Are you planning to invest in cryptocurrency? If the answer is yes, then you are in the right place. Cryptocurrencies have been around for almost 11 years now. In this guide, we will look at how to buy bitcoin with a credit card. We will also share tips to consider when investing in crypto coins.
History of Cryptocurrencies
As mentioned earlier, Bitcoin was the first crypto coin, and it was launched back in 2009. It was developed by a guy known as Satoshi Nakamoto alongside a team of other blockchain developers. Crypto coins are digital currencies, and unlike fiat currencies, they are decentralized.
The idea behind developing crypto coins was to give people control over their money and assets. Back in 2009-2011, it was pretty challenging to make an instant crypto purchase. However, the situation has changed these days. There are plenty of platforms where you can swap coins or buy bitcoin through a credit card.
Buy Bitcoin with Credit Card: Exchange Accounts
Exchange accounts are websites that allow users to sign up for accounts, add a payment option, and start buying bitcoins or any other altcoins. There are plenty of exchange websites on the internet today. Some of the most common ones are Nakitcoins, Binance, and Coinbase.
Before you can make an instant crypto purchase, you need to sign up for an account. You will only require an email address and a password and you’re good to go. After that, you can add your mode of payment. For example, most exchange accounts allow you to buy bitcoin visa mastercard or a credit card.
Some accounts may need you to verify your profile before you can buy any coins. However, if you’re using NakitCoins, you only need to verify your identity when completing transactions. As a result, the transaction fees are pretty low and manageable.
P2P platforms also allow you to make an instant crypto purchase. Similar to exchange accounts, you will need to register for an account. You will typically find plenty of merchants selling crypto coins. Ensure that you view their rating and number of complete transactions before engaging any of them.
When using a P2P platform, you need a private wallet. Private wallets are secure online addresses where you can store your crypto coins. During purchase, you can pay for your bitcoin through a credit card. After that, the merchant will send the bitcoin to your private wallet.check out how to buy polkadot on coinbase.
Selecting an Exchange Account
Picking the best exchange account can be a challenging process. Nowadays, there are plenty of them, and some of them are run by scammers. If you’re a newbie, joining an online forum for crypto traders can be a good start.
In addition, ensure that you do due diligence when studying the crypto markets. Crypto coins are very volatile and their value can increase or drop at any time. The best time to make an instant crypto purchase is during dips, which is when the value has fallen. Also, make sure that you get a private crypto wallet for safety purposes.