Easy Ways To Transfer Funds From Bank Account To Bitcoin Wallet
We are in a new age where the fintech sector is experiencing a massive transformation with the advent of bitcoin and other cryptocurrencies. Bitcoin is increasingly becoming a popular digital currency that people can use to pay for their services, and even mainstream financial institutions are joining this new trend. People can have a bank account for bitcoin transfers. Banks have started implementing blockchain systems as they want to enhance financial transactions and offer convenience to customers. With bitcoin, you are in control of your finances, which means you have your own "bitcoin bank."
Bitcoin is attracting most people because of its decentralized nature, which means nobody controls it, and peer-to-peer bank bitcoin transfers can be done without involving intermediaries. Most importantly, transactions are swift, and it takes between a minute to an hour to transfer funds to another person in a different country. To effortlessly conduct bitcoin transactions, one needs a crypto wallet, and you can get the best bitcoin wallet from PrivateX.io for free.
Why PrivateX.io is the best bitcoin wallet provider
PrivateX.io is a platform that offers a free bitcoin wallet making it the go-to platform for users who are looking for the best and most secure way of storing their digital coins. It is a trustworthy provider with a good reputation, considering it is licensed in Estonia to operate across Europe. The platform runs under PrivateX OU, a regulated financial institution, and operates under the licenses FVT000064 governed by Estonian and EU cryptocurrency laws.
With the license, the firm is allowed to offer digital currency services that include crypto wallets. Interestingly on the site's main page, there is a section where you can check of the licenses are legit to be certain you are dealing with a reputable provider. The platform offers crypto wallets that help them in managing their crypto funds securely and more efficiently. You are in control of your funds, and you can easily transfer from a bank account to a bitcoin wallet where your funds will be secured on a blockchain. Most importantly, you will be responsive to your private access keys, which are 12-character mnemonics that protect the wallet. The access keys should be stored safely, preferable in an offline device because if you lose them, there is nothing the site can do, and your funds could be lost.
The other great thing about the platform is that it is backed by a reputable and consultancy firm, Consulting24, which is renowned for its role in licensing of cryptocurrency enterprises. For instance, Consulting24 is responsible for more than 200 licenses of the 3,000 licenses that have been issued in Estonia. Therefore the platform is one of the most reputable providers of bitcoin wallets to bank bitcoin.
Transfer of funds from a bank account to bitcoin wallet
With the cryptocurrency growing fast, you can acquire bitcoin via bank transfer to your exchange wallet from where you can purchase bitcoins. You need to open an account with a cryptocurrency exchange first and get your bitcoin wallet from PrivateX.io. After establishing an account with your preferred exchange, you need to get verified to buy bitcoin by entering personal details and completing KYC. You then complete the transfer, and with your account credited, you can then buy your bitcoins at the current crypto exchange rates.
There are different cryptocurrencies besides Bitcoin that you can purchase, so you should first identify the coin you want to purchase. On the exchange, you input the amount you want to spend or pick on the suggested figures. Most importantly, you can always change the order if you want to. After your identity has been verified, you can complete the order, and the process only takes a few minutes.
After verification, you confirm your order and key in payment details for your bitcoin purchase. Funds are then transferred securely from your bank account to the exchange, and then your crypto wallet will be credited with bitcoin.
You can either choose SWIFT, SEPA, or bank wire transfer to transfer cash for bitcoin purchase. These are the best bitcoin purchase methods from the bank account. SWIFT transfer permits users from across the globe to purchase bitcoin directly from their bank account, and customers get to enjoy high spending limits at low transaction costs compared to using credit card purchases. Also, SEPA enables customers in Europe to buy bitcoin without processing fees and enjoy high spending caps.
Why buy bitcoin
Bitcoin is a revolutionary digital currency that is transforming cross border transactions in that transfers are within an hour. There is growing adoption even by mainstream institutions, which is reason enough why you should own bitcoin. Most importantly, unlike fiat currencies, bitcoin does not have any restrictions because of its decentralized nature, and one can spend it anywhere.
Also, Bitcoin presents numerous opportunities with a lot of benefits since it is a digital currency. It makes it hyper-portable, durable, and divisible. A distributed public ledger called blockchain that is tamperproof records and confirms all transactions. Because of the decentralization, bitcoin is not vulnerable to effects that fiat currencies experience. For instance, it is recession-proof, and its value does not dip in the event of an economic downturn as fiat currencies do. The value of bitcoin is pegged on market sentiment, where demand for BTC plays a role in determining its price.
You should have bitcoin because it is a flexible form of investment whereby you can own bitcoin as a commodity and trade it on an exchange or use it to buy goods. You control your finances, and you are your bank, as anyone can download the bitcoin blockchain and see all the transactions. All you need is an internet connection and a computer, and you can see all the completed transactions.
Bitcoin offers many opportunities, and the good news you can buy bitcoin through funds transfer from your bank account. What is stopping you from owning some bitcoin today!