Bitcoin was a game-changer for different industries. It was the first ever crypto in the market, opening the eyes of many to blockchain technology, decentralisation, and convenient borderless transactions.
Nowadays, people use Bitcoin not just for trading, but also as a payment method for daily, weekly and monthly transactions—buying a cup of coffee, booking flights, splitting bills with friends, shopping online, paying for subscriptions, and more.
If you’re new to crypto and want to experience everything Bitcoin has to offer, consider this your guide to learning how to buy Bitcoin worldwide.
Disclaimer: This content is for informational purposes only and should not be construed as financial, investment, legal, or tax advice. Due to its high volatility, investing in Bitcoin involves significant risk, including the possible loss of principal. Conduct thorough research and assess your financial situation and risk tolerance before making any investment decisions.
The Beginning of Bitcoin
Bitcoin is a cryptocurrency launched in 2009 by an anonymous person or group using the name Satoshi Nakamoto. Unlike conventional financial systems, Bitcoin introduced a method for making transactions without regulatory oversight—neither the government nor banks will be involved in your transactions.
Initially, Bitcoin was only available to miners, or those who verify transactions on Bitcoin’s blockchain network. This phase was largely experimental, as Bitcoin had no significant financial value back then. Thankfully, the first recorded Bitcoin transaction occurred a year post-launch. In May 2010, a man exchanged 10,000 BTC for two Papa John’s pizzas, valued at approximately $25. This sparked widespread discussions about Bitcoin, and encouraged the exchange of Bitcoin for various goods and services online.
What You Can Do With Your Bitcoin
Flash forward to today, Bitcoin remains the most popular and largest cryptocurrency by market capitalisation. Thousands of merchants accept Bitcoin as a payment method globally, and there are tens of thousands of Bitcoin automated teller machines (ATMs) worldwide.
Some of Bitcoin’s most common use cases include:
- Investment and speculation
- Remittances
- Purchasing goods and services
- Peer-to-peer (P2P) transactions
- Accepting salaries
- Charitable donations
- Store of value
- And more!
How to Buy Bitcoin Worldwide: A Step-by-Step Guide
You can buy Bitcoin from different platforms, such as an online crypto wallet, crypto exchange, Bitcoin ATM, and brokers, among others. However, since discussing how to buy Bitcoin worldwide, we’ll use the process of buying Bitcoin on Ka.app, a crypto platform that allows you to send Bitcoin transfers for free, as it is available in various countries and locations.
We’ll share with you two different ways to buy Bitcoin on Ka.app: through IBAN and the Ramp integration. In case you didn’t know, Ramp allows users to buy crypto through bank transfers, a debit/credit card, Google Pay, and Apple Pay.
a. Buy Bitcoin with IBAN
The most popular and cheapest way to buy Bitcoin with euro on Ka.app is with your IBAN. Here’s the step-by-step guide:
- Register for a Ka.app account.
- Log in to the platform.
- Activate the cash feature to enable euro transactions and automatically create your crypto IBAN on Ka.app. We call it the Ka. IBAN.
- Transfer euros from your bank account to your Ka. IBAN.
- After a successful transfer, go to the home screen and select ‘Convert.’
- Choose Bitcoin and specify the amount you wish to buy.
- Complete your purchase by entering your passcode.
b. Buy Bitcoin with Debit/Credit Card, Google Pay, Apple Pay, or Wire Transfer
Ka.app also supports buying crypto via credit/debit cards, Apple Pay, Google Pay, or wire transfers through Ramp, a Web3 financial infrastructure. Follow these steps to get started:
- Sign up and/or log into Ka.app.
- Hit the ‘Buy’ icon and select Bitcoin.
- Ramp will load. Choose to convert euro to Bitcoin and specify the amount.
- Choose your payment method (i.e., credit/debit card, Google Pay, Apple Pay, etc.) and enter the necessary details to proceed.
- Verify the transaction with the confirmation code sent to your email.
How Long Does It Take to Buy Bitcoin on Ka.app?
If you’re using IBAN it can take just a few minutes, depending on how fast you can transfer euro from your external IBAN to your Ka. IBAN. If you’re using a debit/credit card, Apple Pay, and Google Pay transaction, it usually takes 5 minutes or less. For bank transfers, it depends on what bank you’re using, but it usually takes anywhere from 2-20 minutes.
How Much Does It Cost to Buy Bitcoin on Ka.app?
For IBAN users, there’s a €1 flat fee for incoming transactions. For other payment methods, it may vary depending on the amount of your transaction.
Final Thoughts
Starting your Bitcoin journey is exciting, but as they always say in the crypto community, you have to do you own research (DYOR) to make informed decisions. It’s also crucial to learn your risk tolerance, consider risk management strategies, stay on top of security measures to protect your funds, join communities for support, and leverage available resources to enhance your overall experience.
FAQ
Can I buy Bitcoin in any country?
The stance on cryptocurrency, including Bitcoin, varies significantly from country to country due to concerns over financial security, regulatory control, potential for misuse, and the impact on traditional financial systems. While you can buy Bitcoin in most countries, some countries have banned the use of crypto. You can verify the legality of Bitcoin in a specific country by consulting relevant laws.
Is it safe to buy Bitcoin?
Buying Bitcoin is safe if you use reputable platforms and proactively take precautions like using two-factor authentication (2FA), regularly updating your software, using hard-to-crack passwords, and not using public WiFi. Avoid sharing personal keys and be cautious of scams as well.
How do I pick the right platform for buying Bitcoin?
It’s crucial to consider strong security measures, low fees, ease of use, and good customer support when choosing a platform for your Bitcoin journey. You can also read up on user reviews to learn more about the platform you’re considering using.
What is the maximum amount of Bitcoin I can buy on Ka.app?
If you’ve unlocked KYC Level 2, there’s no limit to the amount of Bitcoin you can buy on Ka.app. However, we recommend you to read this proof of source of funds FAQ in case you encounter a request for some proof of source of funds.
