PAYSAFECARD TO BITCOIN
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The number of people that are interested in buying Bitcoin grows day by day. Due to the increase in Bitcoin demand exchange platforms keep offering more and more methods of payment to attract people to use their website. Paysafecard appears to be one of the common methods offered by exchange websites. In this article, we will discuss this method of payment inside out.
What is Paysafecard?
Paysafecard is a prepaid card that people can use online as a mean of payment. It is currently operating in 45 countries. It’s an alternative method of payment if you don’t have a credit card, debit card or PayPal account. Customers can buy a 16-digit PIN code at presale sites such as post offices and gasoline stations. These cards come with a credit balance with amounts that will depend on the country they’re at. For example in Europe the amount range from €10 to €100. Customers do not need to provide their bank details of personal information when using it to purchase something. They can simply enter the pin code into the online shop’s payment forms to pay for small to medium amounts. It can be used to pay for the following:
- Online games
- Online dating sites
- E-commerce vouchers
- Entertainment industry sites
- Social media platforms
- Paysafecard to Bitcoin
These Paysafecard PINs can also be managed and stored in “My Paysafecard”, which is an online e-Wallet. Once the PINs are added to the e-Wallet, customers can just use their e-Wallet’s username and password instead of entering the PIN. They can also view all the history of their transactions on “My Paysafecard”.
- Paysafecard is available for purchase in more than 600,000 sales locations around the world.
- Shoppers can find a local sales outlet using Paysafecard’s outlet finder features. By simply entering their postcode or address in the outlet finder and clicking the search button, it will provide them with a list of every possible Paysafecard retailer in their area.
- Moreover, they can also purchase through the official Paysafecard online PIN shop.
- Keep in mind to buy only in the official shop as buying, selling and even trading Paysafecard PINs is prohibited on all unauthorized online platforms.
Aside from PINs and My Paysafecard, the following offers and products are available also:
- My Plus: Launched in 2014, this loyalty program is available for My Paysafecard account holders. This allows them to earn loyalty points with every transaction to exchange for webshop offers.
- Paysafecard Direct: A service which allows My Paysafecard account holders to upload their PINs directly to their account when purchasing online.
- Paysafecard Mastercard: A credit card licensed by Mastercard that doesn’t require individuals to have a bank account that can be used for both offline and online payments worldwide.
- Paysafecard App: It enables users to conveniently access their My Paysafecard account using their smartphones.
- Coupon Shop: A voucher shop where vouchers can be bought to use for buying items from Amazon, Otto, Zalando and more.
Pros of using Paysafecard in general
- You don’t have to provide your personal details to online retailers.
- It keeps important information away from hackers.
- It’s easy to track your balance. Just enter your Paysafecard code on their official page and you will be able to see your remaining balance.
- It has an informative and helpful app and your mobile’s location app can also be used to find a store nearby that sells prepaid cards.
Cons of using Paysafecard in general
- If you lost your prepaid card, you’ve lost your money too. Anyone who finds it can use it.
- It’s a little inconvenient for some if they can’t buy online and have to go to a retail shop.
Buy Bitcoin with Paysafecard
You can quickly, easily and privately buy and sell Bitcoin with Paysafecard. There are some online services where they offer an option for people to buy BTC with Paysafecard. This is a great option to get coins, since getting Paysafecard is easy with over 600,000 retail outlets worldwide. It is ideal to buy Bitcoin with Paysafecard in small quantities.
- With Paysafecard, you can fund your account anonymously on exchange sites that accept it.
- You don’t need any verification, bank account or credit and debit card to exchange your Paysafecard to BTC.
- After you’ve registered or created an account on your chosen exchange site, you can start trading and negotiating with other traders.
- Depending on the site, you may have to purchase another cryptocurrency first which you can convert instantly to Bitcoins later.
Pros of buying bitcoin with Paysafecard
- It’s absolutely anonymous so you don’t have to worry about providing your personal and bank details.
- You’ll have more control of your spending as you only get to use whatever amount you have on your Paysafecard.
- Since it’s one of the most proven and popular methods of prepaid online payment, expect that there will be new providers entering the market in the future.
- You can purchase a prepaid card at any authorized outlet without using an ID.
Cons of buying bitcoin with Paysafecard
- Anonymity can also come with a price, you can expect to lose money for the exchange, which is around 20%.
- There are also exchange sites with 10% commission of converting Paysafecard to BTC.
- You may also lose your anonymity when you exchange money on exchange sites when using Paysafecard’s prepaid card.
- There are numerous scams out there that takes advantage of this Paysafecard to Bitcoin exchange.
Exchanges that accept Paysafecard
- This exchange site is a local trading marketplace for Bitcoins.
- You are required to register first to buy Bitcoin with Paysafecard on Localbitcoins.
- Once registered, you can look at sellers’ pages, choose a reputable seller and negotiate.
- The process may take time and cost more compared to other exchange sites.
- You can buy Bitcoins instantly on Paxful with Paysafecard being your method of payment.
- It connects Bitcoin buyers and sellers.
- Moreover, you can select from over 300 methods of payments to pay for your coins.
- You can also select from their list of open offers for Paysafecard which indicates the minimum to maximum amounts you can buy.
- You have to create an account and enter the amount you want as well as your Paysafecard’s PIN code.
- You also have to first purchase another cryptocurrency that you can convert later into Bitcoins. The process here will set you back to an estimated 20% commission charged by VirWox.
Aside from these, you can also buy Bitcoin with Paysafecard on forums like Bitcointalk where there is usually a 10% commission on Paysafecard to BTC conversion.
Keep your coins safe
Bitcoin wallets let you store important private keys that are required to gain access to a public Bitcoin address and use your funds. They come in various forms which are designed for numerous kinds of devices. These wallets come in five types:
- Desktop: Some are created with enhanced security while some focuses on anonymity.
- Online: Your private keys are stored online on a computer connected to the net and controlled by somebody else.
- Hardware: This dedicated device can electronically hold private keys as well as facilitate payments.
- Mobile: Runs as a smartphone app that can store your Bitcoin addresses’ private keys.
- Paper: The cheapest and most popular type where a site will provide you with a Bitcoin address and an image with a couple of QR codes.
to sum up…
Although there are some drawbacks in using it, Paysafecard is still one of the best methods for beginners in Bitcoin trading. It’s safe and secure since you don’t have to provide bank details in order to acquire one. Nevertheless, you still have to be aware of the scams ongoing online that are taking advantages of the Paysafecard and cryptocurrencies’ popularity.
If you need further information about digital currencies, make sure to check out our site for more amazing guides and content! Thank you and for next time…