How to Buy Bitcoin with a Debit Card5-min read

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: 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.

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.

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 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 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.

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

Automated Bitcoin Trading

Automated 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:

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:

• Account creation and trading to learn about the UI of the platform.
• A complete assessment of the security of the platform by looking into its history
• Assessment of most complaints related to the platform.

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:

• The balance of a public address is visible to everyone: Investors must keep their private keys secret and know that a public address’s balance is visible to everyone.
• Keep the investment on pubic addresses: Investors must distribute their Bitcoin collection over multiple addresses by creating numerous public addresses. However, they must keep most of their assets in one public address that’s not directly connected to others.
• Transactions are not anonymous on blockchain: the blockchain is open about the transaction but keeps the user details under wraps – making the transactions confidential and not anonymous.

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

• It is a volatile crypto asset.
• Investors must be mindful of its volatility before investing.
• It is important to be careful while selecting a crypto exchange.
• Only invest after assessing the risk tolerance.

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