How to Buy Bitcoin with Debit Card: Step-by-Step Process to Follow
Despite global macroeconomic uncertainty, Bitcoin has created an enormous buzz in recent years. Numerous businesses and individuals are still thinking about whether they must opt for digital currency. The number of blockchain-driven enterprises and the use of Bitcoin are improving steadily. There are numerous reasons which justify why the use of Bitcoin is flourishing in recent years. Before digging deep into how to buy bitcoin with debit, credit, or Paypal, let’s understand what bitcoin is, and it is beneficial.
What is Bitcoin?
In 2008, Bitcoin was invented as a cryptocurrency. The currency came into existence and used in 2009; its implementation was released for an open-source system at the initial level. Bitcoin is a digital currency used by users using a peer-to-peer bitcoin network without the need for any intermediate.
Bitcoin was created mainly as a reward for a popular process known as mining. Users can exchange this currency for products, services, and other currencies as well. Research shows that around 2.9 to 5.8 million unique users in 2017 preferred to use a cryptocurrency wallet, while most preferred to use Bitcoin.
Bitcoin: Just an Application Not an Identity
Cryptocurrency is a popular application of Blockchain. Bitcoin has gained superb fame and is often used by people these days. Most people get confused between Bitcoin and Blockchain. Bitcoin is a type of cryptocurrency that mainly implements the concepts introduced in Blockchain and provides an efficient way of completing payments.
There are more than 1600 cryptocurrencies currently (as of 2018); it’s still counting in the market. Bitcoin belongs to a single type of Blockchain, while Blockchain expands in multiple styles and introduces better control as well as security to each block being stored in the chain.
Bitcoin for Business: How it Benefits in 2021
Undoubtedly the global economy is stepping toward a digital eco-system during the last few years. Everything is going paperless these days, starting from money transfer to paying bills. Bitcoin is one of the most promising additions, especially when it comes to digital payment. The digital currency has gained massive popularity in recent years and explores some of the reasons listed below to know the reason behind bitcoin’s popularity.
Bitcoin is considered decentralized, mostly because of blockchain technology. This simply means central authority is absent, such as state apparatus, especially when it comes to currency. Thus it provides businesses with a high level of security and also helps them to identify the frauds at the initial level; this simply results in preventing huge losses to a great extent.
Availability and Accessibility
Numerous mobile apps and websites are available in the market these days, helping solve their regular tasks. Bitcoin provides you with access to perform transactions from anywhere and anytime.
You just need a smartphone and internet access to make the payment online using bitcoins. Many modern tech stacks, a podcast streaming app, or an app like Hulu, Spotify, and many more provide users with multiple payment gateways that make it easy for them to make payment and upgrade their subscription plan easily and speedily without facing any hitch. This modern way of transactions is very beneficial for users as it has made it easy for individuals to make the payment as per their choice.
It has become easier for any of the individuals to transfer the currency with “digital wallets’; it helps them calculate an accurate balance and ensures that the coins which any of the individuals uses are owned by the current spender. This helps to prevent fraud and identity theft at the initial state, ensuring business success and growth.
Step-by-Step Guide to Buy Bitcoin with Debit Card
Bitcoin is becoming the primary stream that enables users to purchase Bitcoins instantly. Different types of payment are accepted, especially when it comes to Bitcoin exchange. Credit and debit cards are an excellent option, and the primary reason behind it is the irreversible nature of Bitcoin. Moreover, it seems easier to purchase Bitcoin with a credit or debit card; today, many legit Bitcoin exchanges prefer accepting credit & debit cards as payment methods.
Bitcoin is an effective way to pay online; it can be used as an intermediary. However, it's quite challenging for individuals to buy Bitcoin using a debit card if they don't know the appropriate way. But the process is not as simple as heading to an ATM to get cash, while it's not as difficult as it was in the past.
Purchasing Bitcoin with a credit or debit card is not easy as it sounds. Some exchanges are at risk of fraud and aren't willing to accept it. However, there are enough brands that partner whenever required. So the trading platform doesn't accept direct trading. The process of using credit and debit card is quick and can be complete within 10 minutes by following few simple steps:
- Create a Bitcoin Wallet
There is an end number of Bitcoin wallets that you can consider to choose practical and secure transactions. You can check different options before selecting any for making payment.
- Connect Active Debit Card
The process of connecting your active debit card with the Bitcoin wallet platform is relatively more straightforward. If you don't have an active debit card, then contact your bank and ask them to deposit the amount to it. It can help you to make purchases easily that also completely hassle-free.
- Register with Bitcoin Trading Platform
Once after making your account active, follow the quick registration process to start transactions using Bitcoin. Make sure that platform you choose for registration is accepting debit card transactions as well.
- You're All Set to Make Your First Bitcoin Transaction
If you want to make use of peer to peer marketplace, then perform online research. After that, find a seller that accepts debit card transactions. Once you complete all settings, you're all set to make the transaction.
- Best Places to Buy Bitcoin With Debit Card
Unlike obtaining a Bitcoin wallet, it's simple; finding a reliable Bitcoin or cryptocurrency platform that accepts debit cards requires you to conduct research. The difficulty level depends mainly on factors such as location, country, and much more. Some jurisdictions of the country are strict on buying Bitcoin.
However, buying or selling Bitcoin is one of the most convenient and efficient ways to trade Bitcoin instantly. Undoubtedly choosing a suitable Bitcoin exchange is quite a difficult task. There is numerous option which you can select, these includes:
There are many more to explore and choose to buy Bitcoin with debit or credit card. Explore all to make smart choices.
Summing It Up
Bitcoin has become a superior term these days globally. There are numerous advantages which this modern currency offers to businesses and individuals who consider making use of it for accomplishing several activities like paying bills, transferring money, and much more with few simple taps on a smart device. Bitcoin has been adopted by the end number of financial businesses to provide adequate service at competitive rates.