Finding flexible and convenient ways to transact is paramount. Understanding how to buy Bitcoin with a prepaid card can hugely streamline your investment process.
This guide will walk you through the ins and outs of purchasing Bitcoin and other cryptocurrencies using prepaid cards, including prepaid Visa and prepaid debit cards.
This is a popular option that bridges the gap between traditional banking and the digital currency world.
So, whether you’re wondering how to buy Bitcoin with a prepaid card or looking to buy Bitcoin with a prepaid Visa, this guide has got you covered. Let’s dive in and demystify the process of buying crypto with prepaid cards.
Off we go!
| Topic | Summary |
|---|---|
| 💳 Buy Bitcoin with a prepaid debit card | The article introduces three platforms where you can buy Bitcoin with a prepaid credit card: Kucoin P2P, Binance P2P, and ByBit P2P. |
| 🎁 What are prepaid cards? | Prepaid cards are often used as gifts and can be topped up with any amount of money. They can be used like regular debit or credit cards. Mastercard and Visa are common providers of these types of cards. |
| 🚀 Exchanges that allow buying crypto with prepaid cards (VISA or MasterCad) | The article lists exchanges that allow buying crypto with prepaid cards, including CEX, Kucoin P2P, and Paybis. |
| 🛡️ Is it safe to buy bitcoins using prepaid debit cards? | It’s safe to buy bitcoins through prepaid cards if you are using a trusted exchange. However, it’s recommended to move your bitcoins to a crypto wallet once you purchase them. |
| ❓ FAQs | The article ends with a FAQ section, mentioning that Coinbase does not allow prepaid cards as a payment method on their platform. |
What you'll learn 👉
Buy Bitcoin with a prepaid debit card
Let’s first have a quick look at the 3 best platforms where you can buy Bitcoin with a prepaid credit card after that, we will go through each of them in detail and some of their main competitors (like Paybis).
Kucoin P2P
No transaction limits
No minimum deposit
Safe and fast transactions
Binance P2P
Low fees (0% for takers and 0%-0.35% for makers)
More than 700 payment methods
ByBit P2P
Supports more than 350 payment methods
No fees for buyers or sellers
What are prepaid cards?
They are most commonly gifts for special occasions like your birthday, wedding or any other event. You can top them up with any amount of money you want and can use them just like a regular debit card or credit card. Mastercard and Visa are ubiquitous providers of these types of cards.
You can spend the money as you wish with prepaid cards, but they usually have lower limits on spending in comparison to regular cards. Most importantly, there are enough crypto exchanges that accept prepaid cards as a method of payment for bitcoins or other cryptocurrencies.
Also, prepaid cards have limits on amount (normally 1k for each or equivalent local currency or lower), thus limiting the crypto amount you could buy.
To add, some prepaid cards don’t do cross border transactions.
Finally, it’s good to test for a small amount BUT remember the high charges on these types of transactions.
Exchanges that allow buying crypto with prepaid cards (VISA or MasterCad)
CEX
Since its inception in 2013, CEX’s headquarters have been in the financial capital of the world, London. It’s one of the most affordable crypto exchanges, especially when making card payments. You can trade Bitcoins, Ethereum, Zcash, Stellar, Ripple, and 40+ other altcoins. The lower card fees are a magnet for crypto enthusiasts. Aside from that, Cex.io added other services like margin trading, staking as a service, crypto loans, mining, etc.
However, you can only operate using dollars, euros, ponds, and Rubbles. This implies you must pay additional fees for currency conversions. What are the advantages and drawbacks of Cex.io?
Here is a complete Cex.io review and guide on how to use it.
Kucoin P2P
Kucoin P2P is a rapidly growing marketplace that is gaining popularity among crypto users even though KuCoin is yet to put more emphasis on promoting and improving it.
KuCoin’s P2P marketplace allows users to purchase and sell cryptos, including BTC, ETH, LTC, and more. Just like other P2P exchanges, KuCoin P2P also accepts a wide variety of payment methods. Using fiat currencies like USD, EUR, GBP CAD, IDR, AUD, etc., customers can acquire crypto on the platform from other users. There are a bunch of payment options to choose from, including PayPal and Payoneer, as well as bank transfer and other options.
It works just like other P2P markets where the buyer places an order on the KuCoin P2P platform, and the seller’s crypto gets frozen temporarily by KuCoin. The buyer needs to send the fiat currencies to the seller’s chosen payment method, and once done, the crypto held will be released to the buyer’s KuCoin Main Account.
In order to use Kucoin P2P marketplace, you need to bind a phone number and do a KYC process.
Read our full KuCoin review here.
Paybis
If you are looking for a crypto exchange that is highly trusted and provides 24/7 customer support, Paybis is the answer. The other side of the coin is that the transaction fee on fiat transactions for certain currencies could be excessive when purchasing Bitcoin.
and ChangeNOW. But we recommend avoiding them as there are numerous reports of shady behavior, user reporting their funds disappearing or being charged egregiously high fees.
Is it safe to buy bitcoins using prepaid debit cards?
If you are using a trusted exchange to buy bitcoins through prepaid cards, you are safe. However, it would be best if you move your bitcoins to a crypto wallet once you purchase them.
Before you buy crypto with a prepaid card, remember that if you are using your debit card for convenience, the transaction might turn out to be expensive. Transferring a larger amount always requires a bank transfer as it costs no fees. Learn here how you can cash out a large amount of crypto for cheap.
Conclusion of how to buy crypto with prepaid card
You now have more than a few options where you can utilize your prepaid payment cards and get some bitcoins. The above options are a glimpse of what to expect and where to trade and sell, but other options also abound. The prepaid card option for buying cryptocurrency may not be the cheapest, but it gives you a chance to own that cryptocurrency you want.
It would be better to transfer your coins to your crypto wallet.
If you are in a country with limited payment options, using cards is the most convenient choice. On the other hand, you can save a lot if you register with a local exchange and fund your account through a bank transfer. So, if you have that prepaid card, it’s time to own some bitcoins!!
Check out this one: Zerion Wallet Review: Key Features, Supported Coins, Fees, Pros, Cons
FAQs
Read also:
- How to buy Bitcoin anonymously
- Can you buy a fraction of bitcoin? Is it worth buying a fraction of BTC?
- Buy Bitcoin with iTunes Gift Card
- Best Bitcoin Cashback & Rewards Apps [Earn Free Crypto]
- Zerion Wallet Review
Went to COINBASE site and this is what is stated under payment options:
Visa and MasterCard debit cards can be used to buy using Coinbase. We’re unable to support prepaid cards or other cards without an associated billing address.
Unfortunately they do not accept prepaid cards :{