Cryptocurrency is a currency of exchange on the web. Many Internet users own and regularly buy, sell and even trade cryptocurrency. The most common is the Bitcoin, which takes a large share of the market. Just behind we find Ethereum (ETH), whose value continues to rise gradually.
As a reminder, Ethereum is considered to be the first platform to have set up smart contracts. It is also considered to be the blockchain which uses the most efficient built-in programming language, allowing developers to design decentralized applications. In this context, Ethereum’s cryptocurrency, Ether, is used in purchasing transactions.
Buying ethers can be done in several ways, depending on the payment methods offered by the trading platforms. The purchase is usually made by wire transfer or credit card. However, when it comes to finding a platform that allows transactions through Paysafecard, it can be even complicated; at the time of writing this article.
Paysafecard: use prepaid for its ETH?
Being one of the most used payment methods in the world Regarding the prepaid, Paysafecard is a good alternative for those who do not want disclose their banking information online. Before going into details, it is still necessary to understand how this famous prepaid card works.
What should I know about Paysafecard?
Paysafecard belongs to Paysafe group, which also owns Neteller and Skrill. Initially launched in European countries, the service is now used around the world and is positioned among the global online payments giants. The company currently based in Vienna (Austria) offers prepaid Mastercard Paysafecard cards. Its professionalism and simplicity are among its great assets, which certainly explains its current success.
This world leader continues to increase its power and aims to provide a local service by offering a large number of points of sale around the world, whether in:
- Tobacconists ;
- Gas stations ;
- Grocery stores;
You can use the Paysafecard website to find a point of sale near your place of residence.
Note that it is also possible to get a Paysafecard online. By going to the company website, you can pay your coupon by credit card or by bank transfer. You will thus receive a 16-digit PIN code that you can use.
Pros and cons of Paysafecard
With Paysafecard, the risks of piracy are minimal. Indeed, you will not have to enter your bank details on the online platform you want to use.
Conversely, Paysafecard can only be used on few cryptocurrency buying platforms. Although it is a means of payment ensuring the protection of your data, there is hardly any platform that accepts prepaid cards. So you will have to redouble the steps to use your prepaid card.
Buy Ethereum (ETH) on LocalCryptos
At the time of writing this article, LocalCryptos is here single platform allowing you to purchase Ethereum directly with your prepaid card. However, it is not certain that you will directly find a seller there that accepts Paysafecard. But it’s still worth a try!
It’s about a peer-to-peer platform. The platform only serves an intermediary putting you in touch with a cryptocurrency seller. Keep in mind, therefore, that all the responsibility lies with you if a problem arises, which means that you must take all the necessary precautions. On this platform, three cryptos are available : Bitcoin, Litecoin and Ethereum.
Start with register on the platform. Go to the registration page. The platform will then ask you for some information:
- A username;
- A password ;
- Your email ;
- A Captcha to validate.
Once your account is created, you can either try to find a seller via custom search, is create your own ad. In both cases, the payment method concerned by Paysafecard will be “Other”, because the payment method is not included in the platform drop-down list.
If you can’t find a seller’s listing that accepts Paysafecard, why not create one?
Here’s how to create your own:
- Click on ” Offers “ ;
- Go to “Create a new offer”. You will then be redirected to the page for creating your offer;
- Select the cryptocurrency you want to buy as well as the location you want to display;
- Choose “Other” for the means of payment, and the Euro for the currency;
- Regarding the percentages, we advise you to keep it simple, that is to say what the platform tells you. In terms of limits, it depends on what you are willing to spend;
- For the title, indicate that you are paying via Paysafecard. You can give more details in the box just below;
- Set or not a time in the day;
- Choose who can open a business with you;
- Finally click on “Confirm details”.
At this point your offer will be visible to internet users on the platform. If someone decides to open a trade, then you will be alerted and you can chat with that person. Remember that on LocalCryptos, a lot of information, including your discussion, is encrypted, and are therefore not visible to the creators of the platform. We therefore encourage you to take all your precautions.
How does a trade on LocalCryptos work?
The principle on LocalCryptos is simple: your ETH seller places their cryptocurrencies in a “Escrow account”, which serves to keep them during the transaction. This one guarantees your funds, but also cancellation of the transaction for the seller in case of dispute.
You will then be responsible for pay the seller directly without going through the platform. Once the purchase has been made, all you need to do is inform the platform, and therefore the seller, that you have made your transfer. The latter can then verify, then accept the transaction, which will then transfer the ETH to your account.
Important: Never pay your seller before the latter has placed the cryptocurrencies in the escrow account.
Buy Ethereum on eToro: Go through an e-wallet!
If you prefer to use a safe shopping platform that is part of the Regafi, then choose eToro. Unfortunately, the platform does not directly offer Paysafecard among the means available. However, there is a way to get ethers with your prepaid card: use it to credit an e-wallet ! Indeed, eToro accepts two online payment services belonging to the same group as Paysafecard, Skrill and Neteller.
Credit your digital wallet
Choose between Skrill and Neteller, and Create your account. You will then need to make a deposit of funds on this account with your Paysafecard coupon. You will then have credited your e-wallet account.
Create an account on eToro
Now let’s move on to the shopping platform. On the main page, click on one of the calls-to-action of the platform to open the registration page (such as “Join now”). To create your account, you will need to enter:
- Your first and last name;
- Your email ;
- An account name;
- A password ;
- Your phone number.
Also, you will have to accept the T & Cs, Risk Disclosure and Policies of the platform.
Our advice: To take full advantage of the platform, we recommend that you directly verify your identity on the platform. You will need to provide Additional Information and send a copy of identity document.
Buy your ETH
Now that your account is created, you can proceed to purchase your cryptocurrency. First click on the blue box “Deposit of funds” to deposit money into your eToro account. Remember to select the e-wallet you have chosen. As this is your first deposit, it cannot be below $ 200, either around 190 €.
Once your deposit is made, go to “Markets”, select “Cryptos”, then “Ethereum”. On the opened page, click “Invest”, enter your amount, and complete your purchase with “Open position”.
What to remember
At the time of writing, there are few platforms offering Paysafecard as a payment method. Even eToro, one of the largest shopping platforms offering a large number of payment solutions, does not allow prepaid cards. On this platform, it will therefore be necessary to be satisfied with one of the digital wallets belonging to the same group.
Thus, to buy your ETH tokens directly with Paysafecard, you will have to rely on a platform that puts you in direct contact with a seller who will accept your means of payment. For that, LocalCryptos will know how to help you.
Like PayPal, Paysafecard is a payment method that does not require you to enter your bank details. Yet it would seem that these advantages, ironically, are disadvantages when it comes to buying cryptocurrency. To see how to buy ETH with other payment methods, check out our guide.
From Romain: Source link