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How to buy bitcoin in South Korea

South Korea
Bitcoin

In such a turbulent time as now, cryptocurrency is becoming a popular alternative way of investing funds. One way or another, digital currencies have touched the economy of any country in the world. The economy of South Korea turned out to be quite closely connected with the cryptocurrency. Digital money is very common in the country. Moreover, in South Korea there is a national digital currency, the digital won (CBDC), which was tested until January 2022 and in which benefits were paid during the coronavirus. If we talk about the legal side, there is an income tax on actions with cryptocurrency in the country, and by 2023 the government plans to introduce a Basic law on digital assets, which will maximise the use of cryptocurrencies.

The Itez service will allow you to buy bitcoin in South Korea from a bank card. You can pay for the purchase with a South Korean won. In just a few minutes after payment, the coins will come to the wallet. Below you will find detailed instructions.

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 50 USD. By the way, the same applies to the euro - the starting purchase threshold starts at €50. 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.

Verify 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.

8.

The transaction will first wait for confirmations from the blockchain network.

After six confirmations, the BTC networks will be yours for good; when buying from Itez, this will happen on average within 15 minutes.

This is a very good indicator for the Bitcoin network, since transactions are somewhat slower in the most popular blockchain network than in other networks, due to its design features and high workload.

Banks

South Korea is currently one of the most highly developed countries in the world. In many ways, this was facilitated by a stable banking system. A specific feature of the functioning of this system is a fairly high level of government influence in the financial sphere. South Korea is a good example of combining a strict hierarchy of financial organisations and clear control over the banking sector with the modern development of this area.

The ratings of the most popular banks in South Korea usually include Shinhan Financial Group (SHG), KB Financial Group, Hana Financial Group, NongHyup, Woori Financial Group, Korea Development Bank (KDB), Industrial Bank of Korea, DGB Financial Group, BNK Financial Group, Kakao Bank.

Bank cards

The Itez service allows you to buy bitcoin from a regular bank debit or credit card. We accept Visa, Mastercard, Maestro, American Express payment cards, also you can use virtual Google Pay, Apple Pay, Samsung Pay.

How to store bitcoin

Before you buy bitcoin, you need to create a crypto wallet to which the coins will be sent. You can choose any convenient service, because any one provides a high level of information protection. Be sure to write down and save the seed phrase in a safe place and enable two-factor authentication using a code to your mobile or email. You can get acquainted with the full list of wallets for storing bitcoins and choose the most suitable one on the official website of the cryptocurrency: bitcoin.org.

Itez
About Itez

Itez is an instant bitcoin purchase resource. Itez is a certified operator holding a license to sell and store cryptocurrencies of a financial regulator from Estonia. What does this give to customers?

First of all it is safety, since the operator is fully responsible for the risks. He conducts a compliance check, provides cryptocurrency on time and is always in touch with customers, if the need arises. Secondly, it`s efficient. The average time for receiving bitcoin to a client's account is a quarter of an hour. For comparison, let's take similar services Indacoin and MoonPay: when working with them, the time it takes for bitcoin to be credited to the client's electronic wallet will take for about an hour - it depends on how busy the network is. Thirdly, the service offers to customers a favorable exchange rate. Rate changes occur in accordance with the liquidity provider's information, therefore, the BTC value on the Itez website is as close as possible to the market value. The site has no hidden fees as the final BTC value is displayed instantly. If the purchase price does not exceed € 300, then the buyer does not need verification.

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