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How to Buy Bitcoin with a Credit Card5-min read

Sayan Chakraborty

Sayan Chakraborty |  Updated on 19/3/2023

CEX.IO Review

CEX.IO Review

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Pros

  • list bullet Very low fees, highest spot trading commissions capped at 0.25%
  • list bullet Very easy-to-use and user-friendly dashboard, one of the best UX scores on the market
  • list bullet Over 200 crypto markets to choose from, all accessible from their comprehensive mobile app too

Cons

  • list bullet Different fees for different payment methds
  • list bullet Some features are exclusive to US customers
Libertex Review

Libertex Review

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Pros

  • list bullet 0% fees on stock trades, minimum deposit of only $10 or equivalent
  • list bullet Over 322 tradable assets available
  • list bullet Unmatched user-friendly interface, easy for beginners to catch on

Cons

  • list bullet Unavailable in some countries, including the United States
  • list bullet Only features two types of accounts (Demo and Standard)
Binance Review

Binance Review

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Pros

  • list bullet Advanced charting with a variety of choices for overlays and indicators.
  • list bullet Has the option to use Binance Lite which is very useful for beginners.
  • list bullet Low fees and one of the most reputable crypto brokers.

Cons

  • list bullet Digital wallet is third-party software.
  • list bullet UI can be most suited for professionals and may be complex at first glance.
  • list bullet Strict account verification.
Paxful Review

Paxful Review

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Pros

  • list bullet Paxful offers biometric authentication and verification.
  • list bullet Has more than 300 plus payment modes with fixed trading fees.
  • list bullet Quick and speedy support system.

Cons

  • list bullet This digital currency exchange ID's not regulated. Might be liable to seller scams.
  • list bullet Higher trading fees as compared to other exchanges.
  • list bullet Only has 3 cryptocurrency options.

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.

 

CEX.IO

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.

Libertex logo

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.

Binance logo

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.

Paxful logo

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.

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

Pros

  • list bullet

    You get to invest without touching your balance at the bank

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    You get to invest even if you don’t have any money in your account!

Cons

  • list bullet

    Usually high rates of interest from your banks' side

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    Increased interest and exchange fee levy due to foreign exchange

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    Impact on your credit score

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    Risk of going into debt or bankruptcy

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:

Bitcoin Revolution Review

Bitcoin Revolution Review

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Pros

  • list bullet Claims to yield daily profits of up to 60%
  • list bullet Advertises leverage of up to 5,000:1 for trading CFD pairs involving cryptocurrencies
  • list bullet Handles multiple trades simultaneously

Cons

  • list bullet Takes a 2% commission on withdrawal but ONLY on earnings generated from its automated trading (no other fees)
Quantum AI Review

Quantum AI Review

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Pros

  • list bullet Users can automate their stock, forex and commodities trading
  • list bullet Features integrated Data Analysis and Risk Assessment tools in order to avert high-risk trades.
  • list bullet Easy to navigate with a wide array of trading preferences its users can automate.

Cons

  • list bullet As it is mostly known for forex and stock trading, Quantum AI is limited to only three cryptocurrencies - Bitcoin, Bitcoin Cash and Ethereum.
Bitcoin Code Review

Bitcoin Code Review

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Pros

  • list bullet Registration and verification on Bitcoin Code is relatively quicker.
  • list bullet It offers a fast execution speed of 0.01 seconds and a 99.4% claimed success rate.
  • list bullet Supports instant withdrawals with zero fees, no trading fees or commissions. Pay only on profit.

Cons

  • list bullet Trading bot does not offer a mobile application.
  • list bullet It requires a minimum deposit of $250 to start using its services.
Bitcoin Prime Review

Bitcoin Prime Review

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Pros

  • list bullet Higher success rate which translates into more potential profit across 14 different crypto markets.
  • list bullet User-friendly UI whilst also providing a demo version.
  • list bullet No hidden cost and a 24/5 support system combined with easy withdrawals.

Cons

  • list bullet Requires a minimum of $250 investment to start trading.
  • list bullet May present a difficult learning curve for newbies.
BitQT Review

BitQT Review

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Pros

  • list bullet Offers stock, commodity, CFD and crypto trading (Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ripple and many more)
  • list bullet Renowned for its easy-to-use demo platform, allowing users to fully familiarise themselves with trading
  • list bullet BitQT offers up to 1000x leverage, allowing even beginners with small deposits to bet big on the market

Cons

  • list bullet Requires a minimum deposit of $250 or equivalent to activate your automated trading account
  • list bullet Analytics section could be improved to match the UI improvements of newer robot traders
Cryptosoft Review

Cryptosoft Review

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Pros

  • list bullet 24/7 Support team and complete transperancy with all trades carried out by the bot in
  • list bullet One of the few bots to carry out trades in LItecoin, Monero, Bitcoin Cash, Libra and EOS, maximising profits from altcoins
  • list bullet Trading across a wide array of crypto markets to generate incrementally greater returns over the long-term

Cons

  • list bullet Requires a minimum deposit of $250 or equivalent
  • list bullet Does not have a separate mobile app
Immediate Edge Review

Immediate Edge Review

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Pros

  • list bullet The platform offers a free demo account for its users.
  • list bullet Users can automated their trading preferences with just a few simple clicks.
  • list bullet Immediate Edge has a support team that is available 24/7 to serve its customers.

Cons

  • list bullet The only traded cryptocurrency on the platform is Bitcoin.
  • list bullet Only provides specific traders on the platform.
  • list bullet Does not have an app.
Oil Profit Review

Oil Profit Review

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Pros

  • list bullet The most profitable oil trading bot on the market and one of the easiest to use for those new to stock trading.
  • list bullet Features a great demo account that quickly teaches those new to trading everything they need to know about oil and stock investments.
  • list bullet Make profits in times of economic volatility and gain real-time updates on all market developments.

Cons

  • list bullet Oil is a commodity that many are turning away from, given the ongoing climate emergency.
  • list bullet A minimum deposit of $250 or equivalent is required to automate your oil trades.
TeslaCoin Review

TeslaCoin Review

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Pros

  • list bullet Easy to navigate even for the complete beginners
  • list bullet No platform fees and fast, near-instant withdrawal times
  • list bullet One of the most comprehensive demo accounts

Cons

  • list bullet A minimal initial investment of $250
  • list bullet Users need to install the software after registration

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:

Buy Bitcoin with a credit card

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.

FAQs

How to buy Bitcoin in India?

Bitcoin is available in India at many cryptocurrency exchanges. You can create an account, select bitcoin, choose the payment method, and complete the transaction to buy bitcoin.

Where to buy Bitcoin in India?

There are multiple bitcoin brokers active in India from whom you can buy Bitcoin,

What can I buy with Bitcoin in India?

You can exchange bitcoin for other cryptos or use it to pay retailers that accept bitcoin payments.

Can I use my debit card to buy bitcoin?

Yes, you can use a debit card to buy Bitcoin.

What are the best exchanges to buy Bitcoin from?

According to our list, the best exchanges to buy bitcoin from are Binance, Libertex, and Paxful.

Is Bitcoin safe?

Bitcoin is a volatile asset, and investors must be aware of it before investing.

Should I buy Bitcoin now?

Bitcoin is currently trading around a low $20k, which makes it a good time to buy the dip.

What are the pros of buying Bitcoin?

The biggest pro of buying Bitcoin is access to the upper echelon of the crypto market.

Is Bitcoin a good investment?

Bitcoin is a crypto asset and, thus, is a volatile investment. Therefore, research before investing to decide if it is a good investment.

How to buy Bitcoin online?

Bitcoin can be bought online via multiple bitcoin brokers.

When is the right time to buy Bitcoin?

The right time to buy bitcoin is when it is trending at levels that make experts speculate that the bottom is in.