For many individuals and businesses, cryptocurrency has now become a very popular investment option. With the value of Bitcoin soaring in recent years, many people have switched from mining to trading and buying Bitcoin directly with credit or debit cards.
Using a debit card, credit card, or prepaid card to purchase Bitcoin (BTC) is, nevertheless, tricky. Companies such as Coinbase and Binance, on the other hand, have made this procedure smooth and quick. You can now buy Bitcoin directly from your account at any international or domestic exchange using a credit card, debit card, or prepaid card.
How to buy Bitcoin using a debit card?
We’ve put together a step-by-step guide for buying Bitcoin with a debit card online.
1. Select a broker
You may buy Bitcoin from a variety of venues, including several crypto exchanges, but the safest and most dependable way to do so is through a broker, just like you would with regular equities. The broker will take care of the technical and administrative aspects of the transaction, as well as carrying out your requests.
2. Create an account
To open an account with a cryptocurrency broker, you’ll need to provide certain information, just as you would with a bank or traditional stockbroker. You’ll be able to keep track of your investments, manage your crypto funds, and file your taxes using your account.
3. Link your debit card to your account
If you want to buy Bitcoins with your debit card, you’ll need to link it to your account, which is simple. Most brokers now allow you to do this instead of using a standard bank account, which may be more convenient.
4. Consider getting a wallet
You may want to consider purchasing a ‘wallet,’ which can be hardware or software, to help you manage, transmit, and receive your Bitcoins or other cryptocurrencies safely. Software wallets include mobile applications, while hardware wallets resemble USB disks.
5. Purchase Bitcoin now!
With your debit card, you should now be able to trade Bitcoin and other cryptocurrencies. Simply place an order with your broker and wait for it to arrive.
Banks That Allow Purchasing Bitcoin
lockchain technology is already being employed in a variety of financial industry applications, including international payments. To enable B2B cryptocurrency payments between their customers, some U.S. institutions are already developing their own blockchain-based platforms, which include digital currencies. Reduced transaction fees and speedier money transfers are among the potential benefits, according to proponents. Japanese banks are also developing digital currency-based payment solutions.