, where the price can fluctuate rapidly.
  • Low Fees: PromptPay transactions often have lower fees compared to traditional bank transfers or international payment methods. This cost-effectiveness is particularly appealing for smaller transactions.

Where to Store Bitcoin After Buying with PromptPay?

After purchasing Bitcoin using PromptPay or any other method, it's essential to store your Bitcoin securely. Here are some common options for storing Bitcoin:
  • Paybis Wallet: Paybis Wallet is a free, safe, and convenient BTC storing option. All deposits made are variable via blockchain explorers, you get a unique Bitcoin address, and you can access funds by just logging into your Paybis account.
  • Software Wallets: These are applications that can be installed on your computer or mobile device. Software wallets offer a good balance between convenience and security.
  • Hardware Wallets: These are physical devices designed to securely store cryptocurrency. They are considered the safest option because they store your Bitcoin offline.