How To Add Money To Bitcoin Wallet
- In the window that opens, you need to specify the name of the Yandex.Money wallet and click the link for the payment. You must enter the virtual wallet number and password to it. And also the number (captcha) from the image, which is a protection from bots. Next, click the “View Payment” button, and then “Confirm Payment”.
- Step 2: Add Bitcoin or Bitcoin Cash to your wallet. Now that you have a wallet, you probably want to add some bitcoin to your balance. Have your Bitcoin or Bitcoin Cash wallet address ready and visit the buy Bitcoin page. Here, you will be able to easily purchase bitcoins with a credit card. You can also buy BCH and BTC right from the wallet.
Two-factor authentication (2FA) is a way to add additional security to your wallet. The first 'factor' is your password for your wallet. The second 'factor' is a verification code retrieved via text message or from an app on a mobile device. 2FA is conceptually similar to a security token device that banks in some countries require for online banking.
Every so often at Coinmama, we get a question that makes us scratch our heads, rethink how we explain things, and go back to Bitcoin basics. Recently that question was “Can you tell me how to add money to Bitcoin wallet?”
The head scratching came from not being sure exactly what question was being asked. Was the user wondering how to buy Bitcoin or was he asking how to load his wallet with fiat (that is, with paper currency)? After some lively office debate over coffee and a few chocolate bars, we were reminded of something often repeated by teachers: if one person has a question, someone else is probably asking the same thing. And because here at Coinmama we like to think of ourselves as crypto teachers, we decided to tackle both questions and a few bonus topics as well.
First let’s rewrite the question:
Before you can ask “Can you tell me how to add money to Bitcoin wallet?” you need to ask, “Can I add money to my Bitcoin wallet?” The answer, much like our relationship with Coinpapa, is “It’s complicated.”
Let’s back up. A crypto wallet is a cross between your bank account and your mailbox for cryptocurrency—it’s the place where you can send, receive, and store coins, and it’s also where you can see a record of all of your transactions. But a crypto wallet is, by its very nature, for cryptocurrency.
So the answer to the question depends on what you mean by money. If by money you mean Bitcoin or other cryptocurrency, then yes! You can buy Bitcoins and send them to your wallet (we’ll cover that in a second). But if by money you mean fiat currency, such as a Dollar, Euro, or Yen, then the answer is no. While on some exchanges you can link your credit card or bank account, that link is to the exchange and not to your wallet. In other words, you cannot add fiat to your crypto wallet.
How do you buy Bitcoin?
Create A Bitcoin Wallet
If our user was actually asking how to add (or buy) Bitcoin to their wallet, well that we can easily answer!
Step 1: get a bitcoin wallet
You can’t get cryptocurrency without a crypto wallet, so if you don’t already have one, that’s your first step. There are many, many crypto wallets you can choose from. Some live online, some live offline, some can be used to store several different cryptocurrencies, some only one or two. Many experienced crypto buyers spread their coins out over more than one wallet. The key to choosing a wallet is to do your research: learn which wallets support each coin, read the reviews, and then download the wallet or wallets of your choice.
Step 2: place an order
If you’re registered with Coinmama, once you have a wallet you can easily buy Bitcoin with your credit card, debit card, or SEPA bank account. (If you’re not registered, you can do that here.) Simply choose the amount of crypto you’d like to buy, add your payment details, and go to step 3!
Step 3: enter your wallet address
Here’s where things get interesting. Every wallet has both a public key and a private key, or two very, very long strings of numbers and letters. The public key is what other people can see: it’s what appears on the blockchain, and it’s also what you can give out in order to receive cryptocurrency. The private key is the password to your wallet. (Don’t lose it, because it can’t be reset, and don’t give it to anyone you wouldn’t also give your bank password to.) In order to send (or add) Bitcoin to your wallet, you will need to enter your public key—or wallet address, so that Coinmama can send you your coins. Once you do that, your work is basically done! You’ll just need to confirm your wallet address by email before you can sit back, relax, and wait for the Bitcoin to be added (or sent) to your wallet.
Coinmama’s Takeaway
At Coinmama, we’ve been around crypto long enough that we forget some people are new to it. It’s nice to get a head scratcher every once in a while, to remind us that for many people, crypto basics are not so basic, and to give us an excuse to answer questions we don’t normally get to answer 🙂
Click here to read our Beginner’s Guide to Bitcoin and Crypto
The topic of bitcoin is constantly growing, as well as a question which explains how to deposit money to bitcoin wallet. Users of the virtual currency are already familiar with the electronic currency Bitcoin. Someone tries to mine it to earn good money, using special equipment for production, for example ASICs. They are powerful devices that provide a good hashrate. And someone uses Bitcoins as ordinary money: pays for purchases, makes some types of transactions and exchanges for other currencies.
Table of content
- Replenishment of the Bitcoin-wallet through Yandex.Money
- How to replenish Bitcoin-wallet through the terminal?
- What are other ways of replenishing a Bitcoin wallet?
- Conclusion
Replenishment of the Bitcoin-wallet through Yandex.Money
To date, people are more confident in Bitcoin as a cryptocurrency. To use it at your own discretion, you need to be able to credit funds to a virtual purse. For such purposes, there are several options for replenishing of a wallet. At the same time, there is a lack of a single way to replenish the wallet directly. A user needs to find intermediaries, whose services are quite expensive.
Online exchange services (exchangers) were created to replenish wallets with virtual money, converting them into fiduciary money. Thanks to them, you can replenish your Bitcoin wallet with the use of different virtual resources, for example, through Yandex.Money, but you will not be able to avoid additional payment for their services. To win in this situation, you can contact the services of monitoring of exchangers.
For example, the popular and reliable exchange “online” is BestChange.ru service. Having opened this site, you need to decide on the direction of exchange. To do this, select “Yandex.Money” in the “Send” column in the left-hand menu, and in the “Get” column specify Bitcoin. A list of reliable exchangers generates automatically with the most profitable transaction rate. Below, the reader will learn how to replenish the Bitcoin purse from a bank card.
Detailed instruction
As for the replenishment of the digital wallet through Yandex.Money, the exchangers will be located in descending order, from the preferred one to the most unprofitable offer. The client must decide on the choice and click on the link of the relevant exchange. A new window will open. An online calculator is displayed. It will calculate the amount that the exchange participant will receive.
However, for this you need to specify the amount that you wish to exchange for Bitcoins. In the appropriate fields, it is necessary to fill reliable information such as a name, e-mail, Skype or ICQ, a mobile phone number. Next, the system will ask you to register the client automatically. Registration is required by any exchanger. After that, you need to click the “Exchange”button.
Automatic generation of an exchange request is a very fast procedure, during which each transaction is assigned a number (identifier). The exchanger warns that it is necessary to pay the application within 7 minutes by clicking the “Pay” button. In the window that opens, you need to specify the name of the Yandex.Money wallet and click the link for the payment. You must enter the virtual wallet number and password to it. And also the number (captcha) from the image, which is a protection from bots. Next, click the “View Payment” button, and then “Confirm Payment”. These simple manipulations complete the formation of payment to the account. When the operation continues, a message appears indicating that the exchange was successful. To verify this, you need to enter the Bitcoin electronic purse and check the availability of receipts.
How to replenish Bitcoin-wallet through the terminal?
How to deposit money into bitcoin wallet through the terminal? This question is in demand too. The presence of a minimum quality of information, which can be found in the search engines for this query, is misleading about the impossibility of replenishing the wallet in this way.
In some countries (for example Ukraine or Czech Republic) they installed specialized iBox terminals, which produce anonymous operations and do not contradict the laws of this country. Developers are enthusiasts, economists, bankers, who teamed up and founded a company called BTCU.biz. Now the question of how to replenish the Bitcoin purse with cash is removed from the agenda.
It is important to note that a client needs to look at the rate of the cryptocurrency in relation to the one he wants to exchange. Bitcoins are credited exactly at the current exchange rate at the time of the exchange.
Detailed instruction
In order to replenish your digital wallet by means of a terminal, you must:
- Find the iBox terminal.
- Click on the link with the name of the site bctu.biz.
- Enter the mobile phone number.
- Deposit cash, while taking into account the commission fee, when making currency conversion. However, this is not all. Do not forget about the commission of terminal itself , which is 1% of the amount paid.
- Save the printed receipt.
- Open the above site, go to the “Purchase” menu, and then make a choice in favor of cash through the terminal.
- View the activation code in the terminal receipt, specify it in a special window.
- Click the payment button.
- Check the entered data, especially the compliance of the amount credited and the amount paid in cash.
- After that, click on the arrow at the bottom of the form to select the method for receiving electronic money.
As you can see, the process of replenishment with the help of a terminal is slightly different from how to put money in your bitcoin wallet through Yandex.Money. However, both options are not complex and can be performed within 5 minutes.
What are other ways of replenishing a Bitcoin wallet?
How To Deposit Money To Bitcoin Wallet
There are several options for replenishing the digital wallet in addition to how to replenish the Bitcoin-wallet through Yandex.Money. Quite often themes are created with proposals for the sale of Bitcoins for a particular currency at thematic forums. For example, a topic participant asks you to exchange your Bitcoins for Webmoney rubles or other currency. This exchange can be called quite profitable, it works without extra commissions. The only downside is the lack of translation guarantees. The user commits the transaction at his own risk. It is much better to try to buy a cryptocurrency from friends or acquaintances.
How Bitcoin Wallets Work
Exchanges
In addition, you can also earn some money on the Internet and exchange it for Bitcoin in specialized foreign exchanges (for example, Bitstamp.net, Btc-e.com, Goc.io, Exmo.com) . This method is completely safe and also one of the cheapest one. In the case where the exchange participant cherishes every dollar and the budget does not allow to overpay commissions, then such exchanges are exactly what he needs. The essence of the exchange is a currency transaction between the participants of the exchange. The percentage for the service is very small, however, the operation will take a longer time.
By the way, it is not necessary to buy a whole Bitcoin, you can buy its part. At the current rate of 1 Bitcoin is approximately 10 thousand dollars. Mining is another way to replenish the amount of Bitcoin. There different ways of this process for today, for example, a solo mining or a pool minings. The last one is the most popular among users, because it gives an opportunity to save miner’s money. The funds in the account can be used to purchase some kind of goods or services.
There are online stores that accept cryptocurrency as payment for goods. That's why the number of Bitcoin wallets holders increase every day, despite the fact that they have no idea how to replenish Bitcoin-wallet through the terminal in Russia or other countries of the former USSR. The absence of such a method does not mean the impossibility of using cryptocurrency. Bitcoin is attractive and special for new customers because of its level of security. The resource uses cryptographic methods of protection.
Conclusion
Having become acquainted with possible ways of how to top-up your Bitcoin account, we can conclude that the global cryptocurrency is gaining momentum. It becomes so large-scale that money withdrawal methods and replenishment of the electronic wallet account are constantly being created and improved. It does not matter whether the user is guided by information on how to add money to bitcoin wallet in cash or in some other already familiar way, he can be sure that there will be the best option for replenishing his own digital purse, which will suit the most demanding participant of the system.