When you want to buy Bitcoin with a debit card, you’ll find it has become easier than ever, as the demand for such services has been rapidly increasing over the past few years. One of the major concerns for exchanges to start offering purchases with a debit card is security. However, thanks to two-factor verification, many platforms have now toggled on this function.
Below we will go through a detailed guide of the three best exchanges where you can purchase Bitcoin using a debit card fast. We will also discuss a debit card that comes with Bitcoin purchases integrated into their plans.
Major cryptocurrency exchanges allowing purchases of Bitcoin with a debit card
Pros: Very fast sign up and verification process
Cons: Transaction fees of 5% per purchase
Briefly about the process:
- Create the account
- Verify your personal information and wait for the approval
- Click BUY on the dashboard of your wallet and choose the payment method
- Input your debit card information and proceed with the following steps
Coinmama supports customers from all over the world and is one of the most versatile cryptocurrency exchange platforms on the market. In order to buy BTC with a debit card on Coinmama, you have to sign up and go through the verification process.
Creating an account on Coinmama takes no more than thirty seconds. You just need to enter your email address and names and select a password. Next, you should verify your email address in order to proceed with authenticating your account.
The verification information required is standard, and new users should upload one identification document in order to proceed with buying and selling on Coinmama. (National ID, Passport, Driving License, Residence Permit).
The last step before approval is to submit a selfie with your face, your ID, and a piece of paper stating the date and Coinamamas’ name.
Once you complete all these steps, the verification process is done, and you have to wait for the approval of your account. Amazingly, the approval of your documents should happen in up to fifteen minutes, which is an excellent rate, compared to other verification services.
Coinmama’s verification process is one of the most streamlined verification processes on the market. It usually takes about two to three minutes for you to go through it, and get the green light on buying crypto. Once you are on the main page after your identity was verified, you can click the buy button and select the amount of Bitcoin you would like to buy, as well as your preferred currency. Coinmama supports purchases in US dollars, Canadian dollars, Australian dollars, Euro, and British pounds.
The minimum order, Coinmama requests, is sixty dollars or the equivalent in other currencies.
After you select the number of Bitcoins you’d like to purchase, you will be redirected to another page, asking for your cryptocurrency wallet address. When you indicate the address you want to send the funds to, you will be redirected to the payment methods page.
Selecting the Credit or Debit card option shows you that you get your funds transferred instantly. However, Coinmama will charge you a 5% processing fee. The platform also indicates the exchange rate at the moment of purchase.
The last step before getting your Bitcoins is to fill in the standard debit card information and pay for your purchase.
Coinmama only supports Bitcoin purchases with debit cards issued by Mastercard and Visa for the moment.
Coinmama exchange offers several main benefits, which are attractive to users:
- Speedy verification process, as most exchanges take hours or even days to go through your documentation before approving you for purchases.
- Coinmama supports customers from all over the world, and there are no geographic limitations.
Pros: Easy to use, automated platform, full wallet integration
Cons: Available only to customers in the euro area
Briefly about the process:
- Register on the platform and confirm your email address
- Verify your account by indicating your personal information
- Deposit fiat currency (US, EUR, etc.) and buy Bitpandas’ supported cryptocurrencies
Bitpanda is a user-friendly cryptocurrency exchange, which is available to customers in the Eurozone. Creating an account on the exchange only takes about thirty seconds, as all you need to do is fill in your name, email address and create a password.
After you register, you will be asked to confirm your email address.
After you successfully log in, you can see the major cryptocurrencies available, and their current trading prices. However, to start buying bitcoin with a debit card, you will have to verify your account.
The verification process consists of several steps:
- You will need to fill in your personal details – name, address, country of residence and mobile phone.
- Choose the verification method – Bitpanda offers two types of verification processes – a light one which is completed faster, but grants access to fewer features and a full one, which takes more time, but gives you access to all the available features.
- Complete a video verification
For the purposes of saving time, and getting to the point of buying Bitcoins faster, I recommend choosing the light verification option. This option will require your personal information, your personal ID information, and biometric data (a picture of your face).
Bitpanda requires video verification in order to be sure that you are the person whose documents are being submitted for review. First, the verification program asks to see your face and requests you to show the camera the front and back of your personal identification documents. Once this step is completed you will get access to the purchasing page.
It took us about two to three minutes to get verified.
Next comes the part we’ve all been waiting for – buy Bitcoins.
In order to buy cryptocurrency on Bitpanda, you should first make a deposit in one of the four supported fiat currencies – Euro, US dollars, Swiss Francs, or British pounds.
Once you make a deposit, you can go to the trade section of the website and choose one of the many cryptocurrencies available, including Bitcoin.
Bitpanda has an interface that is pleasant to the eye and presents all functionalities in a clear and accessible way. Not only that, but the exchange has made a conscious effort to provide a good customer service, as the verification process is completed in a matter of minutes.
Briefly about the process:
Get started by creating an account. State your name, email address and choose a password
- Verify your email
- Set up your phone number for two-step verification
- Upload identity documents and proof of address
- Link your debit card and top up with fiat currency
Pros: Coinbase is well-established and secure. It also comes with an integrated cryptocurrency wallet.
Cons: The verification process takes a bit longer than other exchanges – approximately two hours.
Registering to use Coinbase is a straightforward process, which takes no more than fifteen minutes. First, you’ll be asked for your name, email address, and a preferred password.
I always recommend Coinbase to those who make sure to take an extra step of security. Personal data at Coinbase complies with GDPR regulations.
After you confirm your email address, you will be asked to indicate your phone number, as Coinbase two-step verification. Once you enter your phone number, you will have to input a seven-digit code from the SMS Coinbase sends you.
After you have successfully gone through the two-step verification process, you will be redirected to the personal information screen, where you will have to state your name, home address, your occupation and primary source of your income with the information of your employer.
The platform is also going to ask for what primary purpose you are going to use Coinbase – you can choose between Investing, Trading, Online Purchases, Online Payments, and Business.
Once you fill in all your details, you will be redirected to the ID verification screen. You can choose from three options for a verification document – your passport, your personal ID card, or your driver’s license.
After selecting a verification document you will get to choose between three upload methods for providing your documents.
We are going to stick with the recommended verification method which is through your mobile phone camera.
The final step of the verification process will ask you to supply a document issued in the last three months where your address is visible. This is done in order to verify that you live on the address you submitted earlier in the process.
This is the final step of the verification process, and after Coinbase has approved your document submissions (usually takes about two hours), you will be ready to trade on the exchange.
In order to purchase Bitcoin with a debit card, you will be asked to link your card to your account. You also have the option to transfer fiat funds by a bank order.
After selecting a payment method, you will be asked to fill in the details of your debit card and the amount of money you would like to transfer to your account. Once you’ve topped up your account with fiat currency, you will be able to buy BTC quickly.
Coinbase is one of the best-established exchanges out there, and while their verification process is a bit slower, you are guaranteed the security of your assets.
Major debit cards with integrated Bitcoin purchasing
While cryptocurrency exchanges are a popular way of obtaining Bitcoins, there are other options as well. Currently, there are several debit cards on the market which come with an integrated cryptocurrency exchange, which allows you to exchange between your fiat and your crypto in seconds. Today, we are going to take a look at Wirex, probably the most popular debit card to purchase Bitcoin and other cryptocurrencies there.
Briefly about the process:
- Sign up for Wirex online
- Fill in your names and email address
- Log in and verify your account
- Download the mobile app and verify your identity
- Order a card
Pros: Wirex is the most popular cryptocurrency debit card
Cons: There might be a risk of you not receiving your card, depending on the reliability of the postal services in your country.
Wirex is probably the most popular debit card which features an integrated cryptocurrency exchange.
To get your Wirex card, you will first have to register on the online platform. The account creation process is simple, you just put in your name, your email address, and your preferred password. Once you’ve confirmed your email, you will get the opportunity to log in to wirex.com.
When you log in for the first time, you will have to go through an account verification process, which will ask for your country of residence, your address, and your date of birth.
After submitting your personal details you will be asked to put in your mobile phone, as it will be used to verify your account.
Lastly, you will have to go through the identity verification screen, which is the final, but the most important step of the registration.
In order to continue with the verification process, you will be asked to download the Wirex mobile app via a QR code, or directly through the app store on your phone.
Once you download the app, you’ll have to log in again and you will be able to continue with the verification process. The app will ask you for your verification documents, and you can choose if you want to send your passport, your ID card, your driver’s license or a residence permit card.
You will then have to submit a picture of your ID document, and then take a picture of your face, so that the verification team can compare the two.
Once you complete all these steps you will have to wait for a confirmation email t, which usually takes about 20 minutes.
After you successfully verify your account, you will be able to click the order card button and select the preferred currency of your new Wirex debit card.
Wirex is a trusted debit card provider that allows you to choose between a number of cryptocurrencies and fiat currencies to deposit in your account. The best thing is you can spend your crypto just like regular currencies in shops and online.
Recent developments/Updates – Nov 19, 2019
Currently, there are now 48 exchanges trading Bitcoins. Convenience can come at a price, as most cryptocurrency exchanges will charge around 4% for card purchases. If delivery speed isn’t a factor, consider using a bank account to save on fees.
Please note that if you are based in the United States, most credit card purchases are disabled. Debit card purchases are still supported and one of the most popular methods for Coinbase users in the United States. Read about the fees and particulars about exchanges before deciding what’s best for you. Here are 5 top exchanges with their updated fees:
|3.99% purchasing fee||Most countries|
|CEX.io||3.9% deposit fee||Most countries|
|Bitstamp||5% – 8% purchasing fee|
Some More Options
We live in a digitized era, and it’s happy to see how many different options we have to buy Bitcoin or some other cryptocurrency.
The exchanges and cards we mentioned above are just true and tested ones. If you wish to explore more options you can check out these:
Of course, we aimed to provide the most reliable and cheapest exchanges and cards in this guide; however, all the alternatives mentioned here, are also widely popular.
In the ocean of options, you can choose from, we recommend you stick with the detailed guide above, as it can aid you during the registration phase, and make the process quicker.