Hi there, in this article, I’m going to show you step by step, how you can buy cryptocurrency on Qcoin. We’re going to take a look at the different payment methods for different currencies. And we’re also going to take a look at the different fees that will apply for different payment methods. If you don’t already have a Qcoin account, I’m going to leave a tutorial down below in the description that will show you step-by-step how to set up your account from complete scratch.
So let’s start let’s now look at how we can buy cryptocurrency on Qcoin using our Fiat currency, which is US dollars, euros, British pounds, and so on. As I’ve already mentioned, Qcoin is a crypto-only platform, which means that you can’t really deposit your Fiat currency onto this account and then trade US dollars, for example, against Bitcoin or any other cryptocurrency on their exchange.
You have to purchase cryptocurrency using some payment method through their system, and then the cryptocurrency will be deposited onto your account. I don’t buy cryptocurrency on Qcoin because the options and the fees are just not favorable. I have better options on other exchanges. But I’m still going to show you how you could do it. So on the top left here, you can see the Buy Crypto option, and you can see three different ways.
Now, in my opinion, the only usable way is the credit card, or debit card option, which also includes for some countries, Apple Pay and Sipa payments. And then you also have the P2P network, which means that people can offer their cryptocurrency for a specific price that they’re willing to sell for. And then if you would want to buy from them, you would have to pay them directly using PayPal or some other payment gateway.
Now, in my opinion, this is also not usable because when we go to P2P, then we can see there is a market, but there are very few people using this. So when we click on… When we go to Buy and maybe, for example, go to BTC, to Bitcoin, we see there are only three people offering Bitcoin at a very low volume, a very little amount for a too high price. So when we go to coinmarketcat, where we see the average price here, it’s 56.3 thousand on most exchanges, and they’re offering it for 58,000.
And the same thing to selling. So if people are willing to buy Bitcoin for a tool low price. So I wouldn’t use the P2P network. I don’t think it’s usable because nobody’s using it. And then you have also the fast buy, which is also not usable for me. I try to use this, but it somehow doesn’t work for me. Maybe it does work for you. They say one click to trade, zero fees. This was not the case for me. I wasn’t even able to use some payment methods. So the only thing that is left here is the credit and debit card options.
So we’re going to click here, and then we can decide on what currency you want to use to buy cryptocurrency. Now, the cool thing with Qcoin is that you can use a lot of different currencies to buy cryptocurrency. So you’re probably going to have to pay more fees than in other exchanges, but maybe you are not able to buy cryptocurrency using US dollars or euros. So you’re going to have to use Qcoin’s credit debit card option to use your specific currency.
So let’s say we would want to use US dollars and we would want to buy using 1,000 US dollars and we would want to buy Bitcoin. So you could choose the cryptocurrency here that you want to buy. Now, there are these three options depending on your country. Maybe they are not all three.
But in Europe, there’s also the Sipa option. Now, this is the cheapest way that you could go ahead and buy cryptocurrency. So let’s click on Sipa, for example. Then we can see that with the third-party provider, Simplex, we could get 0.01742271 BTC for spending $1,000. So let’s go to USDBTC and see how much that is in US dollars.
So let’s copy this here, and paste this right here. So here we would get Bitcoin worth 983 dollars. So this is a lot better when we compare it with this payment method, which is simply a credit card. This way we would get only 0.01689, which would be 953 US dollars worth of cryptocurrency.
So if you can, I would use the SIPA option, which is available for most countries in Europe. And this way, you’re going to save the most amount of fees compared to the other options, which are credit card and Apple Pay here. But for most currencies here, the only available option is probably going to be Visa Mastercard. So there you just have to type in the amount that you want to spend and also decide on what currency you want to buy. So let’s say you want to buy light coins using TCS.
I don’t really know what currency this is, but they only have a credit card available and they also only have one payment channel. So I’m not going to walk you through how to do this because, for each payment channel, it’s going to look a lot very differently. And you also have to do an identity verification for I think pretty much all of these payment channels.
And I don’t want to do that just for this tutorial. But if you want to do this, then you have to go down, click on Confirm, actually type in the amount you want to spend, click on Confirm, and then they will walk you through the entire process of creating an account with the payment channel, verifying your identity, and then eventually carrying out the payment using your credit card information.
And then once the payment has gone through, the cryptocurrency will be deposited into your Qcoin account. And then you can go to assets right here on the top right. And here you’re going to find them probably in the main account right here.
nice information dear thanks