Insights on Buying Bitcoin with a Debit Card

Insights on Buying Bitcoin with a Debit Card

Howtoken recently published How to Buy Bitcoin with a Debit Card, which reviews the rates, fees and pitfalls for seven sites that all you to buy bitcoin with a debit card. At the bottom of this post you will find a helpful table summarizing the data. Here are the top conclusions from the Howtotoken analysis:

The best sales price among the listed resources is offered by Coinbase — only a 4% fee for a debit card purchase, without any hidden surcharges. Bitpanda is a very close second with their 4-5% premium — however, users from outside Europe cannot benefit from that. Profitable deals can also be found on Localbitcoins — the platform’s fee is only 1%, and it is paid by ad creators.

The quickest buys are offered by Coinbase, Cex.io, Bitstamp and Bitpanda. They allow to for receiving the purchased Bitcoins instantly, which is convenient for trading. You should remember though that their account wallets are not secure enough and you don’t actually control them. If we include identity verification into the total purchase time though, Changelly would be the fastest as there is no such step.

The most confidential option is Changelly, which requires no ID photo — just a phone verification and a selfie with your debit card. If you are not inclined to trust an online exchange with sensitive information, opt for Changelly. But are you ready to pay their outrageously high hidden fees to stay confidential?

The most legally compliant exchanges are Coinbase and CEX.io. Coinbase is known for their strict implementation of an anti-money laundering policy, it is registered as a Money Services Business with FinCEN (USA), and it complies with the applicable laws of all supported countries. Coinbase also provides tax reporting information to help US customers fill in their tax declarations correctly. As for CEX.io, it is officially registered in the US, the UK and the EU, and has all the necessary licenses required by British legislation.

Please see the complete How to Buy Bitcoin with a Debit Card article for this and many other how-to crypto guides.

BTC Exchanges at a Glance


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