Cryptocurrency bitcoin is now on its road to a real mainstream. We know the great difficulty is to adoption is the ability for users to buy bitcoins with credit card instantly. A lot of places to buy or sell bitcoin allow some payment options, with the exception of credit and debit cards. One of the reasons for this is the irrevocable moment of bitcoin transactions. However, there are a lot of legitimate BTC merchants that have started accepting credit and debit cards (because it’s the best method of payment). Here are some of the popular and legal bitcoin sites where anyone can use his debit or credit card to buy bitcoin. When it comes to using a credit card, most of these sites have a credit card purchase limit. Therefore, before performing transactions, check with your bank how much you can spend on buying bitcoins.
The best tips on buying cryptocurrency, analyzing the best rate, and other useful things can always be obtained by writing to knowledgeable people on the ChangeHero.io website. It is here that you will be prompted and shown the right path if you are seriously interested in cryptocurrency. So, this is the main question for today: can you buy crypto with a credit card?
Platforms for buying bitcoins
These are the best places where you can buy crypto with the help of your credit card.
- After registration, you should confirm your account and go to “Cards”. Then add the necessary ones. It may take up to 3 business days for your credit card to be verified, but once it has been approved, you can immediately use it to buy bitcoins quickly. In addition to buying bitcoins on cex.io, you can also buy Ethereum using your card.
- CoinBase. This site is famous for buying Bitcoin, Ethereum, and Litecoin. The site also supports cryptocurrency purchases using credit and debit cards and is a fast process. Note that this feature is only available to US residents. To buy bitcoins on Coinbase with a card, you need to do the following thing: register and create an account. Then complete full identification. Then go to the “Payment settings” and just select and add your card. There are 2 small transactions here. Sign in to your account in statements and note the small amount of the transaction. Add to account on the payment page (this verifies the card). Then you can immediately and at any time buy yourself bitcoins using your verified credit or debit card.
- Coinmama. This is another site where you can use your credit or debit card to quickly buy bitcoins. The great token of Coinmama is that it does not require you to open a bitcoin wallet with them. To purchase, you need to add your bitcoin address to which you want to receive BTC.
- Bitit. It is a French-based bitcoin company that sells bitcoin and other popular cryptocurrencies. Bitit proudly claims that this is the easiest place to start using crypto. There is some truth in this. the company sells cryptocurrencies for more than 10 fiat currencies. Of course, Bitit also sells digital currencies through credit and debit cards. After verification, you will be able to buy bitcoins, but with some restrictions. For example, such as buying cryptocurrencies up to 1500€ per week using a credit or debit card. Purchase up to 2500€ per week in cash or direct bank transfer.
Can you buy crypto with a credit card? Of course, you can! It seems that this question is closed because at the top are the best platforms where you can do this.
Which cryptocurrency to choose
The most popular digital currencies are BTC, ETH, BNB, and SOL. But besides them, there are many other coins. As a rule, these cryptocurrencies show long-term growth. More experienced traders can look at new promising coins by studying statistics and expert opinions. Rating of cryptocurrencies, current prices, and charts can be viewed on specialized sites. What is required to buy cryptocurrency? To purchase virtual currency for fiat money, you need the following:
- Crypto wallet.
- Selected cryptocurrency purchase service.
- Payment method — debit or credit card, bank account, or payment system.
- Identity documents.
Some words about security. It is important to follow the basic security rules: Use services with a high rating and positive reviews. Use two-factor authentication. In the case of P2P trading, transfer the cryptocurrency to the counterparty of the transaction within the service, do not exchange data directly.
Best place for buying crypto: Crypto Exchanges
Exchanges are special trading platforms that allow you to buy digital currencies, including fiat money. One of the advantages of exchanges is the extensive functionality, which is important for advanced users. However, when buying virtual currencies on crypto exchanges, you face the danger of their potential hacking with all the ensuing consequences, such as leakage of personal data and loss of your own funds. To protect yourself from this, you should choose large and well-known trading platforms that carefully take care of their security, as well as the security of their users. Exchanges are of two types: Centralized (Centralized Exchanges, CEX) and Decentralized (Decentralized Exchanges, DEX). The main difference between centralized exchanges is that they are managed by the administration of the exchange. Some of the most famous crypto exchanges: Binance, OKEx, KuCoin, Bitfinex, etc.
The benefits of all of the above are very high. For example, it is possible to purchase digital assets with fiat using your bank account or credit card. There is also extensive functionality here – various charts are built into the platforms for analyzing price movements, the possibility of margin trading, futures, and so on. There’s also regulation: exchanges offer deposit insurance and bankruptcy compensation to their clients.
Is it worth buying crypto with a credit card?
Finding a place to buy bitcoins is only half the battle, you will also want to make sure that your bank or Credit Card Company actually verifies the purchase. Otherwise, the payment will not go through, and you will not receive anything. When it comes to credit cards, Visa and Mastercard allow you to make purchases in cryptocurrencies – at least for now. As for banks, here it is necessary to analyze the statements of official representatives regarding the work of a particular bank with cryptocurrencies. However, buying bitcoins is still very similar to gambling. The market is so unstable. The risks (and potential rewards) are so great. Therefore, it is important to only invest what you can afford to lose, and this is especially true if you use a credit card.
According to a survey published a few months ago, 18% of bitcoin buyers used a credit card. Of this group, 22% of people did not pay interest, instead saying they planned to use the money they made with the bitcoin they purchased to cover the future interest. Perhaps it is a temptation to spend more than you can afford and assume that you will get the money back as an increase in the price of bitcoins. But if the value of your cryptocurrency doesn’t go up (or worse, if it goes down), you could end up with a ton of debt. So, in this case, you need to be very careful.
So, back to the main question: can you buy cryptocurrency with a card? Of course, this is all real. The main thing is to do it competently, wisely, after analyzing and weighing all the pros and cons.