Buy Bitcoin with Debit Card
When you search through the leading online cryptocurrency exchanges, buying Bitcoin has never been easier. As the industry has grown in popularity, the number of payment options has increased. Indeed, it’s no longer the case that crypto-to-crypto exchanges are the only way to buy Bitcoin. Today, fiat deposits are gaining traction thanks to debit cards such as Visa and MasterCard.
Because debit cards are a tried and tested method, it’s actually making BTC trading more accessible. In fact, when you combine these payment methods with a user-friendly exchange, investing in cryptocurrencies has never been easier. To show you what we mean, take a quick look at our eToro review. Once you’ve done that, come back and we'll walk you through the best ways to buy Bitcoin with debit card processors such as Visa and MasterCard.
5 Quick Steps to Buy Bitcoin with Debit Card Providers
To purchase Bitcoin with a debit card, firstly register with an exchange. Log in and select credit/debit card as your payment method and make a deposit - there will be a minimum deposit value that is usually around £200. Then, simply place an order for Bitcoin and wait to see if the BTC price movements earn you a profit.
Once you learn how to buy with debit card processors, you can trade Bitcoin directly or via CFDs (contracts for difference). When you trade BTC directly, you’ll own the underlying asset (i.e., Bitcoin tokens). However, with CFDs, you won’t own the underlying asset. Instead, you’ll be speculating on BTC price movements. This means you can say the price will increase or decrease. What’s more, because you don’t hold any tokens, it means you won’t need a cryptocurrency wallet.
Buying Bitcoin with a debit card on exchanges
Can I buy Bitcoin with debit card processors at most cryptocurrency exchanges? Yes. As the industry has evolved, more operators are embracing Visa, MasterCard and other debit card processors. An example a trustworthy place to buy Bitcoin with debit cards is Changelly:
Step 1: Which ever exchange you choose to purchase, read our expert exchange review and register your first account using the secure sign-up link.
Step 2: For Changelly exchange: verify your account, log in and select your native fiat currency from the dropdown menu, e.g. GBP.
Step 3: Select the cryptocurrency you want to buy (e.g. BTC) and then input the amount you want. The minimum amount is £50.
Step 4: Input your Bitcoin wallet address (i.e., where to send the coins) and debit card details.
Step 5: Send the funds, wait for an exchange to process the transaction and send the tokens to your wallet.
Buying Bitcoin with debit card providers directly from a seller
Can you buy Bitcoin with debit card processors like Visa from individuals? Yes. To see how you can do that, take a look at our LocalBitcoins review. Doing business on a personal level can open up some great deals. However, it’s important to acknowledge that it also contains some risk. Because you’re dealing with real people and not a regulated company, anything can happen. Although LocalBitcoins does everything it can to keep you safe, you have to be aware that there are some risks with this method of buying BTC with debit cards.
Buying Bitcoin with debit cards: what are the fees?
Once you learn how to buy with a debit card, you’ll find that all deposits are fee-free for many exchanges. As long as you meet the minimum deposit, there are often no additional costs. On the way out, there will be a minimum withdrawal fee (converted to your local currency) as well as a flat fee (converted to your local currency).
Should I buy Bitcoin?
If you look at the price of BTC, you might feel as though it’s not worth buying. Because the price is a lot higher than many of the leading altcoins, you may feel other options are more attractive. However, when you break it down, Bitcoin is still one of the best cryptocurrencies out there. Aside from being the original crypto, this project has stood the test of time. Moreover, it’s the one that almost everyone knows about. Finally, you can buy Bitcoin with debit card processors at almost every major platform. Therefore, it not only has a strong reputation, it’s easy to get. For those reasons, it’s a crypto you should strongly consider investing in.
Featured image: Yaroslau Mikheyeu
Is it safe to buy Bitcoin with debit card providers?
Yes. Visa, MasterCard and Maestro are all subject to strict financial regulations. Therefore, all transactions should be 100% safe.
How much does it cost to buy BTC with debit cards?
Charges will vary, but the popularity of debit cards means that the top exchanges keep their fees as low as possible.
Will I make money if I buy Bitcoin with debit card processors like Visa?
It’s certainly possible. Bitcoin is a strong cryptocurrency and debit cards give you an easy to trade.
Can you buy Bitcoin with debit card providers at every exchange?
Although crypto-to-crypto exchanges are still popular, fiat-to-crypto platforms are gaining traction. At virtually all fiat sites, you should be able to use debit cards.
What if I don’t want to buy Bitcoin using debit cards?
There are plenty of payment options at most exchanges. Bank transfers and eWallets are great alternatives to debit cards.