How to buy Bitcoin with the easiest Credit Card for Beginners?
If you are interested in buying bitcoin with a credit card, you will be pleased to know that many platforms accept Visa and Mastercard for this purchase.
Credit cards are different from debit cards because they are not linked to your checking account. Credit cards allow you to buy goods or services with the money you put on the previous card.
Although this method of obtaining Bitcoin is not the most popular, there are several services that allow you to buy coins using a credit card.
Buy Bitcoin with a Credit Card at Exchanger
Coinbase
Coinbase, is one of the most popular and trusted exchanges in this space that has been dealing with cryptos since 2012. The company adheres to many regulatory requirements, aspects that might be a problem for users who do not want to provide their ID documents. They also support purchasing coins through credit cards.
Lower costs compared to Coinmama, are a plus for those who want to buy regularly. Even though they have small crypto options, Coinbase continues to add new ones. Besides BTC, ETH, ETC, LTC, ZEC, BCH, they also support less popular altcoins such as ZeroX, district0x, DAI, Civic, Golem, Loom Network, and Basic Attention Tokens.
Advantages:
- Easy to use interface
- Allows you to buy crypto instantly
- Acceptable trading fees (± 1%) and card fees (3.99%)
- Have insurance from FDIC
Coinmama
Coinmama, is an exchange that operates from Slovakia. This is a large exchange that has credit and debit card payment options for buying BTC. Credit card platforms only function for services that support Visa / Mastercard.
Besides Bitcoin, they also support other large altcoins such as Ethereum, Ripple, Cardano, Qtum, and Ethereum classic.
Advantages:
- Supports many languages
- Many payment options
- Can be used in more than 220 countries
Disadvantages:
- You cannot sell cryptos
- Expensive trading fees (5.9%) and card fees (5%)
- Bank transfers can only be done in EU countries
CEX
CEX, is a London-based crypto exchange that began operating again in 2013. The trading platform is known for offering cheap card payment methods to buy cryptos. It supports Bitcoin, Bitcoin Gold, Bitcoin Cash, Dash, Ethereum, Ripple, ZCash, and Stellar.
Fiat options that are supported are Dollars, Pounds, Euros and Rubles.
Advantages:
- Simple interface
- Low costs: trading (± 0.25%) and card fees (± 3.5%)
- Decent exchange rates
- Good customer support
Disadvantages:
- High costs for instant purchases / sales (± 7%)
- Do not accept US clients
Paxful
Another BTC peer-to-peer market, Paxful is a platform that connects buyers with sellers. This platform supports many types of credit cards, including Google Play Gift Cards, eBay Gift Cards, or PlayStation Network Gift Cards.
Paxful can be accessed by users from almost all countries, and also supports conversion in your local currency to facilitate the trading process. The only coin they offer support for now is Bitcoin.
Advantages:
- Transaction fees (1%) are only charged to sellers
- Long list of payment options
- Showing escrow service
Disadvantages:
- The exchange rate is high because the user sets the price
- Low liquidity on certain cards
- Chances are higher for cheating
Local Bitcoins
Local Bitcoins, is a Finnish peer-to-peer platform launched in 2012. They support a variety of payment options including iDEAL, PayPal, Western Union, and Amazon gift cards among many others. Services are also available, having a mediator role between buyers and sellers in the event of a dispute.
Advantages:
- Transfers have no restrictions
- Supports many fiat currencies
- Many payment options
- Escrow service is available
- Low 1% fee for all transactions
Disadvantages:
- Higher level
- Some users report fraud
- Low liquidity depends on the region
How to buy BTC with a Credit Card?
If you are sure you want to buy bitcoin with a credit card along with a guide that you can follow.
Step 1: Install the BTC wallet
Download and install a wallet that supports Bitcoin.
Step 2: Choose an exchange that supports that option
Look for exchanges that match your price range and other requirements.
Step 3: Create an Account
Register an account using your name and email.
Step 4: Select payment options
Find in the settings section, the payment method option button.
Choose to buy with a credit / debit card.
Step 5: Verify your account
Send your ID documentation or other requested documents.
Your identity will be verified immediately.
After this procedure is complete, you can start buying coins.
Step 6: Buy Bitcoin
Find the "BUY BITCOIN" button in the exchange user interface. this is very easy to find.
Use a credit card to enter funds in your account to buy Bitcoin. Drag your Bitcoin into your wallet.
