While the volatility of cryptocurrency is inherent in its nature, the market is still open to the digital currency economy. The past year has attracted many finance gurus who have gone all-in with their crypto trading. In addition, big-name brands such as Burger King and GameStop who are adopting the new wave of finance are also helping make Bitcoin (BTC) and other cryptos a mainstream payment method. There has never been a better time to learn how you can get your hands on some freshly mined coins. Brandon Mintz, Founder, President, and CEO of Bitcoin Depot, has created momentum in making BTC readily available to the masses while also making the process easier than ever.
Bitcoin Depot offers cash-to-crypto services, available through their crypto ATMs. The company has advocated for the Digital to Physical method of cryptocurrency. However, some people still prefer to buy their crypto using the traditional methods, such as through a credit or debit card.
“People who can’t visit our ATMs can easily buy their crypto using cards through a safe and fast transaction,” says Mintz. Bitcoin Depot currently offers an online buying service and OTC Desk trading. Mintz shares how a new user can effortlessly buy Bitcoin using a card as well as some things to watch out for when you purchase them online.
Buy Bitcoin Using a Credit or Debit Card
“At Bitcoin Depot, we’ve made it easy to buy Bitcoin online with your credit and debit card. You can use either a Visa or a Mastercard for your purchase,” explains Mintz. To get started, make sure you have a crypto wallet that will store your purchased crypto coins, and this wallet is only accessible to you. The crypto company requires you to make a minimum purchase of $50 worth of cryptocurrency to initiate a transaction.
The current value of one Bitcoin stands at $46,507.57 USD (as of August 19, 2021). You don’t necessarily have to buy an entire coin. You can also buy fractions, with the smallest fraction being 100-millionth of a Bitcoin. “This fraction is called Satoshi as named after the Bitcoin,” adds Mintz.
The platform will ask you to enter the amount of BTC you want to purchase, and a currency will be displayed automatically based on your location. Now, you’re ready to provide the wallet address and receive your Bitcoin within minutes.
Secured with Simplex
Bitcoin Depot also offers its users the choice of different cryptos such as Litecoin and Ethereum. “Since we don’t have any ownership of your crypto, your transactions are more secure than ever and you are free to choose the exact crypto wallet you want. The company has partnered with Simplex for a speedy transaction that is completely automated. The algorithms are such that it eliminates fraud and the A.I. supports secure payments,” adds Mintz.
Mintz recommends that users keep an eye on their digital wallets and diversify their purchases into different wallets, which will mitigate the chances of theft. He also recommends that new users be highly diligent while creating a password, as these should be unique and tough to crack. However, such complex passwords can be forgotten easily, so rather than endangering your security by keeping a virtual note of them, keep them safe on a hard copy document that only you can access.
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