Want to buy Bitcoin with prepaid cards?
Read on…
We all know Bitcoin wasn’t as popular back in 2011-2012, but now, since the crypto madness has caught everyone, everyone wants to know about Bitcoin and also wants to own a piece of it if not one whole Bitcoin.
The best part is, it has become effortless to buy BTC compared to the initial days.
Now you can buy Bitcoin for cash, for a bank transfer, for gift cards, via credit/debit cards and also with prepaid cards.
And to your surprise and mine, many people want to buy BTCs with prepaid cards.
That’s why for those of you who don’t know what a prepaid card is, here is a simple explanation:
A prepaid card is very different from a bank account debit card. A bank account debit card is linked to your checking account. A prepaid card is not linked to a checking account. Instead, you are spending money you loaded onto the prepaid card in advance.
There are quite a few services that lets one buy Bitcoins with prepaid cards. Some of them are listed below. Take a look:
Where You Can Buy Bitcoin With Prepaid Card
1. Coinmama
Coinmama is a digital financial service company operating in the cryptosphere ever since 2013 from Israel but is originally a venture of NBV International registered in Slovakia. It allows investors to buy popular coins such as ETH, BCH, ADA, LTC, etc., including BTC. Prepaid cards are also supported by Coinmama for buying BTC and other currencies.
- Fees: Simplex, Coinmama’s credit/debit card processor, charges a 5% additional fee (with a minimum cap of USD 10) on each transaction. Only Visa/MasterCard are supported.
- Countries Supported: They operated in over 180 countries.
- Additional Comments: Reliable and trusted service.
2. Coinbase
Coinbase is a popular name in the world of cryptocurrencies and is a digital currency exchange based in the US since 2012. It is a broker exchange which serves 32 countries with four digital currencies including BTC.
- Fees: 3.99%
- Countries Supported: Serves 32 countries.
- Additional Comments: Reliable and trusted.
3. CEX.io
CEX.io is an old cryptocurrency exchange service operational since 2013, from London, UK. The list of cryptocurrencies available on the platform includes Bitcoin, Ether, Ripple, XLM, Bitcoin Cash, Dash, Zcash, and Bitcoin Gold. And the good news is that it supports VISA & Mastercard powered cards including prepaid cards.
- Fees: Up to 3.5%
- Countries Supported: All countries, except a few. (Deposits/Withdrawals)
- Additional Comments: Reliable and trusted.
LocalBitcoin is a popular Bitcoin start-up that facilitates over the counter buying/selling of bitcoins for a nominal fee since 2012. The company, based out of Finland, has a network of Bitcoin buyers & sellers around the world. The good thing is, you will find many buyers and seller dealing in BTC via prepaid debit cards from across the globe.
- Fees: Buyer/Sellers who create ads are charged 1% fee for every completed trade.
- Countries Supported: All countries.
- Additional Comments: Reliable and trusted.
Buy BTC From LocalBitcoins Now
5. Bitpanda
Bitpanda is a famous crypto exchange in Europe and is based in Vienna, Austria, where it was founded in 2014. It supports multiple payment options while buying Bitcoin, one of them being prepaid cards.
- Fees: 3-5%
- Countries Supported: European countries can buy; seller can be anyone.
- Additional Comments: Relatively unknown and less traction here.
Also, read: Credit Card Purchase Limit On Bitpanda Increased to €10,000 [European Crypto Exchange]
6. Paxful
Paxful is a peer-to-peer Bitcoin marketplace connecting buyers with sellers just like eBay for Bitcoin. You need to select your preferred payment method and type in how many bitcoins you need.
- Fees: Seller pays 1%, the buyer pays nothing.
- Countries Supported: All countries.
- Additional Comments: Relatively unknown, less traction here.
Note: The volume remains low on this exchange, but still you can go ahead and purchase BTC with the prepaid card via Paxful.
Conclusion: How To Buy Bitcoin With Prepaid Card
One needs to go through a complete KYC check and registration of their cards before buying bitcoins on either of the exchanges mentioned above. An exception to this is a service like LocalBitcoins which is peer-to-peer.
Apart from that, it is always advised to never to use these services’ wallets as your permanent wallet because they all provide hosted wallets where you don’t control your private keys. Some good self-hosted wallets are listed below for your safety:
Here, Coinmama is an exception because Coinmama doesn’t provide an inbuilt wallet for buying BTC, a good security measure.
So what are you waiting for?
Go ahead and buy your first BTC if you haven’t bought it yet because in the long term its value is only expected to increase. Read more: Top 9 Bitcoin Price Predictions By Experts That Is Hard To Believe.
Lastly, if you have questions or doubts about the listed services, feel free to shoot them in the comment section below 🙂
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