Learn how you can buy Bitcoin — the most popular crypto asset, via Dopamine App.
Ultimately, Dopamine App makes it simple, fast and safe to buy, sell, and hold BTC. Unsafe custodial wallets sometimes get a lot risky considering that the crypto assets that one has accrued for years might get hacked. Instead, Dopamine is a non-custodial wallet that ensures the safety users’ transacted funds.
What you need to know to buy BC using Dopamine App?
Dopamine App is a mobile application providing Decentralized Finance (DeFi) on both Android and iOS platforms to users. It offers one of the best and most secure places to store your crypto assets.
Not only store, but you can also buy, sell, swap, and send tokens. Currently, the platform has more than three million downloads and over one million monthly active users across different parts of the globe.
How to Buy BTC in Dopamine App
Dopamine App offers you three (3) options to buy bitcoin directly (BTC). Here are some:
- Buy with Ramp
- Buy with Simplex
- Buy with Transak
In this guide, we’ll use the Transak method as an example.
Buy BTC with Transak
Transak is a simple integration for fiat-to-crypto payment access. Transak solves the central problem of allowing the average person to get into crypto and blockchain. You can do a bank transfer with Transak.
Dopamine App uses Transak to automatically convert fiat currency into bitcoin, so some conditions are attached to this, depending on your location. You can explore all the countries Transak supports here
Step-by-step Guide
So now that you have a hint of what to expect, let’s take a look at a detailed step-by-step guide on how to load your wallet with some bitcoin.
- Open your Dopamine App
Upon opening your app, you’re faced with various tabs including Market, Wallet, News, Metaverse and the ‘More’ tab.
- Head to your wallet tab
Here you’ll see bitcoin topping the list of other crypto assets you can buy.
- Click buy
After clicking the Buy, you will see a pop-up tab showing you three payment gateways you can choose from. For this guide,
Click Transak
- Enter Amount
After choosing Transak, you’ll be taken to the payment portal, where you can input the amount of bitcoin you want to purchase.
Upon entering your preferred amount, the app automatically shows you the equivalent value in bitcoin.
Then, select Bank transfer, Apple Pay, Google Pay, or VISA.
Other details available here are the fee and how much time it will take to process the transaction, etc.
Definition of terms
- Slippage
A slippage fee is a variance between the supposed price of a trade and the price at which the trade is executed. In this case, it is the difference between Transak’s BTC price and the market BTC price.
The fee varies depending on the volatility of Bitcoin during the given trade period.
- Average Processing Time
Once a payment is completed, the bitcoin is sent out through the btc mainnet blockchain for validation. You should note that the time included in that tab depends on the choice of bank service provider and location. Typically, it takes less time for the transaction to be confirmed on the network.
Transaction Summary
This is a detailed guide on how you can buy bitcoin with your Dopamine App. You can decide to hold it as a store of value or put it back on the marketplace in a bid to sell it for a higher price.
While bitcoin is highly unpredictable and risky to hold, it can also be potentially profitable.
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