bitcoin payment method

Converting Cash from Neteller to Bitcoin

We’ve all heard about Bitcoin. This payment method became public in 2008, but people were hesitant about using it at first. However, in recent years this cryptocurrency became more popular and nowadays, it is being used freely by people all around the world.

Since Bitcoin is an electronic currency, you can use it in one of two ways: either you exchange it for other currencies, or trade it for goods and services. To do that, you have to own a Bitcoin account that will allow you to deposit and withdraw cash however you see fit.

With every passing year, more and more services allow you to use Bitcoin as a payment method, and nowadays you can connect your Bitcoin account with all sorts of online transaction methods, including Neteller.

Before you try to transfer cash from Neteller to Bitcoin, learn a bit more about the process and why people prefer using this type of currency over printed bills.

How and Why You Should Use Bitcoin

Understanding how Bitcoin works is not an easy task, especially if you are not a tech person. However, you don’t have to be an expert in technology to open a Bitcoin account and use it to your advantage.

You can find simple instructions on the Bitcoin website that will help you open up your account, with strict guidelines that will help you complete your transactions with minimal effort.

Once you set up your Bitcoin account, you can create a Bitcoin address and send it to the person you want to conduct business with. You can use every address once and once alone, so if you want to make multiple transactions – you can to create as many Bitcoin addresses as necessary.

If you’ve heard about block chains, miners, and private keys – somebody probably tried to explain how the entire system operates to you.  Generally speaking, Bitcoin operates as a direct transaction method between two users without any mediation between the two parties.

Complex algorithms support the entire system, and they allow every user to make transactions without disclosing any personal information, with low risk of fraud or theft, and since it is practically untraceable – it is one of the safest ways to conduct business.

Whatever your reasons for using Bitcoin are, you should think about how you purchase your Bitcoin currency and what you can do with it in the long run. Luckily for you, there are many e-wallets you can use to exchange Bitcoins for other services, including the popular Neteller.

What to Do

If your heart is set on using Neteller as your connection to your Bitcoin account, you will find clear instructions that will guide you through the Neteller and Bitcoin deposits and withdrawals processes.

The best part about Bitcoin is that every transaction can be completed in a blink of an eye. However, if you change your transfer request in the middle of the process, you will have to wait for the action to be approved by the Neteller team.

To transfer cash from your Bitcoin account to Neteller in order to exchange the digital currency for something concrete, you can access your Neteller account and under the “Money In” category, you will be able to find the Bitcoin option.

It should be noted that there are some Neteller withdrawal limits as well as deposit limits, and you have to be aware of them before you make any transactions.

If you use an unverified Neteller account, your deposit options will be limited. You will be required to complete the verification process to keep transferring cash– so take this info into consideration when you plan things.

Also, Neteller won’t charge you if you exchange Bitcoin for AUD, USD, EUR or GBP, but if you use any other sort of currency – you will have to pay a 3.99% fee.

Apart from depositing cash to your Neteller account, you have the opposite action, and you can rest assures that this process is uncomplicated as well.

You can exchange your Neteller currency to Bitcoin through various websites that allow you to buy Bitcoins with Neteller instantly, including CoinCorner, BitPanda, and even Local Bitcoins.

All three websites allow you to complete your Neteller-Bitcoin withdrawals in a matter of minutes, even though you will be charged a considerable fee for every transaction you make.

All in All…

You can use the popular Bitcoin currency to conduct online transactions without much delay, especially if you link your Bitcoin account to a reliable e-wallet such as Neteller. If you want to transfer money in a safe environment, this is the route you should follow!