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How to buy Bitcoin with debit card in 2022
A card payment is often the simplest way to deposit money into your crypto account. These days, most crypto exchanges accept debit cards and it has become a popular way to fund your account in order to buy Bitcoin. This page compares the best platforms that accept debit cards and shows you how to buy Bitcoin with one.
Can you buy BTC with debit card?
Yes, you can do so very easily on most crypto brokers and exchanges. It’s as simple as setting up an account and depositing money into it with a debit card payment. You can then use the money in the account to buy Bitcoin.
Where can you buy Bitcoin using debit card?
Use any of the platforms below to buy BTC with a debit card right now. Our experts have combed through the market to find the best platforms to invest with and shortlisted the options below. To learn more about how to use them, read on.
How to buy Bitcoin with debit card – a step-by-step guide
A debit card is one of the most simple payment methods around. Follow the steps below to learn how to use one to buy Bitcoin and make your first purchase.
- Create a bank account. You need an account with a bank or financial service that offers debit cards. Opening up a bank account entitles you to a debit card, which you can use to spend the money that’s in your account.
- Find a broker and sign up. Almost every broker and exchange accepts deposits via debit card. Some don’t, so it’s worth checking before you sign up, but once you’ve confirmed it you should create an account by supplying your contact details and a form of ID as verification.
- Decide how much to deposit. A good rule is to only invest 5% of your portfolio in any one asset. That approach reduces the risk of failure in one investment affecting your overall wealth too badly.
- Deposit money using a debit card..Sign into your broker account and head to the section where you make a deposit. Choose a debit card as your payment method and enter your card details. Check that the details are correct and then hit ‘deposit’.
- Search for the coin you want to buy. Use the search bar to find the current Bitcoin price. You can search with the word ‘Bitcoin’ or its ticker symbol, BTC. From the results, pick the pair that matches up with how you want to pay for it; BTC/USD if you want to pay in dollars; BTC/GBP if you want to pay with pounds.
- Execute the trade. Enter the details of the trade, including how much Bitcoin you want to buy and how much you want to spend. When you’re happy with all the details of the trade, hit ‘buy’ to execute it. Your new cryptocurrency will then show up in your account wallet, where you can leave it or transfer to a more secure self-custodial crypto wallet.
Top platforms that accept debit card
The platforms below are the best crypto brokers that let you use debit cards to buy Bitcoin. Along with some details about each platform, we’ve included an explanation of why each one has made our list of favourites.
eToro is the best and easiest way to buy Bitcoin. It’s one of the most popular crypto brokers and has a simple trading interface that’s geared towards beginners. Its CopyTrading feature means you can follow other people’s Bitcoin trades and learn from their decisions and explanations.
To use a debit card on eToro, just log into your account and choose ‘deposit funds’ from the left hand menu. From there, make sure ‘debit/credit card’ is selected as the payment method and enter your card details along with how much you want to deposit. Then use the search bar to search for BTC and click ‘trade’.
68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Coinbase is another simple, beginner-friendly exchange platform. It is purely a crypto exchange and so makes it very easy to buy Bitcoin. It also boasts a huge range of other cryptocurrencies so you can invest in altcoins like Ethereum and transfer them to the Coinbase wallet for safekeeping.
Anyone can use a debit card to deposit money into Coinbase as long as the card supports 3D secure (which almost all cards do these days). Go to your settings and add a payment method. Once you have added the card by entering your card details you can buy digital currency straight away.
Bitpanda is a crypto exchange where you can buy Bitcoin and spend it using Bitpanda’s own debit card. The exchange is simple to use and particularly popular with European users as it offers lots of different ways to pay, including debit cards.
Using a debit card on Bitpanda is much like any other platform. Sign up and then go to the account section to deposit funds. Choose a card as your payment option and enter the relevant details. Then choose how much to deposit and then search for Bitcoin in order to buy it.
Should I use a debit card to buy Bitcoin?
A debit card is often the easiest way to buy Bitcoin and it’s just like making any other online purchase. It makes for a near instant transaction, so you can start buying crypto immediately, and offers you a level of buyer protection.
Debit card payments are more convenient than bank transfers and normally faster. The trade-off is that the fees are more expensive. Conversely, it’s often cheaper to use a debit card than an alternative payment method like PayPal. The trade-off there, of course, being that you have to sacrifice some anonymity.
Ultimately, the decision depends on whether speed is more important to you than cost. Debit cards are a popular payment method on almost every crypto exchange but there are plenty of others too.
What are the fees for buying BTC with debit card?
They vary dramatically between platforms. The fee for debit card deposits can range from 1% to 2.5% of the amount, while there may also be a fee for withdrawals as well. eToro, for example, charges a flat fee of $5 on every withdrawal.
Alternative payment methods
As Bitcoin is the most popular cryptocurrency there are many different ways to buy it. A bank transfer is a common way to buy Bitcoin, while you can also use apps like Google Pay, Apple Pay, or PayPal.
A broker like eToro lets you buy Bitcoin with no trading fees. However, you may have to pay fees in other ways, such as through a commission on the spread (the difference between the buy and sell price), or on deposits or withdrawals. A decentralised exchange like Uniswap is the best bet for low fees but it takes a little more expertise to use.
Most platforms that accept debit cards offer lots of other cryptocurrencies as well as Bitcoin. Expect to be able to buy Ethereum and other large cap cryptos on every platform, but it’s worth checking before you sign up.
Yes, Coinbase accepts debit cards. It does charge a relatively high fee for deposits via debit card, however, as you have to pay a 2.5% charge on any card deposit.
Yes, Binance accepts debit cards. It charges a 1.8% fee for card deposits in Euros or Pounds.
No, it’s not possible to withdraw cryptocurrency to a debit card account with a standard bank at the moment. You can store BTC on PayPal or in a dedicated crypto wallet, otherwise you have to leave it in the broker or exchange account.
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