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How to Buy Bitcoin: Complete Guide to The Best Options in 2020

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If you are sitting on some fiat currency that you want to turn into Bitcoin, there are loads of options out there.

Thankfully, a lot of reputable and trusted exchange platforms are now available, like Binance, Coinbase and CoinMama. These exchanges allow for bitcoins to easily be purchased with credit or debit cards.

As time goes on, you will also find that your purchasing limits increase, for much larger orders ( in the thousands ) you will need to add your bank details and send a wire transfer.

Another thing to bear in mind when purchasing your bitcoin is the fees that the exchange will charge yon each transaction – make sure you look at what the charges will be and compare them across the exchanges we have listed below to be sure of getting the best deal with your bitcoin purchase.

In this post we have put together a list of the most reputable online exchanges for purchasing bitcoin using your debit or credit card. There are also crypto-only exchanges that could be a better fit for crypto traders. While it is relatively harder to transfer your fiat currency into cryptos, making the jump from one crypto exchange to another is simple.

The are numerous crypto exchanges out there will all offer something different to their clients. No matter what you want to do in the world of cryptocurrencies, this post will help you find the right tools for the job!

Top Picks to Buy Bitcoin With Cards or Bank

If you are sitting on some fiat currency that you want to turn into Bitcoin, there are loads of options out there. Make sure to consider a bank transfer as well, and they can be cheaper in some cases.

There are also restrictions on some countries when it comes to buying cryptos with credit and debt cards, so don’t walk away from an exchange you like before you make sure they won’t accept a bank transfer.

Coinbase: Our Top Pick & Easiest Method

Coinbase is the globe’s largest exchange platform. Currently, the platform is fully functional in the United States, Canada, Europe, the United Kingdom, Australia, and Singapore.

The platform allows users to instantly purchase bitcoins with a credit or debit card. You simply need to create an account on the platform, confirm some personal details, and log in.

Coinbase may be one of the best choices for people that live in the US, as they are up to date on all the tax laws that US citizens and residents need to follow. Some users were upset that Coinbase shared all its clients’ trading history with US tax authorities, but this is necessary for any company that wants to interact with the US financial system.

It is actually a benefit for people that have to follow US tax law, as the penalties that the US Internal Revenue Service can impose on late taxes are severe. Anyone who lives in the US and trades cryptos needs to be well-educated in their tax responsibilities.

Occasionally, Coinbase may prompt users to upload some form of government-issued identification – this can be in the form of Driving License, Passport etc. It is recommended to verify your account with as much ID as you can this then increase your purchase limits, allowing you to buy more bitcoin with credit or debit card.

As time goes on, you will also find that your purchasing limits increase, for much larger orders ( in the thousands ) you will need to add your bank details and send a wire transfer.

As time goes on, you will also find that your purchasing limits increase, for much larger orders ( in the thousands ) you will need to add your bank details and send a wire transfer.

Once the verification process is complete, users can navigate over to their profile and find an option to add payment methods to their account. Users can link their PayPal account, bank account, or debit/credit card. Keep in mind that purchases made directly through bank accounts take up to five days to get verified.

All the cryptocurrencies purchased through Coinbase are sent directly to your Coinbase wallet. The platform doesn’t charge any fees for the use of debit cards. However, it does charge a small fee of 3.7 percent per credit card transaction.

For further information, take a look at our full Coinbase review.

CoinMama

CoinMama is a large bitcoin brokerage that allows users to acquire coins with their debit or credit cards. It is based in Israel and has a global client base. The platform issues small fees for transactions. To make up for this, however, the limits for how many bitcoins a user can buy are much higher in comparison to Coinbase.

Users can acquire up to $5,000 of coins per day or up to $20,000 per month. All users need to do to use CoinMama is to set up an account, log in, and navigate to the profile page section to fill in personal information.

Following this, users will be introduced to a page that allows them to select how many bitcoins they would like to purchase, and once a fitting amount has been selected, users will be allowed to add their preferred payment methods and bitcoin addresses.

Coinmama Review

Users will also be required to verify their phone number and email address. CoinMama does not require most users to upload their government-issued ID. After completing the aforementioned steps and passing the verification process, users will be able to acquire bitcoins through CoinMama.

One of the things that sets CoinMama apart from other exchanges is its high purchase limits, and willingness to deal with just about anyone. It has very few restrictions on who can use the exchange, which is good news for people who don’t live in North America or the EU.

Coin Mama has a great looking platform that will allow its clients to trade in numerous major and minor cryptos. On the downside, it isn’t the cheapest exchange out there.

Some of the larger exchanges that allow the use of credit cards to purchase cryptos aren’t always going to be competitive with crypto only exchanges. Looking into your options for crypto-crypto trading could make sense if you plan on trading a lot.

Find out more in our full review.