Becoming a Bitcoin owner or miner is a wise move, especially as this niche is still in its infancy. It's making up big time at the moment. Even in used car industry. So we thought we'd put together a guide on all the best about bitcoin purchasing, investing, paying etc.
People have been investing, mining, purchasing, earning Bitcoin and using it as a payment since 2010. So, what is Bitcoin? Bitcoin is both a digital currency and an electronic payment network (where money is sent directly from person to person without middlemen). Bitcoins are stored in a digital wallet on your phone or computer. The underlying technology of this payment network, enabling bitcoins (or other digital currencies) to move is called the blockchain. The estimated daily transaction volume for the Bitcoin payment network is 136000 BTC (08/2018). Source: blockchain.com
Bitcoin is an innovative payment system with worldwide networking and basically it is a new king of money. You can buy almost anything with bitcoin. You can buy any products in the world including cars. Here we explain in details how to buy used cars from Japan and paying it by Bitcoin. One of the first companies who started to accept Bitcoin for car trade business is Beforward Japan.
So how do you get Bitcoins? There are a lot of bitcoin platforms out there and more are popping up all the time. So it is difficult to know which ones are worth for purchase of your first Bitcoins. Some platforms are great, some of them are alright, but tell you the truth majority are total crap.
However, you dont have to waste time. We spend hours upon hours checking the internet, meet ups, conferences to bring you only the best of the best. From hundreds of platforms, including those that Beforward itself provides in their website, we have chosen 3 best platform to purchase Bitcoins.
Most recommended international platforms are checked with green circles in the above picture. We have selected them based on our experience and business interaction. Specifically how simple are they. Whether they provide service to international customers. How easy can be purchased. How low is their commissions. How good they are for paying used cars from Japan.
Coinbase is one of the top Bitcoin processing services on the market. You can buy or sell Bitcoin as least as $100 USD. Coinbase has their own app for Android and iOS. They provide high secured offline storage. Digital currency stored on Coinbase servers is covered by insurance policy. Coinbase is also set to add more crypto coins to their platform in the near future.
But before you join please check the countries they support. There are only 33 countries in the list. For example even for Japan buy and sell is not yet available. We are certain that this platform won't be helpful to deal with Japanese companies, however we had to include this platform in this review and tell you about it because it is very famous platform and not mentioning about it here may create that our research was not thorough.
LocalBitcoins is a person-to-person trading site for Bitcoin. This platform allows users from many different countries to use their exchange platform. LocalBitcoins trade Bitcoins in 16304 cities and 248 countries including Japan and probably yours! On LocalBitcoins.com you are dealing with humans. Unlike centralized, stock-exchange-like, bitcoin trading sites, you make a trade directly with another person. This makes the process lean and fast, as there is no corporate overhead. You get your bitcoins instantly.
Also, LocalBitcoins.com can support every payment method its user community supports. For every transaction, LocalBitcoins.com offers escrow or transaction service to protect the buyer of Bitcoins. At LocalBitcoins.com, people from different countries can exchange their local currency to Bitcoins. The site allows users to post advertisements where they state exchange rate and payment methods for buying or selling Bitcoins. You reply to these advertisements and agree to meet the person to buy Bitcoins with cash, or trade directly with online banking.
CEX.IO was the first cloud-mining provider and is one of the most popular exchanges on the internet for marginal trading. CEX.IO offers cross-platform trading via website, mobile app, WebSocket and REST API, providing access to high liquidity orderbook for top currency pairs on the market. Instant Bitcoin buying and selling is available via simplified bundle interface. CEX.IO allows for the buying of Bitcoins for low fees via credit card. Customers can also purchase for free with bank transfers.
CEX.IO supports all countries, unless noted below. The following countries are restricted for credit card purchases: Iceland, Vietnam, Afghanistan, Algeria, Bahrain, Iraq, Kuwait, Lebanon, Libya, Nigeria, Oman, Pakistan, Palestine, Qatar, Saudi Arabia, and Yemen.
The following countries are restricted from buying with bank transfer: Afghanistan, Democratic Republic of the Congo, Côte d’Ivoire, Eritrea, Ethiopia, Guinea-Bissau, Haiti, Iran, Iraq, Kenya, Liberia, Libya, Guinea, São Tomé and Príncipe, Somalia, Sudan, Syria, Tanzania, Tunisia, Turkey, Vietnam, Yemen, Zimbabwe. Recent update on CEX.IO: Starting from January 28th CEX.IO no longer allows USD withdrawals so if you deposit/withdraw in USD stay away from this platform. Mostly this platform is recommended to countries with Euro payment area.
Bitcoin wallet (hardware).
If you are interested in using Bitcoin to make purchases and currently don't have a Bitcoin wallet, there is one very popular hardware we just could not leave out - Trezor. Trezor is Bitcoin wallet that allows you to safely store your coins offline.
Generally speaking, hardware wallets are often considered one the best ways to secure your Bitcoins for a number of reasons. Trezor is well-regarded & undoubtedly among the leaders in this category. Information stored online can be copied and stolen. Go offline. Store your coins with Trezor.
Hardware wallet is the safest way to manage & trade your cryptocurrencies. Even if you loose Trezor hardware, no need to worry. You can always recover access to your coins & assets from your offline backup within 5 minutes. Trezor is trusted by companies of all sizes:
And while dealing with Beforward here are few steps below on how to pay cars with Bitcoins. They are pretty simple:
Inform your decision to pay with “Bitcoin” to Beforward sales representatives.
Your sales representatives will issue a web bitcoin invoice for you.
Click the checkout button on your web invoice, then you will see the payment QR code.
If you are using a bitcoin wallet installed on your phone or tablet, you can make a payment by scanning the QR code with your wallet.
If, on the contrary, you are using a desktop wallet installed on your PC, you can specify the bitcoin address and amount to make a payment from the desktop wallet. (’Pay using Bitcoin Client’ button on the web invoice will help you with doing so.)
Bitcoin as a payment tool becoming popular not only for investment but as for buying and selling regular stuffs. In this article we discussed specifically on buying cars with bitcoins. One of the first companies who managed to adopt Bitcoin payment for car export business was Beforward Japan.
From many platforms we analyzed we have selected three: Coinbase, LocalBitcoins and CEX.IO. While each of them has its advantages and disadvantages, personally we would recommend to start with LocalBitcoins, while for security reasons we recommend to have offline hardware - Trezor
So, in this article we cracked whole system of purchase Bitcoin, selecting wallet, and use as the payment. We showed you everything step by step with links and advises. If you have questions or need to clarify things please leave comments below.