Do you know that Bitcoin is gaining a lot of popularity these days? Yes, it is true. It is being used as an alternative to traditional currencies and has become a popular form of investment. However, most people do not know the process of buying bitcoin. Don’t worry; if you are not aware, this guide will help you.
But have you ever thought of buying Bitcoin with a debit card? Is that even possible? The answer is yes; buying Bitcoin with a debit card is possible. In this guide, we will show you how it is
But first, let’s take a quick look at what Bitcoin is all about.
What is Bitcoin?
Bitcoin( BTC) is a digital currency started in 2009. It is a decentralized currency, which means that any government or financial institution does not control it.
Bitcoin transactions are made between users directly, without an intermediary like a bank or credit card company, and network nodes verify the transactions through cryptography. The system is created in a way that new Bitcoin are created at a fixed rate. As long as more people use Bitcoin, more bitcoin will be created.
Now that you know what Bitcoin is let’s move on to how to buy BTC with debit card.
- Create your account: To buy Bitcoin, you first have to create an account with the exchange you want to use. There are numerous exchanges available, and each one will be slightly different from the others, but in general, they are fairly simple to use. Once you have created your account, it’s time to deposit some money into your account so that you can start trading for Bitcoin or other cryptocurrencies.
- Select the coin you want to buy: There are many cryptocurrencies available for trade in the market, so it’s your choice what coin you want. In addition, you also have to make sure that the coin you want to buy has a good reputation and is secure enough for trading purposes.
- Add the address: Once you have selected which coin or tokens you want to buy, click on the address and enter your basic information. This information is required for verification purposes and will not be shared with any third parties. Furthermore, the system will use it to find the best exchange rate for your transaction.
- Select your payment method: The next step is to select the payment method you would like to use to purchase your cryptocurrency. You can choose from traditional methods such as credit cards, debit cards, and more, or you can use other methods like wire transfers or even gift cards.
- Pick up your debit card, and enter the details: Now, it’s the time to connect your debit card. You have to enter your debit card details to proceed. Once you’ve entered all the details, click ‘Buy Bitcoin’ and enter your payment information. Your account will then be credited with bitcoin. Also, don’t worry; your card information will be kept safe since it’s encrypted.
- Your account is now credited with bitcoin: Now, you are ready to go. Your account is now credited with Bitcoin. You can withdraw this amount to your digital wallet or transfer it to another exchange for trading. You can also sell your Bitcoin at the current market price and gain profit from it.
So, that’s the complete process. What are you waiting for? If you’ve got a debit card and are looking for a way to make some extra cash by buying bitcoin, there’s no need to go through any of the hassles. Just follow these six simple steps mentioned above, and you’ll be on your way in no time!