What is Bitcoin cryptocurrency and how to use it

In recent years, digital money has become closely connected with everyday life. They have long been accepted as payment for goods and services on the Internet, and in some countries payment with Bitcoin is actively practiced at offline points as well. In this regard, everyone who wants to keep up with the times should know about ways to replenish a Bitcoin wallet.

Methods for replenishing a Bitcoin wallet

Cryptocurrencies are quite easy to handle. In order to fully use them in calculations, it is enough to simply own the public and private key to the wallet, and the nth amount of cryptocurrencies in the account. You can create a Bitcoin wallet in just a few minutes. The main difficulty is that in order to make transactions, Bitcoin must first be purchased and credited to your account.

Thanks to the enormous popularity of cryptocurrencies, many modern financial organizations have developed convenient programs and services for replenishing wallets. To date, there are five main methods of crediting money to user accounts. You can do this through:

• cryptocurrency exchanges;
• exchange services;
• payment systems;
• cryptocurrency ATMs.

Each method has a number of advantages and disadvantages.

Replenishment methods

The simplest option that will allow you to get hold of cryptocurrency is to buy bitcoins from holders who, on the contrary, want to sell them. The only problem in this case is trust. How do you know that the seller will not deceive you and will not cheat you after receiving money from you?

Cases of such fraud are by no means uncommon. At one time, scammers built a very ingenious scam scheme on the PayPal service, which, as a result, led to users refusing to work with this platform. They worked according to the following algorithm: the scammers paid for bitcoins via PayPal, and after receiving them, they filed a complaint with the service that the currency was never received. Unfortunately, the site too often accommodated such unscrupulous buyers, returned their money and left the sellers of the goods at a loss.

Since such a dubious bitcoin exchange is not suitable for us, we want to be sure of the reliability of the operation and that in the end we will not be left with a broken crypto trough, I suggest buying currency only from trusted exchangers or exchanges.

Verified cryptocurrency exchangers

Such platforms differ in rates, commissions and exchange pairs, but the exchange procedure for all is almost the same. After the money arrives at the exchanger’s account, an equivalent amount of cryptocurrency is transferred to the address specified by the user.

The disadvantage of the services is the low exchange fund. Large amounts generally need to be ordered in advance. The rate on exchangers is also not favorable and may immediately include commission fees.

Indacoin

Indacoin is a convenient platform for exchanging cryptocurrencies, which appeared back in 2014. The service allows people from all over the world to buy Bitcoin and other cryptocurrencies using bank cards.

You don’t even need to register to purchase, but registered customers can count on a discount on the exchange commission. You can buy cryptocurrencies on the service only for dollars and euros. When paying from a card that is opened in another currency, the money will be automatically converted.

Limits are set for new clients, which will be removed after active use of the service. So the first purchase cannot be more than 200 USD. Later, the limit increases to 500 and 2000 USD, but in total you cannot spend more than 10,000 USD in a month.

Coinmama

The Coinmama service was one of the first to sell cryptocurrencies for fiat. It began its work back in 2013 and since then has confidently occupied a leading position in the market.

The Bitcoin exchange rate on the service is determined based on the current state of the market, taking into account the commission, which is 5.5%. Additional commissions are not charged.

The service offers the sale of cryptocurrency in packages. The cost of the minimum package is 100 USD, the maximum is 3000 USD. For this money, the client receives an equivalent amount of cryptocurrency. Its contents in packages are regularly updated in accordance with the course. You can also make a purchase for a non-fixed amount, but it should not be included in the cost range of the minimum and maximum package.

Payment for purchases is possible in dollars and euros using debit or credit cards. To purchase, you must register by indicating your email, name and country of residence. Trading is carried out 24/7.

Changelly

Changelly has been operating since 2020 and is engaged in the exchange of digital assets among themselves, and also offers services for selling cryptocurrency for fiat. You can buy Bitcoin on this service without registration for an amount from $50 to $20,000. To do this, you need to go to the appropriate section of the site, indicate the purchase amount in dollars or euros, on the basis of which the amount of cryptocurrency purchased will be immediately reflected, enter the Bitcoin wallet address and make payment.

The functionality of the service allows you to top up your Bitcoin wallet via a Visa or MasterCard. The transaction fee is 5%. The purchased Bitcoin is credited to your account within 10-30 minutes.

Paxful

Paxful is another popular exchange service that has been operating since 2015. What sets it apart from its competitors is its wide variety of payment methods. The service accepts payments from 300 payment systems and in most national currencies. Exchange parameters depend on the selected payment method. So, some methods require mandatory registration, while others can be done without it. The timing of the purchase also depends on the chosen payment method. Transfer to the client’s wallet can be carried out instantly or take up to three days.

Bestchange

The service is not an exchanger in the traditional sense, but it greatly simplifies the exchange. Bestchange constantly monitors all exchange services and displays information about their limits and commissions on its pages. It is also useful to be able to select an exchange service by destination. To buy Bitcoin, you need to select BTS in the “Buy” column, and in the “Give” column - a currency or payment system that is convenient for paying for the purchase. After this, the service will display all exchange offices that provide such services and a brief description of their limits and commissions.

Topping up your Bitcoin wallet using an exchange

An exchange is essentially a type of exchanger. It is distinguished by the ability to bargain, that is, set the purchase rate you need and wait for those willing to sell them at that rate. To quickly complete the transaction, the rate should not be higher than the market rate, and this is not profitable for any seller. But when bitcoins are not needed too urgently, you can try to set the value that suits you and wait for the buyer.

One of the most famous exchanges in the world is BTC-E.com , which does not require authorization from clients.

When choosing between exchange services and exchanges, remember that the commission (both for the procedure itself and for withdrawing funds) may be different.

In both options, you can pay for btc credit to your account through:

• bank card or internet banking;
• Yandex money;
• kiwi.

Let's look at these options in more detail. The algorithm of actions will be similar in all cases.

Exchanges

You can deposit money into a Bitcoin wallet through cryptocurrency exchanges that were created specifically for these purposes. To work with the exchange you will need to go through the registration procedure. As a rule, it is not too complicated and consists of entering your email address and password. After registration, you need to top up your personal account on the exchange using any convenient method, and then exchange the funds for Bitcoin.

Exchanges offer the purchase of Bitcoin at a fair market rate. You can also place a buy order at your own price, which will be closed as soon as there is someone willing to sell Bitcoin at that rate or until the rate matches the established parameters.

Replenishment via terminal

Despite the widespread belief that it is impossible to purchase crypto money through a terminal, this is still possible. To do this, you need to know how to deposit money into a Bitcoin wallet, and find out in advance where the required device is located.

To top up your account you will need to:

1. find the Ibox terminal;
2. start working with the device;
3. go to the bctu.biz website page;
4. deposit cash and register your mobile phone;
5. save the receipt;
6. access the same site from your phone or computer;
7. go to the “purchase” section;
8. click on the item mentioning the terminal;
9. write down the code from the receipt you took earlier;
10. wait for funds to arrive.

This approach allows you to use cash, avoiding the use of cards and payment systems. But even here it is necessary to take into account the commission, without which not a single operation can be completed.

Verified cryptocurrency exchanges

After the purchase, if necessary, you will need to transfer Bitcoin from your intra-exchange wallet to your personal cryptocurrency wallet.

The main advantage of this method is the wide range of purchases. Unlike exchangers, where large limits can be set on the minimum amount and the maximum amount is insufficient for some users. Exchanges allow you to make transactions starting from a few dollars and ending with almost unlimited sums. For transactions involving large amounts, the user may be required to verify their identity.

CEX.IO

CEX.IO is an English exchange operating since 2013. On it you can buy Bitcoin for dollars or euros with a commission from 0 to 0.25%. The maximum daily transaction amount is 1000 USD. The limit is removed upon passing verification, for which the service must provide documents confirming your identity.

You can top up your account on the exchange in rubles, hryvnias, dollars and euros, using payment cards, bank transfers or cryptocurrencies.

EXMO

EXMO is a cryptocurrency exchange convenient for Russian-speaking users, where you can buy Bitcoin through a trade transaction or make an instant exchange. The trading commission of the platform is only 0.2%. Here you can top up your wallet on the exchange with payment systems and currencies popular in the CIS countries.

You can deposit funds into your cryptocurrency wallet through the exchange in just a few minutes. To do this, you need to register, deposit the required amount into your personal account on the platform, and then buy bitcoin in the “Exchange” section at the current rate or place a trade order.

Livecoin

The Livecoin trading platform has been operating since 2013 and has become popular among users from the CIS countries thanks to the support of a Russian-language interface and convenient payment systems connected to the service.

The platform's trading commission ranges from 0.02% to 0.18% of the transaction amount. An additional commission will need to be paid for replenishment and in some cases it can reach 10%.

LocalBitcoins

The LocalBitcoins project was founded in Finland in 2012 and is a kind of bulletin board that allows buyers and sellers of cryptocurrency to interact directly, through a guarantor, which is the exchange.

Users place advertisements with offers for sale, personally choosing the exchange rate and payment method.

You can top up your Bitcoin wallet through the service without commission. Commission fees are provided only for sellers, and buyers will only have to pay the commission of the payment system through which the payment will be made.

Binance

Binance is a fairly young exchange, which appeared only in 2017, but is in no way inferior to market veterans. You can buy Bitcoin here without user verification if the transaction amount does not exceed the limit established for verified users. Binance differs from other exchanges in its low commission fees. The commission is only 0.1% and can be reduced to zero with active use of the exchange.

You can buy Bitcoin here only for another cryptocurrency , the site does not support fiat money, but at the same time, users are charged practically no commission for depositing and withdrawing cryptocurrency, with the exception of transfer fees established by the Blockchain system.

Payment systems (electronic money)

Replenishing a Bitcoin wallet actually comes down to buying cryptocurrency. In order to save on it and make the process as convenient as possible, you should give preference to methods that allow you to make payments using a convenient payment system.

How to top up a Bitcoin wallet via Qiwi

Direct replenishment of a Bitcoin wallet through QIWI has not yet been developed, but if you need to pay for a purchase using this payment system, then you need to select exchange services that support such trading pairs.

To quickly search for exchangers with such a function, it will be useful to use monitoring from Bestchange (in the “I will give” column you need to indicate Qiwi). All exchangers hosted on the service are tested and considered safe.

The desired exchange direction can also be set when purchasing through LocalBitcoins. To do this, you need to place an ad with the rate, amount, priority payment method and wait for a response from the seller.

How to top up a Bitcoin wallet via WebMoney

WebMoney is a payment system that allows you to create a Bitcoin wallet and top it up immediately through the functionality of the service. To do this, you need to register in the system or open a Bitcoin wallet in an existing account. You can top it up immediately using the in-service currency exchange between wallets.

Many exchangers also provide the service of replenishing a Bitcoin wallet when paying via WebMoney. Don’t forget about direct sales on cryptocurrency exchanges, which also support replenishment through this payment system.

How to top up a Bitcoin wallet through Yandex Money

You can transfer money to a cryptocurrency wallet through Yandex.Money through exchangers, stock exchanges, or a direct transaction. The Yandex.Money payment system is supported by the EXMO exchange. To replenish your wallet using this method, you will first need to replenish your account on the exchange with a transfer from Yandex.Money, and then make the purchase and replenishment.

This payment system is also available in online exchangers.

Is it possible to top up a Bitcoin wallet via PayPal?

The PayPal payment system is supported by many cryptocurrency exchanges, the Paxful exchanger and some other resources. Topping up your wallet via PayPal is not difficult; you just need to choose services that support such functions.

Payment cards VISA/Master Card

This is perhaps the most popular way to buy Bitcoin and is provided on almost all services that sell and exchange cryptocurrencies. You can pay for bitcoins with bank cards using the CEX.IO service or through online exchange offices, indicating this payment method in the terms of the transaction.

How to top up a Bitcoin wallet through Sberbank

You can transfer money to a Bitcoin wallet from accounts opened with Sberbank through any service that supports payment by bank card. In addition, there are exchangers that provide exchange in a given direction. By choosing a service specialized in this area, you can save on currency conversion.

How to top up a Bitcoin wallet through Privat24

Payments through Privat24 are very popular in Ukraine. This payment method is provided on most exchange services. Therefore, it is enough to simply choose a trusted service or a private seller and make a transaction in the given direction.

How to top up a Bitcoin wallet using Yandex Money (+ video)

How to top up a bitcoin wallet using a Yandex wallet? Yandex Money is also a form of electronic currency, so this method of exchange is quite simple and secure.

As a result, to replenish a Bitcoin wallet, you will need an online money exchange service.

The exchange procedure is similar to that used when replenishing the wallet from a bank card:

1. On the main page of the exchanger bestchange.ru, select “Give Yandex money” in the column, and indicate bitcoin in the “receive” column;
2. Next, a list of exchangers with the most favorable exchange rate will be automatically generated.
3. Then follow the selected link and go through the registration procedure;
4. We draw up an application indicating personal data, each application is unique and has its own number;
5. Next, we go through the authorization procedure in the Yandex Money service and pay the invoice;
6. Next, we wait for the bitcoin cryptocurrency to arrive in our account.

Terminals (ATM)

Unfortunately, this method of replenishing a Bitcoin wallet is not yet available to everyone. Cryptocurrency ATMs can be found mainly in large cities. Ukraine has recently been actively introducing this function into regular iBOXes. Working with a cryptocurrency ATM is not much different from a regular one. Just follow the instructions. Funds will be credited to your account within a few minutes.

How to top up a Bitcoin wallet without commission

As you can see, there are enough ways to replenish a Bitcoin wallet, and the task before the user is mainly to choose a profitable method with minimal commissions. Naturally, everyone charges a fee for their services, so there are not so many opportunities to top up without a commission.

Selling goods and services for Bitcoin

There are no commission fees for an incoming transaction to a Bitcoin wallet, so it is beneficial to use it as a payment method for services provided or goods sold. In this case, the client will only need to provide the public address of his wallet and wait for the coins to arrive in the account.

This method will be useful for those who have been engaged in sales with payment through electronic payment systems for a long time.

Buying Bitcoin from a Friend

Direct transfers between Bitcoin wallet owners are a great way to top up your wallet without commission. The difficulty of this method lies in the fact that not everyone in their environment has friends who have the required amount of Bitcoin in stock. If such a friend is not found, then you can look for a seller on thematic forums and message boards. This method is convenient for both the buyer and the seller, since it eliminates the need to pay for the services of third parties. There are quite a lot of advertisements of this nature, but do not forget about the risks of running into scammers.