Earlier, gold and stocks used to excite people as an investment asset class, and now they have been replaced by digital currencies. You may use the bitcoin code platform to make trading of bitcoin completely automated and profitable. The use case of traditional banking systems like debit cards and credit cards to buy bitcoin is skyrocketing, but no one talks about how safe these methods are to purchase bitcoin.
Bitcoin is an investment asset, and none of the expert cryptocurrency investors will recommend you to purchase one with a credit card because every investment in the financial segment involves some risks. But if your very purpose with bitcoin is to utilize it as a payment method, then you can go with a credit card. Debit cards and direct bank transfers are the safest methods to invest in bitcoin.
The priority of a cryptocurrency investor should be to secure their investment. If you are a newbie in this sector, you should start with some investments via bank transfer, debit card, or credit card. Unfortunately, nothing is secure and reliable in the market, and we need to consider the below points before buying bitcoin.
The volume of bitcoin transactions is on the higher side because payment gateways also hold a considerable amount of bitcoins in their wallet. The safety measures for these platforms are high compared to other minor exchanges.
Should you buy BTC with a credit card?
According to experts, bitcoin users should go with the payment method which is popular in the market because if we have a popular payment option, then it’s more secure than others. If you have a limited budget to invest in bitcoin, you can start with them but remember these methods are not secure compared to bank transfers and debit cards.
You should always use these methods when you have a good amount of investment in your bitcoin portfolio because the volume of transactions using a credit card is high compared to other methods, and it will help exchanges protect their user data from attackers.
Why purchasing bitcoin with a debit card is safer?
It is available for every country, and people from every sector actively use this method to purchase bitcoin because it is easy to buy bitcoins from your debit card compared to credit cards. If you are in the USA, you can easily make an online or offline purchase using debit cards, and it has low fees compared to other methods.
However, as a beginner investor, you should never use a credit card for purchasing bitcoin because the transaction fees are incredibly high, and the chances of losing money if transactions fail are high.
Which payment method is best for buying bitcoin?
If you purchase bitcoin from any method like a credit card, there is always a risk of losing money. But if you go with the payment method which is most popular in the market, then the chances of your funds getting hacked will decrease. If most bitcoin users buy coins with credit cards, then it’s not a good idea to use them for purchasing bitcoins because you will be stuck at the lower end.
If you are a new investor in cryptocurrency, then a bank transfer, prepaid card, or debit card will be the best option to buy bitcoins but remember all these payment methods have some fees that only lessen your profit margin.
A bitcoin debit card!
Some experts do not recommend the safest method because if there is any problem with your bank, you have to wait for a couple of days or weeks to make a transaction. But if you go with a cryptocurrency debit card, it’s wholly convenient and safe because there is no transaction fraud with these cards.
Best Bitcoin Debit Cards!
Coinbase and Binance provide the best bitcoin debit cards, as these companies work hard to provide the best services to their users. People can check out Coinbase Debit Card and Binance Debit Card, which will provide you with a secure way to buy bitcoins and save your money in case of any problems.
Coinbase Bitcoin debit card is available worldwide, but if you live outside the USA, you will have to pay extra charges while purchasing bitcoin with this card. However, the fees for purchasing bitcoin from Coinbase via credit/debit cards are pretty lower than that of other exchanges. Also, there is no transaction fee attached to your account for using this method for purchasing bitcoin.
