Although unthinkable a few years ago, buying bitcoins by credit card is now possible on a large number of platforms. What are the advantages of buying bitcoins by credit card? How to do it, and what are the disadvantages to take into account? We make the point for you.
Why would you want to buy bitcoins by credit card?
The advantages of purchasing bitcoins with a credit card
Paying for bitcoins by credit card has some undeniable advantages, especially if you’re just starting out in the crypto-ecosystem and want to get your first bitcoins. This is definitely the easiest way to buy bitcoins, as it is the same process as buying any other e-commerce product. It is cheaper than other payment options like PayPal!
Buying bitcoins by credit card has the advantage of being easy, but also fast: as soon as you buy, the bitcoins are received almost immediately.
The transaction is secure, especially if your bank uses the 3D-Secure payment which involves a verification of your identity.
The disadvantages of paying for bitcoins with a credit card
The main disadvantage of buying bitcoins by credit card is the transaction fees, which are much higher than if you deposit your first transfer on a currency exchange platform and place a classic purchase order. On the other hand, such a method involves a delay of about 36 hours before the transfer of funds, while bitcoins paid by credit card are received almost immediately.
Note that the risk of fraud remains when you choose to buy bitcoins by credit card, as on any site offering goods or services for sale online. It is therefore important to choose carefully the site where you are going to buy your bitcoins if you want to buy them by credit card.
Where to buy bitcoins using a credit card?
There are several platforms on which it is possible to buy bitcoins by credit card. To make your choice in good conscience, it is advisable to give particular importance to different criteria:
The reliability of the platform
Transaction fees (and the price of the bitcoin offered compared to the average price)
The confidentiality of the transactions (unfortunately, most of the platforms today require you to provide your personal information).
Below you will find our selection of reliable platforms where you can easily buy bitcoins by credit card.
Coinbase is one of the most reputable and widely used platforms in the world. Although the choice of crypto-currencies is quite limited, the platform stands out for its usability and simplicity of use. It is ideal for beginners who want to buy their first bitcoins by credit card.
Reliability of the platform
Coinbase is regulated by the American authorities and insures the funds of its users. It is one of the most reliable platforms you can find for buying bitcoins.
Coinbase also asks to verify your identity when you sign up, which partly affects the privacy of your purchases.
The fee for a credit card payment is 3.99%.