Although Bitcoin and other cryptocurrencies have been around for sometime, 2017 was the year, they really took off. This sudden popularity has led to the massive influx of new users, who are still trying to figure out how things work. While mining is not everyone’s cup of tea, the only other way to get Bitcoins and other cryptocurrencies (aka Altcoins) is to buy them. And, if you are here, you probably want to know a quick and safe way to buy some Bitcoins or Altcoins. Using a credit card is a safe and quick way to buy cryptocurrencies, but not every Bitcoin selling website or exchange can be trusted, hence we are providing a list of five tried and tested Bitcoin exchanges that you can use without worrying.
Before we go any further, you will need a wallet to keep the Bitcoins or other cryptocurrencies that you buy. It is never a good idea to keep your Bitcoins or any other cryptocurrency on the exchanges that you buy from for long terms. You can keep them there if you are planning to sell it soon or use it to buy another cryptocurrency, but if you are buying Bitcoins or Altcoins for investment, it is always better to transfer them to a software or hardware wallet. You can read about the best Bitcoin wallets here. For the scope of this guide, let us assume that you have a wallet to keep your Bitcoins.
Time to about the exchanges.
Top cryptocurrency exchanges to buy Bitcoins with a credit card
Coinbase is one of the most popular Bitcoin exchanges globally. It currently supports customers from 32 countries including US, UK, Australia, Canada, Singapore and select European countries. Coinbase supports purchases using credit cards, debit cards and bank accounts. In terms of the supported cryptocurrencies, you can use Coinbase to buy or sell Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH) and Litecoin (LTC). It also provides its own wallet to store the cryptocurrencies, which is fine for temporary use. The whole process of buying is fairly easy – sign up, connect your credit card/ debit card/ bank account and buy.
Changelly is another very popular cryptocurrency exchange. It offers services internationally, so no matter which country you are from, you can use it. You can use credit or debit cards to buy Bitcoin as well as many other cryptocurrencies, however it is best if you only use it to buy Bitcoin as the exchange rates are not very good for credit card to other cryptocurrencies. If you are looking to buy other cryptocurrencies, you can buy Bitcoins from Changelly and then use those Bitcoins to get another cryptocurrency from exchanges like Binance. For credit or debit card transactions, it uses Simplex to verify and manage the sale.
Like Changelly, CoinMama also works in pretty much all the countries. It offers some of the highest limits to buy Bitcoins using credit cards. The only drawback are their charges, which are higher than other exchanges. It currently supports Bitcoin and Ethereum cryptocurrencies.
Cex.io is also good option if you are looking to buy cryptocurrency using credit cards. It supports Bitcoin, Ethereum, and Dash coins. In terms of the supported geographies, it works globally like Changelly and Coinmama except there are a few exceptions like Iceland, Vietnam, Afghanistan, Algeria, Bahrain, Iraq, Kuwait, Lebanon, Libya, Nigeria, Oman, Pakistan, Palestine, Qatar, Saudi Arabia, and Yemen. The consumers from these countries can’t use credit cards to make purchases on Cex.io.
Bitstamp is one of the oldest Bitcoin exchanges in the list. It is targeted more towards traders, so the fees are higher than other exchanges for credit card transactions. It also has stringent verifications before you can make purchases. So, if you want to quickly buy Bitcoins, head over to Changelly or Cex.io. In terms of the cryptocurrencies, it supports Bitcoin (BTC), Ripple (XRP), Litecoin (LTC), Ether (ETH) and Bitcoin Cash (BCH). Bitstamp works for European customers as well as consumers from over 50 other major countries.