In the world of the dominant internet today, purchasing anything has become very easy and simple. The same goes for Bitcoin or any other cryptocurrency too. BTC is currently the world’s number one cryptocurrency that works on the blockchain technology. Bitcoins are made by the miners by conducting the mining process using the hardware, software to make a cryptographic number. BTC uses a hashing algorithm to convert the hash that is stored in a block. Before we take a look at how to buy BTC with Skrill, let’s dive deep into what is Bitcoin and Skrill.
What is Bitcoin?
Bitcoin is the number and most well-known cryptocurrency in the world. It was founded by a man who goes by the name of Satoshi Nakamoto on 3 January 2009. Bitcoin works on a decentralized network that uses blockchain technology. Blockchain technology allows peer-to-peer transparent and secure transactions without the interference of a central authority like banks or governments. The world’s number one cryptocurrency is very limited in creating its value and avoiding inflation. As such, there are only 21 million Bitcoins available.
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What is Skrill?
Skrill is a very popular online platform and a digit wallet that lets users purchase cryptocurrencies like Bitcoin, Ethereum, Litecoin, etc, in the most secure transparent way. It was founded in 2001 and has now become one of the most trusted crypto exchanges in India. Skrill account setup is very easy and supports multiple payment options including bank transfers, credit/debit cards and other wallets. In addition to this, Skrill provides very competitive fees for successful transactions. The fees is always presented before a user makes a transaction. In terms of security, Skrill offers 2FA (Two-Factor Authentication) and encryption to make sure that the transactions and personal information of a user are protected.
Now let’s take a look at how to purchase Bitcoin using Skrill:
1. To get Bitcoin with Skrill, you will need to create an account. Verification of your Skrill account is very important to buy cryptocurrency. So make sure to complete your Skrill verification.
2. Add money to your Skrill account using the preferred payment method. Right now, Skrill supports fund deposition via multiple methods, including by card and bank transfer.
3. Find and go to the crypto tab. This is where you will be managing your cryptocurrency transactions.
4. Inside the crypto section, click on Bitcoin (BTC) from the list of cryptocurrencies available.
5. Decide and enter the amount of Bitcoin you want to purchase in your local currency. Skrill will automatically convert your local currency to Bitcoin.
6. Go through the transactional details before pressing the buy button. Once everything looks good to you, confirm your transactions by tapping on the ‘Continue’ button.
7. After the purchase is confirmed, your purchased Bitcoin will be stored in your Skrill account.
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