Crypto assets are at risk of losing substantial value within a short time period. If you buy crypto in the wallet, there are 50+ cryptocurrencies you can buy. There are some restrictions when exchanging fiat money for cryptocurrency. You may be asked to provide some information about yourself — that is our payment provider’s requirement. That is even easier, as you won’t need to look for the wallet address — we will fill in that for you. Enter the sum You may be asked to provide some information about yourself — that is our payment provider’s requirement.
Select the fiat currency you want to use and pick the cryptocurrency you want to purchase. For the purposes of this guide, we’ll be buying $100 worth of Bitcoin with the US dollar. For Moonpay, purchase limits depend on the level of account verification.
Cards has become mainstream in the modern digital world, Mastercard also joined the band of crypto enthusiasts. In 2021, they announced the support of selected digital currencies within their network. That means you can use Mastercard debit, credit, and prepaid cards on CEX.IO to deposit funds and purchase crypto.
What Crypto Platforms Accept Prepaid Cards?
There are several cryptocurrency exchanges that support using a prepaid card to buy Bitcoin safely in a few simple steps. Paxful is an example of a trading platform that lets users use prepaid cards to buy Bitcoin. Prepaid cards, otherwise known as everyday cards, are similar to debit and credit cards, however, the difference is prepaid cards do not rely on a bank or financial institution. Cardholders can load the prepaid card with cash, purchase Bitcoin and add funds when it’s running low on money. Coinmama is a cryptocurrency exchange platform that was launched in Israel in 2013, and nowadays, it operates in 200 countries of the world and most of the states of the US. The exchange supports ten cryptocurrencies, and when you purchase them, they are sent directly to your personal wallet.
Prepaid cards are accepted nearly everywhere as debit or credit cards since major card networks (e.g. Mastercard or American Express) often back them. The robust relationships with banks and payment providers make it possible to enable multiple payment options for our customers. Everyone can find the method that suits their preferences and is available in their country of residence. To start buying and selling cryptocurrencies on CEX.IO, you need to register an account first. You’ll need to confirm it with a special code or link sent during the registration.
After confirming the purchase, the Bitcoin appears on the CEX.IO account. Simply add a prepaid card as a payment option, verify it, and the app can be used to buy Bitcoin. Enter the dollar amount of Bitcoin to buy and the purchase will reflect in BTC wallet. You can buy crypto with a prepaid card by depositing funds from your card into a licensed third-party crypto trading platform. There are multiple ways to increase your capital with help of cryptocurrencies. For instance, you can study fundamental and technical analysis, practice trading on a regular basis and build up your own trading strategy.
Bitcoin and other virtual currencies are considered taxable assets in the United States. So, when you make a profit on price movements and gain capital, you need to inform the appropriate body about your capital gain and pay the applied taxes. All in all, here is what you need to consider if you want to buy bitcoin with a prepaid card. Just search Bitcoin, put in the amount of bitcoin you want to buy, and hit buy. Most exchanges will let users buy a fraction of the current value of bitcoin. Some platforms have a specific amount users must deposit to start trading while others have no set minimum.
This service gives the buyer several options regarding their preferred mode of payment, and buying crypto with a prepaid card is one of the available options. Launched in 2007,eTorodeveloped a crypto exchange that is perfect for buying Bitcoin with a prepaid card. Creating an account is an easy and quick process, as all users have to do is enter personal information and a copy of their ID. The number of Bitcoin users who want to buy Bitcoins with their prepaid cards has increased. This has led to a surge in the number of services that let one buy BTC with a prepaid card.
How to Buy Bitcoin With Prepaid Card
Paxful supports the purchase of Bitcoin with a prepaid debit card. Start by registering an account, which automatically comes with a Bitcoin wallet at no cost. Choose a prepaid debit card as the payment option and browse the available offers from other vendors. Users need to verify their identity before completing a purchase successfully. Coinmama provides an intuitive and user-friendly trade experience but the crypto options are quite limited.
You can withdraw your acquired Bitcoin to either a software/online cryptocurrency wallet or an offline/hardware cryptocurrency wallet. However, you want to be sure that you don’t need your Bitcoin elsewhere as eToro doesn’t support the withdrawal of cryptocurrencies. There is no guarantee that any crypto asset will have at any time in the future certain value or market liquidity.
How to Buy Bitcoin With Prepaid Cards
The platform gained popularity with its MCO Visa Card, powered by an MCO token which was released through the ICO in 2017. Before you begin the verification process, ensure you have all the necessary documents, such as a government-issued ID and proof of residence . The required documents may vary depending on the exchange, so check their website for specific information. Read on to discover all you need to know about how to buy Bitcoin with a prepaid card.
EToro claims to charge a 1% commission on all cryptocurrency trades and no commission on stock trades. Buying Bitcoin through a crypto exchange will require depositing some funds into the account you have just created. The funds deposited should be equivalent to the amount of Bitcoin that you intend to purchase. Before using the wallet, you should ensure that yourinternet connectionis fast and stable before using your wallet so that you do not have any trouble. The card has a set balance, or you can add money and use it to make purchases until it is depleted. Once the money runs out, you need to reload the card before making any more purchases.
If you are using the web wallet or mobile multicurrency wallet, you’ll be able to choose between Simplex and Moonpay as your payment providers. On Coinmama, you can deposit money when you want to buy a currency. Choose the desired currency, click “Buy,” and choose the debit/credit card option.
To learn more about using a prepaid card on eToro, read the full review on eToro. This article will explain how to buy Bitcoin with a prepaid card and what exchanges support such purchases. Currently, CEX.IO doesn’t support gift cards for deposits and withdrawals, as they’re not connected to the banking system.
The truth is that many banks avoid or even ban all operations connected with digital assets due to a perceived threat to the traditional banking system. Some governments require us to obtain special licenses for crypto platforms to be able to provide services for their citizens. Due to these requirements, we need to identify our customers and guarantee top-level security for their funds and data. Finally, you’ll be presented with a confirmation window that displays your order’s details, including the fiat total, the among of transaction fees, and the exchange rate. In this article, we will explain how to buy Bitcoin with a prepaid card, step-by-step, so you can start investing in the world’s largest digital asset with ease.
With all this set, users can go to the Buy/Sell page and choose a currency in the Buy drop-down list. There are typically four boxes with the most popular amounts of digital assets customers buy. Enter the amount and the fiat equivalent is calculated to deposit with a prepaid card.