Technology

How to Buy Bitcoin with a Credit Card?

Bitcoin with a Credit Card

Just like you buy items online, using your credit card, you can buy Bitcoins the same way. You can then use the purchased Bitcoins to shop online or buy anything you want just like you use your standard cash. 

In this article, we will show you how to buy Bitcoins with your credit card and you can get started easily. We will also talk about the most popular and secure platforms you can use to do so.

Websites to use to Buy Bitcoin with a Credit Card

You must keep in mind that not all banks providing credit cards allow buying Bitcoins. You must contact your bank to ask whether they do so. Also, you must ask if there are any restrictive measures like transaction limits you need to be aware of, before initiating the transaction.

So, here is the list of Bitcoin exchange platforms you can use to buy Bitcoin using your credit card.

  1. Paxful

Paxful not only offers you Bitcoin but also popular cryptocurrencies like Ethereum and Tether. As soon as you visit their website, you will be asked to fill up the type of currency you want to buy and the payment method you wish to choose. Follow the steps given below to successfully buy Bitcoins with your credit card.

  1. Visit the website and create your account if you don’t already have one.
  2. Paxful will provide you with a free bit wallet.
  3. Click on ‘Buy Bitcoin’ on the top left side of the website’s homepage.
  4. This will lead you to a page asking your payment choice to buy Bitcoins.
  5. Enter the currency you want to perform the transaction in.
  6. Click on ‘Search for Offers’ and scroll down to the list.
  7. This list includes all the names of the vendors with their payment modes mentioned below it.
  8. The numbers that you see on the right hand side are the rates at which the vendor is willing to sell his or her Bitcoins.
  9. Selecting a vendor is the most important part of buying cryptocurrency. Since cryptocurrency transactions are not reversible, you must do a background check on the vendor. Follow these steps to select a good vendor for yourself.
  • Please compare the actual rate of Bitcoin and the rate at which the vendor is trying to sell it at.
  • Read through the terms and conditions the vendor sells by so that you are aware of the consequences. Remember that in the world of Bitcoin, there are only two kinds of people that exist. One is the buyer and the other is the vendor. All the terms and conditions are formed and can be altered later by the vendor. You must read them carefully.
  • Check the vendor’s reputation. Paxful, just like Uber, rates every Paxful account holder on the basis of his or her activities on the website. So, check the ratings to make the best decision.
  • Check their trading history.
  1. After narrowing down the desired vendor, enter how much Bitcoin (BTC) you wish to buy and click ‘Buy Now’

2. Coinmama

Coinmama is another platform where you can buy Bitcoins using your debit or credit card. The only difference is that it doesn’t provide a free Bitcoin wallet like Paxful. Hence, you need to create one and enter the wallet address, on the website, on which your purchased Bitcoins will be transferred. Here are the steps you need to follow to buy Bitcoins.

  1. Head to the website.
  2. Click on ‘Create an Account’ or log in if you already have an account.
  3. Enter your email address and set up your password.
  4. The verification process starts and you need to upload your passport, national ID and other authentication documents.
  5. Once the verification process is all complete. Log out and log in again. Enter the desired wallet address and type in the money you wish to spend. Eventually, buy Bitcoin.

3. Binance

Binance is an Indian-based cryptocurrency trading platform. You can buy and sell not only Bitcoin (BTC) but also Ethereum (ETC), Dogecoin (Doge) and Litecoin (LTC), amongst the many. Follow these steps to know exactly how to buy Bitcoin using a credit card.

  1. There are three steps to successfully buy crypto. The first one being registration. You need to create an account. 
  2. Verify your identity by submitting the required documents and giving personal details.
  3. Confirm your submissions and open your Bitcoin wallet by entering the wallet address. 
  4. Go to ‘Funds’ and click on ‘Buy with Credit Card’.
  5. Enter the amount of Bitcoin (BTC) and select ‘Buy Now’.
  6. Check out the list of vendors.
  7. Read the terms and conditions of the vendor whose rates match your spending limit. Agree to the terms and conditions.
  8. Click on ‘Go to Payment’ and select the credit card option.
  9. Once the transaction is successful, your Bitcoins will land in your mentioned Bitcoin wallet.

There are websites like Crypto, Coingate and Bitfinex that allow you to buy Bitcoin with credit and debit cards. The only issue while buying Bitcoin is selecting vendors. You must be aware of the current rate of Bitcoin (BTC) and must always compare it with that of the vendor’s. Check what kind of payment method the vendor uses to make sure you are aware of the whole transaction process. In India, using credit cards and debit cards to buy Bitcoin has not been allowed yet. There are companies that are still trying to change that. We hope this article has given you accurate ways to start buying Bitcoins using credit cards. Do your research before you select a vendor and then you are good to go. Happy trading!

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