
Bitcoin and cryptocurrencies have gained popularity in recent years, which is not surprising. People always like to gamble with the hope of getting rich in the process. But unlike scratch tickets and casino games, Bitcoin can really make you rich if you’re smart and know when to sell.
Since its price has gone down in the last couple of months, you might want to jump on the train in case it raises again. But you probably don’t know how or where to buy bitcoins. Don’t worry. That’s why we are here to talk about buying Bitcoins with a credit or debit card.
Actually, it’s nothing complicated, sophisticated or time-consuming. You’ve probably shopped online a thousand times from sites like Amazon and eBay. So, buying Bitcoins is not that different from ordering books, games, groceries online. Once you get the knack out of it, you’re ready to go.
What do you need to buy Bitcoins with a credit card?
Before we get to the step-by-step instructions, there are a couple of things you need before we can start:
There are many exchanges where you can buy Bitcoins, but today we are going to talk about three of them – Coinbase, Coinmama, and Changelly.
How to buy bitcoins with a credit/debit card from Coinbase?
Coinbase is the most popular cryptocurrency exchange platform and the largest Bitcoin broker. It’s available for over 30 countries around the world and depending on your location you’ll have available different payment methods. To check if your country is supported click here.
You can use Coinbase to buy Bitcoins, Ethereum, Litecoins and Bitcoin Cash, and thanks to its user-friendly interface it’s a piece of cake. You have two payment options – a bank transfer or a credit/debit card. If you choose bank transfer, your funds will be available in 5-7 days, while card purchases are available instantly.
You’ll also have to pay a fee of 3.99% for credit/debit card purchases, which is amongst the lowest ones in the cryptocurrency business. Your account will have some limitation on how many coins you can purchase depending on your level and how much verified information you have provided. If you have questions, you can contact Coinbase support by email.
# Step 1 Create an account
Here’s how to create an account on Coinbase:
- Go to https://www.coinbase.com/.
- You’ll see a box for your email address. Fill it in.
- Press “Get Started.”
- Fill in your name and password.
- Check the “User Agreement” and “I’m not a robot.”
- Click on “Create an account.”
- Wait for the confirmation email to arrive.
- Open the email and click on “Verify email address.”
- You’ll be asked to provide your phone number. Do it and press “Send code.”
- Enter the code you’ve received.
# Step 2 Complete your profile
Once you’ve made your account, you have to add a payment method to be able to purchase Bitcoins:
- First, you have to verify your identity. Upload your ID – passport, driver’s license, or photo ID. You can upload by webcam, mobile camera, and file upload.
- Follow the instructions to complete the verification process.
- Next, go back to the dashboard. You’ll see “Complete Your Account”. If you’ve done everything right, only the last one “Add a payment method” would be unchecked.
- Click on it, and you’ll see two payment methods.
# Step 3 Add credit card/debit card
Coinbase accepts only Visa and MasterCard, so keep it in mind when adding your information.
- Select “Add credit/debit card.”
- Enter your credit card information.
- Once you’ve done it, you should see a confirmation page.
# Step 4 Buy Bitcoins
Now when you have added your card information, you:
- Go back to the main dashboard.
- Click “Buy&Sell.”
- Enter how many bitcoins you want to purchase or how much dollars you want to spend. Remember that you have a limit on how much you can buy, depending on your level of verification.
- You can check “Repeat this buy” if you want to keep buying Bitcoins daily, weekly, every two weeks, or monthly.
- Click “Buy Instantly”, and you’re ready.
- Don’t forget to send the cryptocurrencies you buy to your wallet.
You can also use Coinbase wallet to keep your cryptocurrencies, but as I stated before, this is not a very good idea, because you’ll have to trust Coinbase to keep your money for you.
How to buy bitcoins with a credit card from Coinmama?
Coinmama is another cryptocurrency exchange platform with an excellent reputation, which is available for more than 200 countries in the world and 24 USA states. Check here the list of supported countries and states. For questions, you can contact customer support vie email or submit a ticket.
You can buy Bitcoins or Ethereum with a credit/debit card, and the great thing is that Coinmama doesn’t store your card information on their website, so you’re quite safe. Coinmama also has higher limits in comparison with other platforms. If you’ve verified your identity, you can buy $5000 worth of bitcoins daily or $20000 monthly.
Depending on how many documents you have provided, there is a limit on how much coins you can purchase on the platform. The highest level allows you to buy up to one million worth of cryptocurrency.
The bad thing is that Coinmama has a high transaction fee of 5.50% in addition to an extra 5% for every card transaction. You also might be charged by your credit card or bank. What’s more, unlike Coinbase, you can only buy two currencies, and you can’t sell them.
# Step 1 Create an account
To open an account with Coinmama, follow these steps:
- Go to https://www.coinmama.com/home.
- You’ll see a registration form.
- Fill it with your name and email.
- Choose a strong password.
- Select your country.
- Check the user agreement.
- Press “Register.”
- Wait for the confirmation email.
- Open your email and confirm your account.
- Then log in with your email address and password.
# Step 2 Complete your profile
Before you start buying bitcoins, you’ll have to verify your account. Until recently, you could buy $/€ 150worth of Bitcoin, without providing information, but that’s not the case anymore:
- Go to “My account.”
- Click on “Verify your account.”
- Fill in the required information and click “Next.”
- Get your ID and take a selfie holding it and a note “Coinmama” with the date.
- Upload to Coinmama.
- Wait for confirmation.
# Step 3 Buy Bitcoins
Once your identity has been confirmed, you can buy bitcoins:
- Go back to “My account.”
- Click on “Buy Bitcoin.”
- Choose the amount and credit/debit card as a payment method.
- Fill in your Bitcoin wallet address carefully.
- Double check that you’ve written it correctly.
- Press “Continue to Checkout.”
- Fill in your credit card information. Your address has to match the address provided to Coinmama.
- Press “Pay now.”
- Wait for your order to be processed.
How to buy Bitcoin with a credit card from Changelly?
Changelly is a cryptocurrency platform which allows you to exchange different cryptocurrencies and buy bitcoins with credit/debit card. It’s one of your best choices if you want to fast purchase without providing verifications, and it’s available for all countries.
There might be restrictions on the amount of money you can spend, depending on your location. For example, USA, Canada, and Australia have a $50 limit for the first purchase. If you buy again without four days, the limit is $100, and within seven days - $500. After that, you can trade as much as you want.
Changelly charges 0,5% for every transaction, which seems insignificant at first. However, when you buy bitcoins with fiat currencies, you’ll be charged additionally, and the cost might reach up to 40% as stated by some of its users. If you have any inquiries, you can contact Changelly vie email.
Using Changelly is straightforth:
- Go to https://changelly.com/
- Click on “Buy Bitcoins with a credit card.”
- Enter the amount you want.
- Provide your Bitcoin wallet address.
- Check “I’m not a robot.”
- Click “Continue.”
- Provide your credit card information.
- Follow the instructions to finish your order.
As you can see buying Bitcoins with a debit/credit card is easy as long as know who to trust. Always check the exchange platform and make sure that it’s a trusted one and not a scam. Also, invest in hardware bitcoin wallets if you plan on serious investments so that you can keep your money offline.
What do you think about these tips how to buy Bitcoin with credit/debit card? Have you used any of these exchanges? What’s your experience with them? Share with us in the comments.