9 min read
As you may already know, the use of cryptocurrencies is increasing every day, and it is normal due to the countless advantages they offer. Therefore, more and more users are interested in buying them, looting them, and so on.
However, a large part of users are not able to acquire them due to misinformation, either because of lack of knowledge or the idea that it is a rather complicated process. The vast majority claim that they want to get started in the world of cryptocurrencies, but that it is a “difficult” process.
However, the process to acquire cryptocurrencies, including Bitcoin, is quite simple. In this article we will tell you how to buy Bitcoin and other cryptocurrencies in Bilbao.
The first thing you should know is that the action of buying cryptocurrencies does not have to be affected by the user’s location. This is because they can also be purchased online. Below we will explain both processes of purchasing, both online and physically in Bitnovo.
How to buy cryptocurrencies in Bitnovo online?
If you prefer to carry out the process from the comfort of your home, you can do it with Bitnovo online. This process is very simple, we will explain it below:
- The first step is to go to Bitnovo’s official website and choose the option to buy cryptocurrencies. You can access directly from this link.
- Once you have entered the purchase page, you will have to choose the amount of euros you want to convert into cryptocurrencies, the cryptocurrency you prefer to buy and then click on the “buy” button.
- When you have completed this step you must enter the following requested data: wallet address where you want to send your cryptocurrencies, your phone number, an e-mail and of course, a payment method (card, bank transfer or other cryptocurrencies).
- Finally, the last step is to perform identity verification, also known as KYC. This is a government-mandated process to combat money laundering in banking, financial and stock market activities. It is a very simple process that you can complete in minutes. Once this quick process is approved, the cryptocurrencies will arrive in your wallet shortly.
Maybe, like many users, you still don’t know what a wallet is. In that case, don’t worry, we will explain it later.
This would be the online purchase process that can be done both to buy cryptocurrencies in Bilbao and from anywhere. To perform this process we only need a device with internet access.
This process has a great advantage and it is that you do not need to travel and besides buying with a credit card, you can also buy through bank transfer.
Buying cryptocurrencies physically in Bilbao
If you are in Bilbao and you are interested in buying cryptocurrencies physically, either paying in cash or by card, Bitnovo works so that you can do it from almost any location. You just need to have a Fnac, Worten or any of the more than 40,000 Bitnovo partner stores nearby.
In them you can buy our cryptocurrency coupons. This is a very simple way to exchange your euros for cryptocurrencies, for this you just have to buy the coupon and then exchange it on our website or app. It is a very similar process to when we buy a exchange gift card.
Below we will explain the process step by step so that you can understand it better:
- As a first step you should go to the store closest to your location (you can find it on the map on our website or app). Among the locations you can access the Tobacconist Bilbao located in Plaza del Museo 1 or the Fnac Bilbao 4.
- Secondly, you must buy a Bitnovo voucher for the amount in euros that you want (they can be from 25, 50, 100, 250 or 500 euros).
- To buy it you can pay in cash or by credit card and you will receive the coupon with the code to be redeemed.
- Finally, you must enter our website or app, redeem the coupon for the cryptocurrency of your choice and send the funds to your wallet.
Another option you can take advantage of to buy physical cryptocurrencies are our cryptocurrency cashiers, where you can exchange your cash for coupons. Once the cashier has issued the voucher, you can redeem it for cryptocurrencies on our website or app. The advantage of this process is that you don’t need to go through registration processes and you can buy in cash.
What should you know before buying cryptocurrencies?
Before you go to buy cryptocurrencies in Bitnovo it is essential that you know one of our main advantages and that is that we are not custodians of your cryptocurrencies. This means that we will never store your funds, so you will be the sole and absolute owner of them. Therefore, you need to have your own wallet or digital wallet where we will send you the cryptocurrencies you have purchased in Bitnovo.
What is a wallet?
A wallet is a digital wallet where we will store, manage and save our cryptocurrencies. In more technical terms, it is a software that allows us to access the blockchains of each cryptocurrency respectively. However, we must know this concept well before taking the big step.
A wallet offers us the possibility to check our account balance at any time, receive currencies, send currencies, among other options. But most importantly, it allows us to be the sole owners of our cryptocurrencies.
Wallets exist because cryptocurrencies technically exist as records of transactions contained within a blockchain that operates through the connection between nodes around the world. Wallets provide us with a public key and a private key that give us ownership and rights to our cryptocurrencies.
Before creating a wallet we must know the different devices and formats to store our cryptocurrencies. Once we know them, the next step is to choose the format that best suits us according to its characteristics. Most users tend to choose web wallets and mobile apps. Below we will tell you the differences between them:
- Web wallet: In this case your funds will be in the custody of an exchange and will not really be yours until you send them to your own wallet.
- Mobile application: Here the funds will be yours and it is one of the most practical options. You can download the app to your mobile or tablet to carry the wallet with you at all times and manage your cryptocurrencies at all times.
- Desktop wallet: Similar a la aplicación móvil pero a través de un software de ordenador.
- Paper or USB memory: There is also the possibility of printing the code of your wallet in paper format or saving it in a USB memory. This way our cryptocurrencies will always be safe.
- Hardware Wallet: This is the option that best combines security and simplicity. They are devices specifically designed to store cryptocurrencies securely and their cost is higher than the previous options.
Share your wallet address
When we have created our wallet-account, we will have the possibility to access our address also known as public key. This will be your wallet “code” that you will use to receive transfers and cryptocurrency remittances. Something like the “IBAN” of our bank account. The public key can be shared with any user who intends to send us cryptocurrencies, however, the private key should not be shared with anyone, because once someone has it, they can access our cryptocurrencies and manage them as they wish.
The wallet address can be given in two different ways:
- Alphanumeric code: This is a fragment composed of letters and numbers.
- QR Code: This is the dot matrix or barcode where the information with the address of our wallet is represented. This code is generated through the mobile application. This will be the address that you will have to enter with Bitnovo so that we can send you the cryptocurrencies you buy.