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How to buy Bitcoin with Paysafecard
Paysafecard’s big selling point is that it doesn’t leave a digital trail. Combine that with Bitcoin, which can be extremely private as well, and you can maintain your anonymity online. Learn about the pros and cons of using Paysafecard for Bitcoin and the steps involved in the process.
Where can you buy Bitcoin with Paysafecard?
The brokers below are the best trading platforms around that also accept Paysafecard. To dive in and get started, you just need to pick one of them. Otherwise, keep reading to learn more first.
What is a Paysafecard Bitcoin broker?
Just like any other cryptocurrency broker, it offers Bitcoin at a fixed price so that you can get it instantly. The main feature you’re looking for is that it accepts Paysafecard as a means of funding your account.
In case you’re unfamiliar with the service, a Paysafecard is a prepaid online payment method based on a 16-digit PIN code that doesn’t require you to link to a debit or credit card and doesn’t require you to provide any personal information.
How to deposit and withdraw via Paysafecard
Here are the steps you need to take to deposit money with a Paysafecard:
- Go to any one of the 650,000 points of sale that offer Paysafecard.
- Choose a value of either €10, €25, €50, or €100, then pay for the card with either cash, or your debit card.
- You will then receive a 16-digit PIN that you can use to make deposits with your broker.
- Go to the Bitcoin broker website, select payment methods, then choose Paysafecard from the list.
- Enter your 16-digit PIN.
- You can now spend it on Bitcoin, without ever needing to provide ID, or link to your bank account, credit card, or other conduit of financial information.
The process used to withdraw funds with your Paysafecard is simply the reverse of the deposit method. Supply your email address to the Bitcoin broker, request a withdrawal, select the amount you want to withdraw, then execute the transaction.
What should I look for in a Paysafecard Bitcoin broker?
You should always demand great service; the fact that a broker accepts Paysafecard isn’t necessarily enough to make it a top choice. Here are some key traits to look out for:
- Low transaction fees. The fees you’ll have to pay vary depending on the platform, but they are an important factor to consider when comparing brokers. Our guides will help you find the most reasonable transaction fees.
- Speed. Most transactions and deposits are instant, but if speed is of particular importance to you then make sure to check before you sign up for anything.
- Ease of use. The best brokers are simple to use, with a clean interface that points you where you want to go. It’s often a good idea to check that the platform has a quality app as well, so that you can access your account on the go.
- A strong reputation. Use reviews from other users to check that the platform is as good as it claims to be. User reviews is an excellent way of narrowing down your choice by filtering out the ones with poor customer service.
- A verifiable track record. Your chosen broker should have a track record going back at least a few years.
Should I buy BTC with Paysafecard?
- Totally anonymous. Paysafecard does not require you to link to a bank account, credit card, or any other financial medium that leaves a digital trail.
- Easy to buy. You can buy and load a Paysafecard at hundreds of thousands of bars and markets around the world. So if you want Bitcoin quickly, you can pick up a card right now and link it to your Bitcoin broker or exchange account.
- Fast. Paysafecard transactions often happen within a matter of minutes and in some cases, they can even happen instantly.
Yes. Once you buy the card, it’s not linked to any of your personal or financial information. That means any transactions with Paysafecard are anonymous.
Not necessarily. Online brokers and exchanges usually allow you to store your coins in your account without the need to transfer to a personal wallet. However, some services will require you to enter an existing wallet address where the coins will be sent.
Also, for a higher level of security, you should move any coins you’re not planning on selling or trading in the near future to an external wallet – ideally a hardware wallet.
They usually take a matter of minutes, and in some cases are instant.
In certain cases, yes. If that’s a high priority for you, take the time to research the different Bitcoin services that accept Paysafecard to see how quickly they complete transactions
Sometimes. They can be below 1%, but you also need to watch out for any markups applied to the price of Bitcoin. The problem is that crypto exchanges which offer low transaction fees could end up costing you even more money via sellers that charge inflated prices.
No, you cannot hold cryptocurrency in your Paysafecard account.
No, Coinbase does not accept Paysafecard.
Yes you can. It depends on what each individual broker offers, but generally they will let you get the top coins, such as Ethereum or Litecoin as well.
That depends how you look at it. The ability to get a Paysafecard at your local bar in a matter of seconds without any need to provide ID or financial information is certainly convenient. But the relative lack of Bitcoin exchanges that accept Paysafecard can make searching for and finding the right trading service for your needs a challenge.
Biggest pro: There’s no ID required to set up your Bitcoin trading account on a peer-to-peer exchange (nor is there any ID required for the Paysafecard itself), which is great if you want to stay anonymous.
Biggest con: Peer-to-peer crypto exchanges are vulnerable to scams.
Not easy at all. Paysafecard is accepted at fewer peer-to-peer exchanges than other payment methods such as Neteller and Payoneer.
Yes. Paysafecard is easy to buy and automatically restricts the amount of money you can spend. So it’s ideal if you’re just dipping your toe into the crypto waters for the first time.
That depends. If you’re looking for a quick profit, it is possible to find Bitcoin at a reasonable price, experience a small price gain over the span of a few days, and cash out.
On the other hand if your goal is to invest in Bitcoin’s long-term potential, then a hold approach in which you ride out the bumps in the road can make more sense.
Fact-checking & references
Our editors fact-check all content to ensure compliance with our strict editorial policy. The information in this article is supported by the following reliable sources.
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