Having been in the news almost every single day this year and last, one would have thought that the curiosity surrounding the pioneering cryptocurrency Bitcoin would have died down by now. However, going by the questions that keep flooding in, the craze is still on.
Take a look at the questions below and see if you can figure out what aspect of buying Bitcoin is generating the most interest.
- How to buy Bitcoin with debit cards?
- How to buy Bitcoin with credit cards or a debit cards online?
- How to buy Bitcoin with credit cards without verification?
- How to buy Bitcoin with debit cards without verification?
- How to buy Bitcoin anonymously with credit cards?
- How to buy Bitcoin with credit cards instantly?
If you figured credit cards, you’d be bang on. So now we’ll tell you everything you need to know about how to buy Bitcoin.
How to Buy Bitcoin With Credit/Debit Cards
There are many exchanges that allow you to buy bitcoins with credit/debit cards. While the buying process may be slightly different in each of the exchanges, the basic principle involves the following steps.
- Make sure you have a Bitcoin wallet to store your bitcoins in.
- Create an account on a cryptocurrency exchange that supports Bitcoin buying.
- Log into your account.
- Navigate to “Buying.”
- Choose the coin you want to buy (in this case, Bitcoin).
- Select payment method (in this case, credit/debit card.)
- Link your credit or debit card to the exchange by following the prompts. Once your card is linked, you will get a confirmation which indicates that your credit or debit card has been successfully added.
- Select the amount of Bitcoin you want to buy. The price of your purchase will be displayed in U.S. dollars and in euros.
- If you have sufficient funds in your debit card account, or if the amount displayed is within your credit card limit, go ahead and purchase the Bitcoin.
Remember, once you purchase Bitcoin, do not leave it on the exchange. Transfer it immediately into your Bitcoin wallet.
List of Exchanges to Buy Bitcoin With Credit/Debit Cards
While most top Bitcoin exchanges accept many payment options, there are very few top exchanges to buy Bitcoin with credit/debit cards. Among them, fewer still are reputable enough for me to recommend.
With that in mind, here’s my list of top exchanges to buy Bitcoin on with credit/debit cards.
Note that, this year, some of the credit card companies in the United States—i.e. Chase, Bank of America, Citibank—have barred cryptocurrency purchases due to their volatility.
Top Exchanges to Buy Bitcoin With Credit/Debit Cards
Here are instructions on how to buy Bitcoin on the cryptocurrency exchanges Coinbase, Binance, and Bittrex.
How to Buy Bitcoin With Credit Cards on Coinbase
- Get a Bitcoin wallet.
- Create a Coinbase account
- Log into your Coinbase account.
- Go to “Settings” and then to “Payment Methods.”
- Click on “Add Payment Method.”
- Select “Credit/Debit Card.”
- Follow the prompts to enter your card’s information and your wallet address.
- Once your card is confirmed, go to “Buy/Sell” and buy your Bitcoin. The Bitcoin will be sent directly to your Coinbase wallet.
How to Buy Bitcoin With Credit Cards on Binance
Unfortunately, since Binance does not support fiat currency, you cannot buy Bitcoin with a credit card or a debit card on the exchange. The thing to do is buy a different cryptocurrency with your credit card and then trade that cryptocurrency for Bitcoin on Binance.
Of course, a simpler option would be to buy it directly on Coinbase.
How to Buy Bitcoin With Credit Cards on Bittrex
Like Binance, Bittrex is also a cryptocurrency-only exchange. And like most crypto-only exchanges, it does not support fiat deposits or withdrawals. Hence, there is no way of directly buying Bitcoin with a credit card on Bittrex.
How to Buy Bitcoin With Credit/Debit Cards Without Verification
If you don’t have the time and patience for verification, but you still would like to buy Bitcoin with a credit card, there is a way to do it. However, without verification, you can only buy less than $150.00 worth of Bitcoin.
Here’s how to buy Bitcoin with a credit card and no verification.
- Get a Bitcoin wallet because Coinmama, the exchange that allows you to buy Bitcoin without verification, sends the coins directly to your wallet.
- Create a Coinmama account with your e-mail address.
- Log into your Coinmama account.
- Go to “My Account” in the navigation bar at the top.
- Click on “Buy Bitcoins” in the navigation bar at the top. You’ll be taken to a page where you can select the amount of Bitcoin you want to buy.
- Use a calculator to figure out how much Bitcoin can get for $150.00.
- Once you’ve chosen your amount, click on the green “Buy Bitcoins” button.
- In the mode of payment, select “Credit/Debit.”
- Enter your Bitcoin wallet address by going to your wallet and copy/pasting the address into the wallet address field in Coinmama.
- Enter your billing information and mailing address.
- Enter your credit or debit card information.
- Verify your phone number and e-mail address. You’ll receive a four-digit short message service (SMS) personal identification number (PIN) and an e-mail confirmation.
- Upload a selfie with you holding your credit card toward the camera. You have to make sure your name, expiration date, and the first four and last four numbers on the card are visible. This is for Coinmama to verify that your credit card payment went through successfully.
Once your payment goes through, you will get a confirmation e-mail. Within 20–30 minutes of the confirmation, your Bitcoin will be deposited directly into your wallet. (Source: “How to Buy Bitcoin without Verification or ID with Cash or Credit card,” Buy Bitcoin Worldwide, last accessed February 28, 2018.)
How to Buy Bitcoin Anonymously With Credit Cards
One of the big problems of buying Bitcoin with a credit card is the lack of anonymity. If you want to buy Bitcoin with a credit card and still remain anonymous, there is only one way to do it: using a prepaid credit card. You can get this at most convenience stores or supermarkets. Use this card to buy Bitcoin on Coinmama (up to $150.00) or VirWox.
That about sums it up as far as Bitcoin and credit cards go.
If you want to know ways to buy Bitcoin with a credit card instantly, your best bet would be to open an account with Changelly. It is one of the most reputable exchanges to buy Bitcoin on with a credit card instantly.
If you want to know where to buy Bitcoin with a credit card in the U.S., your best option is Coinbase.
I prefer buying Bitcoin with fiat currency. To me, buying cryptocurrency with credit/debit cards defeats the very purpose of cryptocurrencies, which were designed to facilitate anonymous transactions. But hey, each to their own.