Is it Yet Possible to Buy Bitcoin in the Bank?


Business / Thursday, October 21st, 2021

Is bitcoin the new face of finance? Is it the new way of exchange and investment? Well, yes and no. Bitcoin, as it is, is an idea more than a currency for financial experts. What started as being called a ‘fraud’ is slowly and steadily becoming a legitimate way for financial transactions and a means to store wealth. And it works well, sometimes better, primarily if cryptocurrency is supported in the place you want to use it. But is it that easy to own and handle cryptocurrency? Can we buy Bitcoin from the bank directly?

Where do you buy Bitcoin?

Though it has been on the market for quite some time, cryptocurrencies are still waiting to be exchanged via banks. But in the meantime, the banks, who once used to call them by wrong names, have adopted the crypto method and have brought digital currencies of their own. Why? Simply because it is a cost-friendly and less complex method to conduct exchanges digitally.

According to this article on en.meteofinanza.com, you can buy cryptocurrencies from the exchanges by linking your bank account directly. However, before doing that, check with your local laws and regulations as some countries continue to make owning them illegitimate. Hopefully, the growing number of uses and interest will soon lead all banks and governments to accept Bitcoin.

What steps do you have to take to own Bitcoin?

The first thing you have to do to own Bitcoins is to select a crypto exchange. Many platforms will let you connect to your bank account and credit or debit cards to buy and exchange Bitcoins right away. Nevertheless, the bank may charge you a fee every time you buy or exchange Bitcoins. So, go over your bank rules and prices according to the exchange of your choosing, as every bank has different fees related to cryptocurrency exchanges.

After you have selected your exchange, connect your desired bank account to the platform, and you are done. Once they verify the credentials, you will be ready to buy, hold and sell cryptocurrencies. But remember, there are fees everywhere. So keep on the lookout and choose your trades carefully every time.

A secured wallet is a safe wallet

By now, you know how the internet can sometimes be very risky. It is the same with your cryptocurrency as everything regarding it happens online. So keeping it secured is your job. Keeping a spending currency in a hot wallet that is live on the internet and a cold wallet, which is your safeguard is the best way to go.

A two-way authentication on your hot wallet will make it extra safe, which everyone should have nowadays. And the other thing, do not brag about your crypto balance anywhere. That makes people’s ill intentions grow fast, and you may become a target of being hacked on the internet. So it is wise to keep your passwords safe but even more intelligent to keep your crypto safer.

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