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How to buy Bitcoins using debit/credit card?

Personal_Finance / Bitcoin Nov 13, 2020 - 12:22 PM GMT

The history of Bitcoin begins in the year 2008 on August 18 when bitcoin.org was registered as the domain name. Later, on October 31 of the same year, a connection to a document written by the mysterious Satoshi Nakamot o and named as "Bitcoin: A Peer-to-Peer Electronic Payment System" was published to a mailing list on the cryptography theme. Later in the month of January 3, 2009, the Bitcoin system was born, Satoshi Nakamoto indeed mined the creation block (basically the block number 0).

The earliest Bitcoin software was launched on January 9, 2009. As it is an open source it had all the characteristics of Bitcoin, which allowed the emergence of other cryptocurrencies. The earliest Bitcoin operation happened on January 12, 2009, when Mr. Satoshi Nakamototransferred 10 Bitcoins to a persona named Hal Finney, who was one of the supporters of Bitcoin. One more noteworthy transaction happened with the buying of 2 pizzas for Bitcoins worth 10,000.

Bitcoin's primary security hole was discovered on August 6, 2010 and utilized on August 15.Purchasing Bitcoin via a credit card was very difficult and the rapidest way. As the industry grows and offers many methods, buying Bitcoin by means of debit or a credit card is not as difficult as it once was.

Ways to purchase Bitcoins via Debit/Credit Card

There are myriad ways to purchase Bitcoin by using a debit or credit card. The simplest way is to go through an exchange or a broker that supports these cards. Here are some examples:

· Coinbase

· Binance

· Bitstamp

· Changelly

· LocalBitcoins

· OKEx

· KuCoin

· Coingate

· BitPanda

Check that the selected exchange accepts the use of cards in your country. Several exchanges accept Visa or Mastercard type cards.

A detailed guide to purchase BTC with a debit /Credit card:

The stages to buy Bitcoin are fairly straightforward, although it can vary from exchange to exchange.

1. Create an online/offline account

Choose a cryptocurrency service or exchange that allows BTC using debit/credit card buy in jurisdiction. Check out the list of recommended exchanges and further conduct several research other options for your locality For example Coingate, Coinbase And CEX.io are regarded as beneficiary for the beginners level options. A broker like Coingate is also great for newbie investors. Coingate is one of the most hassle free options for purchasing BTC, while LocalBitcoins is another platform which deals with peer to peer trading and that lets you trade Bitcoins with others directly.

Because of regulatory differences, the best services for buying bitcoin may vary depending on your locality or country. For example, the easiest exchanges for Indians differ from the best for Americans or residents of France.

2. Getting there

Verified Your account must be verified before you purchase Bitcoins with a debit or credit cards. This involves uploading a copy of your national identity card passport, and other documents depending on the stages of verification chosen. Once your account is verified and approved, you can purchase crypto with your own credit card.

The main characteristics of Bitcoin, such as its security and transparency, have been taken up by most of the new cryptocurrencies, which have adjusted other parameters as they deemed necessary. Some of the best features of Bitcoin come from blockchain, the technology on which it is based. They are often regarded as revolutionary and many institutions seek to incorporate them into their own industry

By Sumeet Manhas

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

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