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How To Buy Bitcoin With Payoneer

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By Philip Hoey - Updated 23 May 2024
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Bitcoin, as a cryptocurrency has risen in popularity, becoming a global change in the financial world. Its decentralized nature, limited supply, and potential as a store of value have attracted investors.

With the growing acceptance by businesses and individuals, Bitcoin has gained significant ground in the financial world. Payoneer is a global payment platform that enables businesses and freelancers to send and receive funds worldwide.

With its user-friendly interface and infrastructure, Payoneer simplifies cross-border transactions, eliminating the barriers of traditional banking systems. Payoneer offers various payment solutions like virtual accounts and prepaid cards.

Trusted by millions of users, Payoneer provides a secure and convenient way to manage international payments, empowering individuals and businesses to thrive. With over 4 million users across the world, Payoneer has been a force in the fintech industry.

Can you buy Bitcoin with Payoneer? No. You cannot buy Bitcoin directly from Payoneer. But you can fund a trading platform that accepts Payoneer as a payment method to buy Bitcoin.

How To Buy Bitcoin With Payoneer

The best way to buy Bitcoin with Payoneer is to purchase from a crypto exchange platform that accepts Payoneer deposits. You can easily buy and sell Bitcoin and other cryptocurrencies with Payoneer from anywhere around the world using your digital device. Follow the steps below to buy Bitcoin with Payoneer. 

1. Choose A Platform

Choose a suitable, reliable, and reputable crypto exchange platform (you can follow the recommendation below). Sign up and fill in all necessary documents. Also, make all verifications including your phone and email address. Also, provide a photo ID.

1
Min Deposit
$ 100
User Score
4.95
Up to $240 bonus!
Build a diversified portfolio with crypto, stocks, and ETFs — all in one place.
Trade on the world's leading social trading and investing platform
Open Account
Description:
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Payment Methods:
Bank Transfer, Debit Card, PayPal, Credit Card, Wire Transfer
Full Regulations:
CySEC, FCA
 

2. Fund Your Account With Payoneer

If you followed the first step completely, you will have a verified account of the exchange of your choice. Now go to the deposit page and enter the amount you wish to deposit. Select Payoneer as your payment deposit, and click the deposit button to move the funds.

3. Buy Bitcoin

Search for BTC in the search box and enter the amount of Bitcoin you want to buy. Select the currency you are buying with and click the “Buy” or “Trade” button. Your Bitcoin will be transferred to your account immediately.

Table of Contents

Where To Buy Bitcoin With Payoneer

Choosing from the plethora of crypto platforms to use may depend on things like customer care, fees charged and lots more. To make things simpler, we have compiled and compared the best and safest places to buy Bitcoin below.

1
Min Deposit
$ 100
User Score
4.95
Up to $240 bonus!
Build a diversified portfolio with crypto, stocks, and ETFs — all in one place.
Trade on the world's leading social trading and investing platform
Open Account
Description:
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Payment Methods:
Bank Transfer, Debit Card, PayPal, Credit Card, Wire Transfer
Full Regulations:
CySEC, FCA
2
Min Deposit
$ 100
User Score
4.95
CFDs on BTC, ETH, LTC, NEO, XRP, IOTA, EOS, BAB, ADA, TRX, XMR
No need to open a crypto exchange account or use a special wallet
Regulated Broker - FCA, ASIC, CySEC (license number 250/14)
Visit Site
Description:
Plus500 is a leading provider of Contracts for Difference (CFDs), delivering Leveraged trading on +2,000 financial instruments, including Forex, Commodities, Indices, Shares, Options and Cryptocurrencies. CySEC license number (#250/14)
Payment Methods:
Bank Transfer, Debit Card, PayPal, Credit Card, Visa, Mastercard, American Express, Trustly, Apple Pay, Google Pay, Discover, Bank Transfer: SEPA, Bank Transfer: FPS, skrill
Full Regulations:
ASIC, FCA, FSA, MAS, CySEC #250/14
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
3
Min Deposit
$ 1
Promotion
User Score
4.9
Offers maximum flexibility for crypto trading strategies.
Responsive customer support through various channels, including live chat, email, and a comprehensive help center.
Wide range of trading options, including spot trading, margin trading, and futures contracts.
Visit Site
Description:
Kraken is a San Francisco-based cryptocurrency exchange that allows users to trade various digital currencies. With a strong emphasis on security, Kraken employs cold storage for most funds and offers two-factor authentication (2FA). Its user-friendly interface provides real-time charts and order books, making it suitable for both beginners and experienced traders. Kraken also complies with regulatory requirements in the jurisdictions where it operates.
Payment Methods:
Debit Card, Credit Card, Visa, Mastercard, American Express, Apple Pay, Google Pay, Discover
Full Regulations:
Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.

Pros And Cons Of Using Payoneer To Buy Bitcoin?

Pros

  • Accessibility: Payoneer is popular, thus making it a widely accepted payment method.
  • Security: Payoneer employs strict security measures to protect user accounts and transactions.
  • Familiarity: Using the same platform to purchase Bitcoin can provide a sense of familiarity and ease of use.

Cons

  • Limited options: While Payoneer is a popular payment system, it might not be as widely accepted by Bitcoin exchanges or platforms compared to other payment methods.
  • Fees: Payoneer charges fees for various services, including currency conversion and transactions.
  • Withdrawal limitations: Payoneer may impose certain withdrawal limitations, such as daily or monthly transaction limits.
  • Exchange rates: Payoneer uses its exchange rates for currency conversions, which may not always be the most favourable for users.

Buying Bitcoin with Payoneer has its pros and cons. You must note this as it will aid your decision on how you want to buy Bitcoin. Below are the pros and cons of buying Bitcoin with Payoneer

Is Buying Bitcoin With Payoneer Right For Me?

Buying Bitcoin with Payoneer is a personal choice but there are a few considerations to make:

  • Accessibility: Consider whether Payoneer is accepted in your country. If yes, buying Bitcoin with Payoneer may be a convenient option for you. However, if Payoneer is not widely supported in your area, you might face difficulties finding platforms that accept it for Bitcoin purchases. 
  • Simplicity: If you already have a Payoneer account and are comfortable using it for financial transactions, leveraging it for Bitcoin purchases could provide a sense of familiarity and ease. 
  • Fees: Payoneer typically charges fees for currency conversion and transactions, which can vary depending on the specific services and amounts involved. Compare these fees with other payment methods to determine if they are acceptable to you and align with your budget.
  • Transaction Limits: Evaluate the transaction limits imposed by Payoneer. If you plan to buy a significant amount of Bitcoin, check if Payoneer’s withdrawal limits accommodate your needs. If the limits are too restrictive, you may need to consider alternative payment methods that offer higher transaction freedom.

Is Buying Bitcoin With Payoneer Safe?

Buying Bitcoin with Payoneer is safe. Payoneer’s tight security measures got you covered. Also, make sure you protect the details of your Payoneer and crypto exchange accounts. Report any unauthorized transaction. Read the T&Cs of the companies you trade with to be updated especially on their security.

Can You Buy Bitcoin With Payoneer?

It’s impossible to buy Bitcoin with Payoneer directly. However, you can do that through a third party (crypto exchange platform). Make sure the crypto exchange platform you choose accepts Payoneer deposits so as not to risk your funds.

Fees For Buying Bitcoin With Payoneer

There are a few fees to have in mind when buying Bitcoin with Payoneer. These fees play a part in your choice of buying Bitcoin. Below are those fees:

  • Trading fees: When you buy Bitcoin on an exchange, there are usually trading fees involved. These fees are typically a small percentage of the transaction amount and can vary depending on the volume of your trades or your account level.
  • Exchange rates: Payoneer uses its exchange rates for currency conversions, This plays a role in the amount of Bitcoin you will end up buying.

Trading fees

Exchange rate fee

0.5% – 1%

2%

A tabular representation of fees for buying Bitcoin with Payoneer. 

What Are The Alternative Methods To Buy Bitcoin?

There are a plethora of alternatives for buying Bitcoin. You can use a fintech company or the traditional means. Below are alternatives to buying Bitcoin:

FAQs

Is it Easy to Buy Bitcoin With Payoneer?
Yes. It is easy to buy Bitcoin with Payoneer. You just have to have an account with a crypto exchange platform that accepts Payoneer deposits.
Can I Buy Other Cryptocurrencies With Payoneer?
This depends on the platform. While some crypto exchanges offer a wide range of cryptocurrencies for purchase and accept Payoneer as a payment method, others may not. It is important to do your research own (DYOR) to know which crypto platforms accept Payoneer as a payment method.
Can I Buy Bitcoin With Payoneer Instantly?
Yes, you can. But understand that this depends on the exchange. Some exchanges have a long verification process while some don't. It also depends on how fast the internet is. If all of these are cool. Then you can buy Bitcoin instantly.
Can I Buy Bitcoin With Payoneer Anonymously?
Buying Bitcoin with Payoneer does not come with an anonymous status. Users are required to provide personal information for a know-your-customer (KYC) process, such as identification documents. This process is to protect against fraudulent activities. Your name will not be publicly associated with the transaction but the platform will have records
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