It is much easier now to buy Bitcoin or Ethereum with your credit/credit card. However, it is important to know where and how you can buy. The aim of this post is to give you step by step guidance for buying these cryptocurrencies form CEX.io, Coinmama.com, and Coinbase. Buying Bitcoins/Ether with credit/debit cards is not very popular because of the chargeback issues. Most sellers would prefer to avoid this payment. That is why many exchanges do not want to provide this service. Further, many exchanges do not have the technology to support the same.
One word of caution before you use any of the methods explained in this post to buy cryptocurrencies: Never store your Bitcoins/Ethereum on any exchange. Move them to a suitable wallet immediately. This is to say that you should have already created your wallet account prior to buying any of these cryptocurrencies.
Buy Bitcoin using Credit Card Instantly No Verification
This cryptocurrency exchange was established in 2013 as the first provider of cloud mining. Over the years, CEX.IO has turned out to be a multi-functional digital currency exchange with over 2,244,000 users. This exchange is available in the U.S., Europe, and a few countries in South America.
After opening the account and signing in, sync your credit/debit card with the CEX.IO system by providing the required information.
After providing information about your card, click on “Wallet” in the menu at the top and then click on “Deposit”.
Select the deposit type, the card you would want to use, and type in the amount to be transferred in dollars to the exchange.
Click on the deposit button. After the money is transferred to your account in CEX.IO, you can start buying Bitcoin/Ethereum. For this, click on “Buy/Sell” button in the menu at the top. You can buy Bitcoin/Ethereum at a pre-fixed price with just one click. Alternatively, you may click on the “Trade” button in the menu at the top and place an order to get a better deal. After buying the cryptocurrency, transfer it to your wallet.
Coinmama.com (Needed ID Verification)
CoinMama specializes in enabling you to buy Bitcoin/Ethereum through a credit/debit card. They charge a high fee for the services they provide but the exchange does not put any limit on the number of Bitcoins you can buy. The exchange allows you to buy Bitcoin/Ethereum worth $150 without verification. If your account is verified, you can buy these cryptocurrencies worth up to $5,000 per day and as much as $20,000 per month. For account verification, you would be required to provide id documents.
#1: Register on Coinmama exchange.
On Coinmama’s homepage, you need to choose as to how many Bitcoins you want to buy and either in Bitcoin (BTC) or in USD. Further, you can opt to buy one of the offered packages or buy for any desired amount.
It is recommended that you use Visa or Mastercard through Simplex. For buying without verification, you may use the “MoneyGram” payment method after transferring the amount to MoneyGram account from your credit card. This option is available only to US residents.
Now, the next step is entering your Bitcoin address because CoinMama does not store your Bitcoins in their wallet.
The last step is entering your payment details and placing the order.
Coinbase, the largest cryptocurrency exchange in the world, allows you to buy Bitcoins worth up to $150 per week credit/debit card. The exchange is available in 33 countries around the world. When you buy Bitcoins worth more than $100, you will receive a bonus of Bitcoins worth $10.
To buy Bitcoin/Ethereum on Coinbase follow these steps:
#2: After creating your account, go to “Settings”. Choose “Payment methods” click on “Add Payment method”.
#3: Choose “Credit/Debit Card”
#4: Enter your card details.
#5: Once your card is confirmed, click on “Buy/Sell” and buy Bitcoins/Ethereum.
#6: Bitcoin/Ethereum will be transferred to your Coinbase wallet once you make the payment through your credit/debit card.
There is no charge for debit card purchases. However, credit card purchases are charged. The processing fee is 3.75 percent. For connecting your card, you need to verify your identity by uploading an id issued by the government.