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Ways to buy bitcoin with Credit Card

12.13.2019

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Bitcoin was launched in 2009 but really claimed its fame in 2017 when investors and businesses began seeing bitcoin as a legitimate asset class. Bitcoin was originally created to send payments between users without going through the governmental systems and it is totally decentralized.

If you are looking for a quick and easy way to buy bitcoin then BUY Bank can help you. We ensure that our services give all our clients a good and pleasant experience. You can decide whether to choose Hryvnia or USD, either way will be simple. Bitcoin online purchase with a card offers the most affordable prices and all you will need is to:

  1. Set the exchange direction to USD to BTC or UAH to BTC depending on what is relevant to you.
  2. Enter the contact details and the address of your bitcoin wallet.
  3. Check your information, read through our rules and select Buy.
  4. Once the system receives your payment, we will then initiate a bitcoin transfer to you.

No accounts for bitcoin purchasing

Many people may be wondering whether they need an account however when you buy bitcoin you do not require an account. You will need a bitcoin wallet to store your bitcoins. These wallets work similar to a bank account, but the difference is that the bank is not liable for the security, the recipient is responsible.

Is it anonymous?

Bitcoin trading is not anonymous but rather works with addresses. That being said, it is not easy to know who is behind a specific address. Transactions are open and public but there is no way for a person to know who exactly is transacting.

When should you buy bitcoin?

Nothing in any market is absolutely certain in the online money market. Bitcoin is operative 24 hours a day and the price changes constantly. You should consider using online tools like Bitcoin Wisdom or CryptoWatch to determine and monitor the change in the bitcoin rates.

Restrictions when using a card to purchase

There is a limit when buying bitcoin with a card, it starts from 1 000 UAH. The maximum amount per one exchange request is determined on the choice of payment method you use and the terms relative to that payment type. If you want to exchange an amount that is beyond the limit, then we at BUY Bank would be happy to assist you. You can contact our technical support team in telegram chat at the agent will offer you a suitable option.

How long does bitcoin take?

The bitcoin network does not take a long time, a typical transaction is 10 minutes. There is rarely ever a delay of more than one hour. The bitcoin transfer is initiated by the system automatically as soon as you confirm the payment you made via card.

How will I know the status of my transaction?

As soon as our system receives the payment for bitcoin from your card, we will transfer the coins into your bitcoin wallet. You will be able to track the status of your transaction by referring to the blockchain network which is displayed on the online exchange window. At BUY Bank, we are here to assist you if you need help locating your code.

Withdrawal of bitcoin to a card

Bank cards are an easy way to make payments online and these days many people also want to withdraw bitcoin to their cards. BUY Bank online exchange service makes this convenient for the recipient with just a few easy steps:

  1. You should select the BTC- UAH conversation direction, and key in the amount you wish to transact. Thereafter you will be required to provide your card number. The current rate will be set out by the system automatically.
  2. You should enter your contact details and read through the rules of service. Select Get UAH.
  3. You will also need to provide your bitcoin wallet address. The details of your transaction will be displayed on your screen for you to confirm. Once you have done this, send BTC.
  4. Once the BTC has been sent, you can expect the payment to be made into your account after your second confirmation in the BTC network. The rate you get following the second confirmation will also be fixed for you.

The second confirmation ideally takes 10 minutes on the condition that you have set a fair commission when sending BTC.

You may be wondering what the benefits of bitcoin are and why you should start trading

Bitcoin has benefits, that traditional banks don’t offer such as buying goods online without ever worrying about the conversion of currency. Bitcoin allows you to make payments without sharing any personal information like card details to the service provider. They are a digital currency and thus it is nearly impossible for hackers to intercept. One of the best and most appreciated benefits is that you can transact anonymously with bitcoin. 

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