To start with, let’s learn these two words a little better. Bitcoin is nothing but a cryptocurrency. By that, we simply mean virtual currency.
Unlike other currencies, cryptocurrencies cannot be seen or held but they equally possess the same worth of “money” as the normal currencies. In other words, it is only a digitalised version of the regular currencies that can be electronically stored in your “wallet”. Bitcoin has a range of relaxations in terms of transactions for its users which are generally not allowed by usual bank transactions. Bitcoins can be earned, invested or exchanged through a wide variety of options. One of such is through Western Union.
Western Union is a global payment network that people can use to send and receive money in large scale without facing any inconvenience.
Following are the media by which you can buy Bitcoin with Western Union:
1. Paxful: To buy bitcoins on Paxful, all you need to do is to follow these simple steps:
- Sign Up: Create an account on this website and you will automatically be rewarded with a free bitcoin wallet.
- Find an Offer: Once you are ready with your account, choose the mode of your payment, the currency you prefer and the amount of bitcoin you want to purchase. After sorting these out, click on Search for Offers. The list of offers available will be displayed from which you can choose the best convenient option based on your requirements. Do not forget to review the seller’s terms.
- Let the trade begin:The next important step is to enter the bitcoin amount and start a live chat with the seller. Sellers will guide accordingly on how to make your payment.
- Get the bitcoin in return: Sellers will finally release the bitcoins into your Paxful wallet.
2. LocalBitcoins: Another feasible way of earning bitcoins is through this website. Following are the steps explaining how it works.
- Sign up if you do not hold an account there already, create an account on LocalBitcoins to start with.
- You need to start looking for Bitcoin trade advertisements where the sellers set set a pricing, limit and terms of the trade that need to be followed
- Once you open a trade with a seller, they will guide through paying for the trade. The sellers get notified as soon as you reply to their advertisements.
- You need to make the payment and press the I have paid
- Next your seller will confirm that the payment has been received and will release the bitcoins,
The final step to both the methods mentioned above, is to leave a feedback for the sellers to encourage others looking for a source to make a trade with as it is important to have a good reputation in the trading world.
Overall, both Paxful and LocalBitcoins are globally well established marketplaces for selling and buying bitcoins with any payment method. According to some reviews however, Western Union is the best mode of payment that can be easily and securely accessed. To know more you can browse https://www.smartbitcoininvestments.com/buy-bitcoin-with-western-union/.