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WHAT IS BITCOIN?
Bitcon is a cutting-edge virtual currency that is unaffected by centralised power. It is a payment method of consensus network that operates without the use of a mediator or a central authority such as a bank. It is the first user-driven peer-to-peer payment system. From the user’s perspective, Bitcoin is similar to Internet currency. Bitcoin uses a distributed record called a blockchain to keep track of transactions.
WHAT IS A CRYPTOCURRENCY WALLET?
A cryptocurrency wallet is a digital equivalent of a bank account that allows you to store, access, and interact with your cryptocurrencies. The primary distinction between a crypto wallet and a conventional bank is that your account number is public and directly linked to your identity with a traditional bank account, but your transactional history is private. Your transactions and account number (public key) are both public in crypto wallets, but there’s no way to link a specific address to you.
HOW DO YOU BUY BITCOINS?
Through an exchange, anyone with a computer or smartphone may purchase bitcoin. You’ll have to pay trading fees in addition to the bitcoin price. The steps to buy crypto are:
- Register for an account on a cryptocurrency exchange platform like Binance.com or Kraken.com which are few of the most famous exchanges to buy and sell crypto and hold wallets.
- Some exchanges may require you to verify your account for registration, the process is hassle free at Binance or Kraken
- Secure your account with 2 factor authentication
- Once your wallet is set up, you may begin purchasing cryptocurrencies via exchange platforms such as the ones listed above.
- You can Buy bitcoin with debit or credit card or even wallets like Venmo or PayPal.
- If you have any difficulty setting up a wallet, buying cryptocurrency, or have any other queries, you can always contact the Binance chat or Kraken support available 24×7.
HOW TO BUY FOM HIGHSTREETPHARMA USING CRYPTO?
After you’ve set up your wallet,
- Go to HighStreetPharma’s checkout page and select the ‘Pay with BTC/Altcoins (15 percent OFF)’ option.
- After you’ve selected your favourite cryptocurrency, you’ll be directed to a page with Highstreet pharma’s payment ID and a QR code. Simply copy the payment ID.
- Go to Binance or Kraken’s websites and paste it into a dedicated box as you choose to transfer funds, or scan the QR code and enter the amount value of your order (+ transaction fees).
- Click the send button, in a matter of seconds, the funds will be withdrawn from your wallet to complete the payment for your transaction with HighStreetPharma.
IS BITCOIN TRANSACTION SAFE?
Several factors contribute to the protection of bitcoin from theft. The production and transfer of a cryptocurrency is controlled by cryptography, and the protocols that underpin bitcoin have shown to be reliable. Because there is no single point of failure, Bitcoin’s use of distributed ledger technology (DLT), also known as blockchain, provides owners with a record of all their transactions that cannot be tampered with. Because of Bitcoin’s DLT openness, all transactions are visible to the public, but the parties involved remain anonymous, removing the risk of a data leak that exists in traditional banking systems.
ARE BITCOIN TRANSACTIONS ENTIRELY FREE?
Because Bitcoin transactions are conducted without the use of third-party middlemen, they do not incur exorbitant fees or service expenses. However, exchange platforms do charge minimal transaction fees for the services they provide. It is usually a good idea to check the website’s fee schedule page for transaction costs and add them to the total amount when transferring funds.