How to buy bitcoin with credit card is the topic and title of this article which mainly deals with digital coins. Digital money is a new technological concept used to serve and help humanity, among its numerous form is the bitcoin. Bitcoin can be bought with credit cards in many ways. This article will investigate how to buy bitcoin with credit card.
What is a bitcoin?
To learn about how to buy bitcoin with credit card, readers should first read a definition of the bitcoin. Bitcoin is a form of digital money which utilizes encryption to secure and control transactions. In other words, a worldwide payment system whose goal was to practice trade with no governmental control or cost and with no need to reveal one’s identity as the system works without a central bank or single administrator. It also exists, a “second generation” virtual currency, like Ethereum and Bitcoin Cash.
Bitcoin transactions are verified by network nodes by using cryptography recorded in a blockchain. An unknown person or group of people under the name Satoshi Nakamoto invented Bitcoin and released it as an open-source software in 2009. The following sections number six major ways to buy bitcoin with credit card.
It is the first way to buy bitcoin with credit card. Coinbase is the biggest bitcoin broker and the most secure online platform for buying, selling, transferring, and storing digital currency, supporting 32 countries. Coinbase is founded in 2012.
Coinbase mission is to create a worldwide financial system as the leading global brand that can be used to help people convert digital currency into and out of their local currency through their bank account, credit card, Paypal account, and other less popular methods. Coinbase gives a wallet, an exchange, and merchant tools within one interface.
To have an account a customer should supply the full name, email, and accept Coinbase user agreement. If one needs to be capable of buying Bitcoins with Coinbase, one will need to supply a valid bank account to allow bank transfers to Coinbase. Once one’s Coinbase account is set up, then the customer will be able to buy a small amount of Bitcoins until raising the limit. Coinbase is a very useful way to buy bitcoin with credit card.
It is the answer of how to buy bitcoin with credit card. Founded in 2013, Changelly is a cryptocurrency exchange available around the world. Changelly shows a long list of digital currencies to buy and sell. However. Changelly does not allow conversion to or from traditional currencies.
It does this by suggesting the best currency rates directly on its web from the largest crypto trading platforms. Changelly has so low fee in order to facilitate trading: 0.5%. Users will pay networking fees too which are collected by the blockchain network. Transactions are probably done in 5-30 minutes. Yet, it is based on the capacity of the blockchain network at the time of one’s trade.
Changelly can be very trusted exchange because its service is safe, secure and convenient to use. The platform enables 2-factor authentication to protect one’s account which is Google and email. Changelly is then very effective to buy bitcoin with credit card.
Another method to buy bitcoin with credit card is Coinmama. Coinmama is one of the best legitimate bitcoin broker founded in Israel since 2013. Coinmama fee is of 5.50%. The smoothness if coinmama is popular with a quick customer service, extremely less struggle while verification. Coinmama is the best securely bitcoin whose process happens with absolutely no hurt to user privacy.
The main advantage for Coinmama is the simplicity and ease of utilization that requires: 1: Choosing payment way, 2: Following the instructions, 3: Completing the payment and confirming one’s crypto wallet address.
However, coinmama’s side effects are; Only offering Bitcoins and Ethereum, and not offering storage. For that, coinmama is very helpful to buy bitcoin with credit card.
A fourth way to buy bitcoin with credit card is Bitpanda. Founded in 2014, Bitpanda is bitcoin cryptocurrency by Coinimal GmbH which is an Austrian company has no specific licensing provided. Bitpanda suggests a transaction time less than two minutes.
Bitpanda only supports currently four of the major cryptocurrencies containing Bitcoin, Ethereum, Dash, Bitcoin Cash and Litecoin. As a deposit limit, one can get to a daily limit of €1,500 after confirming email and phone number.
Bitpanda doesn’t authorize trading on leverage. One can easily transfer coins to another exchange, which permits margin trading, like Kraken. And, there is no information about fees of Bitpanda because they are included in the end-price the customer gets after the purchase of coins.
One of the main advantages of Bitpanda is the numerous manners of payment; such as Bank Transfer, Credit Card, Neteller, Skrill, PaySafe Cards, iDeal, PayU, Ukash, Yandex and a few less-popular e-wallets. Not very satisfying as others, bitpanda is still away, to buy bitcoin with credit card.
To buy bitcoin with credit card, people can use cex.io. CEX.IO is among the oldest Bitcoin exchanges in the world. It began in 2013 in London. CEX.IO gives its customer fiat money trading cryptocurrency.
The exchange fees vary from 0% to 0.25% on trade operations. The platform introduces a list of cryptocurrencies which contains Bitcoin, Ether, Ripple, XLM, Bitcoin Cash, Dash, Zcash, and Bitcoin Gold. CEX.IO permits one to buy Bitcoins utilizing credit card, a wire transfer or a SEPA transfer.
Yet cex.io transactions are different for they are based on FOk because of which whatever the customer agrees to pay or get, that’s exactly what will absolutely happen. However, cex.io is a well-known method to buy bitcoin with credit cards.
A last but not least, Coinhouse is a pretty good way to buy bitcoin with credit card. Coinhouse is a cryptocurrency exchange that is founded by a French founder the Paris-based company La Maison du Bitcoin. Coinhouse operates in the EU.
Coinhouse suggests trading operation in Bitcoin and Ether for EUR and the other way around.
The benefits of coinhouse:
1-accepting payments with credit cards, French exchange – Paymium, payments with debit cards, online shopping Neosurf prepaid card. Payments are 3D secured and with bank transfers.
2-Coinhouse’s services are instant and that is its greatest advantage.
3- coinhouse is also easy to utilize.
4-Coinhouse doesn’t offer own e-wallet, but advice the Nano S hardware wallet Ledger.
5-coinhouse has its excellent reputation as it is a company following KYC and AML laws, that is, a company that is regulated.
The side-effects of coinhouse:
1-For cards payments, the fees change from 8 to 10%, depending on volume, which is actually elevated compared to her exchanges.
2-It demands from its customers to distinguish themselves with ID, ID selfie and proof of residence. Coinhouse doesn’t accept national IDs related to another country but France and only a passport are accepted.
3-as most other bitcoin brokers, Coinhouse doesn’t display leveraged trading.
4-Coinhouse accepts the payments of the transfer of the bank, however, the minimum sum which may be transferred is EUR 100. In addition, there are the fees of the bank.
5- the trading limit is set at EUR 200 to EUR 5000 in a day, based on the documents type and quality that one gives.
6-there is no information about coinhouse platform.
Even though these disadvantages, coinhouse is an extremely popular and effective method to buy bitcoin with credit cards.