How to buy Bitcoin? A beginners guide

How to buy Bitcoin with credit cards? A beginner’s guide.

  • 21 November 2020
  • 752 View

To Buy Bitcoin with credit cards you can do it online and through the Internet. These days it has become much easier to buy bitcoins with a credit card. With this method, the problem of payments through anti-fraud companies has been reduced and more exchanges with credit cards as a valid payment option are possible. First of all, you don’t have to buy a whole unit of bitcoin. This cryptocurrency can be divided into eight decimal places and for example, you can buy 0.001 from one bitcoin or even less.

The safest way to buy bitcoin is to go to a reputable cryptocurrency exchange website. Although Bitcoins can be purchased in other ways, such as telegram or WhatsApp groups, or from individuals that may not be safe. Because Bitcoin transactions are almost anonymous, buying these cryptocurrencies through social media and people you do not know enough is very risky.

If you live in a country where you do not have an international credit card, you can easily buy bitcoin with credit cards that are acceptable in your country, directly. Also, you can convert other cryptocurrencies into bitcoins from a local Bitcoin exchange site.

If you live in other countries, you can buy Bitcoin with credit cards or bank accounts from an international Bitcoin exchange. In the continuation of this article, you will read more details on how to buy Bitcoin with credit cards from a Bitcoin exchange.

How to buy Bitcoin

How to buy Bitcoin

Where to buy Bitcoin with credit cards?

Here are some of the most popular places and ways to buy Bitcoin with credit cards.

  • Buy Bitcoin with credit cards through Coinmama
    Advantages: Good support, reputable company, fast service
    Disadvantages: Not available worldwide
    Coinmama has been specializing in buying bitcoins via credit card since 2013. They charge a premium for their services. And they do not limit you, and also, you can buy the maximum bitcoin you want. Also they provide fast and reliable services. Bitcoin will be received immediately after confirmation of your purchase and has great support.
  • Buy Bitcoin with credit cards through eToro
    Benefits: Low cost, user friendly
    Cons: Cannot receive real coins
    eToro offers various digital currency services such as wallet, CFD service as well as set exchange. You can buy and sell Bitcoin only in Fiat currency (USD, EUR, etc.) using your credit cards at relatively low costs. That means you do not have real coins. 75% of retail investor accounts lose money when trading CFDs with this provider. You need to consider whether you can afford to lose your money.
  • Buy Bitcoin with credit cards through CEX.IO
    Advantages: Experienced company, high purchase limit
    Disadvantages: does not have good support, the exchange rate is higher than competitors
    IO was established in 2013 as a crypto exchange broker that is trusted by more than 2 million users. CEX.io operates in the United States, Europe, and some South American countries. This site provides you with a complete trading platform as well as brokerage services.
  • Buy Bitcoin with credit cards through Coinbase
    Pros: User-friendly interface, relatively low cost, good reputation
    Cons: Not available worldwide, too bad support
    Coinbase is the largest bitcoin broker in the world. The company has more than 20 million customers worldwide. Coinbase charges 3.99% of all credit card transactions. Available in 103 countries worldwide. When you buy more than $ 100 bitcoins, you will receive $ 10 bitcoins as a reward.

Buy Bitcoin with credit cards through Coinbase

Buy Bitcoin with credit cards through Coinbase
  • Buy Bitcoin with credit cards through Binance
    Advantages: Good reputation, available worldwide.
    Negative: Approve process, support.
    Binance is a crypto exchange. There are 2 methods to purchase BTC on Binance:
    • through your debit card, credit card, or bank account,
    • purchase crypto instantly from other traders,

Because of the partnership of this exchange with Simplex, you can buy Bitcoin with a credit card in Binance. Although Binance has little work experience, it has surpassed most exchanges in terms of popularity and trading volume.

Buy Bitcoin with credit cards through Binance

Buy Bitcoin with credit cards through Binance
  • Buy Bitcoin with credit cards through LocalBitcoin
    Benefits: Wide range of vendors, easy to use interface
    Disadvantages: Sellers usually charge higher fees to buy a credit card, there is a possibility of fraud.
    LocalBitcoins is a peer-to-peer marketplace for buying and selling bitcoins. You can think of it as an eBay store for bitcoin. This site has different sellers who accept different payment methods including credit cards. The main issue when using LocalBitcoin is that you need to filter out vendors by checking them to avoid fraud. One thing to keep in mind is that if you are new to LocalBitcoin, many sellers will probably not want to trade with you because they think you are cheating.
  • Buy Bitcoin with credit cards through Bitstamp
    Advantages: Excellent reputation, multiple payment options, accept customers all over the world
    Disadvantages: Medium cost, the verification process may take a long time, not very user friendly
    Bitstamp was founded in 2011 and is one of the oldest and most reputable bitcoin exchanges. The exchange is fully licensed by the Luxembourg Ministry of Finance. Bistamp accepts credit card purchases via Simplex. The service is currently open to most European and American citizens.
  • Buy Bitcoin with credit cards through IndaCoin
    Advantages: Good support, available worldwide
    Disadvantages: High costs
    Indacoin is an exchange in the UK that allows users around the world to buy bitcoins with a credit card. The minimum amount is $ 5 and the limit for the first month is $ 500. After 40 days, your monthly limit will increase to $ 3,000. To use your credit card, you must verify your credit card phone number and five-digit code.

What are the steps to buy Bitcoin with Credit Cards?

To buy Bitcoin with Credit Cards from an exchange, follow a few simple steps:

  • Install BTC wallet
  • Find a valid Bitcoin exchange
  • Perform authentication with identification documents
  • Purchase your desired amount of BTC
  • Receive it in your wallet.
  • Each item is described below.

Buy Bitcoin with Credit Cards

How do you Buy Bitcoin Online with Coinmama?

With Coinmama, traders in 190 countries worldwide and 40 states of the US can buy Bitcoin with Credit Cards via the internet in the following steps.

  1. First Register in Coinmama,
    • Go to www.coinmama.com,
    • click “sign up”,
    • Enter your name and country,
    • Register your email address.
  2. Get verified for purchase by,
    • Entering your ID information,
    • Uploading a selfie photo with your ID card,
    • Get verification to Buy Bitcoin online.
  3. Placing your first order,
    • Log into your Coinmama account, then click “buy”,
    • Choose your cryptocurrency,
    • Choose an amount,
    • Add your Bitcoin wallet and payment details.
  4. Choose your payment method,
    • Choose to buy bitcoin with a credit card, debit card, or bank transfer,
    • Enter your payment details like a credit card,
    • Follow the payment by bank transfer.
  5. Confirm your cryptocurrency wallet address,
    • If you buy Bitcoin with credit cards, you will get your BTC wallet confirmation link after receiving your payment.
  6. Wait for your coins
    • If you buy Bitcoin with credit cards, you should get your cryptocurrencies a few minutes after your payment is processed. You’ll be able to see them on the blockchain as soon as they’re processed and sent,
    • The coins should appear in your wallet about 10 min after blockchain confirmation.
    • By paying via a bank transfer, you received, generally in 1-3 business days.

Buy Bitcoin Online with Coinmama

How to install a Bitcoin wallet?

You need a place to store cryptocurrencies for buying bitcoins. You can think of a Bitcoin wallet as your bank account, which can be used to receive, store, and send bitcoins. There are different types of bitcoin wallets:

  • The software wallets of this cryptocurrency are free. They can be easily installed on mobile phones based on Android and iOS. They are executable in personal computers based on Windows, Linux, and Mac.
  • Some wallets are also web-based and can be connected to Internet browsers (such as Chrome).
  • Hardware wallets are physically available and must be purchased. So they are more secure than others.
  • In addition to the bitcoin wallet, you can create Tether Wallet, Ripple Wallet, Ethereum Wallet and Bitcoin Cash Wallet.

How to find a reputable Bitcoin exchange?

After choosing and installing a Bitcoin wallet, you need to find a reputable seller. So you can buy Bitcoin with credit cards online from platforms like a cryptocurrency exchange. Given the many scams in this area, we suggest that you buy bitcoins from famous exchanges. You shouldn’t trade on social networks with people you do not know.

You should check its validity before registering with an exchange office. Checking the address, phone number, and activity history are among the most important things to check.

You can buy BTC with credit cards from international exchange offices. In some countries, it is not possible to buy directly due to prohibitions and you usually have to get help from intermediaries which will increase your cost.

How to buy Bitcoin by exchanging with other cryptocurrencies?

If you have Tether or other cryptocurrencies, you can convert it to Bitcoin in international exchanges such as Binance. For this method, you often have to go to other exchanges to purchase Tether and then convert it to Bitcoin. So if you are going to purchase Tether and convert it to Bitcoin, it will be cheaper for you.

In some exchanges, buyers and sellers are real people, and the exchange only acts as an intermediary, charging a small fee for each service.

Also in some other exchanges, users trade directly with the exchange itself. After purchasing Bitcoins, some sites store Bitcoins in the wallets on the site, but for added security, you can transfer your bitcoins to your wallet.

Buy Bitcoin via ATM

What is the cheapest way to buy Bitcoin?

Some people buy Bitcoins directly from miners, so they no longer have to pay commissions and fees to exchanges.

It is also possible to buy BTC with credit cards and cash at the Local BTC exchange website. You can buy and sell in cash through the https://www.buybitcoinworldwide.com/exchanges/localbitcoins/.

The following is a quick step-by-step guide on how to buy Bitcoin with cash on this website:

  • Find a seller in your area who will accept cash.
  • Select the number and type of coins you need.
  • Place your order.
  • Get the account number from the seller.
  • To buy Bitcoin with credit cards, deposit cash to the seller’s account.
  • Upload and save your receipt to prove the transaction and deposit the money.
  • Your bitcoins will be deposited into your LocalBitcoins wallet.
What are the pros and cons of entering to buy Bitcoin with credit cards directly?

The pros of the interest to buy BTC with credit cards are as following:

  • Trade can be private, quick, and simple,
  • This trade doesn’t require any particular information about personal data,
  • Buying Bitcoin can be made quickly via cash payment.

The following are the cons:

  • Be careful of scams and always accept the rules!
  • If you buy large amounts of Bitcoins, it is more difficult in comparison to large exchanges.
  • For more privacy, the Bitcoin price is higher than the normal exchanges.

2 responses to “How to buy Bitcoin with credit cards? A beginner’s guide.”

  1. Herve Fodouop says:

    Good informations

  2. Yanga Jili says:

    Noted and will follow though….Nice article

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