With the introduction of anti-fraud systems for Bitcoin exchanges, buying Bitcoin with a debit card is now much easier. These systems can be quite costly to run so exchanges may charge extra for Bitcoin purchases made with a debit card.
Where can I buy Bitcoins using a debit card?
It’s not as simple as it sounds to use your debit card for Bitcoin purchases. Some exchanges don’t accept debit card payments because they are afraid of fraud. Many exchanges now offer fraud detection services and are more open for debit and credit card purchases.
An exchange that accepts credit cards should also accept debit cards. This is a general rule of thumb. You can search for a particular exchange by simply entering its name + “payment options” to find a review that covers the payment method it accepts. View guide. completely explained of how you can purchase Cruptocurrency with Debit Card Instantly.
Cex.io provides brokerage and trading services (i.e. You can buy Bitcoins. You may prefer to use the brokerage service, but you will pay a higher fee if you are just starting out. If you are an expert on exchanges, you can deposit money using your debit card to buy Bitcoin through the company’s trading platform for a lower fee.
eToro is the best and cheapest way to buy Bitcoins (or any cryptocurrency) if you are just interested in price speculation. eToro offers a range of crypto services, including a trading platform and a cryptocurrency mobile wallet. It also provides CFD and exchange services.
You will need to wait for your Bitcoins to be withdrawn to your wallet. This method is not recommended if you are looking to hold Bitcoins in your wallet as a payment option or long-term investment.
Coinmama allows you to purchase Bitcoins using a debit card without having to pay a premium. Since 2013, the company supplies many cryptocurrencies, including Bitcoin. The company has seen a significant improvement in customer service and one of the fastest turnaround times for purchasing Bitcoins.
Coinbase, a well-known Bitcoin broker, allows you to purchase Bitcoins using a debit or creditcard on their exchange.
A 3.99% fee will be charged for purchasing coins using your debit card. To be able to purchase the coins, you will need to upload your government-issued id.
Bitpanda was established in October 2014. It allows EU residents (and a few other countries) to purchase Bitcoins and other cryptocurrency using a variety payment methods (Neteller Skrill SEPA, Skrill etc.). For credit card purchases, the daily limit for verified accounts (EUR300,000.00 monthly) is EUR2,500. Other payment options have a daily limit of EUR10,000 (EUR300,000.00 monthly).
Bitstamp, a licensed Bitcoin exchange, has been in existence since 2011. Although the website primarily offers trading services, they also offer a brokerage option that allows you to directly sell Bitcoins when you buy with your debit card.
3D Secure is required to complete your order. Some banks might consider your credit card deposit as cash advance. Your bank or debit card provider might charge additional fees if this is the case. The exchange is available to all citizens of the US, EU and a growing number of Asians.
Conclusion: Is it Safe to Buy Bitcoins With a Debit Card?
You can use your debit card to purchase Bitcoins as long as the exchange is trusted. My main recommendation is to not keep your Bitcoins on an exchange once you have purchased them. Instead, move them to your Bitcoin wallet.
While using your debit card is convenient, it can also be more costly. I recommend using bank transfers if you are buying large amounts of coins. Even if the amount you are buying is not large, sometimes the extra 3% to 5% can be worth it.
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