How to Buy Bitcoin with a Credit Card5-min read

The use of credit cards to purchase cryptocurrencies is frequently prohibited by card issuers, but Ulzheimer notes that you can always get around this restriction by requesting a cash advance from your card and using the money to make any purchases you like. To put it another way, you can fund your cryptocurrency account by requesting a cash advance loan from your creditor, and then utilize the money in your account to buy cryptocurrency.

Cryptocurrencies have become some of the most popular investments for tech-enthusiasts and Gen Zs. Not only can you buy Bitcoin through the use of bank transfers, brokerages now let you buy Bitcoin with credit cards in seconds. In this guide, we will learn about the various ways through which you can buy bitcoin with a credit card instantly and hassle-free. We have also listed the top sites from which you can buy bitcoin with credit cards along with tips to choose the best crypto trading platform to start your investment journey.

Where to Buy Bitcoin in India and Abroad – Best Bitcoin Brokers for March 2023

The following are your best go-to brokers if you want to start investing in Bitcoin. All of them are trustworthy and provide easy, reliable solutions for safe crypto purchases.

CEX.IO

CEX.IO is a cloud-based platform that allows users to buy and sell Bitcoin and other cryptocurrencies. CEX.IO operates as a cryptocurrency exchange, which means that it allows users to buy and sell cryptocurrencies. It also provides a wallet service, which allows users to store their cryptocurrencies in a secure environment. CEX.IO is one of the most popular cryptocurrency exchanges in the world and has been operating since 2013. It is headquartered in London and is regulated by the Financial Conduct Authority. The lowest spot trading commissions on the platform are regulated at 0.25%, and there are very few other expenses. More than 200 crypto marketplaces are available, and they are all accessible through its feature-rich mobile app. One of the most important features when it comes to buying Bitcoin with a credit card is good customer support services. In this regard, CEX.IO provides excellent customer service for its users.

Libertex

Even though Libertex had originally started out as a stock and forex trading platform, later expanding into commodities and ETFs, recently it launched its crypto portfolio, as well. Since then, Libertex has quickly become one of the most popular crypto trading platforms, especially for those new trading, given its unmatched user-friendly dashboard, easily allowing even the most novice investors to swiftly catch on.

Libertex also features some of the lowest possible fees on the market, with some trade commissions going as low as 0%. Users are not charged anything else, as it is entirely free to sign up for, only requiring a minimum of $10 or equivalent to start trading.

Libertex further incentivises new sign-ups by offering some spectacular prizes, including 500 Bitcoin from its famous recurring draw, or the chance to win a new Tesla, iPhone or many other prizes.

Binance

Binance is the largest crypto trading platform in the world. The website offers a vast range of trading options and capabilities although inexperienced investors do not find it user-friendly. Depending on their past experience and education, one might face a significant learning curve using Binance, but they do provide a simpler version (Binance Lite) that is far more user-friendly for beginner-level traders. Binance also offers features like two-factor authentication (2FA) SMS or Google Authenticator, device management customization, address whitelisting, options for restricting access from external devices, etc.

Users can get fee reductions through:
1. Binance (BNB) coin trading
2. Referral bonuses
3. Obtaining VIP status by transferring a specified quantity of assets

Paxful

Paxful is one of the most popular crypto-exchange that offers peer-to-peer transactions, especially in India. They also provide biometric security, more than 300 payment modes, low trading commissions and a 24/7 responsive system of support.

How to Buy Bitcoin with a Credit Card in India and Abroad

KYC and Verification

KYC (Know your Customer) verification is mandatory for creating your account or wallet on most of the popular platforms. Just provide any of your personal details (PAN, Aadhar, Voter ID, driver’s License) when asked and you are good to go. Once verified, you will have your account ready for trading bitcoin.

Buy Bitcoin with Credit Card on Binance

Simply follow these steps:

Step 1: Log into your Binance account, select [Buy Crypto], and then [Credit/Debit Card].

Step 2: Select INR and input the amount you want to buy. The system will immediately display the amount of cryptocurrency that you can purchase.

Step 3: Select [Add new card] and input your credit card information. Keep in mind that you may only buy using your own credit cards.

Step 4: Input your billing information and then select [Add Card].

Step 5: Verify your payment information and confirm your order.

A minute later, Binance will recalculate the price and the quantity of cryptocurrency you will receive. To get the most current market price, click [Refresh]. And you are done, enjoy your first crypto investment!

Buy Bitcoin with Credit Card on Libertex

The process is much easier for Libertex.

Navigate to the Payment Methods page after logging into your account.

Step 1: At the top of the screen, click [Add a Credit/Debit Card].

Step 2: Provide your credit card details (which should match your billing address)

Step 3: If necessary, enter a billing address for the card.

Step 4: You should now see a popup with the words [Credit Card Added] and the option to [Buy Digital Currency].

Step 5: You may now buy bitcoin or any crypto by visiting the [Buy/Sell Digital Currency] page.

Note: If your credit or debit card supports “3D Secure”, you can buy cryptocurrencies with it. Contact your credit/debit card issuer directly to find out if your card supports 3D Secure, or just try adding it to your Libertex account. If your card is not 3D Secure compatible, you will get an error warning.

Buy Bitcoin with Credit Card on Paxful

Paxful is based on distributed consensus (P2P) operationality. Buying bitcoin with credit card there would require you to find the right vendor.

Step 1: Login into your Paxful account

Step 2: Click [Buy] and then click on [Buy Bitcoin]. Input your amount, currency type and mode of payment as credit card in the sidebar widget.

Note: Filter [User Types] and choose the most trustworthy vendors/sellers as per your requirements.

Step 3: Click on [Buy], and now go through the vendor’s terms and conditions.

Step 4: If you agree with their conditions, input the amount of bitcoin you want to buy and select [Buy Now]. A live chat window will pop up where you can chat with the seller, follow any additional instructions and complete your trade and buy your BTC.

Benefits and Drawbacks of Using a Credit Card for Buying Bitcoin

Automated Bitcoin Trading: The Pros, Cons and How to Identify Legitimate Bitcoin Trading Bots

Automated trading is a method that uses computer algorithms to make investment decisions, eliminating the need for manual input from investors. Automated trading can help investors make more informed and profitable trading decisions by reducing emotional bias and increasing efficiency. Algorithmic trading systems can also offer several advantages, including increased speed and accuracy, and the ability to process large amounts of data quickly.

Algorithmic trading systems analyse market data using complex mathematical algorithms to identify trading opportunities. Once a trading opportunity is identified, the system will automatically execute the trade according to pre-set parameters, such as the size of the trade and the timing of the transaction. Automated trading systems can be used for a variety of financial instruments, including stocks, bonds, and derivatives.

While automated trading has many benefits, it also carries risks. System errors can occur, leading to incorrect trades and losses. Additionally, automated trading systems are vulnerable to market volatility, which can cause the system to execute trades that are not profitable. Therefore, it is important for investors to fully understand the risks and benefits of automated trading before implementing it in their investment strategy.

To identify legitimate Bitcoin trading bots, it is important to be cautious of illegitimate or fake software. There are numerous scams and fake copycats pretending to be legitimate brands due to the lack of regulation in the market. Therefore, it is important to read reviews and access automated trading bots from trusted sites to guarantee accessing the legitimate and official versions of these bots.

Our review process evaluates compliance with legal requirements, security of payment processing, deposit and withdrawal conditions, market prediction accuracy, customer support, user-friendliness, risk-mitigation triggers, and transparency to determine if the bot is worthy of recommendation. User-friendliness and transparency are also critical factors in our rating system. Bots that are easy to set up, receive regular notifications about budgets, returns, and future projections, and have automated risk-aversion parameters are assigned higher ratings.

After testing Bitcoin trading bots for six months, the following bots have been consistently reviewed as reliable by our team of crypto experts:

Choosing the Right Bitcoin Exchange for You

With every other day seeing the rise of new and innovative brokerages and exchange solutions, it might be difficult to pick between the lot. As a budding investor, you need to consider these few tips:

• Choose home-based exchanges if possible. That way, you can save up on foreign exchange costs.
• Always look out for KYC verifications. Exchanges requiring KYC compliance are preferably more reliable than non-compliant ones.
• Choose exchanges which provide multiple fund-adding options.
• Check professional review sites (such as ours) for reviews regarding the exchange fees and their level of transparency.
• Choose an exchange that provides a “price lock-in” feature. This fixates your payable amount even if the time of deposit gets delayed.
• Browse all over the internet and check for the reputation of the exchange. It is that one solid factor that provides assurance regarding the exchange’s legitimacy.

Vetting Our Recommended Brokers

Our P2P brokers are verified on a regular basis in order to present you with the greatest bitcoin purchasing options. We extensively examine the brokers we recommend by opening accounts with them, testing their withdrawal speeds and restrictions, reviewing their investment holdings, the payment methods they accept, and scrutinising their terms and conditions. Before making a deposit with any broker, a novice investor should always examine reputable review sites. This is particularly necessary given that the market has yet to be regulated by any standardised operating policies.

Investing Responsibly

Investment is not something that is done in a hurry. It requires serious dedication, time, periodic market monitoring and analysis. Know this for a fact that markets may decline at any moment. Therefore, you must always have a contingency plan ready. Don’t invest all of your money at once. Listen to others, but believe only after testing. For sure you can buy bitcoin with credit card, but we suggest you keep it as a secondary option and critically consider any other alternative.

Latest Updates

A recent report by Reuters suggested that both Mastercard and Visa had put a pause on their efforts to establish new partnerships related to cryptocurrencies, citing a series of bankruptcies in the industry as the reason for their caution. However, Visa was quick to deny the report, saying that they would continue to monitor the crypto industry and keep track of regulatory developments. A Visa spokesperson explained that the company’s job is to “support an array of ways to pay and to study new technologies that may impact the future of payments,” and they remain focused on growing their core competencies in Web3 infrastructure layers and evaluating blockchain protocols that drive crypto development.

Similarly, Mastercard also refuted the Reuters report, stating that they continue to work with their partners to bring relevant payment solutions and programs to the market. They emphasized that they are focused on the underlying blockchain technology and how it can help address current pain points and build more efficient systems for consumers and businesses. A Mastercard spokesperson added that the Reuters article was inaccurate and did not reflect the company’s activities and plans in the crypto space. This will certainly contribute to opening up new roads for Indians to buy Bitcoin with credit cards in a safer, easier and faster way.

Conclusion

Today we can buy bitcoin with credit cards. Tomorrow we might purchase brilliant thinkers are working around the clock to find, create, and build better solutions. With automated crypto trading, we may already be there. Stay informed about current investment trends. The Indian population is yet to fully understand and make use of crypto. Leverage this infancy and start investing today.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions.