How to safely buy cryptocurrency with a bank card?
Digital coins are an effective tool for investing and trading, which is used to make a profit. Considering the fact that cryptocurrencies are a separate financial system that does not have a direct technical interface with fiat and electronic currencies, special tools are required to use them. Therefore, immediately decide on a cryptocurrency wallet, and then figure out how to top up a Bitcoin wallet from a Ukraine card. There are several methods, but they differ in their level of security, profitability and convenience. Therefore, the choice of the appropriate method is made individually, taking into account specific requirements.
Introduction to Buying Cryptocurrency
Cryptocurrency is a specific type of money. First of all, because this asset has no physical expression and is not substantiated by anything. For comparison: fiat money is issued in the form of coins and banknotes, while cryptocurrencies are only available in electronic format. The value of fiat money from different countries is supported by gold and foreign exchange reserves, but in digital coins there is no such factor.
Understanding cryptocurrency and its popularity
Despite the above clarifications, many traders are puzzled by how to buy crypto in Ukraine. This is due to the following features:
complete anonymity of each participant in the cryptocurrency market;
confidentiality of personal data of users of digital coins;
transparency of interaction between users due to the open source code of the entire database since the founding of the cryptocurrency system.
An undoubted advantage for traders and investors is the high volatility of cryptocurrency assets. This factor is due to the fact that the value of digital money changes solely due to fluctuations in supply and demand in the market. That is, the value of the crypt is determined only commercially and in no other way. Due to this, it is possible to top up a crypto wallet from a card, exchange different types of digital money and receive higher profits. Moreover, depending on the chosen strategy, income can be obtained several times a day under favorable market conditions and competent analytics. The most popular cryptocurrency is Bitcoin (BTC), which is due to the largest capitalization and stability of the system. However, the assortment today already includes hundreds of other species, which also have good development prospects. Therefore, when choosing a cryptocurrency exchanger, you should always take into account the current rate of sale of various assets.
Advantages of buying cryptocurrency with a bank card
By choosing the right service through which you can top up your crypto wallet from a card, the transaction will bring the expected profit for the following reasons:
fast transaction processing - crediting occurs instantly;
ease of use of the platform;
maintaining data confidentiality and anonymity;
minor commissions;
favorable limits for large-scale trading.
However, first you need to decide how to top up your crypto wallet from your card.
Choosing a platform for buying cryptocurrency
To work with cryptocurrency, given the lack of direct connection, you will have to use the services of intermediaries. They are provided by different companies that operate under different conditions. Therefore, you initially have to figure out the pros and cons of each option. There are cryptocurrency exchanges and online exchangers (private brokers) to choose from.
Comparison of cryptocurrency exchanges and brokers
Both formats of services that support digital currencies as a tool for earning money are in high demand. The differences are as follows:
Cryptocurrency exchangers. More profitable for traders and investors, because there are low associated costs. The commission is usually built into the general exchange rate or is charged on each transaction as a percentage of the amount. Depending on the level of reliability of the service, as well as its capitalization, transactions can be completed instantly. Through such platforms you can sell Bitcoin and buy Bitcoin. Moreover, since unique accounts for each user are used, you can easily withdraw bitcoins to your personal wallet in VTS.
Cryptocurrency exchanges. Such platforms are used by traders who use various assets in their activities, not just cryptocurrencies. Exchanges usually also offer trading in precious metals, securities, and commodities. This option is convenient for beginners, since reputable cryptocurrency exchanges have a demo mode for testing different trading strategies. In addition, various tools are offered that help not only to choose more favorable conditions for conducting a transaction, but also to automate all processes of placing and closing orders on specified conditions. It’s easy to figure out how to buy cryptocurrency for hryvnia through the exchange thanks to the platform’s user-friendly interface and support for various payment systems. However, there are also serious disadvantages, such as the lack of ownership of cryptocurrencies (bitcoins are used only within the system), a large number of different commissions, including for account maintenance.
Weighing all the pros and cons, we can draw the following logical conclusions: an exchanger for bitcoin and other cryptocurrencies online is a more convenient format, regardless of the frequency of exchange and purchase of digital coins, and exchanges are for novice traders and those who use different tools for trading.
How to choose a reliable trading platform?
There are no problems in choosing a reliable service for working with crypto, because there are a huge number of such platforms on the Internet. However, given the anonymity of all market participants and the non-refundability of payments, it is worth paying attention to specific aspects of the operation of a cryptocurrency exchanger. The most significant are:
service life - optimally the platform should exist for at least a year;
legal justification for the activity of the exchanger - the company must be registered as a legal entity and have all the necessary licenses;
currency exchange methods - manual, automatic, the second is more popular due to the elimination of errors due to the human factor;
how profitable is the conversion rate for withdrawing bitcoin, purchasing ether and other crypto coins;
number of services - that is, the number of currency pairs that can be used in your work;
what payment systems the service works with - does it accept Monobank, Privat Ukraine cards, is it possible to top up a Bitcoin wallet;
speed of processing applications - you can top up a crypto wallet from a card through an online exchanger instantly, but it is better to familiarize yourself with the terms of a particular service;
the presence of an option to work with fiat cash - depending on individual goals, it is worth considering whether the company works with cash, how to replenish a Bitcoin wallet through the Ukraine terminal, where the exchanger branches are located, whether there is a function for a personal meeting with a representative;
limits - apply to all legal services, as this is due to current rules for preventing money laundering through the cryptocurrency sector; when planning large cash flows, it is important to clarify this point on the selected resource;
commission - reliable and proven online exchangers provide the opportunity to convert fiat into crypto and vice versa on favorable terms;
additional earning opportunities - usually this includes an affiliate program and a loyalty program.
In addition, it would be a good idea to pay attention to how the support service works. Before replenishing a crypto wallet in Ukraine, it makes sense to contact the managers, analyze the response speed and its value. Good services usually provide several communication channels, including dedicated telephone lines.
The process of buying cryptocurrency from a bank card
Technically, the process of currency conversion is not difficult for those who are already accustomed to using electronic fiat money online. Standard scheme for how to buy cryptocurrency in Ukraine through an exchanger:
register on the selected platform;
if desired, undergo verification if long-term cooperation is planned (in this case, the limits will be higher, the conditions for the loyalty program will be more interesting);
link the card if the same option will be used for faster transaction processing;
select a currency pair;
indicate the amount;
make sure that the company has a sufficient amount of money in reserve in the accounts of the selected currencies to complete this transaction;
indicate the details of the cryptocurrency account, for example, the bitcoin wallet to which the transfer should be made;
choose transaction verification methods;
confirm the payment using the selected authentication method.
In a reliable online exchanger, crediting occurs quickly, within a few minutes after funds are debited from the response account.
Security when purchasing cryptocurrency
Since cryptocurrencies are used on the basis of anonymity and non-refundability, it is important to protect yourself as much as possible from potential risks of fraud. To do this, you must adhere to the following recommendations:
set up two-factor verification, preferably with confirmation on different devices;
do not under any circumstances disclose your private keys to your bitcoin crypto wallet to third parties, because whoever has the keys is the owner of the digital coins;
before registering and completing a transaction, be sure to make sure that all documents provided by the company are reliable (scam project sites often post fake registration documents, licenses, or openly taken from other companies from public registers);
make sure that the selected site uses modern data encryption protocols; at a minimum, the HTTPS algorithm must be present in the address bar.
Compliance with such rules will help reduce the risk of losing your capital.
Final Tips and Recommendations
It’s definitely worth working with cryptocurrency, because it is an effective modern tool for making a profit in passive mode. However, you should always do this thoughtfully, competently, taking into account the analytics of well-known financial experts, without giving in to emotions when assessing the situation on the market.
