This information on Flexepin will show you platforms from which you can buy BTC. The article investigates companies’ fees, verification demands, security features and trade liquidity, offering pros and cons at the end of each review that you can use to compare these exchanges with. And do not forget to read our quick guide if you are not quite yet versed in trading bitcoins.
Summary: Buying BTC with Flexepin Online
- Create an account on the platform of your choice (for example, Canadian Bitcoins).
- If needed, provide scanned ID and complete the verification process.
- Locate “Buy” page at the chosen exchange and create an order containing Flexepin option.
- You can preload the voucher prior to the purchase, to speed up the process.
- Locate the nearest store from you that offer Flexepin cash vouchers and purchase it.
- Provide the voucher’s details to the exchange and buy bitcoins.
- Withdraw coins to your personal wallet.
Flexepin is a popular methods of purchase bitcoins. It provides cash vouchers that can be used in-store, online or on ATMs, depending on the need of the user.
Many exchanges accept the method. The service is available in Australia, Canada, Greece, Cyprus and the United Kingdom, though, when it comes to cryptocurrency trade, Canada sits on the top of the list.
About Flexepin
Flexepin is an online payment system that allows users to convert cash to vouchers in order to buy products and services online. These vouchers can be bought from licensed providers, while the balance can be seen in your Flexepin account. This is quite an important feature of the payment method, as you can always check your balance and keep records of your activity. You do not need to verify your account when opening an account at Flexepin.
You can hold several vouchers simultaneously, though their combined value cannot pass $5.000. Thus, it is quite important to plan out your purchases and BTC trade strategy before you decide to invest using Flexepin. The system does not charge any fees by itself but you should be aware that different licensed providers have different price policies and strategies. Cash top-up voucher exactly like cash, meaning that once released, it cannot be redeemed. The voucher can be expressed in the currencies of countries where service is available; them being AUD, CAD, GBP and EUR.
How to Buy Bitcoins Using Flexepin?
You can buy bitcoin with Flexepin by locating exchanges and ATMs that accept the said vouchers. Vouchers, once purchased, cannot be redeemed unless company allows you to do so. Thus, it is important to work with organizations that have been in the industry for a while already and for which you can find traders’ reviews.
In this guide, we go through platforms that have been deemed so far as being trustworthy. The said exchanges are MyBTC.ca, BitAccess, QuickBT, Canadian Bitcoins, Netcoins, Paxful, Bitcoin Solutions and LocalBitcoins. We also provide a quick guide on how to buy BTC through ATMs with Flexepin.
MyBTC.ca
Based in Canada, MyBTC.ca offers Flexepin purchase option for domestic traders only, with transfers expressed in CAD. Flexepin carries very high fees of 6.75%, with $15 being minimum of the purchase value. Unverified users could purchase coins up to a level of $750 daily while above that level, extensive identity check would need to be completed.
Since coins are sent directly to your wallet, no special security tools are needed regarding coins. On the other hand, even if there is no balancer keeping, 2FA and encryption of information would need to be introduced soon as to keep up with industry standards.
Pros
- possibility to buy coins without verification;
- $2.500 daily max limitation once verification is completed.
Cons
- high fees of 6.75% for BTC purchase;
- oriented towards Canadian traders only.
BitAccess Marketplace
BitAccess is another Canadian company that offers BTC through Flexepin for its customers. The interesting fact about BitAccess is that it does not demand scans of your personal documents when undergoing a verification process. The verification tiers (3 of them) depend on the amount of personal information you give about yourself through no written proof is needed to back it up until the last tier. Only phone number and email are really checked if you want $1.000 purchase limitation.
Fees differ for different locations, as you have to provide your voucher in any store that is part of the BitAccess system. Thus, no security measures are needed since you only provide your personal information and amount of coins you wish to buy.
Pros
- no verification needed to purchase bitcoins;
- over 6.000 locations to choose from in Canada.
Cons
- fees can be quite high at some offices;
- service might not always be available at locations near you.
QuickBT Exchange
If you are looking for privacy, apart from BitAccess, QuickBT also offers anonymous bitcoin purchase as well for Canadian investors. You do not need to create an account at QuickBT nor do you have to verify your identity. You only need to provide your phone number to be eligible for trade. Thus, it is completely private to get BTC at this exchange. The downside of the platform is the fact that there is a $200 daily limit on BTC purchases.
In addition to low liquidity, QuickBT also charges really high fees, currently standing a little bit more than 12%. Only Canadians can use the service as phone number should originate from the domestic ground. QuickBT also does not offer wallet services for its users, meaning that all coins you buy are sent to your address directly.
Pros
- neither registration nor verification needed;
- easy and instant access to bitcoins.
Cons
- low liquidity rate of $200 daily;
- very high transaction fees of approximately 12%.
Canadian Bitcoins
Canadian Bitcoins is one of the most well-known Canadian exchanges. The platform offers several payment methods, Flexepin included, for a fee of 1.5% of the purchase value. One of the strong points of the company is that verification is not required of users. In essence, you can buy bitcoins with the only email and phone registered through the exchange rate is quite wide when compared to other websites.
You do not have a wallet service with Canadian Bitcoins since all purchased cryptos would land directly to the specified address you have provided. Thus, no security features are offered for users.
Pros
- verification is not mandatory for BTC purchase;
- low transaction fees for Flexepin of 1.5%.
Cons
- wide exchange rate (buy and sell price difference);
- no security features available.
Netcoins
The interesting thing about Netcoins is that you can create a pending order without any sort of identity verification, apart from email and phone number. All you have to do after you sign up is to find closest Flexepin-supported location, buy a voucher and then come back to the site and provide the code. The site offers over 4.000 places where you can get coins through cash vouchers.
Pros
- no identity checks needed;
- instant transfer of coins as soon as you provide voucher’s code.
Cons
- no security features for users;
- the system is built on basis of trust, as you get coins after you have purchased the voucher.
Paxful BTC Broker
Paxful is a direct competitor to LocalBitcoins since it offers much the same services. Its services depend on traders, meaning that most of the countries are serviced depending on how many investors are located there. The P2P platform also offers a wide range of payment methods, Flexepin included. The costs of the trade stand at 1%, paid by sellers though usually the said fee is included in the BTC price, prepaid gift card being example below.
As for the safety features, only two-factor authentication (2FA) is available for traders to use. The verification depends on traders but, much like in LocalBitcoins, many sellers would require you to verify your identity with scanned passport or ID.
Pros
- possibility to purchase BTC without ID verification;
- globally available services;
- low trade costs, standing at 1% for sellers only;
Cons
- frauds are a regular part of the marketplace;
- Flexepin not popular choice for bitcoin purchase.
Bitcoin Solutions
Although there is no registration to the website, Bitcoin Solutions does require you to provide scanned ID and proof of address when buying coins from them. The process is thus a bit slower than other choices in the market, as support figures have to check your application before they release the coins to you.
Pros
- coins sent directly to your wallet’s address;
- purchase process one of the easiest in the market.
Cons
- fees are part of the BTC price;
- the exchange serves only Canadian traders;
- verification of the ID is needed for every purchase.
LocalBitcoins
LocalBitcoins is one of the most popular peer-to-peer (P2P) marketplaces in the world. Regional availability depends on the traders that use its services while Flexepin is available as long as there is a seller that accepts it as a payment method. Moreover, the verification depends solely on user though it is worthy to mention that many sellers would require you to verify your account, especially if you are a starter.
Transaction fees stand at 1% and there is only 2FA security tool available which we deem inadequate since coins are not sent directly to your wallet outside of LocalBitcoins. Another issue is that Flexepin is not popular payment method, as investors try to avoid cash payments from new users.
Pros
- possibility to purchase BTC with an unverified account;
- low transaction fees of 1% for both buyers and sellers;
- services are available globally.
Cons
- scams have been reported in the past;
- Flexepin is not a popular payment method;
- usually small amount of coins available for sale.
Use Coin ATM Radar
Many of the exchanges offer BTMs as a method of payment for Flexepin vouchers, though you can also do your own research as well. At Coin ATM Radar, you have a map of the world, pinpointing available BTMs for you to use your voucher with.
Simply locate the nearest one from you that accepts Flexepin as a payment method and head over to get some BTCs. This method is quite easy to use and is completely anonymous since ID checks are not required form you.
However, you do need to account high fees and the possibility of the machine not to work at the time of your visit. There is also an issue of scarce availability in rural parts of the country, as most tellers are located in large cities.
Pros
- completely anonymous to use;
- most of the countries have few tellers available for use;
- instant purchase and withdrawal of coins available.
Cons
- in few cases, fees are quite high (between 6% and above);
- service might not always be available;
- rural regions have a scarce supply of machines.
Best Exchange to Buy BTC with Flexepin
Buying bitcoins using Flexepin does have its advantages, especially when compared to other methods that take several days to finalize, such as bank transfers. Thus, it is important to choose the best exchange for your bitcoin trade strategies.
Using this guide, you should list out the exchanges currently available to you and rank them in terms of several important indicators:
- Privacy level – do you need to extensively verify your identity before you can even buy BTC? If you do not mind doing so, you will have several options open to you. Otherwise, you will find that a number of choices have been cut down considerably, as most follow strict AML and KYC policies.
- Fees – how expensive is the trade at the exchange? Platforms vary in their services and so do costs. Use this guide to plot out the platforms and their fees and seek out those that offer Flexepin for the lowest rate possible.
- Security features – without tight control of your assets, you are at risk of losing them to hackers. Cold storage, 2FA, email notifications and other tools should exist within the platform that you wish to work with.
- Liquidity rate – does platform offer sufficient volume for trade? If you can purchase only small amount of bitcoins at the time, it would be a good idea to move and buy them, somewhere else if you are serious about cryptocurrencies.
Where to Keep My Bitcoins Safe?
We would highly recommend you work only with the best hardware wallets for larger batches of bitcoins. These storages offer protection on both online and offline mode since products do not depend on manufacturers’ servers to function properly.
They act as mini-computers on their own, providing you service no matter where you are located. The screen, physical buttons, recovery phrase and PIN are parts of the entire security system that is at your disposal. The known products out there that you can check out are Ledger Nano S, TREZOR and KeepKey. Check out our reviews of all of the HD wallets mentioned here to get a better idea what they are and why are they popular.
If this guide missed some of your questions about Flexepin, be sure to contact us directly at BitcoinBestBuy as we are here to help you understand bitcoins better.
