Over the last decade, bitcoin has shifted from the dark corners of the internet, well and truly into the mainstream. Today, bitcoin investing is more popular than ever before. with growing numbers of investors wanting to know how to invest in bitcoin, and looking to buy bitcoin with debit card instantly. Once purchased, bitcoin can be traded, invested, or used to purchase online products and services throughout the world.
As its uses and the number of places accepting it as a payment method grow, the demand to understand how to execute a bitcoin purchase by debit card is also growing. If you want to buy a cryptocurrency and are interested in understanding how to buy bitcoin with a card, this is the article for you.
Step by step guide to how to buy bitcoin with a debit card
On eToro, investors can buy bitcoin easily via card payment methods with the following simple steps:
- Sign up to open an account on eToro, a process that takes a few moments. Fill in the information about yourself and verify your account.
- Link your debit card account and transfer Funds. A mandatory verification process will follow this step.
- Buy bitcoin on eToro – simply click on the link and purchase bitcoin. On eToro you can also purchase a fraction of a bitcoin.
Advantages of buying bitcoin with debit cards on eToro
There are several advantages when it comes to buying bitcoin with a debit card.
Advantages
- If you decide to buy Bitcoin with a debit card you will notice that it is incredibly straightforward. The entire transaction can be conducted in a few moments with little hassle or delay. This is extremely useful for those who wish to trade as in such cases, every second counts.
- A bitcoin purchase by debit card also alleviates the need for any cash transactions. This means you can do it from your mobile or PC, wherever you are.
- Platforms such as eToro that allow the purchase of bitcoin with a debit card are also secure, meaning the transaction is entirely safe.
- eToro doesn’t charge any clearance fees when you fund an account with this payment method.
We always advise that investors should never invest an amount that could impact their personal life if it was to be lost. It’s important to be realistic, make informed decisions, and set achievable goals.
Where is the Bitcoin stored in eToro?
When you buy your bitcoin with a debit card you might be wondering what happens to it. Well, with eToro, you have two options.
The eToro Wallet
The eToro Wallet is a crypto wallet that is simple, easy to use, and free. As a beginner investor, you might not know how to use a crypto wallet, but don’t worry, it’s not difficult to understand. The wallet can store multiple different kinds of cryptocurrency, not just bitcoin, securely. It supports over 120 different cryptocurrencies and can facilitate the exchange of more than 500 currency pairs from within the wallet itself. Its private key is unlosable, you benefit from an on-chain address, and the wallet has high-level security features; meaning your crypto is kept safe.
eToro platform
Alternatively, you can keep your bitcoin or other currency on the eToro platform itself. It’s important to note that once crypto has been transferred off the eToro platform, it cannot be transferred back. Instead, you would have to purchase more currency and keep it directly on the platform.
Other payment methods to buy Bitcoin with eToro
If you don’t want to pay for bitcoin with a debit card, there are other options. eToro supports a wide range of different payment methods to make it as convenient as possible for traders.
Be mindful that each method has different fees and timescales for the funds to be deposited and available for use. Be sure to check which one suits your needs before progressing.
To understand more about the deposit and withdrawal system, the best way to go about it is by opening a practice account, or by opening a regular account with eToro here. Once that is done, you can see the various payment methods available and try out the deposit process for yourself.
Summary
So, now you know how to buy bitcoin using a debit card! Investing in Bitcoin can be done easily through collaboration with eToro. First, you need to understand the pros and cons of bitcoin, and how to buy bitcoin using a debit card. eToro is flexible and offers a selection of solutions to help traders and investors make informed decisions.
Sign up to eToro to buy Bitcoin with various payment methods, including debit cards, and discover how to trade the next Bitcoin halving with our Bitcoin Halving Course.
This information is for educational purposes only and should not be taken as investment advice, personal recommendation, or an offer of, or solicitation to, buy or sell any financial instruments.
This material has been prepared without regard to any particular investment objectives or financial situation and has not been prepared in accordance with the legal and regulatory requirements to promote independent research. Not all of the financial instruments and services referred to are offered by eToro and any references to past performance of a financial instrument, index, or a packaged investment product are not, and should not be taken as, a reliable indicator of future results.
eToro makes no representation and assumes no liability as to the accuracy or completeness of the content of this guide. Make sure you understand the risks involved in trading before committing any capital. Never risk more than you are prepared to lose.