Can You Buy Bitcoin With a Credit Card? Heck Yeah You Can!
Yes, you can buy Bitcoin with a credit card. There are a few different exchanges that will allow you to do this, and the process is relatively simple. You will need to create an account on the exchange, and then deposit funds into it using your credit card. Once the funds are in your account, you will be able to buy Bitcoin up to certain regulated limits with a Credit Card. The best part, is that you even get rewards points on the Coins that you buy, you get money back for buying money! In this blog post, I’ll talk about the most likely stupid financial decision of buying Bitcoin with a credit card.
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What Are Bitcoin Credit Card Exchanges?
Bitcoin credit card exchanges are platforms that accept credit cards as a payment method to buy Bitcoin. The process is simple: you deposit fiat currency (USD, EUR, GBP etc) into your account on the exchange, and then use this balance to buy Bitcoin. Some exchanges will even offer you points themselves, on something of a rewards points or a couponing system, each time you purchase with them.
How Hard Is It To Purchase Bitcoin With a Credit Card?
While the process of buying Bitcoin with a credit card is simple, there are a few things to keep in mind. First, most exchanges will charge you a higher fee for buying Bitcoin with a credit card than they would for other methods like bank transfer or e-wallet. This is because credit card processors charge fees for each transaction, and these Bitcoin exchanges and Credit Card exchanges are typically making a fortune off of these transactions, to the point where they would be happy to sell more Bitcoin at a higher price.
Buying Bitcoin With a Credit Card Vs a Debit Card
Second, when you purchase Bitcoin with a credit card, the process is not instantaneous. The exchange will first need to verify your identity and confirm that your credit card is legitimate before they can process your transaction. This can take a few hours, or even a day or two in some cases.
Third, there is always the ability to also buy Bitcoin with a debit card. However, there are a few things to keep in mind with this option. First, most exchanges that allow you to buy Bitcoin with a debit card will also charge you a higher fee than if you were to use a credit card. Second, your debit card may not be accepted by the exchange. And third, even if your debit card is accepted, you need to have the funds available in your account.
Final Thoughts On Can You Buy Bitcoin With a Credit Card?
Personally, I would recommend Coinbase and Kraken for this, although Coinbase, being a newly minted publicly traded company, will likely charge you the best fees. Hope you enjoyed, more articles to come!
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