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Or: from Nocoiner to Bitcoin Private Hodler in under 2 minutes
At the moment, the best way to purchase Bitcoin Private is as follows:
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.
This makes it super easy to shop for Bitcoin Private. The following steps are necessary until Bitcoin Private Coins are finally yours:
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.
The coins are now deposited on the Bitladon’s own BTCP address linked to your account. The following options are now available.
In principle, crypto assets should never be deposited on platforms or exchanges. It is always advisable to deduct all coins and store them responsibly.
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.
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.
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.
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 :
More soon …
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