People would agree that buying bitcoins nowadays can be confusing, especially when using credit cards and debit cards online. Good thing there are available tips and resources to help make the buying process quick and easy. So you have your credit card, but where exactly can you buy bitcoins instantly and how?
What Is a Bitcoin and How Does It Work?
Before we explore where and how we can buy bitcoins, it’s important to first understand what this means. Technically, a bitcoin is a digital currency wherein encryption methods are implemented in regulating the units of currency while verifying funds transfers, which are independently operated by a central bank. It has become a powerful and controversial form of digital currency today.
Electronically created and held, bitcoins are not printed like euros and dollars. They are actually produced by the people, as well as some businesses that run bitcoin mining computers worldwide via software. This cryptocurrency also aids online payment systems, but bitcoins aren’t controlled by anyone.
Steps in Buying Bitcoins via Credit Card
In the US, UK, Europe, and Canada, CoinBase is the one that helps people buy bitcoins in a smoother and faster way. But worldwide, CoinMama is one of the most trusted platforms when getting this cryptocurrency. For your reference, below is a step by step procedure to guide you in buying bitcoins using your credit card:
- First of all, you will need to get your own bitcoin wallet before you can actually buy this digital currency. But if your broker doesn’t require this, you can proceed to the next step.
- Create an account on the site you have chosen such as CoinMama. Make sure that all details are true and correct when logging in personal details. Open the account if you want to explore the options.
- When connecting your credit card, just provide your credit card information on your profile. Navigate the account for the settings and payment methods avaialble.
- You will need to verify your identification card (ID) for safety purposes. Also, you can choose your payment method from PayPal, bank account, or credit card provider.
- Now, wait for the confirmation if you’re successful in creating your account. Once your account has been confirmed, you can instantly buy bitcoins with your credit card or other chosen payment method.
Important Things to Consider in Buying Bitcoins
Of course, you want to feel safe when doing online money transactions, especially in providing credit card information on websites. To help you ensure that you are dealing with a reliable site, here are some of the pros and cons you need to know:
- When buying bitcoins online using your credit card, the main advantage is that you get a fast and easy way of getting bitcoins no matter where you are.
- There’s high liquidity to ensure safe bitcoin buying online as well as buying limits.
- You can benefit from the Instant Buy option that is available when using your credit card or even your debit card.
- If you decide not to use your credit card, you will have to wait for up to five days in order to complete your transaction via bank transfers.
- Cryptocurrency sites may track your location and how you spend the bitcoins.
Can You Trust CoinMama for Your Bitcoins?
Across the globe, CoinMama is a popular bitcoin broker that specializes in bitcoin buying using credit and debit cards. The site will charge you with 6 percent fee for the processing and risk fees that are required in credit card online payments. But you can quickly buy bitcoins worth of up to $5,000 per day. If you buy for the whole month, the limit would be up to $20,000.
In just a matter of a few minutes, you can get your bitcoins once your account has been verified by the site. You can also take advantage of special promos and discounts when buying bitcoins from CoinMama in select US states and other locations. This trusted and reliable bitcoin broker works in various countries around the world.
Bottom Line
When choosing a bitcoin broker, make sure that it has an excellent reputation when it comes to buying bitcoins online. If you’re with the right company, it’s even easier and faster to get this cryptocurrency wherever and whenever you want.
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