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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.
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.
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 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.
Admiral Markets is a reputable crypto, Forex, and CFD trading platform that offers users the ability to trade Bitcoin and other cryptocurrencies using a debit card. The platform allows for seamless integration of debit card payments into the trading process, making it easy for users to purchase Bitcoin and other digital currencies. Admiral Markets supports a range of debit card types, including Visa, Mastercard, and Maestro, making it accessible to a wide range of users.
One of the key advantages of using Admiral Markets to buy Bitcoin with a debit card is its low fees. Admiral Markets charges a small fee for processing debit card transactions, which is typically lower than fees charged by other platforms. Furthermore, Admiral Markets offers competitive spreads starting from 0.1 pips, ensuring that users get the best value for their trades.
Admiral Markets also provides its users with a range of analytical tools and educational resources to help them make informed trading decisions. The platform offers access to market analysis, trading signals, and a range of technical indicators to help users analyze market trends and develop effective trading strategies. Additionally, Admiral Markets offers a range of educational resources, including webinars and tutorials, to help users improve their trading skills and stay up-to-date with the latest market trends.
In summary, Admiral Markets is a reliable and cost-effective platform for buying Bitcoin with a debit card. The platform offers low fees and competitive spreads, as well as access to a range of analytical tools and educational resources. With its user-friendly interface and robust trading infrastructure, Admiral Markets is an excellent choice for both novice and experienced traders looking to invest in Bitcoin and other cryptocurrencies.
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 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.
Here are the steps to buy Bitcoin through a debit card in India;
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.
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.
Here are the steps to buy Bitcoin with a debit card on Binance;
Here are the steps to buy bitcoin with a debit card instantly on Libertex;
It is inclusive and allows first-timers to buy Bitcoin easily.
The transaction can happen instantly.
It is a simple process.
The transaction costs can be high in some cases.
Transactions cannot be cancelled once started.
Here are the tips for selecting the right Bitcoin exchange
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.
Before buying bitcoin, investors should know the following:
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.
Block, a financial services and technology company owned by former Twitter CEO Jack Dorsey, has developed a new Bitcoin (BTC) mining chip. The new five-nanometre (5nm) chip aims to decentralize the supply of BTC mining rigs and overcome the excessive concentration of custom BTC mining silicon in the hands of a select few companies.
In a recent blog post, the San Francisco-based company explained that BTC mining application-specific integrated circuits (ASICs) are technically and financially challenging to develop. To tackle this issue, Block plans to make BTC mining technology open source by selling standalone ASICs and other hardware components to encourage innovation and maximize the size of the BTC mining hardware ecosystem. In a bid to accelerate development, Block has purchased a large batch of ASIC chips from Intel. The new proprietary 3nm chip, which Block claims will be the most advanced chip to date, is currently in the works.
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.
Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions.
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.
There are multiple bitcoin brokers active in India from whom you can buy Bitcoin,
You can exchange bitcoin for other cryptos or use it to pay retailers that accept bitcoin payments.
Yes, you can use a debit card to buy Bitcoin.
According to our list, the best exchanges to buy bitcoin from are Binance, Libertex, Admiral Markets, and Libertex.
Bitcoin is a volatile asset, and investors must be aware of it before investing.
Bitcoin is currently trading around a low $20k, which makes it a good time to buy the dip.
The biggest pro of buying Bitcoin is access to the upper echelon of the crypto market.
Bitcoin is a crypto asset and, thus, is a volatile investment. Therefore, research before investing to decide if it is a good investment.
Bitcoin can be bought online via multiple bitcoin brokers.
The right time to buy bitcoin is when it is trending at levels that make experts speculate that the bottom is in.