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How to Buy Bitcoin with a Debit Card5-min read

Prateek Arora

Prateek Arora |  Updated on 19/3/2023

You can easily buy Bitcoin with a debit card and then convert the sum to fiat money. Originally, you wouldn’t be able to use a debit card for a variety of cryptocurrencies besides Bitcoin but in actuality, these days, many coins are eligible for crypto debit cards. If the card isn’t pre-paid, you’ll need to add cryptocurrency to a funding wallet before you can use it, or you’ll need to choose the cryptocurrency you want to use for transactions using the exchange’s app.

Where to Buy Bitcoin in India

Most eager initiates of the crypto ecosystem begin their journey into it by buying Bitcoin with a debit card. It’s generally their fastest way to get access to a cryptocurrency referred to as digital gold by the likes of Mark Cuban. Bitcoin has remained volatile, reaching below $20k in bear markets but, for some investors, this is the opportunity of a lifetime to buy a valuable asset on the cheap rather than a cause for concern. This article explains the overall process of how one can buy bitcoin with a debit card instantly.

Best Bitcoin Brokers for March 2023

Many cryptocurrency exchanges have taken an inclusive route, allowing first-time and veteran investors to buy bitcoin with a debit card. These following crypto brokers have received positive reviews from a number of reputable auditing sites, including Trustpilot, and have garnered quite some attention from Indian crypto investors.

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.

CEX.IO: Most Secure Exchange in the Market

CEX.IO is a Bitcoin exchange that allows users to buy and sell Bitcoins with a debit card. It is one of the most user-friendly exchanges available, and it offers a variety of payment options. CEX.IO is registered with the Financial Crimes Enforcement Network (FinCEN) and is compliant with all the regulations set forth by FinCEN. It also has a high level of security, with multiple layers of verification and two-factor authentication. On CEX.IO, trading fees are calculated using a user’s 30-day trading volume, which is updated each day at midnight (GMT). There is a 0.25% fee for taker trades and a 0.15% cost for maker trades for users who are new to the platform or have low trading activity. These costs could change, and they might be different for users who indulge in more trading. Overall, CEX.IO is a reliable and user-friendly Bitcoin exchange that is perfect for those who want to buy Bitcoins with a debit card.

 

CEX.IO

Libertex: Featuring the Lowest Fees on the Market

Libertex has originally started as a brokerage for stocks and forex, but has grown into offering commodities, ETFs and – as of late – cryptocurrencies. It has actually quickly become one of the world’s leading crypto exchanges due to its unmatched user-friendly dashboard, swiftly and easily allowing even the most novice investors to catch on in no time at all. Furthermore, it only requires a deposit of $10 or equivalent for one to start trading, whilst charging 0% commission on most trades.

The most attractive and alluring feature however – arguably for many new investors – consists of the many prizes and rewards up for grabs, including a 500 BTC draw for new Indian users, whilst also allowing runner-ups to win a new Tesla, iPhones and many other prizes.

Libertex logo

 

Binance: Overall, One of the Best Bitcoin Broker in India

Binance is the leading bitcoin broker in India, with over 90 million users and a USD 78 billion daily trading volume. It is also one of the best cryptocurrency exchanges for many of the 115 million Indian crypto investors. After it acquired WazirX, Binance became the first global cryptocurrency broker for Indian investors.

Binance logo

Binance is one of the best Bitcoin brokers in India regarding user accessibility. Buying Bitcoin is simple and the user interface is easy to understand. In addition to buying or selling bitcoin, investors can benefit from Bitcoin Flexible Savings. Here, the users can earn up to a 5% Annual Percentage Return on their Bitcoin holdings in their Binance portfolio.

Overall, Binance is the best bitcoin broker for Indian Bitcoin investors. It is secure, provides ample options and offers multiple technical indicators for those wanting to engage with spot trading.

Paxful: Best P2P Bitcoin Broker in India

Paxful is a peer-to-peer bitcoin marketplace. That is, unlike a traditional centralized exchange, Paxful is a platform that allows you to connect with the best Bitcoin sellers from whom you can buy Bitcoin through a debit card.

Paxful logo

Paxful offers a variety of payment methods for Indian investors, including IMPS transfer, Paytm Online wallet, Google Pay, Game Items, PhonePe, Airtel Money, and PayPal. Paxful first verifies all Bitcoin sellers before adding them to the list – making it suitable for investors with security concerns.

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

Here are the steps to buy Bitcoin through a debit card in India;

  1. Select the Bitcoin broker carefully
  2. Create a crypto account
  3. Search and select Bitcoin
  4. Enter the amount for which you want to buy Bitcoin
  5. Select Payment Method
  6. Confirm the order

The first step is to choose the Bitcoin broker. Interested parties must research and select a suitable cryptocurrency exchange. Afterward, the account creation process can begin. Once the investor has created the account, they can go to the search bar and choose Bitcoin. In the resulting dialogue box, the investor must enter the amount. The broker will then give them the option to select a payment method. They can choose a debit card and buy Bitcoin.

Bitcoin tokens

KYC and Verification

While cryptocurrency doesn’t have any legal protection, Bitcoin brokers have taken steps to ensure that all platform users are legit. The most important step in this process is KYC verification when signing up.

Users can upload any government-issued ID as a KYC document, such as an Aadhar card, Voter ID card, or PAN card.

Buy Bitcoin with Debit Card on Binance

Here are the steps to buy Bitcoin with a debit card on Binance;

  1. Log in to the Binance account.
  2. Click on the “Buy now” Button.
  3. Enter the fiat amount to exchange for Bitcoin.
  4. Press “Continue” and select “Visa/Mastercard” as the payment method.
  5. Enter card Information.
  6. Confirm order.

Buy Bitcoin with Debit Card on Libertex

Here are the steps to buy bitcoin with a debit card instantly on Libertex;

  1. Log in to the official account.
  2. Go to the user’s account.
  3. Navigate to the Payments Methods page.
  4. Add a credit/debit card.
  5. Go to the Buy/sell digital currency page.
  6. Enter the amount of fiat to exchange for bitcoin.
  7. Continue and select the payment method.
  8. Confirm the order.

Buy Bitcoin with Debit Card on Paxful

Finally, these are the steps to buy bitcoin with a debit card on Paxful;

  1. Log in to the official account.
  2. Click on the “buy” button.
  3. Select “Bitcoin” from the buy section.
  4. Enter the amount in “I want to spend.”
  5. Enter the location.
  6. Select among any of the offer tags.
  7. Click on find offers.
  8. Select the Bitcoin seller
  9. Buy Bitcoin with a debit card.

Benefits and Drawbacks of Using a Debit Card for Buying Bitcoin

Pros

  • list bullet

    It is inclusive and allows first-timers to buy Bitcoin easily.

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    The transaction can happen instantly.

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    It is a simple process.

Cons

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    The transaction costs can be high in some cases.

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    Transactions cannot be cancelled once started.

Automated Bitcoin Trading

automated Bitcoin trading botsAutomated trading is a method of trading that uses computer algorithms to make investment decisions, eliminating the need for manual input from investors. By reducing emotional bias and increasing efficiency, automated trading can help investors make more informed and profitable trading decisions. 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 work by using complex mathematical algorithms to analyze market data and 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.

Despite its benefits, automated trading does carry some 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. Most would argue however that during a bear market, Bitcoin trading bots might be the only way to turn any profit as these incrementally gather more wealth over time with each passing trade, all whilst improving their market-predictive abilities more accurately in the process.

 

How to Identify Legitimate Bitcoin Trading Bots

Automated trading software can be a helpful tool in executing trades, but it is important to be cautious of illegitimate or fake software. Unfortunately, due to the lack of regulation in the market, there are numerous scams and fake copycats pretending to be legitimate brands. These fraudulent websites often use deceitful techniques to divert users away from real brands, such as scraping content from legitimate sites or cloaking text for advantageous ranking purposes. 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.

To ensure the legitimacy of automated trading software, it is essential to thoroughly evaluate and test each bot. Review sites that carefully verify all robot traders on the market are necessary when there is yet to be any regulation in place. Our review process includes creating accounts for each bot, trading with them, withdrawing money, and evaluating compliance with terms and conditions, user safety, privacy, and other factors. Deposits are carried out over at least six months from multiple accounts to test bots on all features on a regular and recurring basis. Customer support teams are also evaluated for response time and addressing issues in a courteous and reliable manner.

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. It is also important to consider the security of payment processing methods, deposit and withdrawal conditions, market prediction accuracy, and trade speed and success rate. All of these factors help determine if the automated trading software is reliable.

In conclusion, it is crucial to be vigilant when selecting automated trading software due to the high number of scams and fake copycats in the market. Using trusted review sites and evaluating each Bitcoin trading bot thoroughly can help ensure that the software is legitimate and reliable. 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.

Best Bitcoin Trading Bots for March 2023

The following bots have been consistently reviewed as reliable by our team of crypto experts, testing them thoroughly over the course of six months:

 

 

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

In the burgeoning market of cryptocurrency, it’s essential for consumers to be able to trust the quality of service providers such as trading bots. With so many scams and bad actors present in the ecosystem, verifying and independently proving the reliability of these bots is crucial to protect consumers.

One type of trading bot that has gained popularity in the crypto space is arbitrage bots. These bots are designed to scan prices across exchanges and take advantage of discrepancies, executing precise strategies and making trades in milliseconds that humans cannot. Python-based arbitrage trading bots, in particular, have become increasingly sought after.

Among the top and most trustworthy bots are those listed by CoinBharat and verified by several independent auditors. These bots have been proven to be some of the best in the market, including Bitcoin Prime. With a claimed 90% win rate and no subscription requirement, Bitcoin Prime has become a popular choice for investors. Additionally, supported crypto CFDs by Bitcoin Prime stands at around 75 BTC CFD pairs, allowing investors to diversify and potentially generate significant profits.

By taking advantage of these automated trading tools, investors can reap exponential benefits while minimising their risks. In a constantly evolving market like cryptocurrency, it’s important to stay ahead of the curve and use reliable and trustworthy trading bots to stay competitive.

Choosing the Right Bitcoin Exchange for You

Here are the tips for selecting the right Bitcoin exchange

  1. Conduct thorough research into the broker beforehand
  2. Figure out if you want Bitcoin as a long-term or a short-term investment
  3. Understand the volatility of the market
  4. Pay attention to the transaction fees for buying Bitcoin with a debit card.
  5. Assess your expectations before investing in the crypto market.

Vetting Our Recommended Brokers

We implement the following strategies before recommending bitcoin brokers:

For those who want to learn more, our list of the best cryptocurrency trading platforms is available for reading.

What to Know About Bitcoins?

Before buying bitcoin, investors should know the following:

Invest Responsibly

Bitcoin is a volatile crypto asset. Currently, it is trading far lower than its 2021 bull market when its price surpassed $6700k. However, it has slowly started gaining ground and is steadily climbing above $21k. That said, investors must assess their risk tolerance and do their research before investing.

Latest Updates

A recent Reuters report suggested that Mastercard and Visa were pausing their efforts to establish new crypto-related partnerships due to bankruptcies in the industry. However, Visa denied the report and said it would continue to monitor the crypto industry and pay attention to regulatory developments. Visa’s spokesperson mentioned that the company is focused on growing its core competencies in Web3 infrastructure layers and evaluating the blockchain protocols driving crypto development.

Mastercard also refuted the Reuters report, stating that it was inaccurate and did not reflect their activities and plans in the crypto space. They continued to work with partners to bring relevant payments solutions and programs to the market.

According to Simon Schaber, the chief business development officer at SpoolDAO, partnering with crypto companies would benefit Mastercard as they could make a lot of money through transaction fees. When a customer uses a crypto debit card, a small transaction fee is taken out of the customer’s wallet and goes to Mastercard. These fees can be quite substantial, which explains why Mastercard is eager to partner with crypto companies.

Conclusion

Bitcoin is a volatile cryptocurrency but still is considered to be digital gold. It has led many early investors to attain incredible wealth over the last few years. However, investors must be careful while investing. They must wisely select their crypto exchange before buying Bitcoin and only support based on risk tolerance. Buying Bitcoin with a debit card is an option. However, investors must be careful about transaction fees.

Key Takeaways

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.