Bitcoin mining and exchange have risen at a staggering rate. Nowadays, a lot of people exchange or mine Bitcoins to make their living. And it’s completely sane if someone tells you that you can buy Bitcoin at Walmart. Because, why not? Walmart is one of the largest chains in America.
However, this doesn’t work as you might expect it to. Then how does it work? Do they hand you Bitcoins at Walmart? Continue down this article, and all shall be made clear.
Can I Buy Bitcoin at Walmart?
Yes, you can. However, it’s not as if someone will hand you a Bitcoin there. When someone is talking about buying Bitcoins at Walmart, they are referring to the peer-to-peer marketplace.
The peer-to-peer marketplace is an online market, actually an online marketplace. This platform was created with the aim of making the meet between buyers and sellers easier. Using this, buyers and sellers can get introduced to each other easily.
But what’s the role of Walmart here? They can’t purchase Bitcoins directly. However, Walmart provides money transaction facilities, and here we’ll be making use of that.
At first, you have to find out an interested seller or buyer who would like to trade with you. There are some apps and programs that allow you to do that. Then, you have to deposit your money to the teller of the Walmart retail store you’ll visit. After completing the transaction, the seller will send you the agreed Bitcoin amount.
There are a lot of applications and platforms that offer the peer-to-peer network. Out of all the available platforms, Paxful is one of the best. It’s simple to use, and very reliable as well. If you want to avoid fraud and want to get the job done as smoothly as possible, follow this procedure:
The Procedure for Buying Bitcoins at Walmart Using Paxful
Paxful is a financial service that offers an online marketplace for buying and selling Bitcoins. Here’s how you can trade using Paxful:
- If you already have a Bitcoin wallet, that’s great. However, if you don’t, the first step would be to get a Bitcoin wallet. Bitcoin wallets are applications that you can use on your phone, desktop, or web browser. These applications allow the user to maintain, monitor, and conduct Bitcoin transactions.
- Next, you would have to sign up for the peer to peer exchange. This peer to peer marketplace helps the user to track down and locate other buyers and sellers. The platform will show interested people who are near to you, if available. If you’re willing to buy Bitcoins, you’ll be able to exchange Bitcoins using your credit or debit cards, deposits, or even gift cards!
- Then you have to create an Email account. Make sure that this email account is active and created using legitimate credentials. You’ll be needing this account for the transactions in the future as well. So, you better make sure that you can access it whenever you need to.
- Walmart usually exchanges Bitcoins using the cash deposit option. On the left side of the screen, you’ll find different options. Scroll down and once you find the Walmart to Walmart option, select it.
- Now, you can deposit the money at any Walmart retail store. So, go to the one nearest to you, and deposit your money. The rest of the required information can be found in Paxful.
- A lot of fraud cases have been reported since the inception of Bitcoins. And these frauds are more likely to target transfers, as that leaves a big window for the culprit for escaping. However, this can be avoided if you’re well aware of the situation at hand. Make sure you keep tabs on your accounts after every transaction.
- Once you’ve deposited the money, you’ll receive the agreed Bitcoins within ten minutes to a few hours. However, this depends solely on the seller, and you have to maintain communication with him to make sure everything is on the correct path. The Walmart system is very secure. Although wire transfers report the most fraud cases, Walmart has faced none until now. So, you can rest assured, knowing that your money is safe and secure.
Is This Process Safe?
You may question the safety of this procedure. However, Walmart is very secure, and so is Paxful. Now, we’ll introduce you to some features that can ensure the safety of your deposits.
As we’ve discussed before, these online exchanges are very vulnerable to cyber-attacks, malware, and hackers. That’s why it’s a must that you protect your wallet at all costs. And the primary step would be to activate the two-factor authentication of your wallet.
With this activated, even if the hacker can break through the primary layer, the second layer will surely keep him out.
Good customer support can give the customer a great experience. And that’s exactly what Paxful aims for. You can contact Paxful anytime via Email, social media, or direct call. They sure have a quick response!
An Escrow Service
Paxful has an Escrow service. This works as a third party that holds the money until both the buyer and the seller get what they agreed to. To make sure that there’s no loophole, no chance of fraudulence, this escrow service works perfectly.
Safety of Deposit
There have been a lot of cyber-attacks on platforms such as Paxful. However, Paxful maintains high-security servers that use protocols as same as the banks. The way these are monitored, it’s virtually impossible that anyone can slip through unnoticed.
Buying a Bitcoin was a hard job once. However, with platforms like Paxful, this process has been simplified and made efficient.
If you want to buy Bitcoins without having to search far and wide, simply get the peer to peer marketplace of Paxful, and you’ll be introduced to millions of online users who are as interested in exchanging as you.
Hopefully, this article could provide a proper guideline on how you too can buy Bitcoin at Walmart.