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How to buy bitcoin in Latvia

Latvia
Bitcoin

Bitcoin is a payment system that is generated by computers and is used instead of traditional currencies as a mechanism for uncontrolled settlements.

When paying with a credit or debit card or storing finances in PayPal or ApplePay, the user turns to traditional currencies and is directly dependent on events in the world and in the country. Unlike the euro, which became the state currency of Latvia in 2014, bitcoin is not tied to the economic situation in the country - it is completely decentralized and allows users to conduct transactions around the world, regardless of location.

How to buy Bitcoin on Itez:
step-by-step instruction
1.

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.

2.

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.

3.

Confirm your email with a 6-digit code sent to the previously indicated e-mail and click the "Verify" button.

4.

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:

5.

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.

6.

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.

7.

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

At the moment, a large number of financial institutions operate in Latvia, most of which are local banks, the rest are international branches. According to the rating, compiled by the size of profit and quality of lending, the following banks of Latvia are among the five leaders: Citadel is an authoritative credit union that offers services for opening accounts, issuing mortgage and consumer lending, as well as supervising credit cards; Latvijas Pasta Banka - with a universal set of services; ABLV Bank, whose services include lending to individuals, business financing, e-commerce, work with special savings for children and the provision of brokerage services; and Meridian Trade Bank - a bank with European capital and branches around the world.

Despite the diversity of banking systems, users of any financial institution in Latvia can receive a high level of service when making an exchange - first of all, the state itself is focused on this, which does not occupy the last place in the economy of the European Union.

Bank cards

Almost all credit and debit cards that are popular in Europe are accepted for payment. Most often these are Visa and Mastercard. However, any world-standard cards available in the territory of Latvia are suitable for purchase through Itez.

How to store bitcoin

An important feature of cryptocurrency is the high reliability of storing information. Having a private key and a seed phrase, the user can be sure of the safety of funds - an outsider will not get access to the cryptocurrency without the permission of the owner of the bitcoin wallet. A complete list of wallets can be found at bitcoin.org