Bitcoin is perhaps the most well-known of the cryptocurrencies, and many analysts expect that over the next few years it will soar in value. Bitcoin is incredibly volatile at the moment, with the price soaring or crashing by thousands of dollars in just a few hours on a regular basis.
Buying Bitcoin can be tricky
The volatility of Bitcoin has created a lot of rags to riches stories. Still, it has also left some people with no savings, and with funds that are hard to liquidate, especially during periods when Bitcoin’s value has crashed. Many banks and credit card companies now block people from buying Bitcoin with their cards, because they are worried that people might get into debt trying to buy the cryptocurrency.
Some sellers also dislike selling cryptocurrency to people who want to pay with a credit card, because they are worried about chargebacks. This is changing, and anti-fraud companies are offering new measures to reduce the risk to the merchant, but it’s still something that you should be aware of when shopping for cryptocurrency or tokens online.
These restrictions mean that it can be tricky to buy Bitcoin with a credit card. There are options for doing so, but you’ll need to do your homework first to make sure that you buy from a reputable source and that you don’t end up falling foul of any rules that your bank has in place.
Several highly reputable exchanges accept credit card payments for Bitcoins, allowing anyone to start trading the cryptocurrency or using it as a progressive alternative to established payment systems without any delays or hoops to jump through.
Buying with a debit/credit card is one of the easiest ways to buy Bitcoins. Also, it’s one of the fastest! Already, most people understand how to buy things online using credit and debit cards. Buying Bitcoin with a credit card is easier for less technical persons.
How to buy Bitcoin cryptocurrencies with a credit card
If you decide to use your credit card to purchase cryptocurrency, here is a brief summary of how to do so:
Choose a wallet: Essentially, this is where your cryptocurrency is stored. There are several different types of wallets—online, mobile, hardware, etc.—that have different levels of convenience and security. A lot of exchanges will set up a wallet for you when you make a purchase or register for an account.
Pick an exchange: Exchanges are what people use to buy and sell digital currency. There are lots of popular exchanges online. These exchanges vary based on the limits on buying and selling cryptocurrency and on what fees they charge on exchanges.
Link your credit card and make a purchase: Exchanges will often let you make a purchase with a credit card, debit card, or by linking your bank account. Also, fees and limits on buying and selling cryptocurrency may vary based on your payment method.
Which credit cards can I use?
If you plan to purchase cryptocurrency with a credit card, your options will be limited because some card issuers have decided to ban these transactions. Card issuers are worried that people who charge cryptocurrency purchases to their credit card won’t be able to pay it off due to the risk—resulting in losses for the card issuer.
When it comes to credit cards, Visa and Mastercard both allow cryptocurrency purchases—at least for now. American Express also supports it but limits you to $200 per day and just $1,000 per month. Chase also allows you to buy Bitcoin, though finding an exchange that takes that card might be difficult. The only credit card company that has outright banned cryptocurrency purchases is Discover, making the decision all the way back in 2015.
Where to buy Bitcoin with credit card
While some exchanges only allow direct payment methods like connecting a bank account or paying with PayPal, the most convenient ones accept credit/debit cards — and will enable you to buy Bitcoin instantly.
Nordikcoin – The safe and place for your Bitcoin needs
Buying Bitcoin with a credit or debit card used to be really hard. Luckily, we have made the process smooth and fast.
The first thing you might notice is the user interface of our website. NordikCoin offers one of the most straightforward and easy to use interfaces with some of the lowest fees for credit card purchases. We ensure all cryptocurrency that is stored in our online storage platform. If you are shopping around for cryptocurrency exchanges, some of the primary considerations are its security, fees, and buying options.
Buy leading cryptocurrencies
NordikCoin is an excellent option for those wanting to purchase Bitcoin and other cryptocurrencies.
It’s easy to register, and you can also buy other cryptocurrencies, such as Ethereum, Litecoin, Bitcoin Cash, and other major coins. Once you have your account set up, we will handle the wallet/technology side of things for you, so that you can trade for a relatively affordable fee.
User your local currency
You can buy Bitcoin with a credit and debit card, and we’re available to users in several countries. We charge a flat fee for debit card transactions.
NordikCoin accepts a few different payment options, including your local currency, and credit or debit cards. You can buy instantly with a credit card, but you should note that we accept only Visa or Mastercard. We are also in the process of rolling out purchases through traditional bank transfer. The limits for transactions are lower for credit and debit cards than they are for bank accounts. The tradeoff is that you can buy and sell quickly.
You’ll need to prove your identity before you can purchase currency. The most common way of doing this is by advanced ID verification and full KYC through official electronic ID solutions. With a supported bank- or government-issued electronic ID, verifying is as simple as logging in, without the need to provide any photo of yourself or your passport.
Signing up is a very simple process, and it also provides you with a lot of trading tools if you are looking to get into trading your assets.
Buying is very simple, and you’re not limited to whole Bitcoins. You can enter the amount of Bitcoin that you want to buy (including fractions), and you’ll be told how much its worth in dollars, with a fee added at the end. Or you can say how much you are willing to spend before fees and buy the amount of Bitcoin that works out too.
You can make one-off purchases, or you can set up repeat purchases, such as buying $100 of Bitcoin per month as an investment when you get paid. This is a simple and easy way of building up a portfolio of cryptocurrencies.
We have an excellent reputation in the crypto community as we have a reliable customer support. We are based in Sweden and support several countries.
NordikCoin is a fast-growing cryptocurrency exchange open to people all over the world. We offer low trading fees, which is one of the reasons for our popularity.
Conclusion: Where to buy Bitcoin?
Regular exchanges are simpler and beginner-friendly but charge higher fees. Peer-to-peer exchanges have smaller transaction fees but are generally more complicated and lack the same customer support that regular exchanges have. Some peer-to-peer exchanges may also allow its users to trade Bitcoin anonymously, with no verification. However, these exchanges may be in violation of KYC (Know Your Customer) laws.
Many exchanges charge increased fees for purchases made with credit cards, while some exchanges may not allow credit card purchases at all. The amount of currency that you can buy with a certain payment method may also be limited, with higher spending limits available to individuals paying with a linked bank account.
Linking your bank account is different than paying with your debit card, and it may take longer—three to five business days—for funds to be available with this payment method. Other factors, including your account’s history with a given exchange, may also affect how much cryptocurrency you can purchase.
Exchanges may require you to verify your identity before they let you make a purchase or may limit the amount that you can buy without verification. They need this in order to be in compliance with anti-money laundering laws.
Often, you’re required to submit a picture or scan of a photo ID, and in some cases, you’re required to provide a picture of yourself holding your ID. At NordikCoin you only need a supported bank- or government-issued electronic ID.
With NordikCoin you get a user-friendly interface, safe and easy transactions, and flexible payments and purchase options. All in one place. We offer low transaction fees with VISA and MasterCard support in your local currency, ensuring swift fiat-to-crypto movement. We are also in the process of rolling out purchases through traditional bank transfer.
Get started with NordikCoin today; one of the easiest, cheapest, and safest places to go for all your Bitcoin needs.