So people have been asking me how to buy Bitcoin or other cryptocurrencies with a credit / debit card. There are some major exchanges like Bittrex and Bifinex that don’t offer the option of directly depositing money to your account, you have to buy your Bitcoins somewhere else and than transfer them to their exchange. The one I would definitely avoid is Kraken, their support system is the worst I have ever experienced and some of my friends had their accounts and money frozen for months, opening new tickets and receiving non personalised answers. I had good experience with Bittrex and Coinbase.
I cannot say that I have explored every possible option but I can tell you what works for me and what also others have confirmed that works reasonably fast. You can literally have your money on a exchange in 10-15 minutes. Please note that for withdrawals you will need to add additional verification, I don’t think there exists an exchange that would allow you to withdraw money without any type of photo ID verification.
The fastest way to buy some Bitcoins or other cryptocurrencies for me is to open an account on Coinbase. You do have to verify you personal ID but the process is automated which makes it blazingly fast. I still have my account on Kraken under processing status for months now and I don’t even care as I will never deposit any money there. How can I trust someone who doesn’t process my photo ID application for months and friezes money deposits and accounts for weeks and months without any person you can get in contact with.
This might also interest you
Earn 13% interest with bitcoin lending
You don’t directly deposited you money on Coinbase but you buy one of the cryptocurrencies that they offer. The most common option to buy is Bitcoin as if you want to trade some Altcoins (alternative cryptocurrencies) this will be your middle man in buying other coins. You can just buy and hold Bitcoin, Ethereum or Litecoin, this are the cryptocurrencies that they offer or you can send your Bitcoins to other exchanges that offer more option in other cryptocurrencies.
Here is a great post on how to transfer your money / Bitcoins from Coinbase to Bittrex.
How to send money to Bitfinex
If you have read that post and watched the video you now know how to transfer money from Coinbase to Bittrex and the same process applies for Bifinex you simply send your Bitcoins to the generated has address that you had to generate in their account. The only difference I see is that they have 3 types of wallets (Exchange Wallet, Margin Wallet and Funding Wallet) you want to send your money to Exchange Wallet.
This might also interest you
Earn 13% interest with bitcoin lending
Related posts