Transak
Transak is one of the simplest and most user-friendly platforms for purchasing bitcoin, enabling transactions to be completed in just a few minutes. However, occasional delays may occur, so it is recommended to complete your purchase and have your bitcoins ready before requesting our service.
1 Create a wallet
Bitcoin is a digital currency, so the first thing you need is a Bitcoin wallet. This is where your Bitcoins will be sent and stored after the purchase.
You can create a Bitcoin wallet in less than one minute by visiting this website: mywallet.sh
Once on the website, follow these simple steps:
- Where it says "Select a currency", make sure that Bitcoin (BTC) is selected.
- This step is optional but recommended: turn on "Save to My Wallets" so your wallet is saved and you do not lose its information.
- Click "Next Step".
- Click "Next Step" again.
- Click "Create Wallet".
That’s it. Your Bitcoin wallet has been created. You will now see two important pieces of information on your screen:
- Bitcoin (BTC) Address – This is your public Bitcoin address. You must provide this address to Transak when prompted, so they can send your Bitcoin to it.
- Private Key – This is like the password to your wallet. It must be kept completely private. Anyone who has this key can access your Bitcoins.
If you enabled "Save to My Wallets", your wallet will be stored under "My Wallets". You will also see options to back up your wallet by printing it or downloading it as an image or PDF.
Keep these two pieces of information safe. If you lose your wallet details, there is no way to recover them. Treat this information as something very valuable.
2 Buying bitcoin
It is important to know that Transak charges a commission for buying bitcoin. This commission is 10% and must be paid by you, the customer. This means you will receive bitcoin worth 10% less than the amount you pay. To get the exact amount of bitcoin you want, add 10% to your purchase. For example, multiply the amount you want to buy by 1.10 to get the total cost including the commission.
Now that your bitcoin wallet is ready, follow these steps to buy bitcoin:
- Visit the Transak website: global.transak.com
- In the "You pay" field, enter the amount of money you want to spend on bitcoin.
- In the "Using payment method" field, select your preferred payment method.
- Make sure the "You receive (estimate)" field is set to BTC. The default currency may be ETH, so switch it if needed.
- Click "Buy Now".
- Enter your email address. Transak will send a one-time verification code. Enter it to continue.
- When asked for your BTC Wallet Address, paste the bitcoin address you created in Step 1, then click "Buy BTC".
- Fill out the personal details form with real information. Do not provide false data. Click "Continue".
- Enter your real address in the next form and tap "Continue".
- Select a reason for buying bitcoin. It doesn’t affect the process; it is for Transak’s statistics. Recommended option: "Buying/selling crypto for investments". Click "Continue".
- Transak will ask for Identity Verification. They use Onfido, a secure verification service. Copy the link, open it in a new tab, and follow the instructions.
The verification process is simple and usually takes 3–5 minutes. Just follow the prompts.
Important: Keep the Transak tab open while completing the ID verification in a new tab. After verification, return to Transak. It will update automatically, allowing you to make the payment and receive your bitcoin.
Identity verification is required by law. As a registered company, Transak must comply with anti-money laundering (AML) and anti-terrorism financing laws. Your reasons for buying bitcoin remain confidential because bitcoin transactions are anonymous. However, Transak must verify that the funds come from your personal account or card, not from a third party. This is a legal requirement and does not compromise your privacy.
3 Wait
After you complete the payment, you must wait for Transak to receive your money, validate the transaction, and send the Bitcoins to your wallet.
In normal conditions, this happens within a few minutes. However, depending on different factors, it may sometimes take up to a few hours.
Once your payment is confirmed, you will receive a notification by email. Keep an eye on your messages.
After Transak sends the Bitcoins, you can check that they arrived by entering your Bitcoin address below and clicking "Check Balance".
4 Make the payment
When it is time to pay for our service, you must send us the private key of your Bitcoin wallet. This private key allows access to the Bitcoins stored in that wallet so we can receive the payment.
To send us the private key, contact us by clicking here and tell us that your payment is ready and that you want to share your private key with us.
Bitcoin wallets are anonymous and disposable. They are not connected to your personal identity and can safely be used once. By sharing the private key, you only give access to the Bitcoin stored in that one wallet. You are not giving access to your identity, bank account, or personal data. If you want to buy Bitcoin again in the future, simply create a new wallet using the same instructions from Step 1.