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Monday, May 16, 2016

Buying E-Currency Online | Dollars & Bitcoins

Sometimes we need to purchase e-currency online in order to complete certain transactions. This post will guide you on how to go about it with ease. The e-currency this post will focus on is dollars and bitcoins. So we will be making use of perfect money and blockchain.info as our e-wallets accounts.

To buy  dollars (e-currency) online you need to open an account with a currency exchange agent in your country who sells dollars and a also own perfectmoney account.

Let's start with perfect money

Click here to go to perfectmoney website. Click on signup.


Fill the registration form accurately. You may need to click a confirmation link on your email you used in registering in order to verify your registration after successfully submitting the form

Once registration is completed. Try to login using the member ID code given to you upon successful registration. Enter the turing number accurately and click authorize



An email should be sent to you in a matter of seconds containing the pin code that will be entered in the box above. So kindly check your email and copy the pin from there. The pin is usually located towards the bottom page of the mail. See below.




the pin is random and will be changed every time you try to login. So don't bother trying to save this pin. Once logged in, check the right part of the website for your account number as you will need it when you want to buy dollars. The perfectmoney account number starts with the letter “U” followed by some figures. Copy-save it or write it down somewhere you can easily locate it. See below 




Now you need to get some dollars into your account. For those outside Nigeria, try do a google search of this in your web browser "buy dollars online in (enter your country)". If done correctly, you should see a list of financial clients from your country who render the service of selling dollars to you. So signup with a trusted one. Select to buy dollars and and choose perfectmoney dollars. You will need to enter your perfectmoney account number while doing this. 

For Nigerians, There are several online Nigerian agents where you can purchase dollars for naira. But I use naira4dollar personally (tested and trusted by me). So I will use them for this post. Click here to go to naira4dollar website. Click register on their website



Fill in the necessary details in each tab as accurate as possible.

 



As usual, go to the email you registered with and check for a confirmation link. Click the link to verify your account. Now log in to your naira4dollar account. On the left corner after logging in, click on buy



You get a list of licensed foreign currency funding options to choose from. Luckily for us, we registered for a perfectmoney account and its right there in the options. So click on perfectmoney sharply.



Fill in the form. When you input the amount of dollars you want to purchase, the amount in naira is automatically calculated for you. Remember that our perfectmoney account number we saved somewhere? Now is the time to input it into our dollar purchase form here. Your PM account name is the name of your perfect money account. The one you entered when you registered. In choosing how you will pay, click the tab for a dropdown of payment options. I have internet banking access on my GTbank account. So I select the first option (local transfer/pos/atm transfer to gtb) from the dropdown. If you use other banks aside GTB, search and make use of the best process of making payment




After clicking proceed, I’m taken to a page where I see the account number I’m to deposit my money into. (If you have internet banking access and app on your phone. Good for you. Otherwise, you may need to enter a banking hall to make deposit). So I follow the instructions on that page and deposit the exact amount (in naira) I’m meant to purchase. The payment process usually takes maybe 1 or 2 hours or much less sef, if purchased within working hours (usually between 8am – 6pm on weekdays). Outside this period, it can take a bit longer so please be patient.

Check your perfect money and your dollars should be lounging there.


Now for bitcoins.



Bitcoin is an expensive form of e-currency, a bit similar to perfectmoney, payeer, payza, STP and the rest however, it is more expensive. 1 bitcoin, as at the time I’m writing this post is equal to $460. And it usually keeps increasing in value most times. You must be wondering how the hell you are going to exchange that kind of money for a currency you just heard of. Well, not to worry. Because of its high value, we can buy it in units. That is, you can purchase lower than 1 bitcoin. For example, if you have $100 and want to exchange it for bitcoin, the amount you will get in bitcoin after exchange is 0.22 bitcoin unit. Got it now? Great.



Now there are several websites that handle bitcoin wallet accounts but the one I use at the moment is www.blockchain.info. Their signup process is easy. Just register with your email address and put a password that must be security imbued using at least 1 capital letter, 1 number and 1 other character. Follow the remaining instructions carefully and you should be fine.




We have our bitcoin wallet now. We need to pump some bitcoin money into it next. You can buy bitcoin units from your local exchange partner in the same way you bought perfect money above. When you go to naira4dollar page this time, after clicking on buy, instead of choosing perfect money currency, just look to the far end of the page and select bitcoin. Fill up the drop down form including your bitcoin address and then submit. Conclude the necessary protocol and your bitcoin wallet should be funded in no time. 










There is also a way you can get bitcoins into your wallet without paying for it. Awesome right? There is a dedicated post for that. Click here to go there now. 

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