How and Where to buy Bitcoin with a Credit Card?
With the Bitcoin value steadily on the rise after a substantial fall in November of 2017, many people are beginning to realize just how volatile the cryptocurrency market is. However, it’s far from being a deterrent, especially for those who buy Bitcoins in Canada.
Canada is one of the fastest-growing countries when it comes to cryptocurrency, but many people are only just beginning to discover how easy it is to make a transaction. In fact, as long as you’ve got a credit card or another payment method, you can almost immediately become an investor. By asking the simple question: what is Bitcoin? You’re already halfway there.
And, with the Bitcoin to CAD rate sitting at $10,522.01, there’s no time like the present to get your slice of the pie before it skyrockets any further.
Before we dive into the many websites you can buy, sell and trade your Bitcoin on with a credit card, it’s important to run through a few safety tips. These will help you keep as safe as possible when you’ve decided to use your credit card online and will surely allow you to invest with ease.
Credit card safety tips for buying Cryptocurrency online
1. Don’t purchase Bitcoins or any form of cryptocurrency from a public computer using your credit card. Publicnetworks are less safe, and there’s a risk of keylogger software being used to identify your credit card information.
2. Ensure your computer’s anti-virus and anti-spyware software is up-to-date. This reduces the risk of your credit card information falling into the wrong hands.
3. Check the Better Business Bureau if you’re unsure about a particular platform. We recommend choosing from our list of reputable Bitcoin exchanges below, but if you’re unsure, there’s no harm in checking their credentials on the Better Business Bureau.
4. Use a credit card rather than a debit card as it offers more protection against fraudulent charges.
5. Make sure the website you’re purchasing cryptocurrency from is secure. You can check this by looking in the browser bar to check for a little padlock icon. The site should also start with https://.
6. Check the charged amount with that of what is charged to your credit card. If you notice any inconsistencies, contact the Bitcoin website.
Overall, choosing to purchase Bitcoins with your credit card is safe, as long as you’re buying them from a reputable exchange, and one that’s listed below, such as CoinSquare. It also helps to choose one that’s based in Canada. This can give you peace of mind that if there are any problems, there will be no issues associated with contacting them directly.
Reputable cryptocurrency exchanges for credit card purchases
There are thousands of cryptocurrency and Bitcoin platforms online. Each specializes in a different cryptocurrency, and all vary when it comes to payment methods. We’ve included reputable platforms that enable you to purchase Bitcoin and other forms of cryptocurrency with a credit card.
CoinSquare is Canada’s leading cryptocurrency platform, and it’s also one of the most trusted. You can buy, sell and trade various forms of cryptocurrency, as well as precious metals such as gold and silver. Aside from being able to purchase them with a credit card, you can use Interac Online or e-transfer, Flexepin, bank draft, money order, wire transfer, or a direct bank deposit. The options are endless! CoinSquare also offers the lowest fees out of any other platform online.
We chose to include CoinBase because it’s used by almost 13 million people in 32 countries. However, if you wish to use a credit card to complete a transaction, you do need to be based in either the UK or in Europe. Your credit or debit card must also support 3D Secure. The benefits of using a credit card mean you don’t have to pre-fund your account to buy cryptocurrency, nor do you have to wait for a bank transfer to be completed.
CoinMama is popular with investors due to its ease of use, higher limits and copious payment options. There are small fees for transactions, but users can buy up to $5,000 per day, or $20,000 per month, worth of cryptocurrency. You can use your credit card, or you can pay for them with cash.
BitPanda is popular throughout the world and is known for its easy-to-use platform and convenience. By using BitPanda, you get a free Bitcoin wallet, you can pay with Visa, Mastercard, Soforttransfer and more, and you can sell Bitcoin instantly to your bank account.
Quadriga CX offers same-day funding and withdrawals, has advanced trading platforms for those looking to get more involved in the process, and is heavily secured. You can buy cryptocurrency with Interac Online or e-transfer, direct bank transfer, bank wire, bank draft, money order, voucher, Bitcoins or Ethereum. Once you decide to withdraw your funds, you can then receive it via PayPal, Virtual Visa, Visa, Mastercard, AMEX, direct bank transfer, express bank transfer, bank wire, cash delivery, Express Interac e-transfer, voucher, Bitcoin or Ethereum.
It’s quick, easy, secure, and has very low trading fees as well.