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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