How Bitcoin purchase process works with BTCexpress

How Bitcoin purchase process works with BTCexpress
16.04.2015 01:00 am

How Bitcoin purchase process works with BTCexpress

Banking

Online shops are increasingly integrating Bitcoin as additional payment method in their payment process, while consumer acceptance is also rising at a corresponding rate. The digital currency offers substantial advantages to both sides, such as fraud-free transactions for merchants and the removal of payment risks for shoppers as the entry of personal payment data is no longer necessary. 

BTCexpress is now acting as an exchange point to simplify the Bitcoin purchase process for consumers – doing away with a lengthy registration and verification process, so a quick and easy exchange of e.g. euros in Bitcoin becomes reality. 

_Step 1: Set up a free Bitcoin wallet 
The basis for making payments with Bitcoins and exchanging money into Bitcoins is the obligatory Bitcoin wallet – an online account through which purchases are made and where Bitcoin balances are maintained. A Bitcoin wallet can be set up with several providers free of charge, such as www.blogchain.info. Providers often also offer an app for usage on smartphones and tablets. Payment with Bitcoin is made using the personal 33-digit Bitcoin address. 

_Step 2: Purchase Bitcoins at BTCexpress – small balances without registration and verification 
BTCexpress offers currency exchange without registration and verification for the direct purchase of small Bitcoin balances. For new customers, there will be a limit of EUR 50 placed on Bitcoin purchases, after building up a purchasing history this limit will be continually increased by BTCexpress. 

To buy Bitcoins, user go to www.btcexpress.net. The online currency exchange form can be found underneath the real-time rates of the Bitcoin exchanges directly at the home page. By entering the euro amount the corresponding Bitcoin amount will automatically be displayed based on the real-time exchange rate – e.g. EUR 50 for BTC 0.189382 at a real-time exchange rate of EUR 264.00. 

_Step 3: Payment and Bitcoin transfer 
After confirming the purchase amount, user will be directed to the payment page. After entering the email address, Bitcoin address and country, the payment methods available for this destination will automatically be displayed. The payment methods currently available include Giropay, Sofortüberweisung, iDEAL, eps and SEPA transfer. When using SEPA transfer the Bitcoin transfer starts after BTCexpress has received the funds - usually in 1-3 days. For credit card payment registration and verification is strictly required. 

_Larger Bitcoin purchases require registration and verification 
For purchases of larger Bitcoin balances as well as for payment by credit card, BTCexpress reverts to the registration and verification process. The registration is free of charge via email address, Facebook or Google+ account. After successfully carrying out a verification purchase, the limit for SEPA transfers, Giropay, Sofortüberweisung, eps and iDEAL will be EUR 500 per purchase and EUR 1,500 per week. For the purchase of higher amounts and payment by credit card an identification check must be carried out. This includes a check of the mobile telephone number, proof of address and sending in a copy of the identity documentation.

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