They only allow you to buy goods or services with the money you actually own. Another benefit of not having a credit facility is that if you fall victim to a scam, your losses are limited to the amount of money on your card. Prepaid cards that have the MasterCard or Visa logo on them can be used anywhere that accepts these card scheme networks. A bank transfer is generally considered the best way to buy crypto because the fees are cheaper and it carries less risk than paying by card. For some people, however, paying by card is an easier and more convenient option.
Using a card enables you to buy crypto instantly, whereas with a bank transfer it can take around three to five days for the crypto to reach your account. Many crypto exchanges accept traditional debit and credit card payments, but these have their drawbacks. Buying cryptocurrency with a credit card is an especially risky strategy.
Planning to use profits from Bitcoin — or any other cryptocurrency — to pay off a card balance is risky because there is a high chance the value of Bitcoin will plummet. Equally, many banks offer overdraft facilities alongside debit cards, which means you can essentially use them like a credit card by borrowing from the bank. A prepaid card enables you to buy crypto with a card but without the risk of spending more money than you have and being unable to pay it back.
It was one of the first exchanges to provide cryptocurrency purchases via debit and credit cards. The company is heavily-regulated, which may concern some users who value their privacy. They do, however, provide good options when it comes to payment cards. The fees are also noticeably lower here than with CoinMama, which is a distinct advantage if you plan to buy on a regular basis. Coinbase is in the process of adding to their list of cryptocurrencies, which is also a good sign.
Some good self-hosted wallets are listed below for your safety:. Harsh Agrawal is the Crypto exchanges and bots experts for CoinSutra. He has a background in both finance and technology and holds professional qualifications in Information technology. After discovering about decentralized finance and with his background of Information technology, he made his mission to help others learn and get started with it via CoinSutra.
Really Bitcoin was not popular in , but now,crypto madness has caught everyone, everyone wants to know about Bitcoin and also wants to own a piece of it if not one whole Bitcoin. The best part is, it has become effortless to buy. Hi there! Thanks for the article!
I can recommend you to visit linkkoin. Just visit the website and check it for yourself. Coinbase does not let you buy anything on their wallet with a visa prepaid debit gift card. I just tried it does not work. Your email address will not be published. Save my name, email, and website in this browser for the next time I comment.
Notify me of new posts by email. This site uses Akismet to reduce spam. Learn how your comment data is processed. CoinSutra was started in with the mission to educate the world about Bitcoin and Blockchain applications. Want to buy Bitcoin with prepaid cards? And to your surprise and mine, many people want to buy BTCs with prepaid cards.
Buy Bitcoin from CoinMama. Buy Bitcoin from Coinbase. Buy Bitcoin From Localbitcoins Now.
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