Bitcoin, dubbed as the original cryptocurrency, is rising in popularity and for a very good reason. Bitcoin has massive potential because no other cryptocurrency has surpassed Bitcoin’s hash power or total market value. This digital gold in the Bitcoin era capitalizes on the power of scarcity and encourages open commerce because Bitcoin’s value is considered uncensorable.
Step-by-Step Guide: Buying Bitcoin with Debit Card on Top Bitcoin Exchanges
Investing in Bitcoin has its risks. It’s a volatile asset but with the big financial sectors paying full attention on Bitcoin now, there is no reason why you shouldn’t. Here’s a quick newbie guide on how you can buy bitcoin using debit card on the following major Bitcoin exchanges:
Coinbase
This is the biggest and most popular Bitcoin exchange to date which is available in the following countries: United States, Europe, Canada, Australia, and United Kingdom. Founded in 2012, this reputable Bitcoin broker has made it easy for anyone to buy and sell cryptocurrency.
All you have to do open an account and then connect your debit card. You would need a picture of your ID for verification purposes. It’s a fairly quick verification system and you can get started within the day. After you’re verified, you can start buying Bitcoin or other cryptocurrencies. For users in the United States, the credit card purchase option is currently unavailable. You can only use debit cards for your purchases.
The good news is that the fees are one of the lowest compared to other bitcoin exchanges. The daily purchase limits would depend on your account verification level. There are no deposit fees for moving currencies into the exchange. You will only have to pay fees when your buy or sell cryptocurrency in the platform.
This is a great platform for newbies and experts alike because it has a very responsive and easy-to-navigate interface so basically anyone can sign up and get started really fast. There is also an “Instant Buy” option available for debit cards users.
Coinmama
This Bitcoin broker based in Israel offers users different packages to choose from depending on purchase requirements. It has higher fees for debit cards at 5% as compared to Coinbase but you get your Bitcoins relatively fast or instantly. It’s only available in some US states for now and in almost all countries. It has a very efficient and friendly customer service which is a plus point and has high limits of up to $5,000 worth of Bitcoin daily and up to $20,000 worth of Bitcoin monthly.
Bitpanda
This is an Austria-based bitcoin exchange wherein you can buy Bitcoins with credit card or debit card for as low as 3% to 4% fees. It’s one of the trusted brokers online with the lowest fees. However, Bitpanda is exclusive to Europe for now. The edge of this cryptocurrency exchange is that it provides clients flexibility in payment methods and with competitive rates.
Aside from using your debit card, you can also buy cryptocurrency with SEPA transfers, Sofort Transfers, Skrill, OBT, Neteller, Giropay, and EPS. You would need an ID for signing up and verification on the platform. They only charge minimally or as low as 2.99% on fees for purchases and 1.29% for selling.
A lot of banks and financial institutions are adopting Bitcoin. Its market value is at an all-time high. Now is undoubtedly the right time to buy bitcoin. You can buy bitcoin with the use of a debit card in different bitcoin exchanges and using a secure bitcoin wallet for storage.
