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Can You Buy Crypto With A Credit Card?

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Can You Buy Crypto With A Credit Card

Cryptocurrencies have been in the public sector for over a decade now. Bitcoin and several thousand altcoins are available for trade and transactions across the world at present. The digital assets market has not only spread as an open financial market but also as a new form of currency which is increasingly accepted by mainstream financial institutions, governments and large international business brands.

Years ago it was much more difficult to purchase cryptocurrencies on blockchain-supported digital platforms due to complicated onramps that many financial institutions blocked access to or any one of many other obstacles. Today that isn’t the case, as the rapidly evolving blockchain technology and intersecting innovations have allowed for the development of multiple platforms which have worked to create much simpler ways to purchase cryptocurrencies and to even convert to other forms.

Making It Possible To Buy Cryptocurrency With Credit Cards

The instances of purchasing cryptocurrency with a credit card have become more prevalent as the world has progressed into one which is considered to be much more digital than ever before.

Bitcoin is the number one digital asset by market capitalization and reportedly accepted as a store of value in over 18,000 retailers across the globe. While that may not seem like so much in a world of billions of people, that doesn’t account for the countless small businesses and smaller blockchain companies which aren’t accounted for who may also accept the network coin associated with the most significant economic blockchain ecosystem in the world.

Innovative networks like that of the BitCard® interconnected ecosystem, which traces its roots back to only a few years after the launch of Bitcoin, make it possible for crypto to be purchased with a credit card. The BitCard® model is designed to be an intricate pipeline which supplies Visa gift cards redeemable for Bitcoin to official resellers who partner with BitCard® to supply Bitcoin gift cards to gift card distributors, which in turn supply retailers and merchants, who of course interact directly with individual consumers and clients.

How BitCard® Makes It Possible For Individuals To Buy Crypto With Credit Card

BitCard® makes it possible to buy crypto with a credit card through the existing sales process flow, in which gift cards make it to the end user, individual purchasers, who can use credit card to buy BitCard® gift cards and easily redeem them in the framework of the online platform. Any one of a number of BitCard® partner gift card providers that accept credit cards can be used to provide the means by which individuals and businesses can purchase gift cards that are redeemable for BTC online.

How BitCard® BTC Gift Cards Are Redeemed For Crypto?

The way in which individuals are able to turn gift cards into a usable form of cryptocurrency is made available through the official BitCard® platform. After KYC verification, new users can establish a new user account and proceed to activate the BitCard® gift card in the validation process. After validating the official BitCard® gift card, users then proceed to the third step of the registration process in which a digital wallet is created and the BTC value held on the BitCard® gift card is then loaded into the activated digital wallet.

Once BTC is live and active in the digital wallet, Bitcoin can be used by way of the gift card or in digital wallet form, meaning Bitcoin can be sent and received, and exchanged for other cryptocurrencies in the dynamic capabilities housed within the framework of the BitCard® business proposition. Popular altcoins like Etherum (ETH), can be swapped for once BTC is in digital format in the user wallet opened and maintained on the secure BitCard® digital wallet application.

BitCard® offers a secure platform on which registered users are enabled with the capability to buy Bitcoin using a credit card, on a secure, non-custodial platform. What that means is that redeemed Bitcoin held in digital wallets existing on the BitCard® network are not owned by the company, but only held and secured by Fireblocks, a company specializing in blockchain automation and security.

This can be seen as rather significant in our increasingly digital world, as a greater number of individuals are calling for decentralized features to be included in web and online interactions. Non-custodial digital wallets are becoming increasingly desirable amongst many for that reason, as it provides an alternative from the traditional centralized models which have dominated business, finance and the online environment until recent years.

Discounted Rates And No Fees On BitCard®

Once users register on the BitCard® platform, they are permitted to purchase cryptocurrency to replenish their digital wallet directly on the BitCard® platform. Not only do users pay no fees when doing so, but registered individuals are even given a discount based on the amount of Bitcoin they wish to purchase through the secure platform.

BitCard® features discounts, at the time of writing, which reach 1.2% off of the value of the Bitcoin loaded onto the BitCard® BTC gift card. Purchases can be made with credit card, rendering the BitCard® platform as one that can be used to buy crypto with credit card itself, as stated above.

Other Platforms That Enable Individuals To Buy Crypto With Credit Card

While BitCard® offers a fully interactive and comprehensive model that facilitates credit card payments in exchange for cryptocurrencies, you can buy cryptocurrency with a credit card on other platforms as well. Those other platforms are primarily companies that have had time to develop the model to refine it and bring to the public, a proposition which works seamlessly with as few steps and opportunities for confusion or misdirection as possible.

Binance Accepts Credit Card Payments In Exchange For Cryptocurrency

The largest crypto exchange in the world by volume, Binance, offers a model which empowers its users with the ability and step-by-step instructions on how to buy cryptocurrency with credit cards and gift cards. On the Binance platform, registered users are first required to establish a user account with KYC verification in order to proceed to the establishment of the necessary digital wallet to hold any purchased cryptocurrency in. This is pretty much a similar model up to this point, but Binance differs from BitCard® in that the digital wallet that is supported on the Binance platform albeit custodial, like the BitCard® digital wallet, is not FDIC-insured as BitCard® is.

Binance was created with a focus to merge together DeFi and CeFi, as part of the very large vision of the massive global company. The exchange itself is a centralized exchange, so purchases made on the Binance platform are an agreement with the company, which is the custodial owner of all crypto assets on the exchange network. This makes it so that whenever an individual purchases cryptocurrency on the Binance platform, while they manage the assets in their digital wallet, the crypto itself does not technically belong to them in that platform scenario by law.

Binance accounts for almost half of all crypto exchange volume in the world, so obviously many people use the model. There is no right or wrong way in terms of custodial versus non-custodial crypto wallet and digital platform applications, but the choice between the two different management styles is entirely up to each individual person or organization. BitCard® provides the extra layer of legal protection, as all funds are FDIC-insured, and therefore covered in the case of any breach leading to loss. Binance provides a seamless payment gateway in which to purchase crypto assets with credit card, other cards, money or even cash from an accepted bank account.

Moonpay Allows Individuals To Purchase Crypto With Credit Cards

Moonpay is another platform which facilitates the simple use of credit cards and other forms to purchase cryptocurrencies. Moonpay differs from Binance, an exchange, and BitCard®, the gift card wholesale distributor, in that Moonpay is actually a payment processor and enables the use of multiple payment forms in exchange for cryptocurrencies. Several blockchain platforms utilize the Moonpay platform as an intermediary to accept cash from bank account transfers, credit, debit cards and other alternative money and payment forms.

Benefits of the Moonpay platform could certainly be said to include ease of use and implementation, as the digital processor seeks to make integration with its interface simple for retailers, merchants and digitally-operating businesses. A not so good aspect of the Moonpay service is often in reference to the fees charged by the platform. Moonpay has some of the highest fees on the market for payment processing in the digital space among more recognized entities. The convenience of the platform and network design is balanced in this way, as higher fees are assessed to faster payment methods typically on the Moonpay platform.

Credit card payments can be processed as cash advances on the Moonpay platform depending on the processing financial institution. This is also an obstacle for some who have used the Moonpay platform and submitted individual feedback and reviews about the experience. Besides these things which can perhaps present some challenges to individuals or businesses leveraging Moonpay, the platform is fast, reliable and highly secure.

Coinbase Offers Crypto For Credit Card And Other Payment Methods

Coinbase is another well-recognized platform which enables individuals to purchase crypto with credit cards and other methods. Coinbase also accepts cash wire transfers from banking institutions and debit in the scope of operations supported on the centralized cryptocurrency platform. Like Binance, Coinbase implements a system in which assets are held in custodial wallets owned by the platform, and not the individual by law.

A publicly traded company, Coinbase answers to shareholders, and operates by traditional business model. This can be viewed as a positive, as it requires extensive legal requirements to be met and adhered to, or as a potential dilemma, as it removes the concept of decentralization from the active Coinbase model, as it is a fully centralized ecosystem which does in some ways attempt to introduce DeFi strategies to its platform users mildly. Either way, Coinbase is relatively heavily trafficked and another go-to for purchasing crypto with personal or business credit cards and other payment methods. In order to use business credit cards it requires the business to become registered platform users prior to doing so.

You Can Buy Crypto With A Credit Card

The conclusion has been reached through the details laid out above. Not only can people and businesses buy crypto with credit cards, but also other means like cash advance, bank transfer, debit and gift cards, and more.

BitCard® encourages use of a digital platform and ecosystem wherein registered users can easily buy and hold crypto assets in FDIC-insured custodial digital wallets, held on a secure platform. Visit the official BitCard® online home to purchase BTC gift cards with credit and other forms of money and payment methods today.