Buying Bitcoin can seem like a daunting task. However, that is not true. Why? Many cryptocurrency exchanges across the globe have provided ways by which their customers can buy Bitcoin with ease. In fact, the process is instantaneous, safe, and efficient for users. With a debit or credit card, you can get your Bitcoin within the comfort of your room through these exchange sites in the simplest way. This article outlines exchange sites that allow payment through debit or credit card. Before then, let’s take a look at what debit and credit card mean.
WHAT IS CREDIT AND DEBIT CARD?
A credit card is a card issued by a financial institution (bank) to enable the cardholder to borrow funds from the bank. Most times, the funds borrowed are up to a certain limit in order to use for financial purposes. The cardholder pays back the borrowed funds with interest in line with the bank’s terms and conditions.
Meanwhile, a debit card is a card that enables financial transactions from the owner’s account. Debit cards allow the withdrawal of funds from the amount of money you deposit in a particular bank. Most times, major payment processors like Visa and MasterCard remain the issuer of these cards.
5 WAYS TO BUY BITCOIN WITH DEBIT OR CREDIT CARD INSTANTLY
The following exchanges allow you to buy Bitcoin with your debit or credit card instantly. It offers a fast, smooth and secure experience for its users.
Counbase is one of the world-leading exchange sites that facilitates the buying, selling, and trading of cryptocurrencies. With a friendly and world-class user interface, it supports millions of customers with financial transactions involving cryptocurrency. Backed up by potential investors, it has a mobile app that is available for both Android and IOS users. To promote security for its users, Coinbase stores less than 2% of users’ crypto assets online and keeps the rest in offline storage.
When buying using a VISA or MasterCard, users can buy Bitcoin in small amounts and withdraw through their bank accounts, wire transfer, or Paypal. However, Coinbase charges a processing fee of 3.99% for card transactions.
Here is a simple step to buying Bitcoin on Coinbase through your debit or credit cards. However, you just ensure that you have verified your identity before using credit or debit cards.
- Create a Coinbase account by registering your email and phone number.
- Go to settings, click on “payment method”, and then select “add payment method”
- Click on the “Credit/Debit card” option.
- Input your card’s information and type in the amount of Bitcoin you will like to purchase.
- Then, you will receive your Bitcoin in your Coinbase wallet.
CEX.IO is another trusted Cryptocurrency exchange with millions of customers worldwide. It accepts the use of debit and credit cards and boasts of multiple parent methods including, SWIFT, SEPA, and more. Coinbase accepts fiat currencies like USD, GBP, EUR, RUB for the cause of Bitcoin. With a mobile app for its Android and IOS users, it offers standard security, high liquidity, and numerous trading features on its platform.
Coinbase also accepts the use of VISA and MasterCard when using debit or credit cards. However, it charges a processing fee of 2.99% for card transactions.
HOW TO BUY BITCOIN ON CEX USING YOUR DEBIT OR CREDIT CARD
- Create a CEX account.
- Go to the “Cards” tab on the menu, and select “Add a new card.”
- Enter your card information and Click proceed.
- Then, you will have to verify your card and identity.
- After completing the verification process, click on “payment card.”
- Enter the amount you will like to deposit and place the order.
Binance is arguably the world’s leading cryptocurrency exchange. Supporting millions of customers, it offers a platform that facilitates the purchase, sales, and trading of cryptocurrencies. It supports various payment methods including, debit and credit cards and offers a low processing fee. However, it is unavailable for US citizens. With a simple user interface, its mobile app is available for Android and IOS users.
HOW TO BUY BITCOIN ON FINANCE WITH DEBIT OR CREDIT CARD
- Select “Buy with Cash” from the home screen
- Select “Credit/Debit card”
- Click on the “USD” option to open the list of supported fiat currencies
- Choose one of the currencies and enter the amount of BTC you intend to buying
- Check the amount and select “Confirm” at the bottom of the screen
- Once it is confirmed, your purchased Bitcoin will be transferred to your Binance Spot Wallet
Coinmama is another cryptocurrency exchange that allows users to buy and sell cryptocurrency. It offers various methods of payments that include bank transfer, debit or credit card, or bank account. With Coinmama, Bitcoin is for sale through different packages. However, you can specify the amount of Bitcoin you wish to purchase. One thing to note about Coinmama is that it doesn’t provide a digital wallet where you can store your purchased Bitcoins. Instead, you have to provide a wallet address where you will send your Bitcoins. The processing fee for Coinmama is 5%.
HOW TO BUY BITCOIN ON COINMAMA
- Create a Coinmama account with your email
- Click on the “Bitcoin” option on the home screen
- Various packages will be shown to you. Choose your preferences or enter the amount of BTC you wish to buy
- Enter your wallet address to receive Bitcoin
- Then, input your card information. Select “Pay Now” to confirm your order
BitIt is a France-based exchange that allows the buying and selling of crypto assets. It supports many fiat currencies and lists many cryptocurrencies on its platform. Also, it provides a level of security that protects users’ data. It also offers various methods of payment. To buy Bitcoin on BitIt, users have to complete the verification process by providing documents such as current bank statements, proof of residency, a form of identity verification, and a selfie. BitIt also charges a processing fee of 3.9% for card transactions.
HOW TO USE BITIT
- Create a BitIt account
- Fill up your profile and complete the verification process.
- Go to the “Buy” tab and select Bitcoin as the crypto of your choice. Then, choose “Credit/Debit Card” as your payment method.
- Enter the amount you wish to purchase.
- Select a wallet address to receive your Bitcoin. If you have a hardware wallet, you can connect it to your device for instant processing.
- Enter your card details and finalize your order.
- You have successfully purchased your Bitcoin.
Every cryptocurrency exchange provides valuable crypto-assets for its users. Consider the exchange site based on your country’s financial regulation and select the one that suits your needs.