Why More Crypto Fanatics are Buying Bitcoin with Debit Card
Before the concept of cryptocurrency really took off it was extremely difficult to buy Bitcoin with debit card or credit card. Fortunately this problem was solved with the creation of advanced crypto trading and buying platforms.
The most popular ones in 2019 are Coinbase and CoinMama but more are being introduced to the online world every day. With these new companies comes more purchasing options for Bitcoin, Litecoin, Ethereum, Dash, and every cryptocurrency you can think of. There are tons of perks to investing in Bitcoin with debit card; here’s what they are.
Purchasing Bitcoin with debit is quick and easy
There is no simpler way of purchasing your bitcoins than to use a credit or debit card. It will feel just like any other online transaction you would make using your card. You can expect your transaction to be completed as soon as verification is complete (an average of about 10 minutes). It should never take longer than 30 minutes for the transaction to be processed if you choose a reputable exchange and purchasing service.
There are low transaction fees
Coinbase charges 3.99% for Bitcoin purchases using credit and debit cards within the US, the UK, Canada, Europe, and Australia. A lot of crypto users assume that Coinbase would have the lowest fees since it is the most popular exchange company.
This is actually not the case; you can find crypto exchange platforms that charge less than the 3.99 Coinbase fee. CoinFlip is one of the better options that provides complete security and it only charges 2.99% per transaction.
Account creation and verification is easier than you would think
Pretty much all Bitcoin exchange platforms require you to make an account and wait for that account to be verified. This might make you want to sigh heavily in frustration, but believe it or not account creation and verification is quite simple.
Usually the steps involve adding your basic account information, uploading your credit card number, and verifying ID. Once this is completed you can start buying Bitcoin with your card or exchanging what you already have. Some platforms don’t even require you to make an account, but you should be weary of these because security should be a top concern.
Purchasing Bitcoin with card allows you to have higher limits
This is not always the case but oftentimes when you opt to pay for your cryptocash with credit or debit you’ll receive a higher spending limit. Since there is just a verification process involved with confirming your card’s validity there is a high cap on the amount you can spend. Paying with card will often give you a higher spending limit than bank wires and transfers.
You don’t have to worry about security
Now that the world of crypto is well established and has had time to evolve you have nothing to worry about in terms of your personal and financial security. The platform you use to purchase your bitcoins will take all of the necessary steps to ensuring your information’s safety.