Bitcoin is a system which uses digital currency as a payment. VISA/MasterCard cards also make electronic payments, but in this case fiat currency acts as a means of payment so each transaction is processed by the bank to which the card is linked.
The point of cryptocurrency is that it exists only in the network space. It means that due to decentralization, Bitcoin is not tied to a specific state. The cryptocurrency has its own price, which depends on request — when the number of buyers grows, so does the value of the cryptocurrency.
Bitcoin is not tied to the economic situation in Georgia and doesn’t depend on the market situation. All the transactions processing operations are carried out using the network, which allows users to make transfers around the world more efficiently and spend less money in relation to the amount in Georgian lari.
In our guide, we will tell you how to buy bitcoin in Georgia easily and safely.
In order to buy bitcoin, it is not necessary to register on the Itez website. In a handy calculator, you can quickly calculate the cost of BTC based on the amount you plan to use for payment. The smallest purchase amount in dollar terms is 30 USD. By the way, the same applies to the euro - the starting purchase threshold starts at €30. Well, in our instructions, as promised, we will go through all the stages of purchase BTC for dollars step by step.
After converting the currency to BTC, you will see the final result in the "You Get" field and on the "Buy" button. Click the button and enter your email address in the following window.
Confirm your email with a 6-digit code sent to the previously indicated e-mail and click the "Verify" button.
Specify the purchase amount in the Itez dialog box. Copy the recipient address - your bitcoin wallet - from the “Accept” section.
Important: you should not manually copy the bitcoin wallet address. The blockchain system does not give any information about bitcoin addresses problems, and if an error occurs during manual entry, all the buyer's funds may be lost.
For example, this is how the copy address button looks like in the Exodus wallet:
After copying the bitcoin wallet address, paste it into the dialog box.
Check your data — it is important to make sure that the address is entered correctly.
After pushing the “Card details” button, enter the required card information: card number and expiration date, the cardholder name and CVC-code — three numbers on the back of the card.
Push the “Pay” button and enter the one-time bank code in the following window. As soon as the transaction receives 6 confirmations in the blockchain network, your bitcoin wallet balance will be top-up.
Important: the transaction will wait for confirmations for time. After six network confirmations, bitcoin will be on your e-wallet; when buying with Itez it will take for about 15 minutes. This is a very good speed for the Bitcoin network since transactions in the most popular blockchain network are somewhat slower than in other networks due to its properties and high load.
Banks in Georgia have won the trust of the clients thanks to strong banking policies that have reduced the possibility of insolvency to a practical minimum. Banks open personal and corporate accounts not only for citizens and residents of the country, but also for non-residents, as well as companies that are registered outside the state.
The biggest part of accounts in Georgia falls on the country's several main banks — Bank of Georgia, TVS-Bank and Liberty Bank, which bring 76% of income to the financial system. Despite this, clients of any bank in Georgia are required to receive a high level of service during buying cryptocurrency — not only the client is focused on this, but also the state that is ready to occupy leading positions in the world market.
The main types of credit cards are widespread in Georgia, that include American Express, Visa and Mastercard. Any world standard credit and debit cards available in Georgia are suitable for buying cryptocurrency through Itez.
Bitcoin has one important feature - decentralization. Having a private key and a seed phrase you will give your funds full safety since other clients have no opportunity to use your bitcoin. For full list of wallets, see bitcoin.org