Bitcoin exchange has been on the rise, and everyone is moving to this paperless transfer. A bitcoin can rise in the market, and this can result in a rise in your income level. There are different ways on how to buy bitcoin around the country.
1. Can I Buy bitcoin at Walmart?
When you hear that you can buy bitcoin at Walmart, it doesn’t mean that you go to Walmart and you are handed the bitcoin. Buying bitcoin at Walmart is what people refer to as peer to peer market place. This is an online market that matches the buyers with the sellers, to make transactions easy.
Since Walmart doesn’t have direct purchasing of the bitcoin from all their stores what they offer is money transactions. Through these transactions, you can buy bitcoins from any place in the country. They have the walmart2walmart money transfers which make the transaction easier.
When making this money transfers you deposit cash at the Walmart teller who is usually located at the customer service area. When you deposit cash the money will be deposited in your bitcoin wallet or be transferred to a bitcoin seller.
2. How to Buy Bitcoin at Walmart Step by Step Tutorial using Paxful
• The first step before buying the Walmart bitcoins is to get a bitcoin wallet. A bitcoin wallet is a place to store your future bitcoin. It works like a bitcoin bank account that allows you to save enough bitcoin to trade.
• Make use of the P2P exchange where you select the person to person market place or peer to peer marketplace. When you are using this system, it becomes easier for you to get market for your bitcoin as the system can pair your location with potential sellers in the nearby areas. When you want to buy bitcoin, you can use online money transfers, credit/debit cards, cash deposits, and gift cards.
• You need to be having an active email address that you can use to buy the bitcoin. Then chose the exact amount of bitcoin that you are willing to buy and sign up using your email address. Ensure you have used the correct email address to avoid confusion when getting the bitcoin.
• Chose the payment method you want to use. Since it is Walmart, they use the cash deposit method of buying bitcoins. On the left side of the screen, you will see a clear list showing all the payment options. Scroll down until you see the walmart2walmart option listed and click on that.
• You can now safely deposit your cash at any Walmart that is near you. If there is any information, you need as to where you can transfer your money you can easily find it listed on paxful.
• After every transaction, you are required to verify the deposit. This is to reduce fraud cases and to protect your bitcoin from fraudsters. You can verify the deposit by uploading the receipt that you got from Walmart’s teller.
• When you have verified your transaction then expect to get your bitcoin from 10 minutes to 3 hours. This depends on the seller and how fast they work and can transfer the bitcoin. But be sure you will receive your bitcoin as using the Walmart system is secure and doesn’t have fraud cases since they have the details of both the buyer and the seller.
3. Paxful Review – Discuss PROs, CONs, & Features
• Safety of funds
When you register for an account, they give you a wallet which you use for your bitcoin. The wallet is used to transfer and store all your funds. Due to cyber-attacks paxful servers are maintained and monitored with the same specifications as banks to ensure that there is optimum security.
• 2-factor authentication
Cyber attacks are the main security threat that is imposed on bitcoin wallet banking. The introduction of 2-factor authentication uses two passwords to reinforce security and add an extra layer of protection. When you have a bitcoin wallet, you will need to have a complex password and have two-factor authentication.
• An escrow services
When you take part in a bitcoin transaction, all funds are held in an escrow until both parties affirm the transactions. This is to ensure there is added security and an agreement between the parties. Additionally, this allows a smoother transaction with fewer complications.
• Customer support
Paxful has a customer support system that aims at ensuring that their customers are satisfied and well taken care of. You can contact the support system by the use of emails, phone calls, direct message, and the social media pages. Their customer support is always available to answer any questions you might have, and they have a quick response.
• Reputation ratings
A company is given a reputation rating depending on how they deliver their services and the activities they carry out. Customers tend to give all traders a ranking depending on how they felt they were served and handled. When a company is rated, all the feedback and trading history is made public to the customers. This introduces trust between the traders and their customers.
b. Pros and cons
• It is easy to use
• Paxful offers a wide and large variety of payment options
• It has great and well-established ratings
• You have multiple options where you can make a decision
• The site is always under cyber-attack, and many issues and you need to be alert always to ensure that your bitcoin investment is protected.
• They have slow customer support although they advertise that they have an excellent customer support system
• This is one of the most costly sites as compared to other sites. It has high fee charges which can be a challenge
4. Discuss Alternative Methods for Buying Bitcoin at Walmart
• Cash deposit
This is the most common way to buy bitcoin in Walmart. You deposit cash at the Walmart teller and buy bitcoin from potential sellers from your location.
• Gift card
You can use a gift card to exchange for bitcoin around your area. Pick a gift card and ensure you save the receipt then exchange it with bitcoin.
• Debit and credit cards
Credit and debit cards are used to pay for almost everything in your household. This makes sense for it to be used to buy bitcoin. You can use your credit or debit card to get bitcoin from paxful.
When you are wondering how to buy bitcoin in your area. You can visit Walmart and have a quick transaction that ensures your security for your investment.
Arnold Webb received a Masters Degree in Computer Science from Harvard University. Arnold currently is a full-time researcher and trader in the cryptocurrency industry. Arnold contributes content to CryptoCelebrities.co, The Bitcoin Magazine and several other publications.