More & more people want to buy Bitcoins. These common payment methods to buy Bitcoins instantly are highly useful.
Bitcoin continues to provide a valuable option to users for completing instant & fairly cheap transactions. This digital currency is becoming more appealing to the crowd with time.
Users can buy a lot of things either online or offline through Bitcoins. Additionally, you can also trade Bitcoins to generate profits from its price fluctuations.
However, you might be charged a little brokerage or fees per transaction. But, whenever you want to buy Bitcoins, you need to pay for the amount of Bitcoins you want to purchase.
Users can pay for Bitcoins through a number of payment options. These payment methods may accompany with different fees, buying limit, worldwide access, support, reputation & associated risks for the same.
You just need to act cautiously to make your transaction as safe as possible. Here are 8 best payment options to complete Bitcoin transaction successfully:
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(1) Credit Card
It is one of the most common payment methods to buy Bitcoins instantly. Millions of people are in a habit of using credit card. They use them occasionally to make payment for purchasing different products & services including buying of Bitcoins.
According to a 2017 survey conducted by LendEDU, out of 672 active Bitcoin investors polled, 18.15 percent of the participants used a credit card to fund Bitcoin purchases.
Out of these, 22% participants said that they have not yet paid off their credit card balance after purchases. However, 90% of these people expected to pay off their balance using profits generate from Bitcoin investment.
When using credit card, deposits are verified instantly. Therefore, exchange can immediately release the cryptocurrency to the Bitcoiner. However, credit card transactions are accompanied with large fees which in turn make it inconvenient for buying many Bitcoins.
Additionally, there could be some restrictions on the maximum amount that can be used to buy Bitcoins. But, the use of credit card for buying Bitcoins is not as easy as it was few years back.
Several credit card companies are in the process of reviewing their credit card policies that allow customers to buy Bitcoins with credit card. These well-known credit card companies include Bank of America, Citigroup, Discover Financial Services & many others.
Some of the factors responsible for taking this critical step include possibility of money laundering, lack of transparency, fraud losses, central bank restrictions & many more.
Thus, you need to check whether your credit card provider allowing you to buy Bitcoin or not.
- Payment Methods To Buy Bitcoins: Shutterstock