- When clicking bank transfer the selected option will be Deposit
- Enter the amount you wish to transfer to your ICONOMI account (min. €10,-)
- Click Continue
The average time to complete the transaction is 1~3 business days
NOTE: The Reference in the example is NOT to be used. Only use the reference your account generates when following these steps.
Buying Bitcoin (BTC)
In the search bar type “BTC”
- Click “Bitcoin”
- GGo to “Buy”
- Select “My EURO Balance”
- Enter the amount of funds you want to use to buy Bitcoin
- Click “Continue”
- Click “Place order”
Bitocin (BTC) is a cryptocurrency and a globally accepted payment method. It is the first decentralised cryptocurrency which functions without a financial institution or central governance. The network (blockchain) it works on is peer-to-peer. Transactions on this network take place between users without the involvement of a middleman.
How is Bitcoin (BTC) priced?
Bitcoins is priced through a supply and demand system. More supply the leads to a lower the price. The higher the demand the higher the price.
Of course there is more to the market (where the supply and demand meet) than just this system. There is a lot of psychology involved.
When the price goes up buyer are keen to step in since it looks like there is profit to be made. When the price rises sharply people tend to buy more because they do not want to miss out. (FOMO = the fear of missing out).
Alternatively as soon as price drops people start selling to avoid losses. When the price drops significantly people start panic selling to avoid even higher losses. This is also know as panic selling.
Both these phenomena can cause large swings (ups and downs) in the bitcoin (BTC) price.
Overall the more exposure bitcoins has in the world the more accepted it will become and its usage will lead to higher demand and a higher price.