If you have heard or read about bitcoins, you may be wondering how you can buy bitcoin with credit card or any other means. Well, this is one of the most common questions people have about this incredible electronic currency. Before we try to answer these questions on how to buy bitcoins with debit card or credit card, let us first talk about how this type of currency evolved.
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We all know how significant the internet is today and how many things it has enabled us to do. Not only does it improve the way people communicate, but it is also a tremendous source of valuable information. For businessmen, there is also no way they could ignore the power of the internet for the growth and expansion of their businesses. People are now turning to the web to purchase products and services, and in fact, there seem to be very few things that you cannot have or gain access to online. This can explain why bitcoins have become a great hit as well and more and more people are looking to buy bitcoins with debit card or credit card.
What bitcoins do is make it easy for consumers and businesses to transact with one another. In the past, products and services are bought and paid for online through bank or credit card transactions. But now, a simpler and more effective method has been discovered – bitcoins. Now the question is whether it is possible to buy bitcoin with credit card.
Can You Buy Bitcoin With Credit Card?
If you try surfing the internet and visiting a number of websites to get some information about bitcoins and how to buy bitcoin with credit card , you may end up feeling frustrated because there isn’t much information out there about this. The reason is that it is basically not possible to buy bitcoin with credit card. In fact, the best thing you can do is buy bitcoins with cash. How is that so?
Well, first of all, bitcoin is a decentralized crypto currency. What this means is that there isn’t any government agency or authority that has control over its value. Thus, it is generally believed that the value of a bitcoin is dependent solely on supply and demand.
Bitcoins are a kind of an untraceable currency as well. This means that as soon as a transaction using a bitcoin is made, it is very unlikely that any parties will be able to know between whom the transaction took place. As a matter of fact, it is very possible for you to sell bitcoins or buy bitcoins with cash without being known literally. You won’t need to share any personal information of yours to do this. In short, anonymity is your advantage. With all that said, it makes a lot of sense that you cannot really buy bitcoin with credit card.
Instead of using your credit card to buy bitcoins, you can instead trade currencies for bitcoins. So whatever currency you are using can actually be used for bitcoin exchange. And then such currency can be converted to a specific amount of bitcoin. This process is technically similar to what may happen if you buy bitcoin with credit card.
How to Buy Bitcoin with Credit Card Online
If you don’t want to earn free bitcoins or buy bitcoins with cash and you have decided to buy bitcoin with a credit card, it is important that you belong to a trusted network. If you can afford to pay a bit more money for your bitcoins, you can use eBay to get your bitcoins.
Another method to buy bitcoin with a credit card is to visit your bank and apply for a cash advance on your credit card. The proceeds of your cash advance is what you will use them to purchase your bitcoins. There are several sites online already that accept credit card cash advances for payment of bitcoins. Take note, however, that with the interest rate you will be charged for the cash advance, this is a more expensive way to buy bitcoin with credit card.