This article will help readers learn how to buy bitcoins with credit card how to purchase it using debit, credit and prepaid cards supported by different payment systems. Also in the article, there is important information regarding the choice of exchange service and guidance on how to safely and maximally profitably buy bitcoins. Here you can find the list of the most popular and reliable exchange services for today.
Table of content:
- New opportunities for business
- Support from banks worldwide
- Active investors’ attraction
- Which types of cards are available?
- The role of a payment system
- How to use an exchange
- Best services for BTC purchase
At the very beginning of bitcoin foundation in 2009, almost no one took this virtual coin seriously. Now, this is not only possible to mine BTC, but also buy it with a bank card. The business enjoys increasing popularity among private individuals, large blockchain companies, ICO projects owners, traders and all those involved in the sale and purchase of virtual currency. To buy BTC using your bank card, no complicated actions are necessary. The whole process will take only a few minutes, you need a computer or mobile device, connect to the Internet and perform several simple actions, which will be discussed below.
Trust relations between BTC and banks
When did bitcoin gain trust of the banks? After all, it is the antithesis of traditional money, future currency prototype, decentralized, independent and very proud of itself. Banks are working with fiat money, although, as critics say, in most cases, it’s just a paper backed by state guarantees, nevertheless, such guarantees are given. Many investors still prefer gold but not ether money which could not be seen and touched.
Precious metals, jewelry, money and other material values need strong and reliable safes, 24-hour security. Cryptocurrency is another thing. The hardware device for storing keys costs much less than a heavy safe, the desktop wallet hides the key with the help of a password phrase, and even the online version of such a service is completely reliable and safe if you don’t store large amounts there. The advantages are obvious, and many investors, at first hesitating, and then more confidently began to buy BTC and banks in their turn allowed doing with the help of debit card.
Banks should not be viewed as organizations of the old school. These financial institutions have existed for centuries, but they try to keep up with the times. The goal of their owners is to earn as much as possible, and why not to offer their services cryptocurrency purchase and sale of when it is mainstream and brings a real and impressive income? Individual cryptocurrency banks are only a matter of time, so you need to bet on the future and adjust to the current trends in the development of new financial systems.
How to buy bitcoins online with debit and any other card
Of course, one would like to conduct all financial operations related to the exchange of money here and now, without standing up, online. Visiting bank offices, communicating with clerks, filling out documentation – all this is yesterday question, takes a lot of time and attracts public attention to your personality. If in Asian countries, calculations using cryptocurrency are no longer exotic. Moreover, it is possible to purchase real goods and services for bitcoins; in many other parts of the world, such transactions still arouse keen interest and curiosity from outsiders.
So, banks and the BTC system allow you to execute transactions on the Internet. To fully understand how this technology works, let’s first understand what types of cards can be active participants in this process.
The bank issues a debit card on condition that the account is opened. In this account, the customer’s money is stored as well as payrolls, benefits, entitlements, etc. At any time you can withdraw your money from the cash machine, replenish your account, pay by card for purchases, and transfer a certain amount to third parties. In short, a debit card is your non-cash wallet.
If the word “debit” for those who are not familiar with the accounting may be a “difficulty translating,” credit is clear to everyone. So it is not your money. In this case, it is the funds of the bank, which, under certain conditions, is available to you. You can also make purchases, withdraw cash, transfer money to other users, but the amount on the card is limited, and sooner or later there will come a time when funds will have to be given back with interest.
A prepaid card is often called as a stored-value card. Interestingly, this term refers not only to banks. Prepaid cards are widely used in various business areas. And it does not matter what this piece of plastic or paper keeps – money, liters of gas, minutes for chatting. Who does not use a telephone, transport or fuel card? A popularization of this type of bank card began in 2000 in the United States, and now they are issued in large numbers.
Indeed the prepaid card is like a debit one. The account stores your personal funds, which you are free to use at your discretion. Therefore, in this case, there will be no problems either with how to buy bitcoins with a prepaid card. However, the card is issued for a certain nominal value, it can not be replenished, but on the other hand, there is no service charge. The fee is taken only for release. The payment instrument can be purchased anonymously, but in this case, the amount on the card will be limited.
Visa vs. MasterCard
The payment system is a way of transferring money in electronic form, including special program algorithms, rules, and hardware solutions.
- Visa is a payment system based in the United States. Payment instrument is USD. The system works in 200 countries of the world. It is an absolute market leader with share 30%.
- MasterCard is an American system too, but it uses EUR for its work. That’s why it is recommended for those who visit Europe.
So, the question of how to buy bitcoins with MasterCard does not cause you any difficulties with understanding. This is a standard card of a certain type, issued by a bank in one of 210 countries. Difficulties with the cryptocurrency purchase won’t appear.
Exchanges as the best services to buy BTC
Finally, we came to the very heart of the matter. You have a bank card and a certain sum of money on the account. So everything will turn out! Debit, credit or prepaid, Visa, MasterCard or even American Express – it does not matter. Your task is to choose a reliable service from the list that offers exchange services. Registration on exchanges is not complicated. Go to the main page, select the Sign-Up tab., enter the address of the mail, your data, and confirm the registration by reference which will appear in the email message.
How to choose an exchanger with the best commission and reliable reputation? As it has been already mentioned, there are a lot of web services for the exchange of cryptocurrency. The BestChange web service will help you. It contains the list of active exchanges on its pages, and as the administrators of the service itself assure, they publish only proven sites. You are able to find out the exchanger reserve, the rate of the financial pairs USD / BTC according to BlockChain and other useful information.
The interface of exchange services is thought out to trifles, there are tutorials and explanations. In the list of virtual currencies choose bitcoin, specify the amount in bitcoins (satoshi) that you expect to receive, and the system will immediately show the costs in ordinary money for this purchase. In the list provided, note your name, card number, expires (month, year), CVC number and ZIP code. In the corresponding slot type amount of bitcoins and your wallet address where the cryptocoins will be deposited to. Pay attention to the fee before confirming the start of the transaction!
Cryptocurrency owners buy bitcoin with a credit card for services such as Coinbase, Coinmama, Coinhouse, and BitPanda. Every day more and more commercial banks begin to work with clients directly without brokers to reduce risks and speed up transactions.