With recent developments in legislation, cryptocurrencies are well on their way to becoming a mainstream form of currency. One of the biggest benefits for users, is the ability to purchase Bitcoins instantly.
The way we are using our money is becoming faster and more efficient than ever before. Using credit and debit cards are the most common methods to buy Bitcoin. The process of buying bitcoin using these methods is very simple.
Before buying Bitcoin, it is essential to research the various different ways you can purchase them, key financial systems that allow for purchasing coins directly, or trading them via CFD (contracts for difference), and the benefits of buying Bitcoin, such as aiming to solve the problems with the current monetary systems.
If this has piqued your interest, read on to find out how easy it is to buy Bitcoin using your credit or debit card instantly.
Create a Wallet
There are four main categories depending on your preference. If you want to buy a small amount of Bitcoin (up to $100 worth), you may want to consider creating an online wallet. These wallets run on a cloud and can be accessed by multiple devices with an internet connection; they are very convenient, but often require more layers of protection and are more prone to hacking attempts.
A safer option is to create a desktop wallet. These are downloaded and installed on a computer and can only be accessed from the device they are installed on. Going even further than this, in term of safety is a hardware wallet, these small devices that look like USB drives allow you to make all transactions in a safe way using multiple layers of security.
You can also create a Bitcoin paper wallet. These are physically printed keys that allow you to store, send and trade your Bitcoin offline.
Finding an Exchange
After creating your wallet, it is now time to find a trusted cryptocurrency exchange where you can buy Bitcoin, using your credit or debit card. An exchange is an online platform that allows customers to buy and sell cryptocurrencies for other assets. While there are a number of options out there, it is best to find one that is easy to use, responsive at all times and has a proven record of satisfied customers.
For an added layer of security, when purchasing Bitcoin with a credit or debit card, ensure the exchange requires verification to use its functions. This process should take no longer than five to ten minutes to complete, and shows the efficiency and responsiveness of an exchange.
The customer services offered should be accessible at all times, and be available to contact through various methods of communication.
Not all exchanges will offer the ability to buy Bitcoin using a credit or debit card, so it is essential to conduct as much research as possible before you look to start investing into the crypto industry.
Purchasing Bitcoin
Once you have found an exchange that offers the ability to buy Bitcoin with a credit or debit card, the next part of actually buying them couldn’t be easier. You just select the amount you want to buy from the exchange of your choosing, and the Bitcoin purchased will be sent to the wallet you have set up prior to the registration to the exchange.
It is important to keep these details secret from anyone else. You are liable for any damages to your wallet or Bitcoins, much like you would be with a physical wallet with cash inside of it.
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The process of buying Bitcoin using your debit or credit card, as long as the exchange offers this option, is instant and you will see the purchased Bitcoins in your wallet within seconds of the payment being authorised.