Buy Bitcoin on Satoshi
Introduction
At Satoshi, we aim to provide a user-friendly platform for buying, selling, and managing Bitcoin transactions with ease. This guide explains our Buy feature and introduces the Exchange Account, essential for Bitcoin trading.
Note: The Buy feature on Satoshi is currently available only to U.S. citizens.
Creating an Exchange Account
Ideal for both beginners and those seeking a guided account experience, the Exchange Account is essential for trading Bitcoin on Satoshi. It ensures a smooth user journey with easy-to-use transaction features.
Capabilities: Bank custody, buy/sell, add cash, cash out, and conduct both on-chain and Lightning transactions in BTC and USD.
Setup: Obtain an Access Code (subject to availability) and verify your identity
Requirements: Verify with your government ID, legal name, address, date of birth, SSN, and a selfie.
Why KYC is Required for the Exchange Account: KYC is required for the exchange account to meet regulatory standards, expand our services safely, and ensure transaction security.
Once your Exchange Account is activated, you are ready to buy Bitcoin!
Transaction Types
Instant Buy / Sell (One-Time)
Recurring Purchases (hourly, daily, weekly, monthly)
Buying Bitcoin on Satoshi
Initiate Purchase: Tap the 'Buy' button in the app.
Select Amount: Choose how much Bitcoin you want to buy.
Confirmation: Review your payment method and transaction details.
Complete Purchase: Click 'Confirm' to finalize your transaction.
Congratulations! You have successfully purchased Bitcoin on Satoshi.
Fees
Buy: 0.9%.
Sell: 0.9%.
Note: Depending on market conditions, Satoshi may charge an additional spread on buy and sell orders.
Conclusion
Satoshi offers a streamlined platform designed for effortless Bitcoin transactions, supported by the Exchange Account's comprehensive capabilities. Whether you are new to Bitcoin or a seasoned trader, our user-friendly interface and secure processes ensure a seamless experience from setup to transaction completion.