4 Best Ways To Buy Bitcoin With a Debit Card
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Valued at over $18,000 at the moment, Bitcoin is undoubtedly the biggest cryptocurrency in the world. Seeing its humble beginnings in 2009, Bitcoin and Cryptocurrency have gone on to change the market landscape in the past decade.
As investors look for ways to get in on the Bitcoin revolution, it’s important to identify ways to invest that are safe, convenient, and don’t cost you much. As such, debit cards and credit cards have emerged as prominent modes of investment in Bitcoin.
If you’re looking to know how you can invest in Bitcoin safely through debit cards, this post is for you. Read on to know more.
4 Best Ways to buy Bitcoin with a Debit Card
Bitcoin enjoys market dominance of over 39%, establishing itself as the most valuable cryptocurrency. People are looking to invest in it for myriad reasons. The most prominent is that it is a secure long-term store of value.
With it being decentralized, having limited supply, and being capped by mathematical equations, governments cannot value by intervening. This has attracted many businesses to it over and above individual investors.
As many crypto experts have pointed out, debit cards and credit cards are some of the safest options to invest in Bitcoin as you don’t have to pre-fund your account to be able to conduct a transaction. It’s quick, secure, and easy to do.
Given below are the best ways to buy Bitcoin with a debit card that’ll make your crypto investing much easier. Let’s dive in.
1. MoonPay
MoonPay is a cryptocurrency trading platform that strives to simplify buying and selling of crypto for the average user. It understands that not everyone is well-versed with cryptocurrency terminology and thus uses easy-to-understand terms and simplified UI.
To buy Bitcoin with a debit card on MoonPay, all you need is a debit card that supports ‘3D secure’ and a Bitcoin wallet. Enquire with your bank to know if your card supports 3D security and get the option if you don’t have it already.
As for Bitcoin wallets, you have two options: offline wallets or online wallets. Use Ledger or any other offline wallet for cold storage offline wallets. Use Trust Wallet or Changelly for online wallets that support Bitcoin.
a) How to buy
Follow the given easy steps to buy Bitcoin via MoonPay:
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Enter the amount of BTC that you wish to purchase. You also have the option to enter the amount in fiat currency.
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Put in your Bitcoin wallet address. It might be an online or offline Bitcoin wallet.
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Verify some basic information about you asked by the platform, such as your email address.
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Put in a payment option such as a debit card for a credit card.
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Go through with the purchase and there you go; you bought the Bitcoin.
The minimum amount of Bitcoin that you’re allowed to purchase with MoonPay is $30. The maximum amount depends on your KYC levels and account limit.
b) Features to look out for
The biggest USP of MoonPay is its ultra-convenient user interface. It is very easy for a complete novice trader to buy Bitcoin with MoonPay without any external help. Should they need it, there are guides and FAQs available as well.
Moreover, MoonPay enjoys a global reach as it is available in 150 countries. Traders can purchase crypto in their local currency with ease. It also follows top-notch security measures to make sure no malpractices occur on the platform.
While you might buy Bitcoin with your debit card on MoonPay, the platform also supports other payment options in case you need to resort to them. These options include bank transfers and payment wallets such as Google Pay and Apple Pay.
2. Crypto.com
Crypto.com essentially creates a Visa Card for your crypto spending on a global level. So, you shall not only buy Bitcoin instantly with a debit or credit card, but you also have the option to spend it at ATM and Visa merchant stores.
The card that you’ll receive will come with various levels of spending available. It’ll give you CRO staking amounts as well as rewards. For example, staking $400,000 worth of CRO might earn you up to 14.5% CRO rewards.
The platform also enables you to take crypto loans. The loan amount you’re eligible for will be up to 50% of your held crypto. We suggest that you enquire with the platform regarding other requirements and procedures if you’re considering taking a loan.
a) How to buy
Follow the given easy steps to buy Bitcoin via Crypto.com:
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Sign up for the platform.
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Click on ‘trade’, then ‘buy’, and put in ‘Bitcoin’ as the cryptocurrency you intend to buy.
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Select ‘debit card’ as the payment option and fill in your debit card details.
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You’ll need to verify your card with a small deposit of $0.10 or whatever is the local currency. This amount will be held up for 7 days.
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Return to the previous page of the transaction and click on ‘buy’.
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Enter the amount you wish to purchase and make payment through the debit card that has already been verified.
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Finally, confirm the payment.
b) Features to look out for
Crypto.com offers over-the-counter trading that is completely legal and secure. It is accessible through a variety of platforms including web and mobile. Web applications shall be accessed through computers and browsers. Mobile applications are available on both iOS and Android.
The platform is NFT-supported as well, meaning you’ll be able to trade in NFT along with Bitcoin. You might even pair them up in your portfolio for increased value. Crypto.com offers portfolio tracking and management in itself to help you invest better.
3. Binance
Binance is one of the largest Cryptocurrency trading platforms in terms of the volume of the cryptocurrencies traded daily. It is a US-regulated platform and covers many crypto and currencies other than just Bitcoin.
It directly deposits the Bitcoin you purchase in your Binance wallet. From there, you’ll be able to manage your cryptos with ease. Binance will also provide you with guides and tutorials to do the same.
a) How to buy
Follow the given easy steps to buy Bitcoin through Binance’s platform:
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Log in to your account.
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Choose ‘buy crypto’ and ‘credit/debit card’.
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Select your local currency.
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Enter the amount you wish to spend on purchasing crypto in the transaction.
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Select BTC as the crypto you’re purchasing.
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Click on ‘buy’.
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Fill in the debit card information and click on ‘next’ and then ‘pay now’.
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Confirm once again on the ‘confirm order’ prompt that comes up. This is to ensure double protection.
The Bitcoin will be directly deposited in your account once the transaction is successful.
b) Features to look out for
Binance is known for its secure crypto trading experience, making it a favored option among novice traders. This is because it makes sure to always work with verified partners and platforms.
It also supports a truly large and varied range of cryptos. You’re sure to find even the smaller and obscure cryptos on the platform. This adds to Binance’s utility. Moreover, it also offers diverse options for payment options other than debit cards.
4. Bitstamp
Bitstamp is a cryptocurrency exchange platform that supports over 50 most popular and widely used cryptos. You’ll be able to make instant purchases on the platform. The platform was established in 2011.
In the platform’s own words, it aims to make buying and selling crypto easy, fast, and reliable. It achieves it by providing 14-hour support, security, and a learner center. The aim is to assist you every step of the way and provide tips to perform better in the market.
a) How to buy
Buying Bitcoin through Bitstamp is quite easy. Here’s how you can do it:
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Sign up on the platform.
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Get verified.
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Go to the deposit page and choose a debit card as the payment option.
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Enter the amount you wish to spend.
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Enter your card details and submit the transaction.
Wait for the confirmation, upon which your transaction will be processed.
b) Features to look out for
Bitstamp puts the minimum spending limit as low as $25, allowing small traders to operate with ease. Moreover, it has its own Bitcoin wallet. You’ll not have to link any outside online or offline wallet to it.
The platform advertises the use of its mobile app as an option to trade on the go. This is a great sign for younger, more tech-savvy traders. It also provides premium access and non-stop availability for traders wanting to go the extra mile.
Is it safe to buy Bitcoin with a debit card?
Cryptocurrency, and Bitcoin in specific, is taking over the world with its secure and decentralized store of value. An increasing number of traders as well as businesses are investing in Bitcoin to get in on the crypto revolution.
While there are many ways to invest in Bitcoin, the most secure and easy is the traditional method of using one’s debit card. It doesn’t require you to fund your account in advance and is available on most platforms that offer crypto trading.
Disclaimer: Ensure you do your research so you are aware of the risks involved in buying Bitcoin with your debit card as all types of investments have a certain risk factor, which should be considered.
Author bio
Atreyee Chowdhury is a freelance content writer with more than 10+ years of professional experience. She is passionate about helping SMBs and enterprises achieve their content marketing goals with her carefully crafted and compelling content. She loves to read, travel, and experiment with different cuisines in her free time. You can follow her on LinkedIn.