Payment Methods for Buying Bitcoin

Above we have highlighted Coinbase and eToro and how you can buy bitcoin using these providers. There are advantages to using both, this obviously depends on what the user is looking for, but the best thing they do have in common is the payment methods they offer. You can buy bitcoin very quickly using either credit/debit card, bank transfer or Paypal, essentially the most popular payment methods. Although PayPal is currently only available to US citizens, more on that can be found below.

The methods we have highlighted are the best ways to pay when converting your fiat currency into cryptocurrency, you can also buy bitcoin using other cryptocurrencies but you need to already own another cryptocurrency, which would have seen you go through this process. This is step one for the beginners out there.

Below are the most widely used payment methods when it comes to buying anything and cryptocurrencies are no different. However, there are small nuances that you should be aware of each method as highlighted below:

Buying Bitcoin with a debit card
This is possibly the easiest and most accessible way to get bitcoin directly. All the methods described in this page will allow you to buy Bitcoins with a debit card. With so many people having access to traditional banking services, you will not be surprised to hear that you can buy bitcoin by using a debit card. If you have signed up to a bitcoin wallet, you can then use a bitcoin exchange to purchase the cryptocurrency using such cards. Besides the exchanges listed in this guide, you can also buy Bitcoins with a debit card using Coinmama.

Buying Bitcoin with a credit card

The method of using a credit card for buying Bitcoin is very similar than the exposed above. However, some exchanges have imposed restrictions to buy cryptocurrency using this payment. It depends on your region and the regulation of the platform. When buying bitcoin with a credit card, you must decide if you want to actually own the asset or if you want to buy it using leverage. We tend to recommend buying it using leverage because you will be buying it through a regulated provider. Most crypto exchanges are not regulated and, therefore, not quite safe.

Providers like eToro also have a very simple and easy process of buying bitcoin using credit cards. It is very user-friendly and makes sense for first-time traders considerably easier. Once you have signed up it is very easy to fund your account. Not only will it show you how to buy using a credit card but it also highlights some of the various advantages to using providers like eToro compared to crypto exchanges. Besides the exchanges listed in this guide, you can also buy Bitcoins with a credit card on Coinhouse and Bitpanda.

BTC credit cards? Bitcoin prepaid cards?
Bitcoin now is arguably a powerhouse in the financial sector now, maybe not up with the dollar or some banks, but its current market cap exceeds $100 billion. That is not something to turn your nose up at.

It is unsurprising that people are talking about getting bitcoin prepaid cards and even bitcoin credit cards. Although those may be a while away yet, with the growth we have seen and the uptake of retailers allowing you to purchase their goods using bitcoin, it surely must not be too long away.

Bank Transfer
Another of the best five payment methods to buy bitcoin is online transfer. This could prove to be an ideal payment option, particularly if you want to use funds that are in an account that you do not have a card for or it may help you avoid incurring fees on a specific card.

PayPal
Paypal is one of the best 5 payment methods to buy bitcoin
Of course, a huge number of people have money stored in online services like PayPal so it should not be a huge surprise to hear that you can use it to buy bitcoin. Bitcoin exchanges do not always allow it though so you may need to turn instead to other avenues such as making use of a CFD provider like eToro. Find more information here: How to Invest in Bitcoin Instantly With Paypal.

ATMs
The thought of being able to buy bitcoin at an ATM might seem bizarre but it is now a reality. Several websites offer listings on where cryptocurrency ATMs can be found across the world and the machines offer you the chance to buy bitcoin and then transfer it into your wallet of choice.