What is Bitcoin and How Do I Buy Bitcoin?

We’re overjoyed you’re asking these questions. With a Cryptopay Bitcoin Wallet you can buy, store and send Bitcoins across the world at ease. We’ve taken the stress out of the entire process, you’re very welcome.

But firstly, here’s a super quick explanation of the crypto giant.

What is Bitcoin?
Bitcoin is a cryptocurrency; meaning it’s a type of electronic cash. It is a decentralized digital currency so there are no central banks or single administrators in control. The currency can be sent from user-to-user on the peer-to-peer bitcoin network. Bitcoin was first released 10 years ago (January 2009) and was set up by Satoshi Nakamoto.

How much is it worth?
It’s a volatile market meaning values change constantly…

Currently, 1 Bitcoin =

  • 3,160.87 Euro
  • 237,946.50 Russian Ruble
  • 2,775.90 Pound sterling
  • 3,562.02 United States Dollars

How do I purchase Bitcoin?
There are two main ways to buy bitcoins through Cryptopay:

  • Account purchase
  • Bank Card purchase

Account Purchase
To buy bitcoins you must have enough funds in your Cryptopay account. So, the first step is to put some funds into your Cryptopay account.
When that’s done you’re pretty much ready to get started.

Log in
Log into your Cryptopay account and click the “Accounts” tab. 
You’ll see a currency exchange tool next to all of your accounts:

When you’re here you can now choose which currency to buy your Bitcoins with, and you will be able to buy Bitcoins immediately as long as you have sufficient funds.

Choose the account of yours that you wish to use, enter the number of Bitcoins you want to buy or the amount you want to spend to buy Bitcoins. (For such transactions, we charge a 1% conversion fee.)

When clicking on the word “Maximum” you can automatically calculate how many Bitcoins you can buy with the funds in your chosen account (fees included).

Once everything is filled in then select “Exchange”. You’ll see the information one more time to make sure everything is correct. When satisfied, click “Confirm” to continue.

And that’s it.

If you need further help please contact our Support Team.

Want to buy Bitcoins? It’s never been more convenient and there’s no hidden fees. Find out more here.