If you are having trouble buying crypto with an iTunes gift card, this ideal guide will show you where to start to complete the process. Bitcoin, for instance, is not available as a method for buying iTunes gift cards on every major cryptocurrency exchange. It would be best to find the most suitable, if not the best platform to satisfy your buying and selling needs. That said, here’s how to buy crypto, especially bitcoin, with an iTunes gift card:
Sign Up on an Exchange
Now that you’ve found a suitable exchange, visit the website and register an account as a new user. You’ll have to provide specific information like your email address, username, and account password. Some accounts automatically generate usernames for beginners at this step.
The first authentication step will be verification of your profile using a code sent to your email. Some exchanges also use your mobile number to send a code via SMS to verify your account. It all rims down to your preference of the most convenient approach.
Identity Verification
After validating your profile, the second step is identity verification. Identity verification, commonly referred as K.Y.C, is very important parameter in the Crypto space. You’ll have to upload a copy of your identification card, driving license, or passport to purchase cryptocurrency. Every step of the verification process increases your credibility to buy more coins per trade and to increase your trading limits.
Get Your Digital Wallet
You might get three wallets depending on your cryptocurrency exchange. Use it to store Bitcoin, Ethereum, Litecoin, or other coin assets. Good for you if you don’t use a broker exchange as an intermediate between you and sellers. The later have their accounts on the platform and can set sale offers and quote prices, provided they meet the exchange’s requirements. Subsequently, buyers check out the offers and settle for the best.
Buy Bitcoin with iTunes Gift Card.
Navigate your account on an exchange to view several price quotes for Bitcoin. Select the iTunes gift card option from the lots of offers in the payment section. It would be best to pay attention to convenient sellers’ rates and settle for the most reliable one.
Get in touch with the seller directly to agree on the transaction details. If iTunes is acceptable, you provide the seller with your gift card code to receive digital coins into your wallet.
Is Buying Crypto with iTunes Gift Card Convenient?
Many people use iTunes gift cards to purchase top coins like Bitcoin and Ethereum. Nevertheless, the system has a few pros and cons to help individuals decide if they want to go in that direction.
Why should you buy crypto with iTunes gift card ?
- iTunes gift card is a safe payment option because personal card details are unnecessary.
- It’s a great way to spend your gift card if you’ve never used it before.
- The process of buying crypto is quick and straightforward.
- You don’t break the bank by investing your capital in unaffordable assets.
- iTunes Gift Cards are easily available all over the world.
- iTunes Gift Cards can be bought with local currency, in fiat.
- iTunes Gift card can be used as a store of value for long period before their expiration date. Thus you can buy bitcoin with iTunes gift card after long period of time, without losing the value of the card.
Why should you NOT buy crypto with iTunes gift card ?
- Using iTunes gift card to buy crypto is relatively more expensive and it costs approximately 5-20% more.
- Many people don’t use gift cards to purchase crypto, hence these type of offers are not easy to find.
- Most brokers don’t accept gift cards as payment options for buying cryptocurrency and someone needs to find a P2P Crypto Exchange for this type of trade.