It is becoming considerably easy to buy Bitcoin using a credit card these days. This article will go over how to buy Bitcoin with a credit card in popular exchanges.
If we are used to making all our purchases with a credit card, we might be astonished to hear that purchasing Bitcoin and other cryptocurrencies may be impossible. If we try, we may be restricted in two ways: by the cryptocurrency exchange where we are trying to buy it or by our credit card issuer.
Credit cards are not accepted by certain major cryptocurrency exchanges. Coinmama and CEX.io accept credit cards, but only Visa and Mastercard. Even if your credit card issuer authorizes it, that does not imply you can do it. Today, we prepare a comprehensive guide to becoming a cryptocurrency owner with minimal effort using credit cards.
How to Buy Bitcoin on Binance
As a cryptocurrency exchange, Binance has a relationship with Simplex that allows us to buy Bitcoins with a credit card. Despite being relatively new, Binance has outperformed other seasoned exchanges in popularity and trade volumes.
Follow the steps below to get started buying Bitcoin on Binance via Credit Card:
- Click on Buy With Cash.
- Select Credit/Debit Card.
- To see the list of supported fiat currencies, click on "USD".
- In the search bar, type the name of your fiat currency, or scroll down the list to find your local fiat currency.
- Please enter the amount you want to spend in our chosen fiat currency, then choose BTC as the cryptocurrency you want to buy.
- Click Buy after adding a new card or the card you want to use for the purchase.
- Check if the amount you want to spend is correct, then hit the "Confirm" button at the bottom of the screen.
- The Bitcoin purchase has been transferred into your Binance Spot Wallet, and the transaction is complete.
How to Buy Bitcoin on CEX.IO
In short, here are several steps to buy Bitcoin in CEX.IO:
Register An Account
Your email address, country of residence, first and last names, and date of birth will be required. Before making a purchase, residents of the United States should pass identity verification. Enabling 2FA is strongly advised to protect your account and funds.
CEX.IO is required to identify its consumers as an authorized cryptocurrency exchange platform. On CEX.IO, Identity verification assists in preventing the establishment and use of fake accounts.
Open Buy/Sell Page
You will find crypto packs in commonly purchased amounts at predefined prices on the Buy/Sell page.
Choose the Cryptocurrency
To buy Bitcoin, choose from any supported cryptocurrencies and a fiat currency.
Select a Pack or Enter the Amount You Wish
The minimum amount you can choose is twenty dollars. A commission for the service is included in the estimated purchase amount. To proceed, click Buy once you have decided on the amount to purchase.
Link a Credit Card
You will be asked to enter our debit/credit card information on the next page. Ensure everything is in order and you are satisfied with your purchase order.
How To Buy Bitcoin on Coinmama
Coinmama does not maintain your Bitcoins, so to trade in this exchange, you must first get a Bitcoin wallet. Most cryptocurrencies have an official wallet or a few third-party wallets that are officially endorsed. Wallets are used to store, send, and receive digital currency.
After having a wallet, create an account with Coinmama by signing up. It only takes a few minutes. You will receive an email with a confirmation link when you are finished.
Next, you must validate your account. Uploading your passport, national ID, or other papers is required. Once it has been processed, approved, and cleared, you can buy Bitcoin.
Log in to your Coinmama account, enter the required wallet address, complete the form, and purchase Bitcoin. You can buy Bitcoin for up to $15,000 with your credit or debit card.
How To Buy Bitcoin on Coinbase
Coinbase is the world's largest Bitcoin broker. It has a global customer base of around 30 million people. Coinbase imposes a convenience fee of 3.99 percent on all credit card transactions and is accessible from anywhere in the world. You can earn an additional $10 Bitcoin incentive if you purchase more than $100 worth of Bitcoins.
Here are the crucial steps for buying Bitcoin via Credit Card in Coinbase:
- Register a Coinbase account.
- Add a payment method. Go to Settings, then Payment Methods, and then Add Payment Method.
- Click on the Debit/Credit Card option.
- Enter the necessary information.
- You can proceed to Buy/Sell and buy Bitcoins once your card has been validated.
- Your Bitcoins will be transferred to your Coinbase account.
How to Buy Bitcoin on Bitpanda
Bitpanda is one of the most popular cryptocurrency exchanges in Europe. Bitpanda accepts various payment methods, with credit cards being one of the most common. Furthermore, the exchange has one of the lowest credit card deposit fees in the crypto business. At a 1.50 percent deposit fee, it is certainly worth checking out.
It is straightforward to pay using a credit card on the Bitpandas platform. You have the option of using a VISA or a Mastercard. The funds are immediately available in your account, and you may use them to purchase Bitcoin or any other 30+ cryptocurrencies, including their coins called Pantos (PAN) and Bitpanda Ecosystem Token (BEST).
They also provide a feature called "Savings Plan," a recurrent purchase that may be made daily, weekly, or monthly. With this facility, you do not have to frequently monitor the price chart to invest in Bitcoin or any other crypto coin since your transactions will be set as scheduled.
Here are the steps on how to buy Bitcoin on Bitpanda:
- Register an account and fill out the form.
- Click Trade and then Buy.
- Select Bitcoin or any cryptocurrencies you want to buy.
- Fill out your desirable wallet.
- Choose the amount you want to buy and then follow all the steps.
Since there are so many exchanges, deciding the ideal platform for buying Bitcoins might be difficult. Convenience is one of the important factors, and if you're more comfortable with depositing funds via credit card, then choosing exchanges that accept credit card payments can be a good start.
Also, it's always safer to start with a bit of money and work your way up to more significant amounts once you are familiar with the procedure. Once you have taken the initial step, you will see what you truly value in a transaction and adjust your decisions appropriately. To help you navigate the cryptocurrency market, we have compiled five cryptocurrency trading strategies for beginners.