Funding your bitcoin wallet
Once you have installed your bitcoin wallet you need to get some bitcoin from an exchange so you have something to spend. There are many bitcoin exchanges where you can buy bitcoin
to add to your wallet.
If you want to know more about how to get a wallet click here
The bitcoin exchange will convert your money into bitcoin and it will end up in your wallet. You can then spend it at sites such as InhousePharmacy.vu
Please note that this is just like going to a money exchanger. You now have bitcoin funds, but you have not spent it yet.
You can, depending on the Bitcoin Exchange, pay for your Bitcoin with:
- Gift Cards
- Cash Deposits
- Online Transfers
- Debit or Credit Cards
- Paypal
- Western Union
For information about the various exchanges and how to fund your Bitcoin wallet we suggest you visit:
https://www.bitcoin.com/buy-bitcoin
or
https://www.buybitcoinworldwide.com/
Typically the process involves registering with a Bitcoin Exchange, where they will most likely ask you for some form of government issued ID, such as a driver’s license or a passport.
Some exchanges may also ask for a copy of a recent utility bill to confirm your address is correct.
The reason why the exchanges need to ask for this information is for them to comply with various international anti-money laundering laws, a responsibility expected of all financial institutions.
Tip: Be prepared in advance and have digital photographs of your driver’s license (both sides), passport or other government issued ID, and a recent utility bill ready
to upload before you register.
Once you have registered with a bitcoin exchange you may proceed to buy your bitcoin.
Bitcoin is a currency and like all other currencies, subject to exchange fluctuations. Unless you are experienced in trading currencies we suggest that you only obtain enough
bitcoin to comfortably cover your order with a little to spare.
Let’s say your order comes to $40 you should probably buy $45 worth of bitcoin to cover any minor fluctuations that may occur. Sometimes the fluctuations will work in your favor and sometimes not.
You can view live pricing of Bitcoin at https://www.cryptocoinsnews.com/bitcoin-price/
If you go to an exchange to buy bitcoin and it differs from the latest pricing by more than say 5% then it may be best to look for another exchange that offers a better rate.
When you register with a bitcoin exchange the process may take anywhere from the same day to several days. Likewise, once registered and depending on the exchange you are using,
the process of obtaining bitcoin for your wallet may also take some days. Once the process is completed bitcoin will appear in your wallet and you will be ready to go shopping.
You need to have a funded bitcoin wallet before you can shop with us. If your order is urgently required you may be best to use an alternate payment method until you have set up and
funded your bitcoin wallet.
Paying by bitcoin at InhousePharmacy.vu