Nick Chong · 3 days ago · 2 min read · Insights via Grayscale Investments
How to buy Bitcoin with credit cards instantly
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Whether you’re new to cryptocurrency or a seasoned trader, you’ve probably heard that it’s possible to use a credit card to buy Bitcoin instantly.
But what are the advantages, and how fast can you actually get the Bitcoin?
We’ve put together this guide to show you five different ways to buy Bitcoin with a debit or debit card, and also provided some information on speed and security.
In this article we will feature:
- Why you should use a credit card.
- How fast you can get Bitcoins.
- How Bitcoin ATMs work.
- What P2P exchanges are.
- Why NordikCoin is one of the best methods
- Where to find Bitcoin debit cards
- How to buy Bitcoin through your wallet
Why use a credit card to buy Bitcoin?
There are many ways to buy Bitcoin online, including bank transfers and trading for other cryptocurrencies. The downside of some of these methods is that you sometimes have to wait for several days before the transaction is complete.
It’s a different story when you use a credit card.
It’s much faster than a bank transfer, which means you can buy Bitcoin pretty much instantly. Some exchanges charge higher fees for using a card, but that can easily be offset if you buy at the right time and get a good deal.
Is it really possible to buy Bitcoin instantly?
It depends on which methods you use. The term “instant” sounds good, but the reality is that most places require you to go through a so-called Know Your Customer (KYC) process before you can buy Bitcoin.
That’s both good and bad.
It’s good because it usually means they want to run some verification checks. That protects both you and the exchange or broker you buy from.
But it’s also bad if you want to buy Bitcoin right now. Take a look the rise and fall of Bitcoin’s value. You’ll quickly realize that volatility means you only have a short window of opportunity to make a good deal.
That’s why it’s good to look at which methods are truly “instant.”
Another factor to consider is security. Many websites, exchanges, and brokers that enable you to buy Bitcoin instantly do so at the cost of your safety. Since they don’t have the same security measures as established exchanges, you run the risk of losing your hard-earned Bitcoin.
We believe NordikCoin is the best choice because it enables you to buy Bitcoin within seconds without compromising your safety. But we’ll let you make the call once you’ve looked at the options below.
1. Bitcoin ATMs
Bitcoin ATMs have been around since 2013, and enable you to buy Bitcoin with credit cards instantly. You also have the option to sell your Bitcoin, if you so wish, or trade it for another cryptocurrency.
If you want to buy Bitcoin with your credit card then a Bitcoin ATM will work like any other ATM. Verify the address you want your Bitcoins transferred to, select the amount, and insert your credit card.
Voila! You’ve just purchased Bitcoin with your credit card.
Some ATMs will also allow you to buy Bitcoin with cash. Since there are over 30 different Bitcoin ATM models, so your options may vary depending on which type you use. Furthermore, you may also be able to buy and sell the following cryptocurrencies:
- Bitcoin (BTC)
- Bitcoin Cash (BCH)
- Dash (DASH)
- Dogecoin (DOGE)
- Ether (ETH)
- Litecoin (LTC)
- Monero (XMR)
- Zcash (ZEC)
Not sure if there’s a Bitcoin ATM near you? Head over to Coin ATM Radar to find the nearest one. You can also search based on the type of cryptocurrencies the ATM dispenses.
LocalBitcoins is a peer-to-peer Bitcoin exchange that allows you to trade Bitcoin directly with other people.
It’s sometimes possible to get a better deal than on an exchange because there is no middleman who takes a cut. That’s not always the case, however, since each person sets their own rates as they see fit.
There is also the added risk of fraud on a P2P exchange because there isn’t the same level of security and verification as on a traditional Bitcoin exchange.
That said, it’s possible to buy Bitcoin with credit cards instantly on Local Bitcoins. Alternatively, you can also use PayPal to transfer money to the seller.
NordikCoin is a new and innovative European Bitcoin exchange. The team behind it consists of cryptocurrency experts, legal professionals, financial auditors and blockchain technologists. It’s perhaps the quickest way to buy Bitcoin with credit cards right now.
The exchange relies on government issues and approved electronic ID solutions. Currently, these include BankID, NemID, and MobileID. These electronic IDs are already tied to a bank account, which in turn has a credit card associated with it. More electric ID solutions are also planned to be supported in the future.
The advantage of using this system is twofold.
For one, it enables users to create an account and buy Bitcoin in less than 5 minutes. All you have to do is head over to the NordikCoin website, click “Buy Bitcoin”, log in with an electronic ID solution and all the required ID checks are performed automatically in the background during the signup process.
Secondly, it also provides one of the highest levels of security so there’s virtually no risk of fraud.
When you use NordikCoin, your Bitcoin will be protected by cold storage solutions that require multiple signatures to access. In other words, it aims to be hacker-proof.
4. Bitcoin Debit Cards
Ok, so you managed to buy your Bitcoin from NordikCoin. But how do you spend it in an easy fashion later? One solution is to get a Bitcoin debit card. Quite a few companies offer such cards. The card issuers are typically Bitcoin brokers that have formed a partnership with either Visa or MasterCard.
It’s not been an easy ride for many of them. Both Visa and MasterCard have dropped several of the partnerships in the past due to regulation issues.
But the ones that remain on the market today stand as strong as ever.
A Bitcoin debit card comes with an app that gives you access to a wallet to store your Bitcoin and a cryptocurrency exchange to buy and sell them.
But what if you don’t already have Bitcoin? That’s where the credit card comes in.
You can link your existing credit card (issued by your bank) to your Bitcoin debit card account and use it to top up your mobile wallet.
Here are the 12 Bitcoin debit cards that are active in 2020:
Ready to Buy Bitcoin with Your Credit Card?
Now you know five ways you can buy bitcoin with credit cards instantly. As mentioned, the word “instant‘ has to be taken with a grain of salt — all depending on which method you use.
If you want a combination of speed and security, then NordikCoin is your best bet. You can set up an account in less than five minutes. Once that has been created, it only takes seconds to buy Bitcoin.
Disclosure: This is a sponsored post brought to you by Omega Media. For more information on our rates for sponsored posts, please see our advertising page.