The more commonly used way of buying Bitcoin is usually at an ATM but have you ever tried to buy Bitcoin Online with Credit Card? The process of using a credit card online to buy Bitcoin used to be quite difficult but thankfully that process has been looked at and made simpler. Buying Bitcoin with your credit card is just as simple as buying with a debit card or paying directly from your bank account, though it does come with a few extra restrictions. Most digital currency companies will happily accept your credit card.
Check With Your Credit Card Company Before Purchase
Finding a place to buy Bitcoin can require a bit of research to make sure you are getting the best value for your money. Before making a purchase though you will also want to make sure that your credit card company is actually willing to verify the purchase. Otherwise it won’t go through and you’ll end up with nothing. When it comes to credit cards, Visa and Mastercard both allow cryptocurrency purchases—at least for now. American Express also supports it, but limits you to $200 per day and just $1,000 per month. Chase also allows you to buy Bitcoin, though finding an exchange that takes that card might be difficult. It is better to make your checks before trying to purchase Bitcoin with your credit card company to avoid any disappointment.
Why buying Bitcoin online with your Credit Card is made easier
Here are some ways that being able to use your credit card to buy Bitcoin has been modified or simplified for your use:
- Low fees – There is a fee to purchase your Bitcoin anyway but there are some extra charges that will apply in addition to the rate provided at the checkout, these are very minimal though.
- Easy Verification – It is very much similar now to buying any other product or currencies from the internet so just add you card details as instructed. The payment process is pretty simple and it only takes a few steps
- Quick transactions – Transactions are now lightning-fast and they take between 10-30 minutes in regular circumstances.
Being Responsible When Purchasing Bitcoin With Credit Cards
Buying Bitcoin still feels a lot like gambling. The market for buying Bitcoin is so volatile. So, it’s important to invest only what you can afford to lose, and that’s especially true if you’re using a credit card. It might be tempting to spend more than you can afford and assume that you’ll make the money back as the price of Bitcoin skyrockets. But if the value of your Bitcoin doesn’t go up, or worse, if it drops, you could end up owing back a large sum of money you don’t have. The results could potentially be rewarding but it is so important that you purchase within your means and not try to catch yourself coming backwards with the value of Bitcoin fluctuating. Just be sure to buy invest in Bitcoin responsibly.