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5 Exchanges To Buy Cryptocurrency Using Credit Cards – Part 1

Many things have changed for cryptocurrency now and 2019 is likely to become the biggest year for it due to its increasing value. Though the increasing value of cryptocurrency has attracted buyers around the globe, the greatest problems faced by most of them is the way to buy the cryptocurrency. The different cryptocurrency exchanges accept different payment options to buy cryptocurrency and most exchanges have already started accepting credit cards. Buying cryptocurrency with credit cards is the solution to those customers who don’t want to go through a huge amount of hassle and inconvenience. The exchanges that accept credit cards have their own unique features, services or products, and transaction fees.

Mentioned below are 5 websites where you can use your credit cards for buying cryptocurrency:

1. Bitpanda

Bitpanda is one of the retail brokers for buying and selling cryptocurrency. 

PIxabay/vjkombajn

Austrian-based company Bitpanda was known as Coinimal GmbH founded in October 2014. The exchange is designed with the State-of-the-art security system and provides full wallet integration for all digital assets. Its founding members are Eric Demuth (CEO), Paul Klanschek (CEO) and Christian Trummer (CTO). It is one of the leading industries in KYC/AML. It enables its users to buy and sell cryptocurrency. Only European residents can buy cryptocurrency and other worldwide users can sell cryptocurrency on the platform.

Supported Cryptocurrencies

List of the cryptocurrencies supported by Bitpanda are Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Pantos (PAN), Bitcoin Cash (BCH), IOTA (MIOTA), Litecoin (LTC), Komodo (KMD), EOS.IO (EOS), Dash (DASH), OmiseGO (OMG), Augur (REP), Stellar (XLM), 0x (ZRX), NEM (XEM), ZCash (ZEC), Tezos (XTZ), Cardano (ADA), NEO (NEO) and Ethereum Classic (ETC).

Supported Fiat Currencies

Along with Euro (EUR), it supports Swiss franc (CHF), British Pound (GBP) and US Dollar (USD).

Supported Countries

Selling option and receiving payouts in Bitpanda are for worldwide users through Neteller, SEPA, Amazon.de and Skrill. European residents can only buy cryptocurrency on Bitpanda through Visa, Mastercard, SEPA, SOFORT, Neteller, Skrill, GIROPAY/EPS and Bitpanda To Go.

Payment Options

Bitpanda supports a wide range of payment options in order to make cryptocurrency trading an easy method in Europe and other countries. Some of the payment options supported by Bitpanda are Giropay, Skrill, Online Bank Transfer, SEPA, Visa, Mastercard, SOFORT transfer, EPS, Neteller, Bitpanda to go, Amazon.de Voucher, Euro Wallet and Bank Transfer.

Fees

Fees for buying and selling of cryptocurrency are mentioned in the offered prices of Bitpanda. Constant price updates can create confusion and in order to avoid such confusion, you should always refer to the exact amount of cryptocurrency or fiat currency mentioned on the order confirmation page. However, the buying fees and selling fees for Bitcoin are 1.49% and 1.29% respectively at the time of publishing. A user can sometimes be charged with cash advance fee by their credit card provider and this decision will depend upon the respective provider.

Services

  • Bitpanda App: Bitpanda app is available on Google Play Store.
  • Bitpanda Swap: It allows to swap one digital currency for another. There are no limits set up on the transaction size of swaps.
  • Bitpanda Plus: It is designed for those customers who are interested to increase their trade limits and also to trade with large volumes. Over-the-counter (OTC) services are also available for buying or selling over €1 million.
  • Bitpanda To Go: You can purchase codes worth 50€, 100€ and 500€. One code supports to all cryptocurrencies which means the codes can be redeemed into Bitcoin, Ethereum, Litecoin, IOTA, Ripple, Dash, Komodo, Bitcoin Cash and others within seconds.
  • Bitpanda Affiliate: You can send visitors to Bitpanda site through the affiliate link and if any of the visitors make a purchase, then you will earn 20% commission.

Features

  • Fast and Reliable Transactions: Bitpanda provides fast and reliable transactions as it is combined with a strong Application Programming Interface (API), a high-end server and a fully automated order system.
  • Create Price Alerts: You will be notified with price alerts related to rising and falling of cryptocurrencies through email.
  • Beginner Friendly: If you are new to Bitpanda, then you will be directed with the easiest and simplest steps. You just have to go to the ‘Help’ menu mentioned on the Top and click on the “Get Started” below the “New to Bitpanda.”

Security

Bitpanda uses security protocols like 2-factor authentication (2FA) and ID verification for credit card payments. The data is encrypted and authenticated by using AES_128_GCM and the connection uses Curve25519 ECDH called X25519 as the exchange mechanism. The exchange uses Distributed Denial-of-service (DDoS) that prevents attacks on the network and Secure Socket Layer (SSL) encryption in order to secure connections between web clients and the web server over the internet.

2. Coinbase

Coinbase enables its customers to buy, sell and store cryptocurrency.

Pixabay/WorldSpectrum

Coinbase is a cryptocurrency exchange which was founded by Brian Armstrong and Fred Ehrsam in June 2012. The exchange is located in San Francisco, California. It offers the customers to buy, sell and store cryptocurrency. The trading of Bitcoin through bank transfers was launched in October 2012. The trading of cryptocurrencies like Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic and Litecoin with fiat currencies are carried out in almost 32 countries, whereas Bitcoin transactions and storage in 190 countries around the globe. 

Supported Cryptocurrencies

There are 9 cryptocurrencies available on Coinbase viz., Basic Attention Token (BAT), Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), Litecoin (LTC), USD Coin (USDC), Zcash (ZEC) and 0x (ZRX).

Supported Fiat Currencies

The United States Dollar (USD), Euro (EUR) and Pound Sterling (GBP)

Supported Countries

Coinbase is available in 42 countries.

  • Asia: Singapore
  • Australia: Australia
  • North America: Canada and the United States
  • Europe:  Andorra,  Austria, Belgium,  Bulgaria,  Croatia, Cyprus,  Czech Republic,  Denmark,  Estonia,  Finland,  France, Gibraltar, Greece, Guernsey,  Hungary,  Iceland,  Ireland, Isle of Man,  Italy, Jersey,  Latvia,  Liechtenstein,  Lithuania, Luxembourg, Malta, Monaco,  Netherlands, Norway,  Poland,  Portugal, Romania,  San Marino, Slovakia, Slovenia, Spain, Sweden,  Switzerland and United Kingdom.

Payment Options

Credit/Debit Card and SEPA.

Fees

For buying and selling of cryptocurrency, Coinbase charges a 0.50% called a spread of about one-half of one percent. The actual spread either can be higher or lower due to market fluctuations.  There is a fee of 3.99% for purchasing Bitcoin with a credit/debit card.

Services

  • Mobile apps: Coinbase mobile app is available for Android or iOS.
  • Bitcoin Wallets: Bitcoin wallets store a collection of Bitcoin private keys. Some of the wallets provided by Coinbase are Web Wallets, Desktop Wallets, Mobile Wallets, Hardware Wallet, Paper Wallets and Brain Wallets.
  • Asset Management: After buying cryptocurrency, it becomes very important to manage it. In order to manage, you must stay informed with daily updates of the cryptocurrency market. Coinbase Index allows you to track the overall performance of all digital assets listed by Coinbase.

Security

The data is encrypted and authenticated by using AES_128_GCM and the connection uses ECDHE_RSE as the key exchange mechanism. A payment vendor in compliance with Payment Card Industry Data Security Standards (PCI DSS) transfer and secure credit card data and the information is not accessible to Coinbase Staff. All website traffics run completely over encrypted SSL (Secure Sockets Layer).

3. Bitit

Bitit enables its customers to buy cryptocurrency only.

Pixabay/WorldSpectrum

Bitit is a cryptocurrency exchange headquartered in Paris, France. The exchange was founded in 2015. Its three co-founders are Nicolas Katan (CEO), Ugo Mare (CTO) and Simon Potier (CIO). It is supported by three platforms such as The Family (a European group supporting entrepreneurs), the Luxembourg House of Financial Technology and EY (a global company). It enables its customers to buy cryptocurrency only and offers them Bitit Gift Cards which can be redeemed into Bitcoins.

Supported Cryptocurrencies

Bitcoin, Ethereum, Ripple (XRP), Stellar Lumens (XLM), EOS.IO (EOS), Litecoin (LTC), Cardano (ADA), TRON (TRX), Monero (XMR), Dash (DASH), Binance Coin (BNB), Ethereum Classic (ETC), Zcash (ZEC),  Bitcoin Gold, VeChain (VET), OmiseGO (OMG), 0x (ZRX), Qtum (QTUM), Basic Attention Token (BAT), Zilliqa (ZIL), Siacoin (SC), TrueUSD (TUSD), Bancor (BNT) and Civic (CVC).

Supported Fiat Currencies

Euro (EUR), US Dollar (USD), British Pound (GBP), Chinese Yuan Renminbi (CNY), Canadian Dollar (CAD), Swedish Krona (SEK), Norwegian krone (NOK), Danish krone (DKK), South Korean Won (KRW), Turkish Lira  (TRY), Singapore Dollar (SGD), Hong Kong Dollar (HKD), Japanese Yen (JPY), Australian Dollar (AUD) and South African Rand (ZAR)

Supported Countries

Albania, Algeria, Andorra, Argentina, Armenia, Australia,   Austria, Azerbaijan, Bahrain, Belgium, Benin, Brazil, Bulgaria, Burkina Faso, Cabo Verde, Cameroon, Canada, Chile, China, Colombia, Costa Rica, Croatia, Cyprus, Czechia, Côte d’Ivoire, Denmark, Ecuador, Egypt, Estonia, Finland, France, French Guiana, French Polynesia, Georgia, Germany, Ghana, Greece, Guadeloupe, Guernsey, Honduras, Hong Kong, Hungary, Iceland, Indonesia, Ireland, Isle of Man, Israel, Italy, Japan, Jersey, Kenya, Kuweit, South-Korea, Latvia, Lebanon, Liechtenstein, Lithuania, Luxembourg, Madagascar, Malaysia, Mali, Malta, Martinique, Mauritania, Mauritius, Mayotte, Mexico, Monaco, Mongolia, Montenegro, Morocco, Netherlands, New Caledonia, New Zealand, Nigeria, Norway, Paraguay, Peru, Philippines, Poland, Portugal, Puerto Rico, Romania, Réunion, Russia, Saint Martin (French part), Saudi Arabia, Senegal, Serbia, Singapore, Slovakia, Slovenia, South Africa, Spain, Sweden, Switzerland, Taiwan, Thailand, Tunisia, Turkey, Ukraine, United Arab Emirates, United Kingdom of Great Britain and Northern Ireland, United States of America, Uruguay, Viet Nam, Zimbabwe.

Payment Options

Visa, Mastercard, Maestro, Prepaid Cash Vouchers (Neosurf and Cashlib Vouchers) and SEPA.

Fees

  • Credit and Debit (Visa, MasterCard and Maestro): 6.9 % transaction fee, supported fiat currencies are EUR, DKK, USD, GBP, SEK, NOK, TRY, AUD, CAD, CNY, HKD, KRW, SGD and ZAR. Buying limits up to 1.500€/week.
  • Cash Voucher (Cashlib or Neosurf): 11.9 % transaction fee, supported fiat currency is Euro. Buying limits up to 2.500€/week.
  • Bitit Gift Card: 5.9 % transaction fee, supported fiat currency is Euro. Buying limits up to 2.500€/week.

Services

  • Bitcoin Gift Card: You can present Bitcoin Gift Card to your family and friends. The card can be bought from any of the Bitit partners like Ma Carte Cadeau, Avangarde and The Good Gift. It will be delivered to the recipient by post or mail. It needs to be redeemed in order to receive cryptocurrency. The recipient can redeem it either on Bitit.io or any other exchanges where redemption is possible. In order to redeem the card on Bitit.io, an account need to be created. Then, the recipient has to visit the ‘Buy’ page and select the desired coin. Add the amount (10€, 25€, 50€, 100€, 250€, 300€ and 500€ are the available Bitit gift card amounts) and then click on ‘Include fees’ button.
  • Wallets: Bitit doesn’t provide its own wallets, but it supports other wallets. There are different types of wallets supported by the exchange and its examples are Ripple Wallets (Ledger Nano S, Toastwallet and Gatehub), Litecoin Wallets (Exodus, Jaxx and Coinomi), Dash (DASH) Wallets (Electrum, Exodus and Jaxx), Binance Wallets (Ledger Nano S and Trust Wallet), TrueUSD (TUSD) (Ledger Nano S (with MyEtherWallet)), Zilliqa (ZIL) wallets (Ledger Nano S and Trust Wallet), Siacoin Wallets (SIA UI), Bitcoin Cash (Ledger Nano S, Bitcoin.com and Jaxx) and Zcash (ZEC) (Ledger Nano S, Exodus and Guarda).
  • Buy Near You: You can use the map provided by Bitit in order to find the nearest store. Go to the cashier and pay for Neosurf or Cashlib cash voucher. You need to add your voucher code in order to redeem the voucher into your desired coins.

Security

3 Domain Secure Authentication (3D Secure) and Two Factor Authentication (2FA) are the security methods used by Bitit.io. 3D secure is an XML-based protocol known as a security protocol. It is specially designed to prevent fraud when you make online purchases with your credit or debit cards. 2FA is also a security protocol which uses your mobile phone in order to verify your account with a one-time password (OTP). You just require Google Authenticator.

4. LocalBitcoins

LocalBitcoins is a peer-to-peer Bitcoin exchange where you can buy, sell and store cryptocurrency.

Pixabay/LocalBitcoins

LocalBitcoins is a peer-to-peer bitcoin exchange which was founded by Jeremias Kangas in June 2012. It is located in Helsinki, Finland. The platform is basically an escrow system and its service facilitates over-the-counter (OTC) trading of Bitcoin. The exchange has been generating revenue since 2013. It was having almost 110,000 active traders with a trading volume of 1,400–3,000 bitcoins per day at the end of 2013. As of 2018, it is one of the best financially performing companies in Finland arranged by Kauppalehti, which is the local specialized publication.

Supported Countries

LocalBitcoins is available in 248 countries around the globe.

Supported Fiat Cryptocurrencies

Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), Dash (DASH)

Supported Fiat Currencies

USD, PKR, PHP, PGK, PEN, PAB, OMR, NZD, NPR, NOK, NIO, NGN, NAD, MZN, MYR, MXN, MWK, MVR, MUR, MTL, MRU, MRO, MOP, MNT, MMK, MKD, MGA, MDL, MAD, LYD, LVL, LTL, LSL, LRD, LKR, LBP, LAK, KZT, KYD, KWD, KRW, KPW, KMF, KHR, KGS, KES, JPY, JOD, JMD, JEP, ISK, IRR, IQD, INR, IMP, ILS, IDR, HUF, HTG, HRK, HNL, HKD, GYD, GTQ, GNF, GMD, GIDAP, GHS, GGP, GEL, GBP, FKP, FJD, EUR, ETB, ERN, EGP, EEK, DZD,DOP, DKK, DJF, CZK, CVE, CUP, CUC, CRC, COP, CNY, CNH, CLP, CLF, CHF, CDF, CAD, BZD, BYR, BYN, BWP, BTN, BSD, BRL, BOB, BND, BMD, BIF, BHD, BGN, BDT, BBD, BAM, AZN, AWG, AUD, ARS, AOA, ANG, AMD, ALL, AFN, AED.

Services

  • ATM: No need of internet connection while accessing LocalBitcoins ATM. However, the exchanging takes place on the LocalBitcoins website. The ATM operates as a safe cash-box which makes it robust. It has 30-note recycler that enhances maintainability which makes its process robust. The operators make sure that there should be enough bitcoins to sell and empty the cash box when full along with enough notes in the ATM to withdraw. While withdrawing, the customers are likely to get the same notes deposited by other customers.
  • Affiliate: There is a 20% commission fee. You will receive your Payout in Bitcoin. Payout will be paid off on a daily basis and sent to your LocalBitcoins wallets.
  • API: LocalBitcoins API is made for those developers who want to create applications in order to interface with the exchange. Registering to LocalBitcoins account and visiting Apps Dashboard are required to create the authentication keys. The keys will enable HMAC which is the way to authenticate with the API.
  • Wallet: You can use LocalBitcoins wallet to store your Bitcoins. You can use other Bitcoin wallets too.

Payment Options

National bank transfer, SEPA (EU) bank transfer, Transfers with specific bank, International Wire (SWIFT), Other online payment, Cash deposit, EcoCash, Hal-cash, Swish, Vipps, MobilePay FI, QIWI, TELE2, IMPS Bank Transfer India, PayTM, Lydia, Interac e-transfer, Pingit, Paym, PYC, Alipay, Superflash, Chase Quickpay, OKPay, PayPal, WebMoney, Moneybookers/Skrill, Neteller, Western Union, PostePay, MoneyGram, Postal order, Cashier’s check, Venmo, Dwolla, Perfect Money, CashU, PaySafeCard, Payza, AstroPay, M-PESA Kenya (Safaricom), M-PESA Tanzania (Vodacom), BPAY Bill Payment, Gift Card Code, Gift Card Code (Global), Other Online Wallet, Other Online Wallet (Global), Other Remittance, Other Pre-Paid Debit Card, Google Wallet, Amazon Gift Card Code, Vanilla, Transferwise, PayPal My Cash, RIA Money Transfer, SolidTrustPay, Xoom, MobilePay, Telegramatic Order, Payeer, advcash, Apple Store Gift Card Code, NetSpend Reload Pack, hyperWALLET, Steam Gift Card Code, MobilePay NO, Tigo-Pesa Tanzania, Dash altcoin, Ripple altcoin, Payoneer, OneCard, Square Cash, Paxum, Cash at ATM, Litecoin altcoin, Credit card, Monero altcoin, WeChat, Relodit, Walmart 2 Walmart, Walmart Gift Card Code, Easypaisa, Serve2Serve, Worldremit,Ethereum altcoin, Ebay Gift Card Code, Starbucks Gift Card Code and Yandex Money.

Fees

There is no fee for buying and selling of cryptocurrency along with registration. Some LocalBitcoins users create advertisements and they will be charged with a fee of 1% for every completed trade. Transaction within LocalBitcoins wallets will charge no transaction fee, but the transaction with other Bitcoin wallets will charge the fee. If you use merchant invoicing services of LocalBitcoins, then you will be charged with a 0.5 % fee.

Security

User account is protected by two-factor authentication (2FA). You need to install Google Authenticator. Login guard will alert you when someone logs into your account from another computer or web browser. Make sure that your login guard is enabled. It runs a bounty program for security improvement which means if any internet security expert or researcher will report vulnerabilities related to security to LocalBitcoins, then he will be rewarded.

5. Bitstamp

Bitstamp enables its customers to buy and sell cryptocurrency.

Pexels/Worldspectrum

Bitstamp is a bitcoin exchange which was founded in August 2011 by Nejc Kodrič and Damijan Merlak. It is located in three countries viz., London, Luxembourg and Slovenia. The government of Luxembourgish given a license to Bitstamp in April 2016 so that the exchange works as a payment institution and provides its services to all 28 European member states. The New York Attorney General is the head of the Law Department of the state government surveyed 14 virtual exchanges in September 2018 and Bitstamp was one of the 10 exchanges who responded. The main purpose of the survey was to collect information in order to create greater transparency in business practices and security. You can buy and sell cryptocurrency in this platform.

Supported Fiat Currencies

USD and EURO

Supported Cryptocurrencies

Bitcoin (BTC), Ripple (XRP), Litecoin (LTC), Ethereum (ETH) and Bitcoin Cash (BCH).

Supported Countries

Switzerland, Norway, Monaco, Montenegro, Serbia, Turkey, Andorra, Moldova, Gibraltar, Iceland, Greenland, Liechtenstein, Isle of Man, Faroe Islands, Aland Islands, San Marino, Hong Kong, China, Singapore, Taiwan, South Korea, Australia, New Zealand, Japan, Argentina, Brazil, Israel, South Africa, Chile, Kuwait, Cayman Islands, Qatar, Saudi Arabia, India, Lebanon, Puerto Rico, Peru, Madagascar, Mozambique, Dominican Republic, Curacao, Dominica, Jordan, the Bahamas, Bahrain, French Polynesia, Ecuador, Trinidad and Tobago, Barbados, Reunion, Jamaica, Paraguay, Brunei, New Caledonia, Guadeloupe, Martinique and Sint Maarten.

Payment Options

SEPA bank transfers, Visa and Mastercard credit/debit cards.

Fees

  • International Wire

Deposit: The exchange charges a fee of 0.05% (minimum fee is 7.5 USD/EUR and the maximum fee is 300 USD/EUR.

Withdrawal: The exchange charges a fee of 0.09% (minimum fee is 15.00 USD/EUR and also an additional international bank fee can be charged.

  • SEPA

Deposit: A free of charge

Withdrawals: 0.90€ fee

  • Credit Card Purchase: 5% fee. You can be charged with an additional fee by the card issuer.

Services

  • Mobile App: Bitstamp mobile phone app is available for both iOS and Android.
  • Wallet: Bitstamp believes that storing a cryptocurrency through hardware wallets is the secure way as they are immune to malicious activities. Therefore, the exchange supports the wallets to store cryptocurrency offline. It enables the users of the wallets to deposit Bitcoin to their Bitstamp account in a simpler way. The wallets can be connected with other software in order to transfer cryptocurrency units easily. Both plugin and configuration of hardware wallets are must before proceeding.

Security

Two-factor authentication (2FA) is an extra layer of security used for Bitstamp accounts. It ensures that the user is the only person who is accessing its own account. When you log into the account, then you will be asked for your password and a 6-digit authentication code. An authentication app generates a new authentication code every 30 seconds. You need to install Google Authenticator and DUO.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]
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Shabnam Dhar is a Copy Editor for OWLT Market.

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