The Best Payment Methods to Buy Crypto Online
Nowadays, you can use many payment methods to buy cryptocurrency online. Yet, not all are created equally and some are more beneficial to use than others. For instance, depending on your country, credit cards are not available.
There are many ways to purchase crypto, the most obvious is buying it outright on a cryptocurrency exchange. However, you can buy options (put or call) and now invest via an ETF. The most famous ones are the Ethereum ETF and Blackrock’s Bitcoin ETF.
Nevertheless, if you are just getting started, we advise you to purchase crypto with the following payment methods:
Debit Cards
The safest and most accepted way to buy cryptocurrency is via your Visa, Maestro or Mastercard debit card. If you have a bank account, purchasing crypto online is as easy as buying anything else such as buying an iPhone or purchasing a voucher.
Debit cards are widely accepted because they are safe and extremely fast. You can even purchase directly on exchanges with your debit card at the biggest ones such as Binance, Coinbase and Crypto dot com.
When you buy your preferred crypto with a debit card, you will never be charged any fees by the merchant. Also, all deposits are instant and when you decide to sell your crypto, you’ll get your preferred currency within 24 hours.
E-wallets
In recent times, e-wallets have become popular due to their security, speed, and widespread acceptance. They offer great convenience for various transactions, including cryptocurrency purchases and online gaming. In Canada, for example, e-wallets are widely used not only for buying crypto but also for activities such as playing at online casinos.
Two prominent e-wallets, Skrill and Neteller, are frequently used by Canadians for their gaming needs. These platforms have established themselves as reliable payment methods at top Canadian Casinos, thanks to their speed and efficiency. Players can make deposits instantly and receive their winnings within hours rather than days. This seamless experience is mirrored in their functionality for cryptocurrency transactions, allowing users to buy and sell crypto with the same level of convenience.
When purchasing cryptocurrency directly from an exchange, you’ll find that many platforms accept a wide range of e-wallets, including options like Neosurf, Klarna, Trustly, and MuchBetter. This acceptance reflects the growing trend of integrating e-wallets into various online financial activities, making them a versatile choice for both gaming and crypto investments.
Pre Paid Cards
Crypto enthusiasts like to use pre-paid cards namely Wise or Revolut so they can stay in control of their purchases. These protocols work exactly the same as debit cards, it’s just that you must top up your account first.
With some pre-paid cards such as Revolut, you are able to purchase crypto on the platform. There are tons of options, not only the big boys like Bitcoin, Ethereum and Dogecoin. Often, new cryptos are added every week for you to purchase and you can use the wallet in the app to store all coins.
However, we always advise you to move your cryptocurrency to an external wallet where you control all the keys. Moreover, if you are planning to hold the crypto for a long time, then you should store cryptocurrencies on cold wallets (wallets with no access to the internet).
PayPal
PayPal became popular in the late 90s and was eventually bought by eBay. Getting an account is a straightforward process, all you need is an email address and a phone number. From there, your account is set up, and to fund it, just add a debit card.
Since 2020, PayPal has allowed customers to buy, sell and hold crypto. You can use the wallet provided or connect prominent wallets to the account such as MetaMask, Ledger, Magic and Phantom.
Also, if you are not looking to risk money, you are able to hold assets with a PayPal stable coin called PYUSD. The coin is pegged to the dollar where you can sell your crypto any time and exchange it back into the fiat currency, US Dollars.
Bank Transfer
If you are not a fan of modern e-wallets and digital payment then you can still purchase cryptocurrency with a bank transfer. To execute, you purchase the digital assets either from a company or a person.
The whole process is simple, you just need the relevant banking information and then sign into your internet banking account. Request the IBAN and BIC numbers and create a transfer. From there, the funds should land in the recipient’s account in minutes.
However, notably, if you are making transfers at the weekend, the money may only land in the recipient’s account on Monday. Double-check with your bank before making any transactions.
Conclusion
As you can see, there are so many ways to purchase crypto today. Yet, if you want to use your cash to buy crypto, then it’s also an option. Just check on Google for any exchanges such as Local Bitcoins. Find someone who is looking to sell and meet them in person with our cash. Nonetheless, for safety and speed, nothing beats purchasing crypto with the recommended payment methods in this article.