Yes, it is possible to purchase Bitcoin using a credit card – although it isn’t as easy as giving credit information to a website. One will be required to visit an exchange platform where your traditional currency can be converted into Bitcoin. However, you should tread carefully because some exchange platforms are scams designed to steal credit information. Do your research and only use trusted exchanges to purchase any form of cryptocurrency.
How to buy Bitcoin with a credit card
To be able to use an exchange platform, one will need to create a virtual wallet that’s in the form of a Bitcoin address. The address is almost similar to a virtual bank account or even PayPal account. Once you purchase the Bitcoin they will be sent to that address.
Steps to buy Bitcoins with a credit card:
- Choose a trusted cryptocurrency exchange platform
- Decide how many BTC you want to purchase or the amount of money you want to spend
- Insert your ID for verification
- Create a virtual wallet
- Key in the details of your credit card
- Wait for the BTC to hit your wallet
Does Coinbase accept credit cards?
Coinbase no longer accepts credit cards as a mode of payment. However, the company allows buyers to purchase BTC using their Debit cards.
In a nutshell, it is possible to purchase Bitcoin using a credit card. All you have to do is find a reliable cryptocurrency exchange platform and purchase whatever amount of Bitcoin you want.