Over the years it has become easier to purchase Bitcoins by using just your credit card. The problem is knowing where to buy.
The reason why this method of purchasing is not available on every exchange is because most bitcoin sellers try to avoid having to deal with chargeback issues. That is why many exchanges need to take precautionary measures in order for them to provide this service, and so not all of them have the technology to do so.
A few steps before you start buying Bitcoins
Have a secure wallet
Cryptocurrency wallets are software programs that store your public and private keys and interact with various blockchains, so users can monitor and conduct transactions with their digital assets.
There are several types of wallets which provide different ways of storing your bitcoins. There are software wallets for desktop, mobile and websites. Out of all three, the most secure is the desktop wallet, but it is not invulnerable to hacks or viruses.
Hardware wallets store Bitcoins on a hardware device like a USB. It is considered the most secure way to store cryptocurrency and it’s practically immune to any online threats.
Never leave your bitcoins at the exchange
A thing you must always keep in mind, never leave your acquired Bitcoin in the exchange’s or website’s wallet. You don’t actually have control over the private keys for your coins so this means that technically the Bitcoins are not yours. Apart from that, there are also security issues.
After your purchase, transfer them immediately to your Bitcoin wallet.
Coinbase is a popular Bitcoin broker. It enables users to purchase up to $150 per week worth of Bitcoins via credit or debit card. Coinbase charges a fee of 3.75% of all credit card transactions and is available in 33 countries from across the world. If you buy more than $100 worth of Bitcoin you will get an additional $10 Bitcoin bonus. Debit card purchases are free of charge but credit card purchases will have an additional 3.75% processing fee.
How do you buy bitcoins on Coinbase?
- Create a Coinbase account
- Select “Payment methods”
- Click “add payment method”
- Click “credit/debit card”
- Enter your card’s info
- After confirmation, start buying Bitcoins
CoinMama allows Bitcoin purchases through credit card. They take premium fees for their services but they do not have a maximum buying limit for Bitcoins. Unverified account can buy up to $150 worth of Bitcoin, while verified accounts can buy up to $5000 daily.
From the company’s homepage you choose the number of Bitcoins you’d like to sell/buy.
Click the “buy Bitcoins” button and you will be redirected to the sign up page. After you will mention some initial information, you will need to go through some additional verification (photo of ID document).
Once verified, you can start purchasing Bitcoins with your credit card. Then you will need to provide your personal bitcoin address, enter payment details and place your order.
CEX.io is a reputable company that first established itself as a cloud mining provider in 2013 and it has since become a multi-functional cryptocurrency exchange. It works in US, Europe and some countries in South America.
After you’ve opened your account, click on “wallet” and “Fund” which can be found next to the requested currency. Then you can choose if you want to buy your Bitcoins via wire transfer or credit card.
Also called the “House of Bitcoin” in Paris, Coinhouse is a reputable company that lets you buy Bitcoins via credit card. You can do that by buying them directly online by Visa/MasterCard or cash by using the Neosurft prepaid card which can be found in most European countries.
After your account confirmation, you will be able to buy up to 2,000-euros worth of Bitcoin in a day, with a maximum of 10,000,000 euros per month.
Other guides will come soon. Stay tuned.