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Buy bitcoin with a debit card

15:30 / 03.06.2019
Buying Bitcoin or other cryptocurrencies weren’t as easy as it is now. Ever since the birth of the Bitcoin and other popular cryptocurrencies, there has always been some sort of regulations and complex processes that didn’t allow the individuals to buy bitcoin. However, after a decade of Bitcoin’s birth, there are services such as CasherBox that not only allow the users to buy Bitcoin but also let them exchange with other cryptocurrencies or fiat money. Apart from that, the number of payment channels have also grown to be accepted by such crypto exchanges that accelerated the crypto adoption across the globe. Debit cards/credit cards have become the most common way to make payment for the purchase of digital currency. Here is how can you buy Bitcoin with a debit card?

Buy bitcoin with a debit card

Over time, buying digital currencies have become hassle free and the regulations have also become more friendly to Bitcoin like cryptocurrencies. However, there is still an identity verification process and other such mandatory items are required to be fulfilled. Let’s go through the complete step-by-step process of buying Bitcoin with Debit card.

Step -1 sign up with the popular crypto exchange

First of all, you will need to sign up with convenient crypto exchange i.e. ChaserBox, Coinbase, circle, etc. Make sure you check out the various services offered by the particular exchange. For instance, some exchanges offer a built-in wallet facility along with offline or cold storage facility which you can if you don’t have a wallet. Secondly, you need to know the exchange fees and commissions before you place an order. Some exchanges even offer a welcome discount that you shouldn’t miss if you are buying Bitcoin for the first time.

Step -2 Complete KYC

Know-Your-Customer has become the mandatory verification process that anyone contemplating to acquire Bitcoin or other cryptocurrencies must go through. Moreover, KYC also protects the users and prevent illicit activities such as money laundering, financing terrorist and buying the controlled substance. Upon KYC, you will be asked to provide valid ID proof i.e. voter ID, passport, driving license, etc., in some case, they will even ask you to get a selfie of you holding your ID card. It is important to note that the verification process may take up to 3-5 days to get completed.

Step -3 Acquire your first Bitcoin

Upon the completion of KYC, you will be redirected to the main exchange page where you will find all the necessary information regarding the exchange and cryptocurrency you want to purchase. Buying Bitcoin with a debit card is one of the ways to acquire digital currencies. You will simply have to place an order that includes the amount of Bitcoin you want to purchase and choose the payment method like a debit card. It is important to note that transaction can take up to 3-5 days to be completed and reflected in your account.

You can alter keep the Bitcoin on exchange provided wallet or you can even send them to your own desktop, mobile or hardware wallet. it is always preferable to store your Bitcoin in your personal wallet.

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    Читатель | 7 605 коммент | 9 публикаций | 3 июня 2019 19:22
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