When it comes to buying Bitcoin, there are several options when it comes to deciding how you want to pay for your purchase. While some people may feel safer using a direct bank transfer, this payment method can take up to eight days to process. Therefore, many users prefer to buy Bitcoin with card, as debit and credit cards remain two of the most popular and convenient ways to purchase Bitcoin and other types of cryptocurrency from exchanges.

Furthermore, one of the best reasons to use a debit or credit card for your purchase is that on most exchanges, you’ll be able to get your Bitcoins instantly, which is great for being able to buy exactly when prices start taking a dip or right before they start to climb back up again.

Unfortunately, the convenience of being able to get your Bitcoins instantly comes at a cost. In fact, on most exchanges, you’ll be dinged with a 4% or 5% transaction fee for using a card to make your purchase. While this may not seem like a massive fee, for those day-traders who buy and sell Bitcoin often, these fees often end up eating a significant amount of any financial gains being made on a transaction.

With that in mind, if you’re not pressed for time, you could also consider making your purchase with a direct bank transfer in order to save on transaction fees. Bank transfers typically won’t incur high transaction fees; however, they take anywhere between three to eight days before being cleared by your bank or financial institution.

So, if you’re looking to get your hands on your coins instantly, you’ll have to bite the bullet and pay a small fee for the convenience.

How to buy Bitcoin instantly?

In this comprehensive guide, we’re going to focus on how to buy Bitcoin instantly on a few different exchanges that accept debit and credit card transactions as methods of payment. We will also be walking you through how to make your purchase on some of the most popular exchanges on the market.  

Then, after you’ve learned what the different options are for buying your Bitcoins, you’ll be much better suited for deciding which exchange is right for you.

Finally, before we get into the real meat of this guide, it’s worth noting that it’s always important for you to transfer your Bitcoin to a secure holding wallet after you’ve made your purchase. Many users choose to buy Bitcoin with card for its speed and convenience, but storing your coins for an extended period of time on any exchange is never recommended because exchanges are vulnerable to hackers and cyber attacks. Remember, no matter how safe an exchange claims to be, there are no exchanges that are 100% without their risk.

So, why should you use your debit or credit to buy your Bitcoin?

Essentially, buying Bitcoin by using your debit or credit card is the fastest way to get your hands on your coins.

As we’ve already mentioned above, when you use a direct bank transfer, you’ll be subject to your bank’s standard processing times. This means that you won’t be able to move your newly purchased Bitcoins from the exchange until the transaction clears, which can take anywhere between three to eight days.

This can be extremely inconvenient for those who are looking to buy their coins and then sell them right away. So, with that in mind, it should be easy to see why most people prefer to purchase Bitcoin using either a debit or credit card.

What is the best place to buy Bitcoin with credit cards?

Just like with any other type of cryptocurrency, Bitcoin must be purchased from a cryptocurrency exchange or marketplace. These are decentralized platforms that allow crypto users to buy, sell, and trade their coins with other users either for fiat currency or other types of crypto.

There are many exchanges to choose from. However, that doesn’t mean that all exchanges are created equal. In fact, different exchanges will always have different features. For example, some exchanges may charge fees for purchasing Bitcoin with a credit card instantly, whereas other exchanges might not even accept purchases being made with a card.

Below, we’ll go over eight of the most popular Bitcoin exchanges to buy Bitcoin with credit cards or debit cards. This is intended to show you what your options are, as well as helping you get a better idea as to where you should make your Bitcoin purchases.

1. Coinmama

Since its launch in 2013, Coinmama has gained an excellent reputation in the crypto community worldwide. They support users from many countries and most US states. This makes Coinmama one of the best places to buy Bitcoin with debit card or credit card.

Based in Israel, Coinmama is one of the most popular cryptocurrency exchanges today. It offers several unique features that set it apart from competitors.

First, Coinmama has a simple user interface designed for both new and experienced traders.

The exchange also offers pre-set packages with different amounts of Bitcoin. This makes it faster and easier for users to sign up and select a package. Of course, you can still buy any amount of Bitcoin you want manually.

One important thing to note is that Coinmama does not provide a wallet service. After your purchase, you must provide your own wallet address. Coinmama will then send your purchased coins there.

So, if you plan to buy Bitcoin on Coinmama, make sure you have a wallet ready to store your coins.

Transaction Fees

The exchange charges roughly a 5% transaction fee when making your purchase with a debit or credit card. However, they also offer instant delivery of your coins as soon as the purchase transaction is complete.

Coinmama also offers rather high purchase limits. Users are allowed to purchase up to $5,000 daily or $20,000 monthly; the exchange has a minimum purchase limit of $60.

More information about Coinmama’s can be found here.

2. Coinbase

Known as one of the most reputable crypto exchanges, Coinbase was recently valued at approximately $8 billion. They have been around since 2012 and are diligently working to bring cryptocurrencies to everybody around the world.

The exchange is also known for their simple, straightforward process of getting started with cryptocurrency trading. To use their services, all you’ll need to do is to visit their site, create an account, select your desired payment option, and then you’ll be able to start purchasing Bitcoin.

However, one thing that makes Coinbase slightly different is that they require all users to upload a valid photo ID in order to confirm their account.

Another important factor that makes Coinbase such as reputable exchange is the fact that they work with authorities in the United States. Therefore, any profits made, as well as purchases of more than $20,000, will be reported to the IRA as taxable transactions.

It’s important to note that credit card purchases have recently been disabled for users based in the US However, US users can still make their purchases using a debit card.

Transaction Fees

Compared to many of the other popular exchanges, Coinbase has relatively low transaction fees at just 3.99%. If you choose to buy Bitcoin with card, keep in mind that Coinbase does not charge any fees for funding your account, and you will only incur a fee when you decide to make a purchase.

The exchange’s purchasing limits vary depending on your account’s level of verification. Therefore, if you wish to provide a minimal amount of verification, you’ll be stuck with a rather low daily limit. However, the upper-most clearance level allows Coinbase users to transact up to $50,000 on a daily basis.

3. Bitpanda

Another popular exchange for purchasing Bitcoin instantly is Bitpanda.

Launched in October of 2014, Bitpanda has since won an award for startup of the year in 2016 and has been a trusted name in the blockchain industry ever since. With that in mind, Bitpanda is definitely a safe exchange to use for any and all of your Bitcoin purchases.  

This exchange is different from others in the fact that it offers users several different payment options such as SEPA transfers, Sofort transfers, Skrill, Giropay, and EPS. Additionally, Bitpanda also lists a wide array of cryptocurrencies to choose from.

Unfortunately, Bitpanda only supports users in Europe. On the other hand, they do have very competitive rates and transaction fees that helps set them apart from their competitors. This, combined with their simple and easy-to-use interface, makes Bitpanda an excellent choice for new crypto users.

However, users who are looking to remain completely anonymous might want to think twice about using Bitpanda. The platform requires that all users to provide a valid photo ID before their accounts can be confirmed and used to trade Bitcoin.

Transaction Fees

As mentioned, Bitpanda’s fees are extremely low compared to some of the other popular exchanges. For purchases, users are charged 1.49%, while any sales made on the platform only incur a 1.29% transaction fee.

4. CEX.io

Based out of London, UK, CEX.io is another excellent option for buying Bitcoin using a debit or credit card. The exchange has been around since 2013 and originally operated as both a cryptocurrency exchange, as well as providing its users with a very popular cloud mining service. Not long after its launch, one of CEX.io’s mining pool became so big that it held about 42% of the Bitcoin network’s mining power.

The company has since shut down their mining service, and today, CEX.io operates solely as a cryptocurrency exchange. Nonetheless, CEX.io is a very well-rounded exchange and offers their users a wide array of strong security features, cross-platform trading, excellent liquidity, as well as a mobile app and diverse API solutions.

As one of the most popular exchanges in the world, CEX.io boasts a client base of more than two million crypto traders and supports users in most nations worldwide. They also cater to 24 of the US states and have become known for their multi-level accounts that can be customized depending on whether you’re a new, intermediate, or professional trader.

Transaction Fees

For any purchases made using a debit or credit card, including when you buy Bitcoin with card, you’ll incur a 3.9% fee. Selling your Bitcoin back to a card will only incur a 2.9% charge. This feature helps CEX.io stand out since most exchanges don’t allow selling coins back to a credit card.

While CEX.io may seem to offer low purchasing fees, they charge a premium on the current cryptocurrency price. This means Bitcoin or other cryptocurrencies are sold at a price higher than the actual market value.

5. Luno

While Luno is not one of the most well-known exchanges, it is still an excellent platform. Crypto users can buy or trade Bitcoin against Ethereum or fiat currency here. The company aims to facilitate both storage and transactions through their exchange and wallet service.

Established in 2013, Luno has built a large community and a strong reputation. They also developed an app, allowing users to buy, sell, and trade Bitcoin on the go.

Luno is a reputable exchange for buying Bitcoin but does not support users worldwide. Currently, it serves users from Europe, Malaysia, South Africa, Nigeria, and Indonesia.

If you live outside these regions, you cannot purchase Bitcoin through Luno. However, users within these areas benefit from some of the lowest transaction fees in the market.

Transaction Fees

To give themselves a step up on the competition, Luno charges zero fees for deposits made using a debit or credit card. This makes it especially convenient for users who want to buy Bitcoin with card. Then, upon placing a Bitcoin order with Luno, users are only charged 0.25% as a buyer and 0% as the seller. Due to this, Luno is quite possibly the most affordable cryptocurrency exchange to buy Bitcoin from.

6. Bitstamp

Established in 2011, Bitstamp has come to be known as the first fully licensed Bitcoin exchange on the planet. This means that Bitstamp offers a lot of variety when it comes to the payment methods that it accepts. Not only can you use your debit or credit card to purchase Bitcoin, Bitstamp also accepts payments made by direct bank transfer, SEPA payments, as well as many other types of transfers.

Like many other exchanges, Bitstamp is known for having a relatively simple user interface, which makes navigation, account management, and purchases super simple for any level trader. Bitstamp also requires users to confirm their identities before they can start using their accounts.

Once the account has been verified, you’ll have the option to link a debit or credit card of your choice, and you’ll be free to start purchasing Bitcoin.

Transaction Fees

Their fees are certainly not anywhere near as low as some of the other exchanges that we’ve mentioned above. However, as an incentive to their users to make larger purchases, especially those who buy Bitcoin with card, Bitstamp follows a staggered fee structure.

Starting with smaller purchases of up to $500, Bitstamp charges an 8% fee. Then, the larger the purchase, the lower the fee. So, purchases between $500 and $1,000 will incur a 7% fee, purchases between $1,000 and $2,500 incur a 6% fee, and any purchase between $2,500 and $5,000 will only incur a 5% fee.

7. Coincorner

For crypto users who prefer more privacy, Coincorner might be the ideal exchange to buy Bitcoin from. The company is British-based, located on the Isle of Man. It does not require any verification or authentication from its users.

Signing up for Coincorner is very simple and quick. You can start buying Bitcoin within minutes after providing the required information.

Go to their website and choose to create a new account. You’ll need to confirm your email address. After that, you gain access to the marketplace where you can easily buy Bitcoin and other cryptocurrencies.

Coincorner also offers a mobile trading app and a built-in wallet to store your coins immediately after purchase. While the wallet is secure, keep in mind that cryptocurrency exchanges are prime targets for cybercriminals.

No exchange is 100% safe. To protect your assets, it is always recommended to transfer your coins away from the exchange where you bought them.

Transaction Fees

In terms of transaction fees, Coincorner offers fairly competitive rates. For making debit or credit card deposits to your account, you’ll incur a 2.5% transaction fee, whereas the company also charges an additional 1% for making purchases on the exchange. This brings Coincorner’s fees up to an average of 3.5% per transaction.

8. LocalBitcoins

Launched in June 2012, LocalBitcoins is a popular Bitcoin exchange based in Helsinki, Finland. Their platform is designed for private selling and trading of cryptocurrency between users.

Prices on LocalBitcoins can vary a lot depending on the seller. However, the platform makes it easy to check vendors by providing a review history. This helps users evaluate a vendor before making a transaction.

Privacy and security are major concerns in the crypto industry. LocalBitcoins addresses this by giving relevant vendor details without revealing too much. This keeps both users and vendors protected.

The marketplace also shows vendors’ average response times. This is helpful for buyers who want to make quick purchases.

Transaction Fees

Most people like LocalBitcoins because of its peer-to-peer trading system and its way of privately trading crypto between its users. For those who prefer to buy Bitcoin with card, the platform offers flexibility, though fees may vary. Furthermore, the exchange only charges a meager 1% fee for their services. However, depending on the vendor you choose to deal with, you might incur higher transaction fees.

Overall, LocalBitcoins is a great cryptocurrency exchange for anyone who is looking to start buying Bitcoin, as well as those who want to keep their transactions private.

How do you buy Bitcoin instantly from a cryptocurrency exchange?

There are plenty of different exchanges to choose from. Each has its own sign-up requirements and verification procedures. However, most exchanges have a similar process. Users need to create a profile, fund their account, and then access the marketplace to start buying Bitcoin.

To give you an idea of how buying Bitcoin works, we will use Coinbase as an example. Below, we’ll walk you through their sign-up and buying process.

The first step to buy Bitcoin through Coinbase is to visit their website and create an account using your email address.

Next, you will be asked to verify your account by providing your phone number. Coinbase will send you an SMS message with a verification code.

Enter the code following the prompts. This will verify your account.

Once confirmed, you will need to verify your personal identity by providing more information about yourself.

After the verification process is complete, link your account to a debit or credit card. Keep in mind that Coinbase no longer accepts credit card payments from users in the United States. However, US citizens can still use a debit card to make purchases.

Coinbase will then process your purchase, and you will receive your coins instantly. At this point, you can start trading your Bitcoin against other cryptocurrencies listed on the exchange. Alternatively, you can move your newly purchased coins to a hardware wallet for safekeeping.

Takeaway

Right now, the average rate for Bitcoin debit and credit card purchases is around 4% to 5%. While this might seem steep, this fee supports the exchange’s operations. It also helps provide you with the best possible service. The revenue from these fees goes towards improving security features to keep you safe.

A 4% or 5% transaction fee is a small price to pay considering the potential financial gains Bitcoin offers.

Using a direct bank transfer is usually the most economical way to buy cryptocurrency from any exchange. Still, it’s important to know all the payment options available for purchasing Bitcoin.

Now that you know how and where to buy Bitcoin with credit card instantly, it’s time to weigh your options. Make your first Bitcoin purchase confidently. We recommend using the exchanges mentioned in this guide. However, many other exchanges offer similar services.

The key is to be vigilant when choosing an exchange. Learn about their features before signing up.

Do you have experience using a credit or debit card to buy Bitcoin on any exchanges mentioned? If so, we’d love to hear from you. Drop us a message in the comment section below.