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How to buy Bitcoin

Do you need help buying Bitcoin? No problem, we stand ready to assist! Every day, SATOS strives to make buying and selling cryptocurrencies as simple as possible. After all, trading concerns your money, which is why it is vital that you are well informed and act safely. You can reach our team through the live chat, located at the bottom of this page.

What is the best way to buy Bitcoin using SATOS?

Step 1 – Create a Bitcoin wallet

SATOS has tried to make buying Bitcoin as easy as possible for you. For instance, you do not need to create a SATOS account to trade with us. The only things you will need to buy Bitcoin from us are a Bitcoin wallet and enough money on your bank account to pay for your order. You need a Bitcoin wallet to be able to receive the Bitcoin you have bought from us. You can compare a Bitcoin wallet to a digital bank account, with the caveat that you have complete control over it.

Step 2 – Place a Bitcoin order

Placing an order is straightforward once you have obtained a Bitcoin wallet. The only thing you need to do is to enter the amount of Bitcoin you would like to buy from SATOS. We will then provide you with a real-time exchange rate to show you how much your purchase will cost in euros. Click on ‘Place order’ if you agree with the proposed rate. The only information we require of you in the next screen is your email address and your Bitcoin recipient address (the address displayed in your Bitcoin wallet).

Step 3 – Paying for your Bitcoin

Next up is paying for the reserved Bitcoins. SATOS allows payments through iDEAL, Bancontact, or SEPA. We do advise the use of iDEAL if possible, as it is the fastest payment method. Once you have paid for your order, we will safely reserve your coins and prepare them for depositing. You can now specify the wallet address you want to send your coins to.

Step 4 – Verification

Alas, even SATOS is obligated to follow up on verification procedures as after you have placed your order, we will ask you to briefly verify yourself. We will thoroughly explain our verification procedures on your personal transaction page as well as indicating which procedures apply to you. Do not fret, it is not rocket science and if you are curious about what our verification procedures are you can always check our current verification methods. Once you have handed in the specified verifications, our compliance team will do their best to quickly assess and verify your documents, after which they will process your order as soon as possible.

Up-to-date with our verifications? Then we will process orders to known addresses almost instantly!

Do you need help buying Bitcoin? No problem, we stand ready to assist! Every day, SATOS strives to make buying and selling cryptocurrencies as simple as possible. After all, trading concerns your money, which is why it is vital that you are well informed and act safely. You can reach our team through the live chat, located at the bottom of this page.

At what price rate should I buy Bitcoin?

The Bitcoin exchange rate fluctuates heavily, even on a single day. It is almost necessary to have nerves of steel when buying Bitcoin. Before you start buying Bitcoin or other cryptocurrencies, it is vital that you are aware of the risks it entails. The mere fact that the Bitcoin rate has skyrocketed in the past does not provide any guarantees for the future.

It’s best to regard Bitcoin as a promising startup. Bitcoin carries enormous potential, but as of now, nothing is certain yet. Even though we have already witnessed a couple of significant Bitcoin hypes, we shouldn’t forget that the coin has only been around for ten years. And although there are massive profits to be had, the same can be said of the risks. Therefore, you should only invest with money that you could do without.

At this moment, Bitcoin is still by far the most popular coin on the crypto market. It boasts an unmatched user base and also offers the largest network of all cryptocurrencies. Nevertheless, alternatives are rapidly popping up. It is hardly a fact that Bitcoin will still be the most popular coin ten years from now. If you are planning to buy Bitcoin, it is advisable to keep yourself informed about all these developments. And even though it may seem unlikely that Bitcoin will ever be dethroned, it is also far from impossible.

Why do people buy Bitcoin?

  • People invest in Bitcoin because of the enormous rate fluctuations. You can win a lot of money in no time, but you can also lose as much! Always check the current Bitcoin price rate before you buy Bitcoins.
  • People opt for Bitcoin because it allows them to make payments independent from banks and other financial institutions.
  • People also buy Bitcoins because it was the first decentralised cryptocurrency; it launched in 2009. And indeed, Bitcoin is still the most popular cryptocurrency available.
  • Bitcoin also remains a popular choice because it boasts by far the largest user base of all cryptocurrencies.
  • Buying Bitcoin has become fast and easy nowadays, also due to platforms like SATOS allowing iDEAL-payments.
  • Finally, people invest in Bitcoin because it has the most decentralised blockchain with the highest number of participating nodes.

Always use your own Bitcoin wallet

Bitcoin stands for financial sovereignty: the belief that people should be in charge of their own assets. At SATOS, we agree with this vision. Therefore, we have chosen not to manage any of our clients’ credits. We consider it essential that our customers own their own wallets, and that they retain complete control over their well-deserved savings. Are you not yet in possession of a Bitcoin wallet? Creating a wallet is simple and can be arranged in no time! We explain this process step-by-step on our Bitcoin wallet page.

What are some of the differences between Bitcoin and Ethereum?

  • Bitcoin was launched with the purpose of creating an independent payment method. It aimed to become an alternative to money issued by state institutions. Ethereum, however, acts as a decentralised platform that hosts applications.
  • In contrast to Ethereum, Bitcoin has set a limit to the number of coins that will ultimately be issued. This limit amounts to 21 million coins. The maximum amount of ethers that will be released has never been stipulated. Hence, the currency will forever expand.
  • Bitcoin also currently processes transactions less fast than Ethereum. The Bitcoin blockchain can currently handle about seven transactions per second. Ethereum’s blockchain can process about fifteen transactions per second.
  • Finally, Bitcoin has already proved its value as a niche payment network on the financial markets. Ethereum, however, is still in an earlier stage of development. It remains dependent on the development of applications on the platform.

Why do people use SATOS to buy Bitcoin?

  • Speed: transactions are processed nearly instantaneously (also during weekends)
  • Reliable: SATOS has more than five years of experience buying and selling Bitcoin
  • Support: SATOS offers live assistance and support through chat and social media, seven days a week!
  • Secure: you will always remain in charge of your own crypto assets
  • Straightforward: we offer fast and secure payment with iDEAL, Bancontact, and SEPA

We appreciate our customers’ feedbacks! Here’s what some of our customers say about our work Trustpilot.

Can I also sell Bitcoin at SATOS?

Yes, certainly! SATOS offers both selling and buying services for Bitcoin. If you want to sell Bitcoins and receive euros in return, you will only need to send your coins to the address we provide you with. As soon as we have received the Bitcoins, we will transfer your payment to your bank account!

Wondering what other cryptocurrencies you can buy and sell at SATOS? Take a look at these pages:

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Can I also sell Bitcoin at SATOS?

Yes, certainly! SATOS offers both selling and buying services for Bitcoin. If you want to sell Bitcoins and receive euros in return, you will only need to send your coins to the address we provide you with. As soon as we have received the Bitcoins, we will transfer your payment to your bank account!

Wondering what other cryptocurrencies you can buy and sell at SATOS? Take a look at these pages:

Bitcoin is not anonymous

In contrast to what many media proclaim, protecting your privacy is also a key concern when using Bitcoin. The Bitcoin blockchain serves as a public network, which means that all saved transactions are visible for everyone. Therefore, all network users can trackback how much has been transferred from one wallet to another, which ultimately also enables someone to find out a particular Bitcoin wallet’s balance. It remains impossible, however, to trace a user’s true identity through publicly accessible data. Then again, if a user voluntarily shared his/her details during a transaction, this could compromise his/her identity. So indeed, be aware that you remain responsible for your own privacy.

Bitcoin transactions are irreversible

It is not possible to undo Bitcoin transactions. As a recipient, you can (voluntarily) decide to send the money back, but you cannot revert the transaction. This is one of the reasons why it’s recommended to only transfer Bitcoins to organisations and individuals you know and trust. A Bitcoin address is both long and complicated, which is why we advise Bitcoin users always to copy-paste this address when making a transaction. The chances of you making a mistake when manually re-typing the address are quite significant. Fortunately, more and more bitcoin wallets start to offer features recognising typos. This blocks the system from completing a transaction to an invalid address. We expect more of these kinds of security-oriented features and services to appear in the near future. Until then, it is advisable always to double-check the validity of a Bitcoin address before you use it to receive Bitcoins.

The Bitcoin exchange rate is volatile

At this moment, Bitcoin’s value (and pricing) remains highly volatile. Its value falls and surges much faster than regular investment products. This is mainly due to the early stage of development the coin finds itself in. The trading markets are also not yet liquid enough. Because of the current instability and pricing, it is unwise to, for example, invest all your savings in cryptocurrencies like Bitcoin. It remains a high-risk investment, which is why you should never invest more money in Bitcoin than you can afford! Would you like to know more about Bitcoin pricing dynamics? Consult our Bitcoin price analysis to find out more about the factors driving the price of bitcoin.

Should I use my own bank account to buy Bitcoins?

Yes, you should. If you insist on purchasing Bitcoin using an account that is not yours, we do require written authorisation. In this case, contact us in advance.

Can you transfer my Bitcoin order directly to a cryptocurrency exchange?

As can be read in our terms of use, we can unfortunately not guarantee that your cryptocurrency will arrive if you send it directly to an exchange. We therefore recommend that you always use your own wallet. If you decide to use a wallet address from an exchange, keep in mind that it can sometimes take a little longer before your order is on the exchange in your wallet. Exchanges generally wait for a number of confirmations from the network before they adjust your balance.

Can I buy Bitcoin anonymously through SATOS?

Due to laws and regulations, it is not possible to anonymously purchase Bitcoin at SATOS. Read our KYC / AML policy for more information.

What are the costs of buying Bitcoin through SATOS?

The costs are on average 1-2% of the purchase amount. These are the costs that we charge for our services. These costs depend on supply and demand and differ per crypto currency. As a rule of thumb, the larger the amount, the more favorable the exchange rate!

Does SATOS also accept credit card payments?

No, we do not offer this possibility at the moment. We are continually trying to improve our platform, and credit card payments are one of the features we are working on.

Is there a limit to the amount of Bitcoin that I can buy?

No, but there is a limit in place of EUR 10,000 per iDEAL-payment. However, you can place multiple orders of EUR 10,000.

Is there a minimum amount of Bitcoin that I have to buy?

We retain a minimum purchase amount of EUR 100. This ensures that the transaction costs are proportional to the overall price.

How long will it take before I receive my Bitcoins?

We aim to process your order as fast as possible. We generally process orders within 15 minutes, depending on the banks and the speed of the network. Are you a first-time customer at SATOS? Then you will have to verify your bank account after completing your first order, which may cause a bit of delay.

Be prepared and do your research

There are a couple of things that you need to know when you are entering the Bitcoin business. One of these is that this form of digital currency allows for a type of money exchange that is different from the one that’s used by traditional banks. Therefore, it is essential that you inform yourself about the features of Bitcoin and the workings of this cryptocurrency. Always do such research before initiating significant Bitcoin transactions. In short: treat your Bitcoins in the same careful manner as you would handle the cash in your wallet. Sometimes, you even need to be more cautious! Also have a look at our cryptocurrency knowledge base. Here we have collected a number of articles for beginning cryptocurrency users.

Select a customary miner fee

It’s important to add a reasonable fee for the miners because this miners fee determines how fast the Bitcoin network will process your transaction. When you opt for a fee that’s too low, you may have to wait hours before your transaction is confirmed. It may not even be processed at all. Therefore, always check the current average fee when doing a transaction.

Consider your inheritance

Cryptocurrencies may form a significant part of your fortune. Therefore, always entrust someone within your close circle of friends with access to your Bitcoin assets. You could even share only half of the private key (your unique wallet access code) or half of your password with someone you trust, and inform a notary of the other half.

Make a backup of your wallet

When you use your Bitcoin wallet, always first make a backup. Most wallets offer a simple tool to arrange this in just a couple of steps. Is this not entirely clear to you? You can find more information about Bitcoin wallets on our dedicated wallet page. To make it easy for you, we have described a number of tips that can help you safely store bitcoin and other cryptocurrencies.

Install a good virus scanner

What’s particular about Bitcoin is that you act as your own bank. You can make transactions from person A to person B without the interference of third parties. You bear responsibility for managing your cryptocurrencies, but this also entails responsibility for securing them. That’s why you should always have a decent virus scanner installed. Prevent criminals and scammers from stealing your hard-earned cryptocurrency by reading more about known forms of bitcoin fraud.

I need assistance; what is the most convenient way to reach you?

We are available seven days per week from 10 AM to 9 PM. You can reach us through the live chat, by email, or by using social media. For frequently asked questions, please first check our support-page.

I would like to pay for my order with a business account. Is this possible?

Yes, this is not an issue, but be aware of the applicable tax legislation governing business investments. This concerns the profits of your company. For more tax information, please take a look at our tax page.

What does SATOS use my personal data for?

We understand that privacy is a key concern for you. Therefore, we drafted an entire page covering just this subject. Please have a look at our privacy policy page.

Which payment methods does SATOS accept?

Besides iDEAL, we also offer Bancontact and Belfius payment services. Do you prefer to pay using wire transfer? Then choose the ‘SEPA’ payment method.

Always double-check addresses before sending cryptocurrencies

Are you going to transfer cryptocurrencies? Like when selling Bitcoin? Then always copy the recipient address of the person you like to send the Bitcoin to. It is easy to make a mistake when re-typing the address. There is also nothing you can do afterwards to recover your payment. Indeed, if you accidentally send Bitcoin to a wrong address, there is a big chance you will never see your coins again.