How to Buy Bitcoin

If you’re still relatively new to crypto, the crucial issue that you’re probably facing right now is how to buy Bitcoin. To tell you the truth: it’s easy. Once you’ve done it, you won’t have to think twice the next time.

Why is that safe to buy bitcoins with credit card in Lumi Wallet?

Lumi has Hierarchical deterministic structure, it can only be entered using a 12-word mnemonic phrase, which is in sole posession of the user. The key of Lumi's security is transparency: we do not require any personal information for registration or transactions - your privacy is our priority number one.

How to Buy Crypto on Mobile App and Web Wallet

Not sure where to buy cryptocurrency using only your mobile phone? Get yourself a Lumi Wallet app and buy Bitcoin safely on your iOS and Android devices!

Step 1: Create an account and write down your mnemonic

Download the app for iOS or Android. Then create a PIN code and don’t forget to write down your mnemonic phrase. Your mnemonic is the only way you can restore your mobile wallet, so take this measure seriously. To do this, go to ‘Settings’ and tap on ‘Backup wallet’. Write down the 12 words on a piece of paper or your laptop, but not on your phone.

You can import your account with your mnemonic by choosing ‘Import Wallet’ when logging in.

If you’re using Lumi Web Wallet apart from mnemonic, you can import your account with your private keys or wallet file.

Step 2: Filling in the transaction amounts

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You are free to fill in the amount of USD you want to spend or the amount of Bitcoin you’re planning to buy: it works both ways.

Step 3: Adding your credit or debit card

The next step is adding your credit or debit card details such as card number, expiration date, name, and security code. You are also required to provide your billing address including country, city, and a ZIP code.

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Finally, you need to leave your email, phone number, and date of birth, then read the Terms & Conditions and Privacy Policy and tick the agreement box.

When you buy Bitcoin via Simplex for the first time, you will need to verify your email and phone number. This is standard procedure and only takes a few seconds.

  • To verify your email, click on the ‘Verify’ button in the email you’ve received from Simplex. If you don’t see an email, try checking your Spam folder.
  • To verify your phone number, just confirm the 4-digit code you get in the message sent to your phone

The process of adding your credit card on the Lumi Web Wallet is identical.

Tip
Debit Cards transactions are usually more likely to be approved by banks.

Step 4: Verification

If this is the first time you’ve made a credit card transaction, you will need to pass a quick verification procedure.

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  • Upload a photo of your ID and enter the details
  • Fill in your address or choose the option “Same as Billing Address”, if they are the same
  • Confirm by clicking on the ‘Upload Document’ button

You might be asked to fill in the code from your bank to finalize the transaction and on very rare occasions Simplex might require you to upload a selfie with a credit card.

Once you’re done with these 4 steps, Simplex will start processing the payment.

Enter your payment ID here to check the status of your transaction. You can also get in touch with support.

What else can you do with your Bitcoin in Lumi Wallet?

Exchange and invest Bitcoin

There are many promising projects with tokens you can invest in. Use Lumi Wallet to exchange BTC to ERC20 as well as other available coins.

Send and gift Bitcoin

Send Bitcoin to your friends and be certain they will get it fast and in one piece.

Hold Bitcoin

Not ready to do anything with your Bitcoin yet? Hodling pays off! Invest long-term and keep your BTC in Lumi Wallet.