how to buy bitcoin with credit card

We can both agree on this:

Buying bitcoins with a credit card or debit card is confusing.

Today we'll show you how easy and fast it can be.

We've collected the best exchanges and listed them for you below.

Introduction to Buying

Here's the deal:

Buying bitcoin (BTC) with a credit or debit card used to be REALLY hard.

Luckily, companies like Coinbase (USA, Canada, Europe & UK) and CoinMama (worldwide) have made the process smooth and fast.

Below, we've listed 5 proven exchanges for buying bitcoins with your credit card.

Before we start:

You'll need a Bitcoin wallet before you buy since some exchanges require one.

Don't have a wallet?

Read our guide on the best Bitcoin wallets.


We suggest using the exchanges listed below or doing research before buying from any exchange.

Many exchanges are simply trying to steal your credit card information!

We do research on every exchange we list and are very careful not to include scam exchanges on our site.

Credit/Debit Card Bitcoin Exchanges

CoinbaseCoinbase Buy Bitcoin Read Review

Coinbase is the world's largest Bitcoin broker.

At Coinbase you can buy up to $150 or €150 of bitcoin per week instantly with a credit or debit card in:

Coinbase charges a flat 3.99% fee on all purchases via credit or debit card, which is among the lowest for European and US customers.

Get $10 or €10 worth of free bitcoin when you buy more than $100 or €100 worth through this link.

A quick step-by-step guide on how to buy bitcoins with credit card on Coinbase:

  1. Create account. Open your account on Coinbase.
  2. Connect credit card. Add your credit card to your Coinbase profile
  3. Verify ID. Verify your ID with Coinbase.
  4. Buy bitcoins! Buy bitcoins using your credit card.

Want to buy on Coinbase? This guide will show you step-by-step in more detail how to use Coinbase.

We may receive compensation when you use Coinbase. Please visit Coinbase for its exact pricing terms.

Pros
  • High liquidity and buying limits
  • Easy way for newcomers to get bitcoins
  • "Instant Buy" option available with credit card or debit card
Cons
Ease of Use
Easy
Privacy
Low
Speed
Average
Fees
Average
Reputation
Trusted
Limits
High
Buy Bitcoin Read Review

CoinmamaCoinmama Buy Bitcoin Read Review

Coinmama is a bitcoin broker that specializes in letting you purchase bitcoin with a debit or credit card.

You'll be charged a ~6% fee due to the risks and processing fees that come with credit card payments.

Coinmama offers high limits. You can buy up to:

  • $5,000 worth of bitcoin per day
  • $20,000 worth of bitcoins per month

After your account is verified and a purchase is made you will receive your bitcoin within a few minutes.

Coinmama is only available in some US states; please see this page for details.

Want to buy using Coinmama? This guide will show you step-by-step how to use Coinmama.

We may receive compensation when you use Coinmama. Please visit Coinmama for its exact pricing terms.

Pros
  • Works in almost all countries
  • Highest limits for buying bitcoins with a credit card
  • Reliable and trusted broker
Cons
  • Some of the highest fees among credit/debit card bitcoin brokers
Ease of Use
Easy
Privacy
Low
Speed
Fast
Fees
High
Reputation
Trusted
Limits
High
Buy Bitcoin Read Review

BitpandaBitpanda Buy Bitcoin Read Review

Bitpanda is a Bitcoin broker located in Austria. You can purchase coins with a credit/debit card for 3-4% fees. Only residents of Europe can use Bitpanda.

Note that the fees are not displayed publically but displayed in your buy price when completing your purchase.

Our guide will show you how to buy bitcoins with a credit card on Bitpanda.

We may receive compensation when you use Bitpanda. Please visit Bitpanda for its exact pricing terms.

Pros
  • Some of the lowest fees for buying bitcoins with credit/debit card
  • Reliable and trusted broker
Cons
  • Fees aren't shown openly on the site but instead included in the buying price
Ease of Use
Easy
Privacy
Low
Speed
Fast
Fees
Low
Reputation
Trusted
Limits
High
Buy Bitcoin Read Review

CEX.ioCEX.io Buy Bitcoin Read Review

CEX.io lets you buy bitcoin with a credit or debit card

CEX.io is one of the oldest Bitcoin exchanges and works in the United States, Europe, and some countries in South America.

CEX.io's verification process is extensive and can take up to 30 minutes to complete.

US residents:

CEX is only available in some US states; please see this page for details.

We may receive compensation when you use CEX.io. Please visit CEX.io for its exact pricing terms.

Pros
  • Support for many countries and regions
  • Low 0.2% trading fee
  • Established and trusted exchange
Cons
  • Verification process is extensive, requiring much personal information (including a photo) and incurring a long delay
  • GBP market lacks liquidity
Ease of Use
Average
Privacy
Low
Speed
Average
Fees
Average
Reputation
Trusted
Limits
Average
Buy Bitcoin Read Review

Tutorials: Buy Bitcoin in Less than 5 Minutes

Coinbase Buying Tutorial (Credit Card/Debit Card)

Coinbase lets you buy bitcoins instantly with a credit card or debit card. Here are step-by-step instructions to help make the buying process easier for you.

1. Create an Account on Coinbase

Once you create an account, confirm your personal details and login. You may be asked to upload a scan of ID. Once you’ve logged in, continue to the next step.

2. Navigate to account settings

Navigate to the top right corner and click on your name. There should be a drop-down menu where you can click "Settings". Then click "Payment Methods" on the menu at the top and you should see something that looks like this:

coinbase

Click on "Add Payment Method" in the right corner.

3. Click "Credit/Debit Card"

coinbase

4. Enter your Credit/Debit Card Information

Note that Coinbase only accepts Visa and Mastercard credit/debit cards at this time.

coinbase

5. Confirmation

You should see a confirmation like the one below. If so, your credit/debit card has been successfully added!

coinbase

6. Buy Bitcoins!

Go to the buy page and you should see a widget that looks like the image below:

coinbase

Enter the amount you want to buy, and click "Buy Bitcoin Instantly". Your coins will then be delivered to your Coinbase wallet!

CoinMama Buying Tutorial (Credit Card/Debit Card)

This section will show you how to buy using CoinMama. (PS: you can also check out our CoinMama review!)

Open an Account on CoinMama

Once you create your account and verify your email address, you can begin following the steps below:

1. Login to Your Account

Once you login, go to "My Account" in the top navigation bar and you should see a page like this:

coinbase

Enter all of your personal details in the fields above and save them.

2. Click "Buy Bitcoins" in the Navigation Bar at the top

You should now be brought to a page that lets you choose how many bitcoins you want to buy. You can choose one of the set amounts-0.5, 1, 1.2, or 2 bitcoins-or scroll down a bit more to select your own amount.

The field to select your own amount looks like this:

coinbase

Once you've chosen your amount click the green "Buy Bitcoins" button to advance.

3. Select Credit/Debit Card as payment method

coinbase


Get a Wallet!

You NEED a Bitcoin wallet for the next step.

If you don't have a wallet yet, learn how to get a Bitcoin wallet now.

We'll wait for you here ;)

4. Enter your Bitcoin Wallet Address

This is the address where the bitcoins you're buying will be delivered to once your payment is confirmed. Paste your address into the empty field.

coinbase

5. Enter your Billing Information and Address

coinbase

6. Enter your Credit or Debit Card Information

coinbase

7. Verify Your Phone Number and Email

You'll receive a 4-digit SMS pin and an email confirmation. Once you've confirmed these forms of contact, you should see this:

coinbase

8. Upload ID Verification

Most people will not need to upload a selfie. Just skip step 8 if CoinMama does not request this from you.

Upload a selfie with you holding your credit card towards the camera. Make sure your name, expiration date, and the first four and last four numbers on the card are visible.

coinbase

9. Wait for Verification

CoinMama needs to verify that your credit card payment went through successfully.

coinbase

10. Confirmation Email

If your credit card payment went through, you should receive an email that looks like this:

coinbase

Long process, yes!

But that's it. Wait 20-30 minutes for the bitcoins to arrive in the address you provided in step four.

BitPanda Tutorial (Credit Card/Debit Card)

This section will show you how to buy using BitPanda. (PS: you can also check out our BitPanda review!)

Open an Account on BitPanda

Once you create your account and verify your email address, you can begin following the steps below:

Login to Your Account

Login to your account and click "Buy" in the top menu bar. You will now see a page like below. Select "Visa/Mastercard" since you want to buy with your credit or debit card. Also, enter the amount of euro you want to spend or amount of BTC you want to buy:

bitpanda

Now confirm that you want to buy with credit/debit. (Note that only 3d-Secure Mastercard and verified by Visa cards are allowed. If you don't have one of these try CoinMama or Coinbase).

bitpanda

Now you need to confirm that the amount you entered before is indeed the amount you want to buy. Also, you confirm that you agree to BitPanda's exchange rate. In the "the Current Price" field you can also see the exchange rate you are getting. It will likely be 3-4% above the market rate since BitPanda's fees are included in the exchange rate.

Note, you only have 60 seconds to lock in your exchange rate and confirm!

bitpanda

Now you will have to verify via SMS or a phone call:

bitpanda

Enter the PIN code you received via SMS or phone call:

bitpanda

If you verified successfully, you can now click "Click here to start the payment process". Make sure you note the 10 minute time--you have this amount of time to complete your order.

bitpanda

On this page you enter your credit card details through mPAY24. One you enter your card information press "Bezahlen":

bitpanda

That's it! Now in your BitPanda account you can check your "History" tab to view the trade details.

bitpanda

You should now withdraw the bitcoins you bought to your wallet.

Frequently Asked Questions

If you're still a bit confused, that's okay. Buying bitcoins is hard and that's why I built this site.

The FAQ section below should answer all of your remaining questions.

Jordan Tuwiner Founder, Buy Bitcoin Worldwide

What risks are involved when buying bitcoins with credit card?

First of all, make sure the company you're buying for has a good reputation and is regulated. It's possible that sketchy companies selling bitcoins may be collecting card (credit card fraud) information and could possibly use your information to make fraud purchases with your card.

Some users have reported cash advanced fees, so be sure to understand how your CC company handles the purchase of bitcoins.

What are the benefits and advantages?

Purchasing with a debit/credit card is one of the easiest ways to buy bitcoins. Also one of the fastest! Since most people understand how to shop online using credit and debit cards, it may be easier for less technical buyers to use credit cards to purchase bitcoins.

What are the disadvantages?

It's hard to buy large amounts of bitcoins with a CC or DC. Also, the fees are higher due to the risk of fraud and scams.


Pro Tip

Do you want to buy larger amounts of bitcoins? Try buying with a bank account and you'll save on fees.

Can I buy bitcoin with stolen credit card?

This is not possible since you won't pass ID verification. It's also illegal, so you should not do it or try.

Can I buy bitcoin with credit card anonymously?

This is illegal and you won't pass ID verification.

Can I buy bitcoin with a pre-paid debit card?

Most exchanges will not allow you to use a pre-paid debit card. To buy bitcoin with a pre-paid debit card you will have to exchange it locally using LocalBitcoins.

If the limits aren't high enough for me, can I buy bitcoins on multiple exchanges?

Yes, of course.

If, for example, CoinMama's limits are too little for you, you could buy $150 each week and also open a Coinbase account and buy an additional $150.

Why was purchasing bitcoins with a credit card once difficult?

Credit card payments are reversible. Actually, merchants don't receive the money from credit card payments until ~60 days after a card is swiped.

Because Bitcoin transactions are irreversible, it's risky for a merchant to sell bitcoins for CC payments. Companies have found new ways to prevent fraud and thankfully this has made it much easier to buy with a CC, as evidenced by the many options listed above.

Is it risky giving up my ID in order to buy?

It depends how much you trust the exchanges. Just like any information you give up online, there is always the risk that it can be hacked or stolen from the website you give it to.

One thing that Bitcoin exchanges have going for them is that because they are constantly under attack, they have some of the best security and protections in place to protect against the hacking of your personal info.

There is always risk with anything related to information online. Even Yahoo was hacked and information on 400 million accounts was stolen.

What's the deal with Wells Fargo and buying with credit card?

On June 11, 2018 there were reports that Wells Fargo blocked all its customers credit cards from buying BTC. However, this is not a huge deal as most credit cards have already been blocked by Visa and Mastercard from buying bitcoins since January/February. Wells Fargo likely took another step, although the bank said they may allow purchases of cryptocurrency again down the line.


recommendation

Do you want to buy bitcoins more privately? Try buying bitcoins with cash instead.

Should I leave my bitcoins on the exchange after I buy?

We really recommend storing any bitcoins you want to keep safe in a wallet you own. Many Bitcoin exchanges have been hacked and lost customer funds. If you don't want to fall victim to these hacks then the easiest way is to store your coins in a wallet you control.

Can you sell bitcoins?

Out of the exchanges we listed, CEX.io is the only one that allows you to sell bitcoins to your credit card.

Will the fees for buying bitcoins with debit card or credit card ever get lower?

Probably not. Payment processors like Visa, Mastercard and American Express charge at least 2.9% per transaction. So any exchange selling bitcoins for CC payments is always going to pass this fee off to you, plus charge a bit more to make a profit. The fees could get lower if some exchange cuts a deal with a credit card processing company to get lower fees.

Can I buy other cryptocurrency using this method?

Depends on the exchange. Coinbase, for example, allows you to buy litecoins and Ethereum with credit card. Coinmama, on the other hand, supports Bitcoin, litecoin, ether and cardano.

If you want to buy lesser-known cryptos you can always buy bitcoins using the methods above and trade them for altcoins on another exchange like Binance, Changelly, Kraken or Poloniex.

Why do I have to buy bitcoins with credit card in order to buy other cryptocurrencies?

This is because most other cryptocurrencies are traded against Bitcoin. The liquidity for altcoins against the US dollar is often very poor. But on the other hand, the liquidity against BTC is usually very good. So it's easy to get other currencies once you have bitcoins, but not easy to get other currencies without having BTC first.

Can you buy bitcoin with credit card at Walmart?

Although many people want to do this, it's not possible to buy bitcoin at Walmart with a credit card, debit card or any other form of payment.

Did banks ban buying cryptocurrency with credit card?

In the USA, some banks are blocking users from buying cryptocurrency on credit. Debit cards appear to still be working. European users still appear to be able to buy crypto with a credit card. The US banks essentially felt as people were getting a cash advance since crypto is usable instantly and is basically like cash.

Exchange Comparison

A quick comparison of credit/debit card exchanges. These cover nearly every country in the world.

Buy Bitcoin with Credit/Debit Card at These Exchanges

Exchange Fees
Countries Buy
Coinbase 3.75% USA, Europe, Canada Buy
Coinmama ~6% Global Buy
Bitpanda 5% Europe Buy
CEX.io 3.5% Global Buy

Please note that fees are approximate and may vary based on your country or purchase size.

Theft, Scams, and Storage

If you get one thing from this article let it be this:

Don't store your bitcoins on exchanges!!!

I've been buying bitcoins for more than three years. I've never lost any money to scams or thefts. Follow the guidelines in this article and you'll be able to do the same.

Jordan Tuwiner Founder, Buy Bitcoin Worldwide

Here are two examples where users got screwed by leaving bitcoins on exchanges:

And there are many more I could list.

Make sure you get yourself a Bitcoin wallet that will securely store your bitcoins.

Besides storage, there are many scam exchanges out to steal your credit card information and/or bitcoins.

Following these two basic principles should help you avoid theft, scams, and any other loss of funds:

  1. Do research before buying on any exchange. Check reviews, ratings, and regulation information.
  2. Don't store coins on the exchange. Already mentioned above but worth repeating.

Secure Bitcoin Hardware Wallets:








Bitcoin - What It Is, How To Use It And Bitcoin Wallets

As the world marks 10 years from the collapse of the Lehman Brothers Investment Bank, it becomes more relevant to think of Bitcoin. The reason for the statement is that after the collapse of the Lehman Brothers, Banks stopped lending to their peers and other financial entities for fear that the institutions had issued bad loans in the asset bubble burst. This created widespread panic, a credit crunch and consequential collapse of the financial system. In the midst of the turmoil, Bitcoin concept came into being. In this regard, it is good to review some aspects about the disruptive cryptocurrency.

What Is Bitcoin

Bitcoin is a protocol of a distributed network. This network manages a ledger of accounts of BTC, the network’s proof of work indicator, commonly known as the token. However, most people use the term Bitcoin interchangeably to refer to both the token (BTC) and the distributed ledger network.

Bitcoin was created by Satoshi Nakamoto, a software developer. The original concept was to create a substitute of the conventional currency that at the time, seemed to be elusive in the crippling 2008 Financial Crisis. The features of Bitcoin are:

Decentralization

Bitcoin protocol of open and distributed network means that there is no central point of authority. The network is controlled by coders who operate in the ecosystem by mining BTC or transacting with each other on peer-to-peer relationships as a reward for the exchange of goods and services.

The Token Supply is Scarce

The original plan is to create 21 million BTC tokens. This is done through the mining process where people download the Bitcoin software on their powerful computers called “nodes” and then solve mathematical processes. The process involves predicting numbers on a block until the program accepts the code and completes the transaction by assigning the BTC to the correct guess. The process is very hard but rewarding as the correct guess earns 12.5 BTC, a figure that reduces by half in a 4-year period.

Divisibility

Since the intention of Satoshi was to create a fully independent currency, the BTC is divisible. The smallest unit is 1/100,000,000 of a token and is referred to as a Satoshi.

Immutability

Bitcoin Blockchain is decentralized and the interactions are managed on the peer-to-peer level or individual basis in regards to mining. In this case, there is no reversal of transactions.

Pseudonymity

Bitcoin system does not ask for the identity of a user. This is because the network works by verifying whether users have BTC in their accounts when they send tokens on a proof of authority feature. However, the ecosystem is public and the address of wallets can be verified and tracked as an antimony laundering measure. Therefore, Bitcoin has semi-anonymity features.

Why Banks Stopped Customers From Buying Bitcoin With Credit Card

At the beginning of 2018, Banks became weary of Bitcoin and other cryptocurrency exchange. The banks expressed their dissatisfaction with Bitcoin by banning the use of credit cards in buying the BTC and other digital assets. Coincidentally, during the time, Bitcoin and other tokens had lost over half of their value. For instance, Bitcoin had slid from $20,000 in December 2017 to new lows of $8,000 as at mid-February 2018.

The first banks to issue the ban in the US were; the Bank of America, Discover, Citigroup, Capital One, JP Morgan, etc. On the other side of the Atlantic, other banks in the UK such as Lloyds, Virgin Money, and others have followed suit. The ban has since spread as Central/Reserve/National banks prohibit the trade in swift regulatory measures. The reasons for the bans are as follows:

The Risk was High

The volatility of cryptocurrency prices means that a high Bitcoin consumption could result in losses and plunge many borrowers into financial distress. This scenario would give rise to bad loans and directly expose banks to liabilities from non-performing or bad credit. One particular research by Lloyds showed that credit cards that were used in buying Bitcoin had higher than average rates of payment defaults.

Discouraging Money Laundering

Banks are responsible for monitoring their clients to ascertain whether there is any form of money laundering going on. However, when clients use credit cards in purchasing Bitcoin, they elude the monitoring system as credit money is usually legitimate, they then service their loans with the laundered money and the cycle continues. It was, therefore, necessary to curb money laundering that was happening through the use of cryptocurrencies and credit cards.

Other factors such as lack of cryptocurrency regulations, weak macroeconomic environments, and uncertainties in the digital assets’ markets may have also played a part in the ban issuance.

Why You Need A Bitcoin Wallet/What It Is

A Bitcoin wallet is a secure virtual environment for storing Bitcoin keys and receiving the BTC. The key in the wallet is used in accessing Bitcoin address. Note that the recipient’s key and the sender’s key is what is required in completing a Bitcoin transaction.

Accessing Bitcoin address is crucial to Bitcoin transactions such as sending the BTC on peer-to-peer transactions in e-commerce, or even exchanging the BTC for other cryptocurrencies or fiat money. There are several types of wallets. In selecting the appropriate one for your use, there are factors that you have to consider such as security, convenience, practicability, control, and anonymity.

You will find out that you need a wallet as Bitcoin is a decentralized distributed ledger network where each user is responsible for keeping account of their tokens. Further, no banks or institution offers solutions to storing the Bitcoin keys that are a must-have when accessing the Bitcoin address that contains specifics such as BTC balance, transaction encryptions, and other on-platform activities.

The various types of Bitcoin wallets to consider are:

Paper Wallet

The wallet is generated through the Bitaddress or the Bitcoinaddress. The wallet stores Bitcoin keys in the form of QR codes that are scanned for making a transaction.

Mobile Wallet

This is a form of a wallet that is accessed as a mobile phone app. It allows limited access of nodes on the Bitcoin blockchain for small BTC transactions. E.g. Jaxx, Bitcoin wallet, etc.

Desktop Wallet

The wallet applies the same principle as the mobile wallet. The only difference is the device, which in this case is a desktop computer or laptop. E.g. Electrum, CoPay, Bitcoin Core, etc.

Hardware Wallet

Hardware wallets are stored in portable and detachable computer hardware parts such as a USB stick, or external hard drive. It is easy to use and secure provided that the hardware has security futures such as passwords. E.g. Ledger Nano S, KeepKey, Trezor, etc.

What To Do With Bitcoin After You Buy It

Buying Bitcoin is becoming easy. If you are an institutional buyer, the CBOE and CME offer options arrangements to buy Bitcoin. Additionally, there are endless points of sale and even ATM machines where you can buy Bitcoin. On the other hand, as an individual buyer, all you need to have is money and access to any of the platform that offers Bitcoin for sale such as Crypto Exchanges, financial institutions, etc. Once you buy Bitcoin, you use the BTC for the following:

Exchange BTC For Other Performing Digital Assets.

A quick look at crypto analytics sites such as Cointelegraph, CoinBase, and many others show that the returns for investments in Bitcoin are increasingly becoming lower in comparison to other cryptocurrencies. This is because BTC is more volatile and is, therefore, more prone to market shocks. The recovery is also slower after a slump meaning that the BTC has a lower ROI. You can, therefore, exchange the BTC for ETH, XRP, EOS or any other token.

Hold onto the BTC

Some analysts predict that Bitcoin may hit $10,000 by November 2018. Many others forecast a positive trend of future growth. You can, therefore, buy the BTC at this point for speculative investment. However, other analysts have shown that Bitcoin may shed value and stabilize at $5000. Therefore, if you are a speculative investor, you should be keen on the trend and be ready to dispose of the BTC depending on the price movement.

Buy Goods And Services

Many merchants are accepting Bitcoin. Companies such as Microsoft, Overstock, SurfAir, etc. accept BTC in exchange for goods or services. The good thing is that you could get better discounts on the purchases as Bitcoin is considered more valuable than the fluctuating fiat currencies that are prone to inflation or devaluation.

The History Of Bitcoin Scams

The Bitcoin blockchain has been relatively safer compared to other platforms especially the startups. There have been very few attempts to hack into Bitcoin network and success has been zero, instead, the target has been individual wallets, and crypto exchange platforms where Bitcoin users tend to be vulnerable. The most notable Bitcoin scams are as follows:

The Mr. Gox Scandal

Between June 11 and February 2014, a Bitcoin exchange platform was set up in Tokyo, known as Mr. Gox. It was marketed as the most secure and convenient crypto exchange for the time. With the massive publicity of the time, investors rushed to trade the BTC.

In a short span, the platform became the target of endless successful security breaches followed by systematic problems where processing payments became a problem. The company then came under investigation triggering a panic rush to withdraw funds.

Soon afterward, Mr. Gox filed for bankruptcy. The company went under with over 850,000 BTC that are worth over $55.25 billion in today’s exchange rate. Reports show that Mr. Gox representatives and hackers made away with most of the funds.

Bitcoin Savings And Trust Scam

The company offered to buy Bitcoin from investors and sell the digital coins at an interest of 7% per week. The deal was rosy and many investors contributed 500,000 BTC. However, the firm collapsed and went under. In August 2012. Tendon Shavers, the proprietor was ordered to repay to the victims $4o million by the courts.

Bitfinex Scandal

This was not a scam but a scandal. In August 2016, Bitfinex reported that hackers had breached the system and made away with 120,000 BTC. Although the company refunded the investors. The damage was profound, as Bitcoin price plunged from $607 to $515 in hours.

Bitcoin Gold Wallet

In November 2017, operators of mybtgwallet.com tricked Bitcoin users to submit their wallets so that their keys could be used in mining Bitcoin Gold. However, the scammers sent the keys and codes in the wallets to other addresses without the knowledge of the investors. An undisclosed amount of Bitcoin was lost but authorities recovered $3 million worth of BTC in a purging exercise.

Bitcoin Buying Options

Bitcoin continues to be an ultimate investment choice due to the immense probabilities of gains. The options for buying the leading cryptocurrency are diverse:

Credit Transactions

Although most Banks do not authorize the use of credit cards to buy Bitcoins, some credit card providers whose sole business is to offer credit are flexible and offer the service. If you are considering using your credit card to acquire Bitcoins, you can follow the steps below:

• Find the Best Bitcoin Marketplace such as Coinbase, Coinmama, Bitpanda, etc.

• Sign up an account

• Connect to your credit card

• Trade your local currency in the card

• Transfer the Bitcoin into a secure wallet

The credit card transactions, however, attract fees that average 3.75% that is considerably expensive. Moreover, the credit purchase can be considered as cash advances that may attract higher fees making the transaction expensive. However, the credit card can increase the credit line if the exchange is considered as a purchase to enable you to spend more on Bitcoin exchange.

Debit Card Transactions

The protocol for debit card transactions in Bitcoin purchases is almost similar to credit card transactions. The steps are the same, as you have to open an account in your preferred exchange and follow the process as outlined under credit card transactions. The only difference is that you are to select the debit card option as opposed to credit card selection.

Under this category, the fees are usually lower than on credit cards. The only major hurdle is that your bank may not be allowing Bitcoin transactions due to regulatory or precautionary measures that are being adopted in almost all countries in the world.

Cash Solutions

There is a Bitcoin ATM that offers one-stop solutions to people with cash who want to buy Bitcoin or other cryptocurrencies. The machines are places in people’s businesses, malls or high traffic areas that accessible to the public. However, a prerequisite for buying BTC is that you have to have a wallet from which you can directly deposit the BTC after the cash purchase. The machine is convenient, easy to use, and safe as the risk of being scammed is almost zero. The safety factor is underpinned d y the fact that the machines operate under KYC regulations as per the jurisdiction of operation.

Online Money Transactions

Online money is different from digital cash. The difference is that online money is fiat money denoted by online codes such as numbers, etc. On the other hand, the digital cash represents tokens such as Bitcoin, Ethereum, etc. that are generated through mining, in addition to being decentralized and supporting private transactions. In this regard, the option for online money in Bitcoin transaction is possible through various platforms.

PayPal

The PayPal platform enables you to buy Bitcoins within Bitcoin exchange platforms such as Virtual World Exchange (Virwox), eToro, Cryptex24 Exchange, xCoins P2P Bitcoin Lending, and many other crypto market platforms. To complete a transaction, you will need to have an account of Second Life Linden Dollars (SLL)-the currency for the virtual world.

The PayPal platform has recently applied for a patent right on the Expedited Virtual Currency Transaction System (EVCTS). This means that the BTC can be bought in the Virtual world mainly for speculative purposes. Additionally, the EVCTS allows instant transaction time frames as the PayPal platform supports the creation of “mini wallets” to act as blocks for authorizing transactions that support BTC exchange.

Other Similar Platforms are:

  • Google Wallet
  • Skrill
  • Intuit

Conclusion

Bitcoin continues to be a major investment both as an asset and a cryptocurrency. With such a potential, it is worthwhile to consider aspects of Bitcoin such as its history, payment options, biggest scams in history and the wallet.