Monday, August 15, 2022

How To Buy Bitcoin With Debit

What Are The Fees To Buy Bitcoin With A Credit Card

How to Buy Bitcoin with Debit Card – Quick and Easy way to Buy Bitcoin with Debit Card

The fee of purchasing Bitcoin with a credit card depends on the payment method and the crypto exchange you are buying from. For example, an ATM or exchange may charge either a fixed amount or a percentage of the purchase amount.

These fees can be $10 or 3-5% , whichever is greater. Credit card companies have also started to consider buying Bitcoin as a cash advance.

Limit Buying For Bitcoin

A limit order lets the trader set the minimum and/or maximum price at which they want to buy or sell.

Limit orders are recommended to users to practice control of the worst price at which an order could be matched. Limit orders can be risky if users do not know how or when to use them. Beginners can use limit orders if they have a fundamental understanding of trading.

How To Choose Crypto Currency Exchange

Supposing you decided to get into the crypto world and want to learn . There are multiple methods to proceed with this, and some of them may seem too complicated. If you have never had cryptocurrency at all and want to own some, the first step that you need to do is to search for the best exchange. To do this, always mind some important characteristics it should dispose of:

  • Trustworthy. The exchange is reputable, and its reviewed and advised by many users on popular sites like Reddit
  • Legal. The platform must have all necessary registrations and licenses confirmed
  • Safe. It offers a high level of security, conducts KYC, and enables 2-factor authentication.

One of the platforms having all these features is CEX.IO.

Don’t Miss: What Is My Bitcoin Address Coinbase

Buying Bitcoin With The Bitcoincom Wallet

Crypto wallets allow you to buy bitcoin conveniently from within the wallet app, and the Bitcoin.com Wallet is no exception. Importantly, the Bitcoin.com Wallet is fully non-custodial. This means you’re always in complete control of your bitcoin. Here’s the process for buying bitcoin using our app:

  • Open the Bitcoin.com Wallet app on your device.
  • Select Bitcoin and tap the “Buy” button. Note: you can also buy other digital assets.
  • Follow the on-screen instructions to choose your preferred wallet for depositing. The Bitcoin.com Wallet actually consists of separate wallets for each digital asset we support . Additionally, you can make as many individual wallets as you want, a feature that can help you to organize your funds. For example, you can make one Bitcoin wallet called My BTC Savings and another Bitcoin wallet called Everyday BTC Spending.
  • If it’s your first purchase, verify your identity. After your first purchase, which includes identification verification, future purchases are completed in seconds!
  • Once complete, your purchase will proceed.
  • Of course, you can also use your Bitcoin.com Wallet to receive, hold, and use the bitcoin you’ve already purchased via a different method. Other methods for buying bitcoin include:

    Is There An Age Limit For Buying Bitcoin

    How to Buy Bitcoin Cash With a Debit Card in 2019

    No, there is no age limit for buying Bitcoin. However, cryptocurrency providers such as exchanges and brokers require that users be 18 years or older. This can be proven by exchanges who require a valid copy of the users identity document.

    The reason for age restrictions refers to the fact that there are significant risks involved with cryptocurrencies, with many underage users unable to make informed decisions regarding the purchase/sale of Bitcoin, which can lead to significant losses.

    Don’t Miss: How To Trade Crypto For Usd

    The Easiest And Most Secure Place To Buy Bitcoin Online

    As enthusiastic cryptocurrency ambassadors, RockItCoin aims to make the purchase process as easy as possible for new and experienced users alike. Whether youre fresh on the scene or a long-time trader, youll be impressed by the convenience and speed with which you can buy bitcoin with a debit card or credit card on our site.

    Buying Bitcoin Using Credit/debit Card

    Using credit/debit cards to buy bitcoin can be a lengthy process that requires a lot of verifications. While it is not the most secure and protected way to buy bitcoin as it does put your info, your card details and your BTC at risk of getting hacked, it is still worth it! Here are what you need to do to buy bitcoin using debit/credit cards in the smoothest and fastest way possible:

    First: create a wallet.

    Second: choose a crypto exchange that is trusted with a good reputation, regulated, has good trading volume, and supports your country/region. Then complete the KYC instructions to get verified.

    On a side note, some exchanges like Binance, allows you to purchase BTC locally or virtually and directly from another individual in person or over the web on your own terms using their P2P platform.

    PRO Tip: do extensive research before opting into any exchange as there are many fake sketchy websites that look exactly like a respected crypto exchange but are simply trying to steal your credit card information!

    Here are our hand-picked Top 5 Crypto Exchanges in MENA!

    Third: Link your credit/debit card with your crypto exchange account

    This one can be tricky as it depends on your location, exchange, card provider, and bank. For example: for regulatory or internal policies or card issuer restrictions, some banks might not allow you to deposit money into crypto-related exchanges.

    Fourth: Buy bitcoin!

    Each exchange has its own way and instructions so make sure you follow those right!

    Recommended Reading: Why Is Crypto Still Going Down

    Follow The Bitcoin Prices And Analyse Them

    Before purchasing Bitcoin, you must consult price charts, use fundamental analysis and technical analysis to gauge the price of Bitcoin. By performing a price analysis on Bitcoin, you can make an informed decision about your purchase.

    Technical analysis involves using historical market data, including past price trends and trading volume, to obtain a clear picture of the market sentiment and to identify trends in price movement.

    This can help you make a calculated forecast regarding when the market could be bearish or bullish. Bearish refers to a downward trend, and bullish refers to an upward trend. Fundamental analysis involves viewing the larger picture by analyzing the intrinsic value of Bitcoin, what gauges its potential, the current strength of the community, and so on.

    The benefit of this step is that you can determine when would be the right time to purchase Bitcoin. Common mistakes that users tend to make when they analyze the markets include:

    • Only using one type of analysis, whether it is purely technical or fundamental. While this is not wrong, it only gives one side, and many metrics could be missed.
    • Incorrect position sizing and not considering the driving factors behind the price of Bitcoin.
    • Not keeping updated with news sources.
    • Not using enough resources to decide and end up making uninformed decisions based on a guess.
    • Trading at random without doing a thorough analysis.

    Sell Bitcoin With Instant Sell

    How To Buy Bitcoin With Debit Card (Cheap/Low Fees)

    Now lets have a closer look at the unique Instant Sell feature in CEX.IO mobile app, which gives you the possibility to get cryptocurrency with your debit card asap.

    Have a look at the 4 Instant Sell options. These are the boxes with price and amount, so-called Fill-or-Kill orders. FOK orders were implemented for you as the fastest way to buy BTC.

    How do the Fill-or-Kill orders work?

    At the top of the three first orders, you can see the amount of money for which you can sell assets that you need. As for the fourth, you may decide which amount of your assets you are ready to sell to get fiats. Above them, you may choose the crypto you want to sell and the fiat currency you would like to get: USD, EUR, GBP. The amount of fiats you can get freezes you can see the countdown in the bottom in order to allow you to sell crypto asap for the current market price and to make sure you get the desired proceeds.

    Read Also: Where To Paper Trade Crypto

    Buying Bitcoin Anonymously With Debit Cards

    You can also buy bitcoin anonymously with a debit card using a peer-to-peer marketplace, where you get in touch with the sellers and purchase directly from them no broker or other third party is involved in the process. Still, we should note that this method of purchasing cryptocurrencies is not the safest one.

    Still, if you want to buy bitcoin anonymously and reduce the risks, you need to choose a marketplace that uses an escrow mechanism. In this way, you can be sure you will get your coins after paying for them. Meanwhile, though top brokers require you to go through a verification process, they possess a privacy policy not to share your data with anyone else. Neither can they track how you will use your BTC afterward.

    Buy Bitcoin & Other Cryptocurrencies Online Now

    What are you waiting for? Our payment processor and customer service team are ready and at your disposal. You can also visit our FAQ page if you have any lingering questions about the process or cryptocurrency in general. Or give us a call at 1-888-70-BITCOIN if you need help buying crypto with a credit or debit card, or with anything else.

    You May Like: How To Hack Bitcoin Wallet Using Kali Linux

    Choose A Payment Option Buying Bitcoin

    Once you have chosen a Bitcoin exchange that suits your unique needs and objectives, you can connect your exchange to a payment option.

    If the Bitcoin exchange is more centralized, it will require that you provide extensive information on personal details, financial information, employment details, and trading experience.

    There is also a Know Your Customer KYC process that must be completed where identity documents and proof of residence will be needed to verify your details.

    More decentralized exchanges do not all require that a KYC process be completed, but this differs from one exchange to another. The information that will need to be provided will also depend on the region in which you live.

    The next step involves connecting a payment option. Most major exchanges allow you to connect your bank account directly. Additionally, you can also use a debit card, credit card, or electronic payment methods such as PayPal.

    However, some exchanges only allow you to pay in cryptocurrencies, which means that you will need to find one exchange that allows you to exchange fiat for crypto, such as Tether, and then another that allows you to purchase Bitcoin.

    Every payment option can have certain payment processing fees in addition to transaction fees. The benefit of this step is that it allows users to purchase Bitcoin in several ways. Common mistakes that users make when they get to this step include:

    Alternative methods for placing an order include:

    How To Buy Bitcoin With Your Credit Or Debit Card

    How to buy bitcoin

    Before you understand how to buy bitcoin with your credit or debit card, just be aware, that there are many shady exchanges. If you pay money to them, you may not be able to get your crypto equivalent of your investment successfully. That is why Im writing this article, so you can be aware of legitimate exchanges where you can invest without a doubt.

    The following are the websites that accept debit or credit card for buying bitcoin that you make use of

    Read Also: How To Transfer Bitcoin From Cash App To Another Wallet

    How Do Bitcoin Credit And Debit Cards Work

        Gordon Scott has been an active investor and technical analyst of securities, futures, forex, and penny stocks for 20+ years. He is a member of the Investopedia Financial Review Board and the co-author of Investing to Win. Gordon is a Chartered Market Technician . He is also a member of CMT Association.

        Bitcoin is a type of currency that uses digital tokens that can be sent electronically from one person to another. Like dollars, Bitcoin can be used to complete everyday transactions, as long as the person or business accepts Bitcoin as a payment method.

        If you have Bitcoin and want to use it for everyday transactions, you might consider a Bitcoin debit or credit card. This way you could swipe your card and complete the transaction with the bitcoin you have in your wallet. As Bitcoin value rises, traditional payment networks embrace the technology, and the list of Bitcoin credit and debit card options grows.

        Buying Bitcoin With Debit Cards

        Debit Cards are bank cards that can be used to purchase goods and pay for services. It is also a way to purchase Bitcoin through certain exchanges such as Coinbase, Coinmama, Coingate, and several others that allow for debit card purchases.

        Any exchange that accepts credit cards will also accept debit cards as a rule.

        The advantages of buying Bitcoin with a debit card are:

        • Transactions are instantaneous

        The disadvantages of buying Bitcoin with a debit card are:

        • Higher processing fees are charged on debit cards than other payment options.
        • Debit card information can be obtained when hackers attack a cryptocurrency exchange.

        In terms of legal issues, exchanges that accept payment in debit cards will require that users complete a KYC procedure as part of anti-money laundering procedures.

        Buying with a debit card is safe if you use a legitimate cryptocurrency exchange that uses SSL technology to encrypt client data and information.

        Read Also: What Time Is Best To Buy Cryptocurrency

        Buying Bitcoin With Prepaid Debit Cards

        Several brokerage platforms also allow you to buy bitcoin with prepaid cards that have privileges over other payment options. Prepaid cards are becoming a more and more popular method for purchasing cryptocurrencies. First and foremost, these cards are more secure in the sense that you provide fewer card details than with debit cards.

        The next great thing is that you can use only the balance that you deposited on your card. It means that when you deplete your funds on your prepaid cards, you cannot take any debts, which lowers the risk of investing more than you can afford. Plus, your checking accounts are not connected to your prepaid card. Hence, if someone could hack and get your card details, they could not access your other accounts.

        To learn more about this payment option, visit our Buy Bitcoin with Prepaid Card guide.

        Withdrawing Bitcoin From A Brokerage Account

        How To Buy Bitcoin Step-By-Step Tutorial | Buy Bitcoin With Credit/Debit Card

        Bitcoin is a decentralized asset, which means theres less risk of losing your coins or being hacked. However, its not secure to leave your coins in your brokerage or exchange account as these are centralized, and if hackers hack your account, they can somehow access your bitcoins.

        To avoid this risk, you can create a bitcoin wallet account and withdraw your BTC into it. With this method, you get full access to your coins, and there is no third party between you and your coins. There are various versions of building your BTC account, and CFD trading platforms are among the providers of such wallets. If you want to get more information about safely storing , visit our guide to learn How to Open Your Free BTC Account.

        Best Platform to Buy Bitcoin with Debit Card

        • Free Wallet for 100+ Cryptocurrencies and Staking Rewards
        • Debit Card & Credit Card Deposits Accepted – VISA, Mastercard, Maestro, Amex
        • Trusted by Millions of Users trading Crypto, Forex, Commodities, ETFs
        • CySEC, ASIC & FCA regulated

        Read Also: How To Get Crypto Buying Power On Webull

        Can Ethereum Replace Bitcoin

        Yes, Ethereum can eventually overtake Bitcoin because it is more useful, and it has several technological advances.

        Ethereum can become the most bought cryptocurrency as its features and functions continue to increase. The risks involved with buying either Ethereum or Bitcoin are the same as with any other cryptocurrency. However, each of these coins has its own inherent risks and the major risks involved with Ethereum and Bitcoin are:

        • Regulation is still a problem involved with cryptocurrencies overall. If cryptocurrency becomes regulated, it will make exchanges centralized and it will require that these exchanges collect information necessary for KYC.
        • Technology refers to the risk that there could be vulnerabilities in the code of these projects. As Ethereum moves from a Proof-of-Work blockchain to Proof-of-Stake , it can change how transactions and decentralized applications are secured on Ethereums blockchain because PoS is experimental. In addition, while both operate on PoW, there is always the inherent risk of a 51% attack.
        • Competition refers to the fact that there are more than 13,000 other cryptocurrencies/Altcoins and more are emerging daily. The threat of a new competitor replacing Ethereum, and Bitcoin is possible, but not likely because of the size of these projects, widespread adoption, popularity, market capitalization, and trading volume.

        Hardware Wallet: Ledger Nano S

        The Ledger Nano S provides a fortress for anyone who wants to store digital assets. The device offers the best of both worlds for convenience and security with features like two-factor authentication, a PIN to confirm transactions and an LED display to validate payments. The wallet also runs on the BOLOS proprietary operating system, which supports Windows 7+, Linux and Mac OS 10.8+.

        Also Check: Which Cryptocurrency Should You Invest In

        Best Brokers To Buy Bitcoin With Debit Card In September 2021

        Numerous brokers support Bitcoin and accept debit cards as a payment method, but it may still be challenging to find the one that best suits you. In the following list, we have included the brokers reviewed by us and unanimously agreed on the best platforms to buy Bitcoin with a debit card.

        Notably, before recommending brokerage platforms, we usually review and select them according to some guidelines. First and foremost, we consider safety and whether the platform has strong regulations and privacy policy not to share your details with a third party. Our top recommended brokers, eToro, Plus500, Capital.com, and Libertex, are fully licensed and are regulated platforms by tier-1 authorities.

        Next, we review their pricing system, which includes what trading and non-trading fees the brokers charge. eToro, which heads our list, is one of the most well-known commission-free platforms that charges only spreads for crypto trading. Plus, it does not charge any deposit fees and sets only a small withdrawal fee. In contrast to most CFD trading platforms, Libertex does not take buy-and-sell spreads and charges small commission fees. Other platforms included in the list, by and large, charge reasonable fees.

        Popular news
        Related news