Following the collapse of the Soviet Union in 1991, many Ukraine nationals watched in disbelief as the country’s wealth and infrastructure was given into the hands of just a few people. Today, these people control the wealth of the economy with physical force and investment schemes. This keeps the much-needed money out of the hands of the majority of the country’s citizens. There is a small portion of people who are starting to believe that there is some hope in cryptocurrencies. There are many businesses who opt to sell their stock on the farmers market and accept various virtual currencies. Bitcoin uses peer to peer technology to function without banks.
Bitcoin is different from what you know and use in your day to day life. Before you start using Bitcoin you must get familiar with a few things. It lets you exchange money ad transact in a different way than you are used to. Due to this, it is important to get to know about Bitcoin before you begin using it.
Places to buy Bitcoin
You will need a Bitcoin wallet with an official Bitcoin Bank before you decide to buy since various exchanges require you to have one. Below are a few Bitcoin and cryptocurrency wallets to consider.
- Coinmama – It allows consumers in most countries to purchase bitcoin with a credit or debit card. You will be charged a 6% commission on each purchase.
- It works in most countries
- Has the highest limits for buying bitcoins with a credit card
- Reliable and trustworthy
- Has some of the highest fees among debit/credit card bitcoin brokers.
- Local Bitcoins – This is an escrow service which assists in matching bitcoin buyers and sellers. The most common method of payment is a cash deposit, but users are allowed to advertise trades for any payment that they prefer.
- Can be private, fast and simple
- In person, trades do not require personal details
- When you buy Bitcoin, payments can be made swiftly via cash deposit
- You need to beware of scams
- It is more difficult to buy larger amounts of bitcoins
- Slightly higher prices compared with regular exchanges
- Best Change – This makes it possible to buy bitcoins with WebMoney, PayPal, Skrill, BTC-e codes or cash.
- You can buy bitcoins from many places
- Does not actually sell bitcoins
- Kuna – This is the Bitcoin exchange in Ukraine. You can visit their offices and buy bitcoins with cash or online using your credit card.
- It is convenient to buy bitcoins if you live near the agency.
- Not convenient if you don’t have a credit card
Much like your physical wallet, Bitcoin is a virtual wallet and should be secured. It makes it possible to transfer money anywhere in the world in a very easy way. Bitcoin can provide high levels of security if it is used correctly. You must remember that it is your responsibility to implement good practices in order to protect your wallet.