what is a paysafecard bitcoin broker?
Bitcoin brokers make it easy to buy bitcoin initially, usually using fiat currencies like usd and gbp. brokers are often also bitcoin exchanges (where you can exchange bitcoins for another cryptocurrency), but not always.
Most brokers ask you to link an account created by them or you can buy coins or tokens with a credit or debit card. As a result, these brokers collect information about who buys crypto from them and have records of the bank accounts used to buy crypto assets. They also often ask you to confirm your identity by providing identification that matches your account information as part of the kyc protocols.
Reading: Paysafecard to bitcoin
If you want to buy bitcoins without identification, paysafecard could be the best option for you. Because paysafecard doesn’t require you to have a bank account or disclose any personal information, brokers that accept paysafecard allow you to buy bitcoins without a bank account or revealing your personal information.
which bitcoin platforms accept paysafecard?
paysafecard allows the initial purchase of bitcoin on both exchanges and p2p platforms that accept paysafecard for purchases. Brokers that accept paysafecard are often major exchanges. however, there are also p2p options.
how to buy bitcoins with paysafecard?
Below is a step-by-step guide to buying bitcoins with paysafecard.
how to deposit and withdraw via paysafecard?
Depositing funds to a broker account using paysafecard is as simple as shopping on their site, but select paysafecard as the payment method at checkout.
Withdrawing funds from a broker account to your paysafecard pin is just as easy: For most cryptocurrency brokers, you select the amount you want to withdraw, and when you execute the transaction, the funds they should go back to your pin. .
what should i look for in a paysafecard bitcoin broker?
low or no transaction fees:
Before buying bitcoin or any crypto on a platform, you should check the fee structure. Most platforms offer a trial period with no fees or waive fees if you invest enough. some have a paid pro version that has reduced fees. typical prices are between 0.5%-3%. Also, be aware of account closing fees if you think you won’t be holding the account indefinitely.
variety of currencies listed:
Although most investors start with bitcoin, you may want to branch out into other currencies as you grow your accounts and become more knowledgeable. Having a platform that offers multiple listed currencies will save you the hassle of managing multiple accounts with different brokers.
buy/sell tools and controls:
Some apps also have notifications and watchlists that can help you keep track of the market and execute trades when major market moves occur. While some brokers only provide the ability to buy and sell at current market rates, others give you options like buying or selling with limits. Most importantly, stop losses will allow you to place sell orders at a particular price in the event that the price drops, protecting you from large swings down when you are not watching the market. For advanced traders, some platforms allow buying crypto options or buying on margin. you can also set up recurring purchases on some platforms.
ability to pull crypto off the platform:
Some brokers only allow you to hold bitcoin and other cryptocurrencies in one account on their platform. in this case, you don’t really “own” your crypto assets; you can only buy and sell on your app, and you can’t transfer your crypto to other people. this can be particularly problematic on days when the market moves significantly; If the volume of traffic on the broker’s site or app is too large, you may not be able to access your accounts and make transactions. other brokers allow you to transfer your crypto assets to a wallet, where you can transfer them to other wallets, platforms or exchanges.
speed and ease of use:
read the reviews of various brokers to understand their user experience. Some brokers are notoriously slow to load your assets and update your account values, which is frustrating for users who often check their accounts. others have a terrible reputation for being unavailable when traders go to fold en masse. Having a reliable platform that allows you to withdraw money from cryptocurrencies whenever you want can take a lot of stress out of the trading experience.
is using paysafecard the best way to buy bitcoins?
paysafecard is not the easiest way to buy bitcoins. you have to physically go to a location, buy pins (a lot of pins if you want to make a big transaction), and then use 16-digit numbers to buy the correct number of coins, taking slippage and price change into account.
A growing number of consumer banking and payment platforms allow the purchase of bitcoin, many of which you may already have an account, making them the easiest way to purchase your first portion of bitcoin. bitcoin.
If you want to buy btc anonymously, paysafecard is one of the best ways to guarantee your anonymity. note: you lose that anonymity if you decide to attach a bank account or card to the same broker account later.
what are the alternatives to buying bitcoin with paysafecard?
Most bitcoin exchanges provide the ability to attach a bank account or card and start buying btc, usually within a few minutes of setting up your account and logging in for the first time. they also largely support bank transfers, paypal and other payment platforms you may be more familiar with.
p2p platforms are similar: they allow account transfers, paypal or purchases with prepaid gift cards. p2p platforms are considered the most anonymous way to buy bitcoins; they often do not collect information for kyc protocol compliance.
In addition, payment platforms and banks themselves are increasingly providing their customers with the ability to purchase BTC and major altcoins without leaving their app or setting up an account with an exchange. for example, you can now buy bitcoins on venmo, cashapp, and revolut.
If you’re looking for a physical location to convert cash to bitcoin because you don’t have a bank, you can also use bitcoin ATMs, some of which offer similar anonymity to paysafecard purchases.
final thoughts on buying bitcoin with paysafecard
the best place to buy btc depends on several factors. If you are simply looking to buy some bitcoin to hold for investment purposes, any exchange or payment provider with low fees will do. If you are a serious investor who wants to carefully manage and monitor your account, consider researching which exchange is best for your purposes and offers the best user experience for your needs. If you want to stay anonymous and own bitcoin without a record attached to your identity, buying bitcoin through a p2p network like paxful with paysafecard is one of the most foolproof and discreet methods.
See also: Cryptocurrency for kids? – Marketplace