How to Buy Bitcoin with Debit Card in 2024

How to Buy Bitcoin With a Debit Card

The simplest way to buy Bitcoin with a debit card is to purchase it online from a crypto exchange. Exchanges make it easy to buy and sell Bitcoin with a debit card and other cryptocurrencies directly from your smartphone, tablet or computer. Check out our recommended platforms below and follow the steps to buy Bitcoin with a debit card safely.

1. Choose a platform

You’ll have plenty of choices when it comes to platforms that support Bitcoin and accept debit cards. Pick one that meets all your needs regarding features, security, and fees. The next section will go into detail about some of the best places to buy Bitcoin with your debit card, but you can click on one of our top recommendations below to get started right away.

2. Create and fund your account using a debit card

Go to the website of your chosen platform and click the sign-up button. This will take you to a registration page where you can fill in your details. You may also need to verify your identity with a photo ID. Click on “Deposit” and select debit card. Enter the amount you wish to deposit, fill in your card details, and complete the transfer.

3. Buy Bitcoin

On your platform, look for the trading pair for BTC and your local currency. You can use a limit order if you want to buy Bitcoin once it reaches a specific price. If you want to buy Bitcoin immediately at the current price, simply select market order, fill in the amount you want to purchase and click on the “Buy” button.

Why Should I Buy Bitcoin With a Debit Card?

Here are some of the reasons that you might want to use a debit card to make a Bitcoin purchase.

Speed

A debit card is one of the fastest ways to make a deposit on a crypto platform. While you might have to wait days for a bank transfer to be processed, debit card deposits are processed immediately, leaving you able to trade with your funds straight away.

Convenience

You will only need to input your debit card details once, and then it will be linked to your account. After that, it is quick and simple to make deposits. A number of platforms also have an instant card purchase feature, which speeds up the BTC buying process and simplifies it further.

Familiarity

Most debit card holders already use their cards for a range of other purchases. When you use your card to make a deposit or purchase on a crypto platform, the process will be the same as that which you are already used to when making other online purchases. No need to set up a new account or learn to use a new payment service.

Acceptance

While some payment methods may only be accepted by a limited number of crypto platforms, debit cards are supported by the majority. This gives you plenty of options when it comes to where to purchase Bitcoin.

Buying Bitcoin With a Debit Card via Crypto Exchange vs P2P vs Broker

There are different types of platforms you could use to buy Bitcoin with a debit card, and we’ll look at the pros and cons of each below.

Crypto exchange

Crypto exchanges are one of the most popular places to buy BTC with a debit card as they provide a range of useful trading tools and features like earning products, as well as generally offering affordable trading fees and deposit minimums.

Regulated exchanges have strong security and often good customer service. The most popular crypto exchanges also have high liquidity, meaning fast trades and a smooth user experience. You can even make instant debit card purchases on some exchanges.

P2P

Peer-to-peer (P2P) platforms enable you to find Bitcoin sellers that accept debit card payments and send them money through escrow in return for BTC. You can sometimes do this without going through an identity verification process.

There are no fees, but the seller may charge a higher exchange rate than other platforms, and caution is needed as some users may attempt to scam you. Buying P2P tends to be slower and more complicated than using an exchange, and you probably won’t get access to features like technical analysis tools, Bitcoin custody, and earning products.

Broker

Crypto brokers enable you to speculate on the price of Bitcoin and other assets without actually owning them, through derivatives like CFDs. They tend to be licensed and secure, but CFDs are high-risk instruments and may not be suitable for beginners.

The minimum debit card deposit on some brokers may be higher than on exchanges, but brokers tend to be rich in useful features and support advanced trading. Brokers make a profit by charging a spread, and they may also charge a commission on trades.

Buying Bitcoin Anonymously Using a Debit Card

As all regulated exchanges and brokers have KYC requirements, it is not possible to use them to buy Bitcoin anonymously with a debit card. The only way to avoid KYC is by using a P2P platform to find a BTC seller who accepts debit card payments from unverified users.

However, this is less secure and leaves you at risk of potential crypto scams. What’s more, the process will not really be anonymous as the seller will receive your payment details, and the payment will be visible to your bank.

How Much Does It Cost to Buy Bitcoin Using a Debit Card? - What Are the Fees?

Unlike with credit cards, there are no annual fees for owning a debit card. If you want to use a debit card to buy Bitcoin, whether you pay fees and how much will depend on the platform you use.

eToro doesn’t charge any deposit fees, but charges 1% plus spread on each BTC purchase. Using a debit card to make an instant purchase on Coinbase incurs a fee that varies according to a number of factors, as well as spread. Binance charges a 1.8% fee for debit card deposits and up to 0.1% on Bitcoin purchases.

Is Using a Debit Card the Best Way to Buy Bitcoin?

We’ve already seen what the pros and cons are of using a debit card to buy Bitcoin, but how does it compare to other payment methods? Which payment method is best for you will depend on your personal needs and circumstances. Some of the most popular alternatives are discussed below.

What are the alternative methods?

Credit card

Using Credit cards to buy Bitcoin provides the speed and convenience of debit cards, with the addition of better security and the flexibility to pay later or in installments. The downside is that is that they have annual fees and interest payments, and you risk going into debt if you can’t pay what you owe.

Bank account

Making a bank transfer to buy Bitcoin is often the cheapest way to buy Bitcoin as the fees are lower or non-existent. The payment could take days to process, but when using a service like Faster Payments, bank transfers can be pretty much immediate.

Neteller

Neteller is a digital wallet and e-money transfer service that is convenient for its speed and ease of use. Most crypto platforms don’t accept Neteller, but you can use Neteller to buy Bitcoin on Bitpanda and Capital.com.

Paysafecard

Buying Bitcoin with a Paysafecard is a simple way to pay with cash. This is convenient for people who don’t have access to a bank account or credit card. However, there are limits on how much you can spend and where you can use it.

PayPal

Buying Bitcoin on PayPal is a popular online payment method due to its speed and convenience, and you can even buy BTC directly on the PayPal platform (you won’t have access to as many features and coins as on crypto platforms, though). However, few crypto platforms accept PayPal deposits from users outside the US.

Apple Pay

Buying Bitcoin with Apple Pay is simple, secure, and private. It speeds up the checkout process but Apple Pay isn’t accepted as a payment method on many platforms other than Capital.com.

Google Pay

Buying Bitcoin with Google Pay is a fast and secure method of paying online. It’s easy to set up and there is no limit on transactions, but very few crypto platforms accept Google Pay. Capital.com is one of the few that do.

Amex

Buying Bitcoin with American Express is a trusted method of payment that can be used to buy Bitcoin quickly and safely. There is a choice of Amex cards available, and you can earn rewards when you use them, but the fees can be high and not all platforms that accept cards accept Amex.

Venmo

Venmo is a digital wallet designed for peer-to-peer payments. You can buy Bitcoin on Venmo in the crypto tab of the Venmo platform, where you can easily and quickly buy as little as $1. However, there are only four cryptocurrencies available, and Venmo has higher fees and much fewer features than most crypto platforms.

Skrill

Skrill is a digital wallet, similar to Neteller, that provides a fast and secure way to buy Bitcoin. Most crypto platforms don’t accept Skrill to buy Bitcoin, but you can use it on eToro, Bitpanda, and Capital.com.

Final Thoughts on Buying Bitcoin With a Debit Card

To summarise, debit cards are one of the most popular payment methods when buying Bitcoin, as they are fast, convenient, and widely accepted. The majority of crypto platforms support debit card deposits, and the best ones are listed on this page.

Our top recommendation is eToro, where you can make a debit card deposit for free. After that, the Bitcoin buying process is simple and secure, and you can benefit from unique social investing features like copy trading. There are step-by-step instructions for buying Bitcoin with a debit card on eToro further up this page.

Methodology - How we picked the best platforms to buy Bitcoin with a debit card

We have a duty to provide reliable information and guidance that you can trust when you are making investment decisions. We rigorously test each platform we review as part of our quality control process.

The processes and features we test include signing up, making a deposit, speed and performance of interface, trading tools and features, available assets, fees, educational content, customer support, security, and regulation.