In the economy of the last few years the use of cryptocurrencies has increased significantly and more and more users are interested in buying them, loot them or simply make use of them, however, due to misinformation many of them are unable to buy them, either due to lack of knowledge or the idea that it is a rather complicated process. However, the process of buying cryptocurrencies, including Bitcoin, is really simple. In this article we will tell you how to buy Bitcoin and other cryptocurrencies in Madrid.
It should be noted that the purchase of cryptocurrencies does not have to be affected by the user’s location, since the user can purchase them online. Below we will look at both online and physical purchasing processes through Bitnovo.
In case you want to buy cryptocurrencies with Bitnovo online the process is very simple, we will explain it below:
If you still don’t know what a wallet is, we will explain it later.
This would be the online purchase process that can be done both to buy cryptocurrencies in Madrid and from anywhere, since for this we only need a device with internet access.
This process has a great advantage and is that you do not need to move and in addition to buying by card, you can also buy by bank transfer.
If you are in Madrid and want to buy cryptocurrencies physically, either paying in cash or by card, Bitnovo has ensured that you can do it from almost any location. You just need to be near a Fnac store, Worten or any of the more than 40,000 Bitnovo associated points of sale.
There you can buy our cryptocurrency coupons. This is a very simple way to exchange your euros for cryptocurrencies, since you only have to buy the coupon and then redeem it on our website or app. This process is very similar to when we buy a Netflix or Spotify gift card.
To understand it better, I will explain the process step by step:
Another very similar option is our cryptocurrency ATMs, 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. You can find one of the many ATMs available at Crypto Plaza.
The advantage of purchasing coupons is that you don’t need to go through the registration process and you can buy in cash.
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 cryptocurrencies. This means that we will never store your funds, so you will be the sole and absolute owner of them. Therefore, it is necessary that you have your own wallet where we will send the cryptocurrencies you buy in Bitnovo.
A wallet is nothing more than 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.
Before creating a wallet we should know that we can choose between different devices and formats to store our cryptocurrencies. Most users tend to choose web wallets and mobile apps. Below we will tell you the differences between them:
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 wallet address can be in two different forms: