by: ofir beigel | last update: 7/21/22
Buying bitcoins with a debit card has become relatively easy in recent years with the introduction of anti-fraud systems for bitcoin exchanges. however, these systems are quite expensive to operate, and therefore exchanges will generally charge a premium for buying bitcoins with a debit card.
Reading: How to buy bitcoin with a debit card
post summary
The fastest way to buy bitcoin with a debit card would be through cex.io. here are the steps:
- visit coinmama
- decide the deposit amount
- complete the identity verification process
- enter your bitcoin address
- complete the payment with your debit card
If you’re looking for additional options, here’s a full list of exchanges that allow bitcoin purchases with a debit card.
If you want a summary review of each exchange with its pros and cons, read on. this is what i will cover:
- where can I buy bitcoins with a debit card?
- coinmama
- bitstamp
- cex.io
- coinbase
- bitpanda
- etoro
- coingate
- conclusion: is it safe to buy bitcoins with a debit card?
- visit coinmama and choose the amount of bitcoins you want to buy
- register on the site and verify your identity
- get a bitcoin wallet and address (coinmama does not have bitcoin for you)
- provide coinmama with your bitcoin address
- full debit card information
- coins will be sent instantly
- go to the bitstamp deposit page and select “purchase with card” from the side menu
- choose which cryptocurrency you want to buy
- choose a currency to pay
- enter the amount of cryptocurrencies you wish to buy
- enter your card details
- confirm the purchase
- visit cex.io and sign up
- go to “finance” -> “deposit” (make sure to select your own currency)
- use your debit card to fund your account
- if you want to use the simple but expensive brokerage service, go to ” buy/sell”
- if you want to use the complex but cheap service, go to “exchange” and choose btc/usd (or any other currency)
- create a coinbase account
- go to “settings” – “payment methods” and click “add payment method”
- add your credit card debit
- confirm your debit card
- go to “buy/sell” and select the amount of bitcoins you want to buy
- visit bitpanda and sign up
- verify your identity
- choose a cryptocurrency (eg bitcoin) and click “buy”
- choose “visa/mastercard” payment method
- enter the amount you wish to purchase
- click “next step”
- confirm your order
- visit coingate
- enter the amount of btc you want to buy + your btc address
- enter your card details
- verify your identity
- send payment
1. where can i buy bitcoins with a debit card?
Using your debit card to buy bitcoins hasn’t always been as easy as it seems. Some exchanges fear fraud and therefore do not accept debit cards. however, many exchanges have started to implement fraud detection services and are now more open to credit and debit card purchases.
As a general rule, an exchange that accepts credit cards will also accept a debit card. If you’re unsure about a specific exchange, you can simply google its name + “payment methods” and you’ll usually find a review covering which payment method this exchange accepts.
2. coin mom
pros: good support, quick response, respectable company
cons: limited states allowed in the us. uu.
coinmama provides an easy way to buy bitcoins with a debit card while charging a premium. the company has been around since 2013 and offers a wide variety of cryptocurrencies in addition to bitcoin. Recently, the company has substantially improved its customer support and has one of the fastest delivery times for bitcoin purchases in the industry.
buy bitcoins with debit card through coinmama
3. bitmark
pros: one of the oldest and most reputable exchanges, good support
cons: not very user friendly, verification process can take a while
bitstamp is a fully licensed bitcoin exchange that has been around since 2011. the website primarily provides trading services, however they also have a brokerage option to buy bitcoins directly with your debit card.
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To complete your order you must use 3d security. Some banks may treat your credit card deposit as a cash advance. If that’s the case, your bank or debit card provider may charge additional fees. The exchange is primarily open to the US, EU, and Asia, with a total of around 80 countries currently supported.
buy bitcoins with a debit card through bitstamp
4. cex.io
pros: trustworthy company, high purchase limits
cons: sometimes slow support, relatively high exchange rate
cex.io provides trading and brokerage services (ie buys bitcoins for you). If you are just starting out, you may want to use the brokerage service and pay a higher fee. however, if you know the exchanges, you can always deposit money through your debit card and then buy bitcoins on the company’s trading platform with a much lower fee.
buy bitcoins with debit card through cex.io
5. currency base
pros: easy to use interface, relatively low fees, established reputation
cons: support is slow to respond
coinbase is a well-known bitcoin broker that gives you the option to buy bitcoins with a debit or credit card on their exchange.
coinbase no longer has a clear fee structure for debit card purchases, but you can double-check what you’re charged during the final steps of a conversion. Please note that you will need to upload a government issued ID to prove your identity before you can purchase the coins.
buy bitcoins with debit card through coinbase
6. bitpanda
pros: low fees, intuitive interface, multiple payment options
cons: more suitable for eu clients
bitpanda was founded in october 2014 and allows residents of the eu (and some other countries) to buy bitcoin, other cryptocurrencies, stocks and precious metals through a variety of payment methods (neteller, skrill, sepa , etc.) . the daily limit for verified accounts is €2,500 (€300,000 per month) for credit card purchases. for other payment options, the daily limit is €10,000 (€300,000 per month).
buy bitcoins with debit card through bitpanda
7. etoro
pros: suitable for beginners, great support
cons: limited countries available, long process to withdraw your coins
If you like bitcoins (or any other cryptocurrency) just for price speculation, then the easiest and cheapest option to buy bitcoins may be through etoro. etoro provides a variety of crypto services, such as a trading platform, a mobile cryptocurrency wallet, an exchange, and cfd products.
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When you buy bitcoins through etoro, you will need to wait and go through several steps to withdraw them to your own wallet. therefore, if you are looking to hold bitcoins in your wallet for payment or just long-term investment, this method may not be right for you.
important!
etoro disclaimer: this announcement promotes investment in virtual cryptocurrencies in the eu (by etoro europe ltd.), the united kingdom (etoro uk ltd.) & USA. (for etoro usa llc); which is highly volatile, unregulated in some eu and uk countries, no eu or uk consumer protections & not supervised by the regulatory framework of the eu or the united kingdom. etoro usa llc; investments are subject to market risk, including loss of principal.
78% of retail investor accounts lose money when trading cfds with this provider. You should consider whether you can afford to take the high risk of losing your money.
cfds are not available to us, the clients.
Crypto assets are highly volatile, unregulated investment products. no eu investor protection.
8. coin
pros: friendly user interface and non-custodial
cons: intensive kyc, relatively high fees
coingate is a Lithuanian-based cryptocurrency exchange and payment processor, allowing users to purchase bitcoin and other cryptocurrencies with their debit card or other payment options.
coingate offers a non-custodial service, which means that when making a purchase, users will receive the coins directly in their wallet. card purchases incur a 5% fee, which is added to the standard 3% “merchant fee”. Most crypto purchases on coingate are made through simplex or paybis, two well-known crypto payment processors.
buy bitcoins with debit card through coingate
9. conclusion: is it safe to buy bitcoins with a debit card?
As long as you use a trusted exchange, using your debit card to buy bitcoins is perfectly safe. The main thing I would recommend is not to keep the bitcoins on the exchange after you buy them, but to move them to your own bitcoin wallet.
Keep in mind that using your debit card can be convenient, but it’s also more expensive. If you are buying a relatively large number of coins and have the option, I would suggest that you always use a bank transfer. however, if the amount is not that large, sometimes paying the extra 3%-5% is worth the time saved.
If you have any questions or comments about the process, feel free to leave them in the comments section below.
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