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How to Buy Bitcoin with Debit Card in 5 Minutes

Check out the guide below to find out how to buy bitcoin with debit card.
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Author: Nica San Juan
Last Updated: 12 August 2020

Initially, the debit card method was not widely accepted for Bitcoin purchases due to fake chargeback claims leading to scams where users received Bitcoin and later initiated were a payment reversal, keeping both their coins and their fiat currency.

Nowadays, there are a number of ways to buy BTC with debit cards, and a plethora of platforms to choose from.

In this guide, we will explore the top sites to consider, step-by-step tutorial to making your purchase, and how to avoid paying large deposit fees.

Where to Buy Bitcoin with Debit Card

With so many cryptocurrency exchange to choose from, where do you get started? Below, we list the top sites that accept debit card payments on Bitcoin purchases at no additional fee.

eToro: Buy Bitcoin in the UK with a Debit Card Instantly

OUR RATING

  • 0 deposit fees
  • Own bitcoin outright or trade it as CFDs
  • CySEC, FCA and ASIC regulated
  • Not suitable for advanced investors
75% of retail investor accounts lose money when trading CFDs with this provider. Crypto assets are highly volatile unregulated investment products. No EU investor protection.

Plus500: Trade Bitcoin CFDs with Debit Card

  • Regulated by industry-leading jurisdictions
  • Intuitive web and mobile platform
  • Two-factor authentication for improved safety
  • Customer support does not feature phone support
70% of retail investors lose money when trading CFDs with this provider.

Coinbase: Best Place to Buy BTC with Debit Card for Beginners

  • High buying limits
  • User-friendly interface
  • Instant buy option through debit card
  • Unreliable customer support

Libertex: MT4 Bitcoin Trading Site

Libertex is another giant in the world of crypto exchanges. It was established in 1997 and is a regulated broker by CySEC and FSA. The exchange offers trading services through two different trading platforms. It also offers, like the other exchanges, a user-friendly interface, making it a suitable exchange for both beginners and advanced users. It allows

Libertex is only for trading Bitcoin CFDs. To be able to start trading, all you have to do is sign up, access the trading platform with the list of all the instruments available. You can then type in the asset you are interested in, in this case Bitcoin. Once you've selected it you can analyse the price trend and decide whether you want to buy or sell.

A great aspect of Libertex is that it does not have spreads on its assets and commissions start from as little as 0.006% per trade, meaning that the trading fees are very limited. In terms of transaction fees, Libertex only charges a one euro fee for VISA which is very low, especially if you make transactions of significant amounts. The minimum amount you can transfer is 10 euros and the maximum is 10.000. Transactions are processed between 3 and 5 working days.

According to their website, Libertex has 2.2M clients and operates in 40 countries.

  • MetaTrader4 available
  • User-friendly interface
  • It is regulated by the FCA and CySEC
  • Only has one account type

How to buy Bitcoin with Debit card

eToro is the best crypto platform for US and non-US residents to buy BTC with debit cards. Visa, Mastercard, and more are all accepted and there are no deposit fees. Through eToro, you will have the choice to buy BTC outright or trade it as CFDs using leverage.

Check out below the step-by-step guide below to find out how to use a debit card to buy bitcoin on eToro.

Step 1: Create an account on eToro

Creating an account on eToro is simple and easy. Firstly, click on this link to go to eToro’s website. Just provide your name, email address, password and phone number. You’ll also need to tick the two boxes above the “Create Account” button to confirm that you’ve read eToro’s policies.

Step 2: Verify your account

You will need to provide some personal information to verify your eToro account. Sometimes, it will take a couple of days to verify your personal information. The verification process is needed to be done before you’ll be allowed to deposit money and trade with eToro.

As part of the verification process, you’ll need to provide government-issued IDs, bank statement or utility bill statement as proof of identity and proof of address.

Step 3: Deposit funds using your debit card

Enter your debit card information details as well as the amount you want to deposit.

Step 4: Buy bitcoins

Select the amount of bitcoin you would like to purchase. You’ll instantly get your bitcoins in your exchange wallet.

Visit eToro now

75% of retail investor accounts lose money when trading CFDs with this provider. Crypto assets are highly volatile unregulated investment products. No EU investor protection.

Bitcoin debit card fees

The fees involved in buying bitcoins using a debit card depends on the crypto exchange platform you’ll choose.

In most cases, crypto exchange platforms charge a percentage of the amount involved. Some of them charge a small percentage of only less than 5%. However, some sites charge a high fee of even up to 10%. Therefore, be careful when choosing an exchange platform when buying bitcoins.

Bitcoin debit card safety

The process of buying bitcoins using a debit card is similar to purchasing anything online wherein you will be required to provide your card information.

Since cryptocurrencies have become a widely accepted method of payment, there is a high demand for bitcoins. As a result, there has been an increase in bitcoin exchange sites. Unfortunately, some exchange sites are scams and have been designed to harvest private information such as debit card details. So it is vital to choose a reputable and reliable exchange site.

Although many investors use cryptocurrency exchanges like Binance and Coinmama to buy bitcoin with debit card, we would not recommend it. The reason for this is that these platforms are largely unregulated, and prone to security hacks. This could lead you to lose your investment. We would instead recommend you use secure, regulated platforms like the ones listed in this page.

eToro is a highly secure crypto exchange platform  and is definitely our recommended choice considering that it also has CySEC & FCA licenses.

Which debit card should I use for buying bitcoin?

All debit cards work the same and function like a written check. When you use a debit card to purchase bitcoins, the amount will be deducted directly from your account.

The most common types of debit cards used to buy bitcoins include VISA, Mastercard and American Express. Prepaid debit cards are also accepted. Before you choose a bitcoin exchange site, you should look out if it supports the type of debit card you are using.

How to Buy bitcoin with debit instantly

The process of buying bitcoins using a debit card depends on the crypto exchange site you’re using.

On some sites, the process is instant, and you receive the bitcoins you have bought in your wallet immediately. However, on some sites, you will have to wait for a few days for the process to complete. By using eToro, you can buy bitcoins in a matter of hours.

Can I buy Bitcoin with debit without ID or verification?

Yes. You can buy bitcoin with a credit card or debit card without ID by using cryptocurrency exchanges like Coinmama. You can also use bitcoin ATMs and person-to-person cryptocurrency exchange platforms.

Most bitcoin exchange sites however require users to go through a verification process. Having said that, there are certain sites that will allow you to buy bitcoin with debit card without verification. For example, eToro does not require users to go through the KYC and verification process unless they are buying a large amount of bitcoin.

Conclusion

Bitcoin has made it possible to transact anonymously. When it was launched, the value of a single bitcoin was low, and most people did not embrace it.

Within a short time, its popularity grew tremendously and became an accepted mode of payment. Initially, it was difficult to purchase bitcoins using debit cards due to the issue chargeback. Since significant measures have already been adopted, it is now easy to buy bitcoins using debit cards. And to make your life even easier you can even buy Bitcoin with PayPal.

Check out now one of the crypto exchange platforms we’ve discussed above so you can start buying bitcoins using your debit card.

Best Platform to Buy Bitcoin with Debit Card

Visit eToro

  • 15+ Cryptos + Wallet Available
  • Debit Card Available
  • CySEC & FCA regulated
75% of retail investor accounts lose capital when trading CFDs with this provider. Crypto assets are highly volatile unregulated investment products. No EU investor protection.

What is bitcoin?

Bitcoin is a decentralized currency that enables people to exchange value anonymously. Being decentralized means that there is no central authority and middlemen to control the currency.

Can I use my debit card to purchase bitcoins?

Initially, most exchange sites did not accept debit cards as a method of purchasing bitcoins. Now, it is possible to buy bitcoins using your debit card.

What is a cryptocurrency exchange site?

This is a website that will enable you to buy various digital currencies such as bitcoins using fiat currencies.

Are my credit card details saved in the bitcoin exchange site?

Most people are afraid of using their debit cards to purchase bitcoins because of the privacy issue. When choosing a crypto exchange site, make sure that it employs strict privacy confidentiality.

How long does it take to get my bitcoins after buying using a debit card?

Some bitcoins exchange sites allow you to buy bitcoins instantly. However, on other websites, you will have to wait for a few days.

Remember, all trading carries risk. Past performance is no guarantee of future results.
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Janica Sherine is an expert writer who specializes in financial technology and cryptocurrency. At her young age, she was already able to work with founders who graduated from Harvard, tech startups funded by Y-Combinator, CEOs of multi-million dollar blockchain companies, investment companies in London and many more.

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eToro: Buy Bitcoin

eToro: Buy Bitcoin

eToro: Buy Bitcoin

Visit eToro

Cryptoassets are highly volatile unregulated investment products. No EU investor protection.

eToro: Buy Bitcoin
Visit eToro

Cryptoassets are highly volatile unregulated investment products. No EU investor protection.

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