Bitcoin Guides

How To Buy Bitcoins With A Credit Card

A few years ago, you would really struggle to buy bitcoins using a credit card, today however, it couldn’t be easier, you just need to know where to buy them. Your best option is to use an exchange, a website where you can trade (exchange) one currency for another.

For example, you can buy Bitcoin with U.S. Dollars on a cryptocurrency exchange much like you can exchange USD for Euros on a foreign currency exchange. Many exchanges also allow you to trade for other forms of virtual currency, like Ethereum, Bitcoin Cash, Litecoin, Ripple, and Dash.

On many exchanges, you can place a market order at the current exchange rate or set up orders to buy and sell Bitcoins when the market rate hits a certain price, so you know you are purchasing them at the price that you want.

Once you buy Bitcoin, you need to keep them in a Bitcoin wallet. Each wallet has a Bitcoin address so that you and other people can send Bitcoin to the wallet. Some exchanges act like a regular bank for your cryptocurrency. After you have made a purchase, you can keep it in an account directly on the exchange.

If you would rather have your own Bitcoin wallet, there are many different types you can create. They can be stored on a smartphone, on a PC or laptop, online, or physically on a piece of paper or as cold storage. Each come with their own benefits, so it is worth doing some research before picking a wallet.

There are many Bitcoin exchanges around the world where you can buy Bitcoin instantly, but not all of them allow you to buy Bitcoin with American dollars. Then those that do many not allow you to use a credit or debit card to make the purchase. Some will let you connect a bank account with ACH to transfer money, fund your purchase with a wire transfer, or pay with PayPal for a lower fee.

Another thing to keep in mind is the fees that will be charge for each transaction. Make you that you compare the fees of different exchanges to make sure that you are getting the best deal.

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