Buying Bitcoin via credit card is quite a unique and a simple process which involves certain means of verification before finally the deal is set. Though it sounds quite simple, for a newbie to complete the transaction is a bit tricky one. There are only few cryptocurrency exchanges that encourage its customers around the globe to purchase Bitcoin via credit card as there are certain issues in relation to chargeback.
Today we are going to look at the process by which you can use your debit card to purchase Bitcoin of your choice in a short and simple way. But before we start, we need to know about the sites that provide the above mention facility.
Exchanges that offer Credit Card Facility
There are different exchanges that offer to buy bitcoins via credit card. The list includes:
- VirWox Virtual Currency Exchange.
- Indacoin Cryptocurrency Exchange.
- Exmo Cryptocurrency Exchange.
- Change Crypto-to-Crypto Exchange and others.
- The process is simple and just asks for few details of the customer before the management could proceed further for completion of the transaction.
- If you are willing to buy Bitcoin then you need to first sign up with your personal details filling up the required fields. Now if the purchase is up to 150 dollars then you do not need to verify your card, but if the amount is more then you need to register with the site before proceeding.
- The site will ask for valid documents that are certified by the government as legal means of your identification. You can simply use your driving license or passport to complete the procedure.
- Once the process is done the site will ask for your choice of purchase. You simply need to make your choice and provide the site authority with your valid Bitcoin address in which you intend to keep your Bitcoins eventually completing the payment.
- The exchange asks for a valid email id to where a mail will be sent once you receive the bitcoins.
- For billing purposes, you need to give the numbers and pay the added fees. Generally, within an hour you will receive your Bitcoin into your Bitcoin wallet.
Is buying cryptocurrency with a credit card safe?
Though the use of a credit card is a verified online process that has been in use for a long time now, there are quite a few risks involved. It has been found that cryptocurrency services do have a very tight and better security and maintains customer’s safety in regards to card information, but no one can ignore the privacy issues related. One must remember that transaction via card involves giving up some fundamental data which if goes into bad hands can cause issues.
Coming to the conclusion we can say that though the process sounds quite tricky, this is one of the best and popular ways of purchasing Bitcoin around the globe.