Back to home
Blog, How To

Bitladon enables trading BTCP against Euro directly!

deDeutsch (German) zh-hans简体中文 (Chinese (Simplified))

This article is also available in German and Chinese language.

Or: from Nocoiner to Bitcoin Private Hodler in under 2 minutes


At the moment, the best way to purchase Bitcoin Private is as follows:

  1. Buying Bitcoin on Bitcoin.de with Euros;
  2. Set up your own wallet and BTCP address on your Ledger Nano S;
  3. Swap Bitcoin directly from the Bitcoin.de address to the Ledger Nano S address via the instant exchange exchange.btcp.de.

Now there is an alternative option, namely to buy Bitcoin Private directly with Euros. How this works and what the advantages and disadvantages entailed are is what we want to present in this article.

1. Purchase of Bitcoin Private with Euro

Dutch direct cryptocurrency retailer Bitladon has now added Bitcoin Private to its portfolio.

This makes it super easy to shop for Bitcoin Private. The following steps are necessary until Bitcoin Private Coins are finally yours:

  1. Set up a Bitladon account. This is done by providing an email address, which must then be verified via a link as usual;
  2. Pay in euro credit via wire transfer. The amount must be at least 10 Euros and must be a maximum of 100 Euros (per week) if no further verification is carried out. Verification allows 100,000.00 Euros per week. More to this at the end of this paragraph.
    • Money is deposited through well-known direct transfer providers. More specifically, these are iDeal, Bancontact, SEPA, Giropay, Sofort and MyBank. The fees incurred are shown in an overview.
    • After a successful transfer, the money is immediately credited to the account as a Euro credit.

 

  1. Purchase of Bitcoin Private Coins. For this purpose, click on “Buy Coins” and select Bitcoin Private from the individual currencies. Now the desired Euro amount has to be put in. The amount of Bitcoin Private you will receive for this trade will be specified immediately. Please note price differences with other exchanges, such as HitBTC.
  2. Complete purchase. Once the payment has been completed, the purchased Bitcoin Private are stored on an internal Bitcoin Private Wallet, from which the coins can be withdrawn via the Blockchain to other Bitcoin Private Addresses.

That’s it.


Alternatively, you may go through the “ID verification” process which increases the weekly trading volume to 100,000.00 Euros. This ID verification consists of:

(a) a scan of the identity card;

(b) a selfie along with the identity card;

(c) verification of mobile number; and

(d) the scan of a bank statement from which the address emerges and which is not older than three months.


1.1 What next?

The coins are now deposited on the Bitladon’s own BTCP address linked to your account. The following options are now available.

  1. The coins can be sold again on the same platform. Also against the Euro.
  2. Additional coins (via the BTCP Blockchain) can be deposited on the Bitladon BTCP address.
  3. Coins can be transferred from the Bitladon BTCP address (via the BTCP Blockchain) to its own secure BTCP address, such as an address on a cold storage wallet.
  4. If you want to pay for something with BTCP, a corresponding debit can be made from the Bitladon BTCP address (via the BTCP Blockchain).
  5. BTCP on the Bitladon-BTCP address can be traded cost-effectively against another currency via the instant exchange exchange.btcp.de (via the BTCP Blockchain).

In principle, crypto assets should never be deposited on platforms or exchanges. It is always advisable to deduct all coins and store them responsibly.

2. Securing crypto assets

To store Bitcoin Private , a Bitcoin Private address is required. This, in turn, is an entity within a Bitcoin Private Wallet. The following are two ways in which BTCP can be stored independently.

2.1 The Electrum Desktop Wallet:

A quick download of the software and with a few clicks is created the wallet with address. The Electrum Desktop Wallet can be downloaded from the official Bitcoin Private website .

Desktop wallets always have the disadvantage of showing the public and private keys to the address or wallet on the computer’s screen at least one point of time. This information can be intercepted very easily.

This can be done, for example, by a keylogger (corporate laptop!? …) Or other malicious software. A screenshot at the right point of time is enough and your coins can be removed by the data thief at will.

To avoid this, you should stronlgy consider investing in a so-called cold storage wallet.

2.2 Cold-Storage Wallet

The gold standard of such wallets is certainly the ledger Nano S.

Photo: Ledger Nano S (here with installed Bitcoin and Bitcoin Private Wallets)

The Ledger Nano S comprises its own screen and two input buttons with which the password can be generated and put in. This prevents third parties from intercepting the private keys via the data network or through the computer.

Many technical refinements facilitate the daily handling of the ledger.

Assets can be deposited onto the ledger’s addresses at any time without the neccessity to plugging the ledger in or unlocking it. Naturally, the addresses exist on the blockchain and can be set as receiving address.

Only if assets are to be withdrawn from an address on the ledger, the ledger must be connected to the computer and has to be unlocked via its keystroke. To do this, you connect the ledger to the computer via a USB cable and enter the password via the two buttons on the Ledger’s housing.

At the same time, the ledger enables Nano S viewing its crypto assets via a convenient app and track its performance without the need for ledger to be connected to the computer or unlocked. The specially developed app for Mac laptops is called Ledger-Live.

Of course, a variety of cryptocurrencies can be kept in the ledger. The integration of the different currencies takes place via so-called apps. Where you can find them and how to deal with them is explained in detail on the ledger homepage . The setup is very intuitive and clear.

3. Pay Attention to the Details

Of course, you pay a surcharge for the service of Bitladon to buy Bitcoin Private immediately for Euros. If you want to avoid this surcharge, it is advisable to still exchange BTCP over exchange.btcp.de :

  1. Buying Bitcoin on Bitcoin.de with Euros;
  2. Set up your own wallet and BTCP address on the Ledger Nano S (or a Desktop Electrum Wallet if things need to happen immediately: btcprivate.org/wallets)
  3. Swap Bitcoin from the Bitcoin.de address to the Ledger Nano S address via our own instant exchange exchange.btcp.de.

Stay private!

#wearebtcp

P.S.: The Rebase is coming soon! The unofficial status is 119/119 milestones! (https://regtest.btcprivate.org)

More soon …

Cryptocurrencies are extremely volatile. Invest only as much money as you are willing to lose.

By Team BTCP.de, 6. December 2018 info@btcp.de

Team BTCP.de

info@btcp.de

Leave a Reply

Your email address will not be published. Required fields are marked *

Newsletter

ABOUT ME
Dr. Michael Plevan
The success of Blockchain and Bitcoin Private stands and falls with its community. In order to achieve widespread adoption, we need investors, miners, and people who are open and outspoken about this technology. I would like to serve as a source of information and contact for questions.
Signature
Current Market Prices
Categories
How much money should I invest in crypto?
How does the Blockchain work?
When will the Bitcoin ETF arrive?
What is Bitcoin Private?
New hoodies in store!