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How to Buy Bitcoin with Debit Card in 2024

By Rebecca Campbell - Updated 24 September 2024
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As the original and most popular cryptocurrency, Bitcoin is the coin that many investors buy first when they enter the crypto market. Debit cards are a popular method of buying Bitcoin as they are convenient and widely accepted by crypto platforms.

This guide will provide you with step-by-step instructions on how to buy Bitcoin with a debit card, as well as recommendations for the best Bitcoin platforms that accept debit cards and everything else you need to know about the process.

Table of Contents

Where to Buy Bitcoin with Debit Card - Our Top Picks

Looking for a quick answer? Here are our top 3 recommended ways to buy Bitcoin with a debit card.

Where to Buy Bitcoin with Debit Card - Key Metrics

Where to Buy Bitcoin with Debit Card - Why They Made the Cut

Where to Buy Bitcoin with Debit Card Reviewed

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.

Pros and Cons of Using a Debit Card to Buy Bitcoin

Pros

  • Speed – Deposits and card purchases are processed instantly
  • Convenience – The process is simple, especially once you’ve saved your card details
  • Familiarity – The process is just like using your debit card for other online purchases
  • Secure – The payment will be processed by your bank, which uses industry-best security practices
  • Beginner-friendly – Making purchases with a debit card is easy, so anyone can do it
  • Broad acceptance – A large number of crypto platforms accept debit cards, giving you lots of options

Cons

  • Buying restrictions – When using your debit card, there may be limits on how much BTC you can buy
  • Security checks – You could be required to do a security check with your bank first, prolonging the process

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.

Frequently Asked Questions

What’s the normal time taken for Bitcoin transactions?
Bitcoin transactions are processed in anywhere from 10 minutes to 24 hours.
Is there any risk involved in buying BTC with a debit card?
No, you will not be at any risk as long as you buy BTC with a debit card on a regulated platform.
What’s the best place to store BTC?
As per experts, cold hardware wallets are a very good place to store your Bitcoin. Check out our best wallets for Bitcoin guide.
Are Bitcoin purchases legal?
Yes, the purchase of Bitcoin or any other cryptocurrency is considered legal in many countries of the world, including the US and UK. Nevertheless, it’s always better to check with your local laws.
Does buying and selling Bitcoin attract any taxes?
You may need to pay income tax on gains made from such activity. Please check your local tax laws to confirm.
Can Bitcoin get hacked?
Bitcoin is by far the safest cryptocurrency in the market today but no system is perfect. Protect your account by using 2FA and other security options.
Which debit card works best for buying BTC?
In general, debit cards issued in collaboration with Visa or MasterCard are considered the best for buying BTC. This is mainly because of their wider acceptance, in all parts of the world.
Is identity verification necessary before BTC purchase with a debit card?
A regulated crypto exchange or broker will most likely ask for identity verification before allowing you to purchase Bitcoin with a debit card. Please note, this is a part of the mandatory KYC procedure and is in the best interest of investors only, as it keeps anti-social elements away from such platforms.
Is using a debit card for buying Bitcoin worth it?
If you already use a debit card for making other purchases, you will find it to be one of the most convenient methods of buying Bitcoin.
Which exchanges accept a debit card?
The majority of exchanges accept debit cards, but the ones in this guide are our top recommendations when it comes to features, fees, security, and user experience.
Is it legal to buy Bitcoin with a debit card?
Yes. In most countries, including the US, the UK, and the EU, it is legal to buy Bitcoin with a debit card.
Is it safe to buy Bitcoin with a debit card?
Yes. It is safe to buy Bitcoin with a debit card on a secure and regulated platform. However, unregulated platforms may not be safe for buying Bitcoin.
Do some banks ban you from buying Bitcoin with a debit card?
Banks may block crypto purchases in countries where crypto is illegal. In countries where crypto is legal, some banks may still block payments to certain crypto platforms if they deem them high risk, but it will likely still be possible to buy Bitcoin with your debit card on other platforms in these countries.
Is there an app that I can use to buy Bitcoin with a debit card?
Yes. All the platforms reviewed in this article have a mobile app that you can use to buy Bitcoin with your debit card.
What is the cheapest way to buy Bitcoin with a debit card?
eToro is the cheapest out of our recommendations for buying Bitcoin with a debit card. Although it has higher trading fees than Binance, eToro enables free debit card deposits.
What is the easiest way to buy Bitcoin using a debit card?
Coinbase is the easiest way to buy Bitcoin with a debit card as the simple interface is designed to be accessible for beginners. eToro is also very easy to use.
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