Buying Bitcoin with a debit card has become more accessible in recent years. Today many brokers and cryptocurrency exchanges accept e.g. VISA, Mastercard, and Maestro debit cards as a payment method to buy Bitcoin easily.
It’s essential to choose a regulated exchange with low fees; in this guide, we review the best place to buy Bitcoin with a debit card and cover each step with screenshots.
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How to Buy Bitcoin with Debit Card
- Choose a Bitcoin exchange or broker – OKX, Coinbase and Binance are all good options.
- Create an account
- Deposit funds into your account, selecting the debit card option
- Search ‘Bitcoin’ in the drop-down menu
- Click ‘Open Trade’ and select an amount of Bitcoin to buy
Best Brokers to Buy Bitcoin with Debit Card in April 2024
The most regulated and well-known cryptocurrency exchanges that accept debit card deposits include OKX, Coinbase, and Binance.
Before recommending brokerage platforms, we review and select brokerage platforms according to some guidelines before recommending them. First and foremost, we consider safety and whether the platform has solid regulations and privacy policy not to share your details with a third party.
Next, we review their pricing system, which includes what trading and non-trading fees the brokers charge, as well as usability for both beginners and experienced investors.
How to Buy Bitcoin with Debit Card
In this part of our guide, we will show you how to buy Bitcoin with a debit card with our recommended exchange, OKX, although the process is similar for most centralized exchanges and brokers.
Step 1 – Open an Account
OKX is available for free as a mobile app or via its website – download the app or create a new account.
Step 2 – Verify Your Account
Users will need to enter, and verify, an email address and phone number to continue, and create a strong password. Verification also requires users to go through Know Your Customer (KYC) steps for compliance issues.
This will include a valid photo ID such as a driving license or passport, as well as completing a live image check – some users may need to provide proof of address.
Step 3 – Deposit Funds via Debit Card
Once the account is open and verified, users can deposit fiat funds via a debit card.
Other methods, including bank transfer and e-wallets, are also available.
Step 4 – Buy Bitcoin
To buy Bitcoin with a debit card on OKX, select ‘Trade’ on the dashboard and search for Bitcoin/BTC. Once you have found it, select ‘Buy’ and then enter the amount of to spend (there is a minimum purchase of $30).
Then, select the desired broker to carry out the purchase – they are all trusted partners including Wert and Moonpay. Then continue the process until the transaction is complete.
Buying Bitcoins Instantly with Debit Card without Verification
There are a handful of methods to buy Bitcoin without verification using your debit card. One of these methods is to buy Bitcoin from Bitcoin ATMs that you can find near your location. Still, it’s not a very popular method as you may not find a Bitcoin ATM at your site.
Some P2P marketplaces allow you to buy Bitcoin directly from the seller without verifying your account. Plus, several crypto exchanges, like Binance and Paxful, will let you make purchases without ID verification or partial verification.
With this in mind, you need to consider that although buying Bitcoin instantly without verification may seem attractive, it should be mentioned that this method is not the safest of all. In this case, you provide your card information to a platform without knowing how they will use it. With top brokers on our list, verification is mandatory as it’s a step toward more secure trading.
Advantages and Disadvantages of Using a Debit Card for Buying Bitcoin
Every payment method has privileges and drawbacks over others when referring to its speed, transaction fees, acceptance, etc. Let’s look at the advantages and disadvantages of using a debit card to buy Bitcoin.
Advantages
- A debit card is becoming a trendy method of buying Bitcoin.
- With debit cards, you can instantly buy Bitcoin, so it’s a speedy way to make your purchase.
- Debit cards are accepted on many brokerage platforms and crypto exchanges.
- It’s a more convenient and simple-to-use payment method.
- When considering the advantage of profiting from BTC price movements, you can take debt if you don’t have cash.
Disadvantages
- You need to provide more card information than in the case of using e-wallets.
- Transaction fees may be higher than average.
- Some platforms may limit the amount of BTC you can purchase with your debit card.
- It can somehow affect your credit scores.
Withdrawing Bitcoin from a Brokerage Account
Bitcoin is a decentralized asset, which means there’s less risk of losing your coins or being hacked. However, it’s not secure to leave your coins in your brokerage or exchange account as these are centralized, and if hackers hack your account, they can somehow access your bitcoins.
You can create a Bitcoin wallet account and withdraw your BTC to avoid this risk. With this method, you get full access to your coins, and no third party is between you and your coins. There are various versions of building your BTC account, and CFD trading platforms are among the providers of such wallets. If you want more information about safely storing , visit our guide to learn How to Open Your Free BTC Account.
Where to Buy Bitcoin with Debit Card in April 2024
To buy Bitcoin with a debit card, first, you must find a brokerage platform with the best terms and user experience. There are plenty of platforms to trade Bitcoin, but not all offer convenient and safe trading.
Hence, in this part of the guide, we will introduce the best five brokers allowing you to buy Bitcoin online via debit card.
1. OKX – Buy Bitcoin with Debit Card at No Cost
Our second pick as the best place to buy Bitcoin with a debit card is OKX.
OKX is the world’s fifth-biggest cryptocurrency exchange, maintaining a 24-trading volume of around $800 million. This platform has listed over 350 exchanges and supports everything from standard trading features like P2P trading to veteran-specific utilities like spot trading, derivatives trading, margin trading, and block trading.
OKX offers Copy Trading, allowing users to follow the trading signals created by the more successful traders of OKX. For people who want to have even an easier time trading, OKX offers trading bots as well.
The trading fee on OKX is based on the maker/taker model, which can be reduced by holding OKB tokens. VIP traders whose assets are more than or equal to $100k in their trading account or whose 30-day trading volume is more than $10 million also enjoy a lower trading fee.
In terms of security features, beyond standard security features, OKX has also implemented OKX Risk Shield, an asset-risk reserve holding a portion of a user’s assets. Till now, close to $700 million worth of assets are held in this reserve.
Your capital is at risk Bybit is a smart, convenient, and intuitive cryptocurrency exchange platform offering options, including DeFi, Spot and Margin trading, and Derivatives trading. With over 5 million users, Bybit has built a strong network of traders ranging from novices to experts, who benefit from the platform’s diverse portfolio of over a hundred digital assets and contracts. It has one of the highest trading volumes in the industry, bringing in new users regularly- a possible reason for this would be its easy registration process, which eliminates the need for a KYC. Although established in 2018, it is a relatively new platform, and the trading fees are one of the most competitive in the market. Bybit charges a maker-taker fee of 0.025%-0.075%, respectively. This figure is reasonable compared to the industry average of 0.063% for takers and 0.25% for makers. The platform accepts various payment methods, most prominently debit/credit cards. The platform offers up to 100x leveraged trading on perpetual futures contracts. It uses the MetaTrader 4 and its Dual Price Mechanism (Mark Price and Last Traded Price) system, making the platform intuitive. The platform offers flexible staking options for 9% APY, bonuses crossing over $3000 USD, and the attractive offer of Dual Asset Mining, with the opportunity to earn up to 400% APY. Additional features that set ByBit exchange apart are its Smart Trading System with charting tools and market information, 100K TPS Matching Engine, HD Cold Wallet, and its high-powered system functionality. The platform does not demand any minimum deposit amount or charge any deposit fees. Bybit encourages potential users to sign up with welcome rewards of up to 600 USD and other incentives such as earnings from referral programs. Huobi is one of the most impressive exchange platforms in the cryptocurrency market today. Since its launch in 2013, it has only grown more popular. With its unique features, like the Huobi Wallet and its alternative Huobi Autonomous Digital Asset Exchange (HADAX) market that supports altcoins and tokens, users can benefit from Huobi Global’s state-of-the-art user interface and functionality. Besides having its own native Huobi Token (HT), Huobi has over 400 cryptocurrency assets, 1000 trading pairs and is regulations-compliant in economies worldwide. The platform charges a trading fee of 0.2%, and there are no deposit fees when buying P2P. Additionally, the platform, with the launch of Huobi Lite, has enabled commission-free trading, including crypto-to-crypto swaps with zero fees, providing users with a competitive edge. The minimum deposit amount is 100 USD. It is helpful for new investors to know that Visa card is acceptable for cardholders in most European countries and Australia, whereas, MasterCard is acceptable for cardholders in the United Kingdom, Gibraltar, and Poland. It is a good bet to invest in Huobi as the platform is constantly reinventing itself; apart from its novel Huobi DeFi Wallet and free Trading Bot, some of its recent innovations include: Crypto.com, a platform launched in 2016, is fast rising to be one of the It also allows cryptocurrency trading, staking, swapping, and a distinct NFT trading platform. Crypto.com charges a competitive trading fee of 0.4%, which can be further reduced with increasing discounts and CRO bonuses. An exciting feature of Crypto.com is its distinct incentives- wherein trading fees decline by 10% upon staking a minimum amount of 5000 Crypto.com coins (CROs). Crypto.com Earn allows users to earn a high-yield interest of 8.5%-14.5% on stablecoins over a flexible period. Crypto.com does not charge new users any debit/credit card fee for the first 30 days of accessing the platform’s benefits or while making any transactions. Another draw for users who want to make payments via debit/credit cards is Crypto.com’s offer of earning up to 8% cashback on purchases with a Crypto.com Visa Card. Users can use five prepaid Visa Cards; for example, the Obsidian Card pays a cashback of 8%, the Midnight Blue Card gives a cashback of 2%, and the Ruby Steel Card a rate of 1%. The platform is also affordable, with a debit/credit card fee of 2.99%, as there is no hidden charge or separate fees to exchange crypto-to-crypto or deposit cryptocurrency assets in the mobile app (which is available on both Google Play and the App Store). The difference between Libertex and other CFD platforms is that Libertex does not charge any spreads when you buy or sell assets. Instead, it sets competitive commission fees every time you make a trade. To buy Bitcoin with a debit card on Libertex, you must pay a small transaction fee of 1 EUR, which is very low, especially when you trade high amounts of BTC. As mentioned, Libertex offers two trading platforms – an in-house built platform designed for beginners and experts and the well-known MetaTrader4 trading platform. Regarding your safety, Libertex is regulated by two top authorities, so your trades will stay secure. Pros
Cons
2. Bybit – Excellent Exchange for Traders
3. Huobi – Popular Exchange with Huge Number of Assets
4. Crypto.com – Trusted US-Based Crypto Exchange
most coveted cryptocurrencies and digital assets exchange for all. The platform supports over 250 cryptocurrencies, making it one of the most extensive collections in the market.
5. Libertex – Buy Bitcoin with No Spreads
Libertex is one of the oldest CFD trading platforms that is best known for forex trading for professional traders. But, the broker supports the MetaTrader4 trading platform, where you can buy other assets and cryptocurrencies, including Bitcoin. Pros
Cons
6. Uphold – Easy Web & App Trading
Trusted by 7 million users across 184 countries, the Uphold exchange platform, app, and debit card are a fast and convenient way to buy Bitcoin.
Alongside their website, they also have an app on Google Play and the App Store for Android and iOS users.
Uphold charges a spread of 0.85% when buying Bitcoin and 1% when selling.
Some other popular assets you can invest in with Uphold include Apple stock, Amazon, AT&T, Tesla, Gold, Silver, Platinum, Palladium, and more. Their motto is ‘anything to anything’ trading.
They also open investing to anyone through fractional stock trading – you can invest as little as $1 in companies like Google. Unlike some online stockbrokers, you must accumulate much capital to get started.
Pros
- No deposit or withdrawal fees
- Debit card pays 2% cashback for using crypto
- Also, buy and trade stocks, metals, fiat currencies
Cons
- Paypal not yet supported
- Fewer crypto assets are supported than larger exchanges
7. Capital.com – Buy Bitcoin with Debit Card on an AI-based Platform
Capital.com is a relatively new CFD and Forex broker, with over a million registered users from 50 countries. It was founded in 2016 and has offices in London, Gibraltar, and Cyprus.
Also, it is among the first brokers to incorporate AI technologies to provide its users with tips and ideas for trading. Capital.com is strongly regulated by four tier-1 companies, including FCA, ASIC, CySEC, and the National Bank of the Republic of Belarus (NBRB).
As for its trading fees, the broker does not set commission fees, but there are rollover fees when the position is held open overnight. Capital.com also charges tight spreads that are relatively low compared to other CFD brokers.
Apart from debit cards, you can also use wire transfers, credit cards, and many e-wallets to charge your account. At last, there are no inactivity fees on the platform, and the broker does not charge any annual management fees.
Pros
- Competitive trading fees
- Many payment options
- Simple and easy-to-use trading platform
- Offers Standard, Plus, Premier, and Invest account types
- Small deposits of $20 to start trading
- No inactivity fees
- An AI-based trading platform
Cons
- Bitcoin is available only through CFDs
- Deposits are higher for more advanced accounts
8. Coinbase – Buy Bitcoin with the Largest Crypto Exchange in the US
Coinbase is a cryptocurrency exchange platform supporting over 50 crypto assets and is considered one of the market’s most user-friendly crypto trading platforms. It was founded in 2012 in San Francisco and has attracted more than 68 million users worldwide.
This is mainly because Coinbase stands out with its good reputation and is considered the largest cryptocurrency exchange in the US in terms of liquidity market.
You may be a bit confused by the exchange’s pricing system. Overall, the platform charges relatively higher fees, but it compensates users with the excellent user experience that the platform provides. Trading fees on Coinbase can vary from $0.99-$2.99, depending on the BTC you buy. Plus, it charges a commission fee of $3.99 when you fund your account with a debit card.
Coinbase offers two trading accounts – a standard account adapted for newbies and more experienced traders. And it provides an alternative for professional active traders – Coinbase Pro, which stands out with lower fees but supports fewer cryptos. Coinbase also has an advanced mobile app for Android and iOS users.
Pros
- A wide selection of cryptocurrencies
- Well-designed mobile app
- Simple-to-use trading platform
- Good security systems
- Low minimum trades
- Offers cryptocurrency wallet
Cons
- Higher than average trading fees
- Provides email support for customers
Everything to Bear in Mind When Buying Bitcoin with Debit Cards
In this section of our guide, we will sum up everything you need to consider before buying bitcoin with a debit card.
Debit Card: The first thing to do in the process is to issue a debit card if you still don’t have one. If you already have debit cards, make sure that brokerage platforms accept the type of debit card you own.
Find a good broker: A good broker can indirectly help you get more returns. The first things to consider when you select a platform are their reputation, fees, user experience, and whether they accept payments through debit cards.
Trading fees: The pricing system is the next thing that plays a significant role in your trading process and capital gain. Also, pay attention if there are any extra fees for debit card transactions.
Transaction speed: Another crucial thing to consider is how long it takes to complete a transaction with a debit card. In this sense, debit cards usually have privileges over other payment methods as they are faster and simpler, but, once again, this may differ depending on the brokerage platform.
Safety: Safety is among the most vital things you must consider. The problem is that you provide your card details to a platform without knowing how they will use it later. So, you need to select a trustworthy broker that won’t use your data illegally.
Bitcoin wallet: When you get your bitcoins, you must find a safer place to store them. Bitcoin wallets are designed for this purpose – an excellent method of keeping your coins decentralized and away from any third party.
Taxation: You will also be taxed for your earnings when you trade Bitcoin. So, you must examine how Bitcoin is taxed and inform the appropriate government body to pay the taxes.
Safety and Security When Buying Bitcoin with a Debit Card
Safety is one of the most crucial factors you need to consider when buying Bitcoin with your bank cards. Essentially, you provide vital information about your card details, personal data, etc. So, there are two things you need to worry about – how will the brokerage platform protect your data, and how secure is it to trade on the platform? With all this in mind, you need to select a broker with a high security and privacy policy.
Finding a broker with heavy regulations and strong security can solve all these problems and significantly lower the risks of information leakage. Security is a key factor when recommending a broker, so we always select brokers with rules and strong regulations to protect your privacy.
Apart from not sharing your details with a third party, our top brokers also use SSL encryptions to ensure that nobody other than you can access your account or debit card. Reviewing the brokers we offer, you can be sure that all of them are regulated by top authorities and use two-factor authentication or other security systems to provide safe trading.
Buying Bitcoin with Prepaid Debit Cards
Several brokerage platforms allow you to buy Bitcoin with prepaid cards with privileges over other payment options. Prepaid cards are becoming a more and more popular method for purchasing cryptocurrencies. First and foremost, these cards are more secure because you provide fewer card details than debit cards.
The next great thing is that you can use only the balance you deposited on your card. It means that when you deplete your funds on your prepaid cards, you cannot take any debts, which lowers the risk of investing more than you can afford. Plus, your checking accounts are not connected to your prepaid card. Hence, if someone could hack and get your card details, they could not access your other accounts.
To learn more about this payment option, visit our Buy Bitcoin with Prepaid Card guide.
How to Store Bitcoin on a Digital Wallet
When you buy Bitcoin with a debit card, you keep them in your brokerage account, which is a centralized platform. So, if you aim to keep your coins for a long time, you must find a more secure way to store them – a decentralized platform. In other words, you need to create a Bitcoin wallet, which enables you to store and protect your coins with private keys only accessible to you.
Bitcoin wallets can be of two kinds – hot and cold storage wallets. Cold storage wallets are considered the most secure medium to store your cryptocurrencies. These hardware devices you purchase can offline protect your access to the part of the blockchain where your BTC is stored. In our article Best Bitcoin Wallets, you can find the best Bitcoin wallet providers and a complete guide on creating a wallet.
Buying Bitcoin Anonymously with Debit Cards
You can also buy Bitcoin anonymously with a debit card using a peer-to-peer marketplace, where you contact the sellers and purchase directly from them – no broker or other third party is involved. Still, we should note that this method of purchasing cryptocurrencies is not the safest.
Still, if you want to buy Bitcoin anonymously and reduce the risks, you need to choose a marketplace that uses an escrow mechanism. This way, you can be sure you will get your coins after paying for them. Meanwhile, though top brokers require you to go through a verification process, they possess a privacy policy not to share your data with anyone else. Neither can they track how you will use your BTC afterward.
Taxation on Bitcoin Earnings in the US
Bitcoin and other virtual currencies are classified as property by the US Internal Revenue Service. So, if you gain any capital in trading bitcoin, you need to inform the government about your gains and be appropriately taxed.
You will pay different taxes depending on how long you have held your BTC before you sell them and gain capital. So, there can be long-term and short-term capital gains where the percentage of earnings you must pay as taxes is different. We suggest you visit the IRS page for more information about how to inform your Bitcoin rewards and how you will be taxed.
Conclusion
Buying Bitcoin with a debit card has some privileges over other payment methods. One great thing is that transactions are faster than in the case of wire transfers and e-wallet options.
It was too difficult to buy Bitcoin via a debit card in the past, but things have changed significantly. And now, several brokers and exchanges accept this method for purchasing Bitcoin and other altcoins. Still, there are certain things to consider before selecting a brokerage platform to start trading, the most important being privacy and pricing system.
In this guide, we have reviewed and made a list of the best brokers for buying Bitcoin with a debit card. So, to start, you can select the broker that best suits your requirements and use our guide to start buying Bitcoin online with a debit card.
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FAQ
How to buy bitcoin with a debit card?
To buy bitcoin with a debit card, in the first place, you need to open an account on a brokerage platform or a crypto exchange that accepts debit cards as a payment option. Secondly, you need to link it to your brokerage account and fund it. With a verified and funded account, you can then start buying bitcoin.
Where to buy bitcoin with a debit card?
In terms of security and pricing systems, brokers are the best platforms to buy bitcoin with a debit card. To start, you need to find the broker that best suits you and create an online account.
How to buy bitcoin instantly with a debit card?
The period of funding your account with a debit card depends on the trading platform you will use. With debit cards, you can charge your account more quickly compared to wire transfers. So, with the top brokers that we included in our list, it won’t be a problem to buy bitcoin instantly with a debit card.
Where can I buy bitcoin online with a debit card?
We have made a list of the top brokers that we mostly recommend to buy bitcoin with a debit card. Libertex, Coinbase, Capital, and Pus500 are all excellent platforms for purchasing bitcoin.
How can I buy bitcoin anonymously with a debit card?
You can buy bitcoin anonymously with a debit card on peer-to-peer exchange platforms. In these platforms, you directly communicate with the seller. First, you need to browse the platform to find the seller that suits your requirements, then you should contact them to plan the details of the contract.
How long does it take to get my Bitcoins after using a debit card?
Transactions are usually conducted faster with debit cards, but it also depends on the exchange you use. The best brokers mainly verify your purchase in a matter of minutes or hours.
Are my debit card details stored on the Bitcoin exchange site?
Your information is stored on the brokerage/exchange platform, but top brokers and exchanges usually have a policy not to provide your details with anyone else and protect your account so that no one can access it other than the user.
Is it safe to buy Bitcoin with a debit card?
It depends on the trading platform you choose. You can safely buy bitcoin with debit cards on top brokers with excellent regulatory systems and privacy policies. They use SSL protocols to protect your safety and don’t share your data with a third party.
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