13 Best Ways to Buy Bitcoin with Credit Card or Debit 2018

Are you a complete novice to Bitcoin trading and finding a way to invest in this flourishing market of Bitcoin but don’t know where to start? You have landed on the right place. We know how baffling it is to find the best way to invest in this thriving bitcoin market. In this article, we will guide you through the best exchanges where you can buy bitcoin with credit cards.

With the increasing demand for bitcoins, many platforms are evolving day by day to facilitate bitcoin transactions. These platforms include various payment methods as per user’s convenience, but not all of them allow credit cards for buying bitcoins. Here is a list of some of the best exchanges that allow buying of bitcoins via credit card.

Top 13 Best Ways to Buy Bitcoin with Credit/Debit Card 2018

1. Coinbase

Coinbase is the largest bitcoin trading platform across the globe. It offers various payment methods to buy bitcoins and also supports credit card as a major payment mode. It offers advanced security measures along with a low trading fee. It offers an intuitive interface for newbies along with different complex platforms for professional traders with extra trading tools.

 

Fee

Coinbase charges a fee of about 1.49% to 3.99%, with a slight increase in the fee for credit cards (3.75%). There is a limit on buying bitcoins via credit cards. Users can buy up to $150 of bitcoins per week using a credit card. Debit card payments are allowed as well without any fee being charged for it. A user has to submit their ID proofs as a verification method before using a credit card for payment. The buying and selling limits for each customer is displayed on the verification page. The limits applied depends upon the age of your Coinbase account, your activity of buying history and the level of your account verification.

 

Verification and Security

ID proof is required to verify the customers, which should be done through Google Chrome as suggested by Coinbase. High volume customers of this site will be sent a post to their provided address as a verification method. The post will contain a code, which should be entered in the address verification page. The user’s account will be sustained until this code is entered on the site. The code is valid for 14 days.

Coinbase upholds security on another level. AES-256 encryption is applied to all the servers to configure all the routing and account numbers stored in bank level. There is no room for accessing user data by third parties, as it is concealed through SSL certificate (HTTPS protocol). Additionally, Coinbase has multisig vault which provides additional 3-key security for your account and Coinbase wallet.

 

Pros

Coinbase is a popular and trusted site among users with a sleek interface. It offers various payment modes for bitcoin trading along with low trading fee comparatively. The transactions are instant and secured.

 

Cons

The transactions with respect to bank transfers require some time. The support takes some time to respond and many other countries should be included by this site.

 

(Use our link and buy $100 or more worth of Bitcoin, and receive $10 worth of Bitcoin for free!)

 

2. CoinMama

CoinMama focuses on carrying out transactions via credit card. Unlike other sites, it does not apply any limit for transactions on credit card. A user can buy about $150 worth of bitcoins without verification and about $5000 on daily basis with a limit of $20000/month worth bitcoins can be bought by verified accounts. A surcharge will be added to the services offered by this site. Users have to add a bitcoin wallet address in order to receive their bitcoins, as this site does not offer any bitcoin wallet.

 

Fees

CoinMama does not involve any deposit or withdrawal fee but involves a regular fee charged by the bank. Instead of applying various additional fee, CoinMama charges a flat fee of 6.75% overall on all the transactions. This site supports credit cards of various banks and extra 5% fee is added to the overall fee on credit cards. The credit card transactions are carried out by a processor called Simplex and the fee is automatically added to your account after entering the payment mode.

There is a limit applied to credit card up to 5000 USD/EUR per day. The limit for the month would be 20,000 USD/EUR applied to credit card.

Verification and Security

The verification process of Coinmama involves four levels. The transactions and limits applied to them are based on the level of verification of the user.

Level zero – requires you to update your phone number, ZIP code, state, and city, which will allow you to spend up to $150 on Bitcoin.

Level one – requires you to update clear photos of both the sides of your ID proof or Driver’s license, which will allow you to spend up to $10,000.

Level two – requires you to update your government issued ID proof along with your other ID proofs. Users can also update their passports. This level of verification will allow you to spend up to $50,000.

Level three – requires you to update a face-to-face recognition approved by a notary or a lawyer. This is the highest level of verification applied to the users with high levels. This level allows users to spend $1,000,000 on cryptocurrencies.

The security system uses SSL technology to mask all the sensitive information from third parties and hackers. Transaction data and personal information are kept in a database which is secured using passwords. Additional security measures are applied by different verification methods.

 

Pros

CoinMama incorporates a simple user interface with the credit card being a major mode of payment. The verification process involves submitting an ID proof generally but varies with the increase in the number of transactions made. Latest technology and methods are adapted for security purpose. This is a popular site which also offers an excellent referral program so you can make some money referring friends.

 

Cons

CoinMama offers effective methods to buy bitcoin but lack in offering users to sell them. The fee is comparatively high than other sites and the site needs to be upgraded more often.

 

3. CEX.IO

Cex.io is a popular bitcoin exchange platform, established as the first cloud mining provider. It offers multiple cryptocurrencies with more than 450,000 users using it. It has a sleek user interface with a simple verification process. The security system is built tight to avoid vulnerabilities.

 

Fees

Cex.io is slightly expensive compared to other sites. It charges a fee of 7% for bitcoin exchange with direct trading. It follows a maker-taker model, according to which the fee for peer-to-peer trading is scheduled. The maker does not involve any fee, whereas the taker fee is reduced as per increase in the trading volume. For example, if the volume reaches below 5 BTC, a fee of 0.20% is charged and if the volume is above 6000 BTC, a fee of 0.10% is charged. Deposit and withdrawal fee varies between 1.2 and 5 percent of the amount transferred. Margin trading fee is fixed at 0.2% (open fee), 0.01% (rollover fee), 0% (close fee). Credit card involves additional charges along with minimum fee and it is different for different currencies.

The site contains various packages for buying and selling limits. The basic package allows you to buy Bitcoin, Ethereum for the amounts of $100, $200, $500 and $1000. Ethereum (minimum 0.1 ETH and maximum $200 ETH) for a single order. Bitcoin (minimum 0.01 BTC and maximum 10 BTC) for a single order. The basic packages for selling Bitcoin include 0.2, 0.5, 1 and 2 Bt, while the selling of Ethereum includes 10, 20, 50 and 100 ETH. Maximum and minimum amount per single order for selling bitcoins remains same as that of purchase. Four types of account types are offered by this site (Basic, Verified, Verified Plus, Corporate), which consists of different limits. Basic account allows you to deposit $300/day to $1000/month, which involves the only payment method,i.e Visa/Master Card. The verified account allows you to deposit $10,000/day to $100,000/month, which accepts payments from Visa/Master Card, Bank transfer, Crypto Capital. No limits are applied to the Verified Plus and Corporate accounts in terms of daily and monthly transactions. The payment modes include Visa/Master Card, Bank transfer, Crypto Capital. Users should be aware of additional limits of each payment mode.

 

Verification and Security

The verification of user is a vital step before withdrawing funds in fiat currencies and raising your account for more payment limits. Identity verification involves 4 steps which include providing an identity document, basic personal information, permanent and residential addresses and scan copy of documents with the user’s selfie as well.

Payment with credit card involves 4 step verification as well. It includes providing the information of the registered card for the payment, proof of ownership in the form of a selfie with the registered card and additional photos if your identity was not verified. A CVV/CVC number along with a small fee for verification is required.

Security of this site is protected by KYC and AML regulations. Cex.io is secured with SSL technology and two-factor authentication along with PCI DSS which guarantees financial security. The personal information of users provided to this site is used only by Cex.io and third parties associated with this site. The site follows stringent rules which do not allow the third parties and the site to disclose user data. A cold storage is provided for storing your funds.

 

Pros

The site is user-friendly and offers trading and exchange of bitcoins. It is a popular site with high trading volume.

 

Cons

The number of countries involved with this site is quite less. The verification process and exchange rates are quite exaggerating. The support system is not up to the mark which is not good for the growth of this exchange, but this is the same with any exchange at the moment (and we truly hope they step up their game).

 

4. Coinhouse

Coinhouse is a Paris based bitcoin platform. Initially, it was restricted to operate within Paris, but now it operates across Europe. The transactions and payments are instant with a credit card or cash with Neosurf prepaid card available in most of the European countries. The interface is highly recommended for newbies. This site involves only two cryptocurrencies (Bitcoin and Ethereum). The verification process involves ID proofs of users. National ID proof of a user from other country is not accepted, but this site asks for the passport as an id proof. The transaction of bitcoin is limited up to 10,000 EUR/month and 2000 EUR/day.

 

Fees

The trading fee applied by this site is quite high and it depends on the trading volume and payment modes. Bank transfer incurs a fee between 6 to 10%, whereas credit card incurs a fee between 8 to 10%. The lower the trading volume, higher the fee applied.

 

Verification and Security

Coinhouse exchange adheres to KYC (Know Your Customer) and AML (Anti-Money Laundering) regulations. The verification process requires a scanned copy of user’s ID along with the selfie of the user holding this ID. Other verification details involve user’s phone number and address proof to ensure privacy and security.

Coinhouse has a feature of 3D (3DS) security, which is applied to credit/debit cards to ensure that the payment cannot be reversed, protecting Coinhouse from chargebacks.

 

Pros

Coinhouse is a popular trading site with a smooth user interface. It involves high trading volume with advanced security measures. It includes various payment methods which are an added bonus and also offers instant services.

 

Cons

Coinhouse does not involve many countries. The verification process for users from different countries is quite exasperating. Exchange rate offered by this site is quite high and this site does not offer any leverage like other sites. The transaction of bitcoin is limited to a certain amount for each user.

 

5. Bitpanda

Bitpanda an Austrian based cryptocurrency trading platform has grown as a popular site lately. The site offers various payment modes to attract users to this site. It offers three types of cryptocurrencies (Bitcoin, Ethereum, Bitcoin Cash) to date, but will soon expand it by offering many other cryptos. It is a highly reliable site and most likely in European countries. It offers the service of buying bitcoins only to European residents and does not offer this service to the users from other countries.

 

Fees

The fee structure here is not disclosed publicly, but it seems to offer lower rate as verified by a user. The fee is applied automatically when a user buys any cryptocurrency. Bitpanda charges a fee of 5% on all credit card transactions. A minor fee should be added before selling any cryptocurrency.

 

Verification and security

Security measures involve two-factor authentication and ID proof to facilitate credit card payment. The verification process is quite stringent and the security system lacks hierarchical deterministic (HD) and multi-signature methods. A limit is set on the transactions depending upon the type of verification provided by the users. A user cannot buy bitcoins but can sell bitcoins about EUR 1000/day in tokens and up to EUR 7,500/month with a verified email. A user can buy and sell bitcoins by using any payment methods apart from the credit card with verified phone number and can buy up to EUR 50/day. A user with full verification is allowed to buy cryptocurrency worth EUR 350/day and up to EUR 10,000/month, including credit card payment.

 

Pros

Bitpanda is a fully automated platform offering a variety of payment options for its users.It attracts many users with its sleek interface and upholds their security.

 

Cons

Bitpanda is not an open source and the trading fee is hidden to the public. It majorly involves only European users to buy bitcoins and not others. Hierarchical deterministic (HD) and multi-signature measures are not considered for security purpose. Limits are applied based on the verification method.

 

6. Bitstamp

Bitstamp is the oldest and reputed platform offering multiple cryptocurrencies. Novice users might find it hard to work with this platform initially. Bitstamp supports various payment modes, serving more than 50 countries worldwide.

 

Fees

Bitstamp charges on deposits, withdrawals, and trading. Generally, deposits and withdrawals can be done free of cost, but withdrawals using BitGo will charge you 0.1%. Although no fee is applied to deposits using SEPA, a fee of about EUR0.90 is charged on withdrawals with the same mode itself. A minimum fee of $7.5 is set for deposits and $15 for withdrawals on international wire transfers, which will cost you 0.05% to deposit and 0.09% to withdrawal. The fee levied on the credit card for purchasing cryptos purely depends on the amount involved in the transaction. It costs 5% ( purchases above $5000), 6% (purchases between $1000 and $5000), 7% (purchases between $500 and $1000), 8% (purchases less than $500).

For withdrawals using a credit card, a flat fee of $10 is applied to the transfers not exceeding $1000 and a fee of 2% is charged on the transfers exceeding $1000. A fee on trading ranges from 0.10% to 0.20%, depending on the trading volumes. High trading volume lowers the trading fee applied. Along with these charges, Bitstamp charges for its services and its operation such as declined cash withdrawal will charge you $0.55, a monthly account fee of about $1.95 and a democracy fee of about $5.

 

Verification and Security

Bitstamp is a centralized exchange platform. It involves two-factor authentication (2FA) and passwords in order to access funds. The moment you register your account, a mail is sent for confirmation containing user ID and password. A password should be changed immediately by signing in. The verification process involves your full name, postal address, and date of birth. A government issued ID and three-month-old utility bill should be uploaded for authentication. The site takes three days to complete this process.

 

Pros

Bitstamp is a highly reliable exchange platform with simple buy/sell interface with detailed and a bit complex interface for trading. It supports payment via credit card for many countries. Trading volume is significant, which depicts large exchanges. The site is very efficient compared to local bitcoin transaction.

 

Cons

Centralized exchange platform bearing private keys might be vulnerable. The exchange rate applied by this site is slightly expensive. Verification process might take more than three days which is unlikely among most of the users.

 

7. VirWox

VirWox stands for Virtual World exchange. It was established in 2007 by virtual world services, specializing fundamentally in Lindens (SLL) and other virtual currencies used in online gaming. Later in 2011, VirWox started accepting bitcoins and introduced PayPal, where people can buy bitcoins from it. As this is an official site authorized as a Linden Dollar reseller, also to buy/sell bitcoins directly, has gained more than 740k registered users. This feature makes this site unique.

 

Fees

The deposit and withdrawal fee mainly depends on the payment mode used. The deposit fee for various payment modes has been explained. If you use my virtual community pay terminal (PayPal) then, no fee is charged and the transfers are instant. credit/debit cards add an additional fee (EUR0.96+3.5%, GBP0.29+3.5%), funds will be available after the payment is made. PayPal Express Checkout will cost EUR0.35+3.4% fee and funds are immediately available. Sofortbanking will cost you  2.5% (min EUR0.25) fee and funds will be immediately made available. Paysafecard will cost you 20% fee and the funds are available immediately. Skrill will cost you EUR0.96+3.5%, USD 0.49+3.5%, GBP 0.29+3.5% and funds are immediately available. OKPAY is free of charge with some available currencies such as USD, EUR, GBP, CHF.

Withdrawal fee for Bitcoin(0.002BTC), PayPal (EUR 1+2%), Bank transfer and Skrill (EUR 1) fee applied on each withdrawal here. Additionally, a fee of $2 is applied for an inactive account of a user for a period of 12 months. This site has a trading limit for deposits ($90). The limits are applied for security purpose.

 

Verification and Security

This site does not require any verification for utilizing it. VirWox works on HTTP protocol, which means all the details of a user provided to this site is safe and will not be disclosed to third parties. This site is very stringent about the red policy it follows, which often results in many blocked and suspended accounts.

 

Pros

VirWox operates worldwide by offering a various and easy mode of payments. It delivers instant transfers via various methods of payments. This is a unique platform which does not ask for any verification details.

 

Cons

The trading fee applied is slightly high and it is not suitable for serious cryptocurrency traders. The support system is subpar, which should be improved.

 

8. IndaCoin

IndaCoin is a London based Bitcoin exchange platform. It offers multiple cryptocurrencies which can be bought using a credit card and can be stored in digital wallet offered by this site.

 

Fees

Fee applied here is not flat, but varies accordingly for deposit, withdrawal, and trading. The site offers three payment modes (credit/debit card, Payza, BTC-e code). I have mentioned the deposit charges for different payment modes. credit/debit card charges you a fee of about 4% of your transaction with a  minimum of $2. Payza costs you 2.9% of your transaction + $0.30 fee. BTC-e code will cost you zero fee.

There is no other option except Payza to withdraw fiat currency, which will cost you a  high fee of about 12% of your transaction. A market fee equal to 3% is applied per transaction (buy/sell bitcoins) you make.

There is a limit on buying and selling bitcoins. You can buy or sell $50 bitcoins with a minimum of $15 on your first transaction. A gap of four days is must for your second transaction which can be made up to $200. Later with a gap of seven days from your first purchase, you can buy or sell bitcoins up to $500. There is a buy limit up to $5000 for your first month to make a purchase.

 

Verification and Security

The verification process is simple with a mobile number verification to use a credit card. Security system works on HTTP protocol, which protects user data.

 

Pros

IndaCoin offers its services for more than 200 countries with the credit card being the major payment mode. It is not necessary to create an account if you are buying bitcoin from a credit card. There are no limits on transactions after few transactions are made initially. The site offers free deposits along with excellent support for its users and also offers instant service.

 

Cons

IndaCoin involves high exchange rates, allowing only US dollars as fiat currency. There is no explanation of fee and exchange rate calculation. There is no option of bank transfer and the withdrawal fee is quite high. Purchase limits on first few transactions might annoy some users.

 

9. 247Exchange

247Exchange was founded in the year 2014 and has grown as a reputed site by then. It offers services like buying, selling and trading of bitcoins to users across the globe. Bitcoins can be purchased via credit card, instant money order or cash deposit. The site works with leading fiat currencies of more than 110 countries.

 

Fees

The charges applied by this site depends on the location, payment mode and the service (buy/sell bitcoins) which is being executed. The site has mentioned about charging 1% fee for instant cash transfers. A calculator is provided for users, where they can calculate the total amount before the transaction. Exchange rates also vary with the change in market rates. Limit of $500 is applied in the first transaction, which raises according to the increase in the number of days.

 

Verification and Security

Creating an account is free of cost and the site does not even ask for any verification. It is not required to register for carrying out the transactions equal to or less than $300, which is beneficial for the users. The site does not ask for any ID verification for the first credit card transaction made by the user. For orders equivalent to $1500 or less than that requires verification of users by submitting any government ID proof. For order more than $1500, an address proof is required for verification of users. Further, a selfie, a scanned copy of your ID and a phone number will be asked for verification.

The site works on HTTPS protocol, which does not leak users details to third parties and uses valid SSL certificates.

 

Pros

247Exchange services more than 110 countries with local payment methods with its fast service. It offers multiple cryptocurrencies and also has an excellent support system for its users. It has low exchange rates.

 

Cons

The site is not so user-friendly and requires some improvement. The site was suspended suddenly a few years ago due to banking issue and many details went missing.

 

10. Bitcoin.com

Bitcoin.com is an established site, which offers a buying bitcoin service, cloud mining services for bitcoins. The operation of this site is quite different from other sites, they aim to be the one-stop-shop for everything Bitcoin. It offers to mine in terms of plans and contracts. The contracts solely belong to the user until it is making the profit. If the daily fee applied for the maintenance of the contract exceeds the profit of the user, the contract will be terminated. Lifetime plans come in three types (12-month plan, lifetime plan, lifetime pre-order1 plan). Currently, this site offers Bitcoin and Bitcoin Cash mining.

 

Fees

Fee for life plans depends on the profits. When your hashrate stops being profitable, your bitcoin mining will be terminated. The 12-month plan starts at 2 TH/s and the fee applied is $398 initial cost + $0.56 daily fee ($199 per TH/s). Lifetime plan starts at 2 TH/s and costs you $598 initial cost + %0.56 daily fee ($299 per TH/s). The cost per TH/s is always fixed.

Apart from this fee charged, using a credit card will cost you an extra fee (5%) with service fee (2.5%). The exchange rates incur around 1.5%, slightly higher than the rates of Bitstamp and Coinbase. All the credit card transactions are processed by Simplex, which will allow you to purchase bitcoins directly from the site.

 

Verification and Security

Security of this site is ensured with SSL certificate, i.e the site works on HTTPS protocol, which is encrypted and conceals users data. Additionally, two-factor authentication is set, which adds an extra layer on the security system.

 

Pros

Bitcoin.com operates in a simple manner by providing cloud mining. It consists of contracts and lifetime plans for bitcoin exchange and other transactions.

 

Cons

Bitcoin.com does not offer an effective support system. Various steps are involved in order to contact the company for any queries. The site comes with slightly higher exchange rates.

 

11. LocalBitcoins

Local Bitcoins was founded in the year 2012. Originally based in Finland, but available worldwide. It consists of peer-to-peer exchange, where the trade is carried on between buyers and sellers only. Here no platform is involved and the site offers direct trading. This site resembles a dating site. Both seller and the buyer is required to create an account on this site. The seller has to list the details of the bitcoins he is trying to sell. Buyer can see a list of sellers offering bitcoins according to the prices set by them. The buyer can contact the seller by dropping a message and can carry out the transaction with any seller as per the wish of the buyer. The site supports multiple payment methods and one of them is the credit card.

 

Fees

The site has set a very simple fee structure. If an advertisement of the seller is to be displayed, a commission fee of 1% is charged by the site. Else, the seller is free to customize the fee. The fee applied also varies with the different payment method used. Transaction to the wallet of Local Bitcoin users is free and the transaction to other bitcoin wallets will charge you some fee depending on the bitcoin network. The deposits to local bitcoin wallet will cost you some fee which is automatically applied and deducted. If the deposit amount is less than the deposit fee, then the amount will not be deposited and the transaction will be failed. If the merchant invoicing service is used, a fee of 0.5% will be deducted from the paid invoice amount of each invoice. Also, the bitcoin network fee is deducted from the invoice amount, if the invoice is paid from the external transaction.

The limits on the transaction are mutually set by the buyer and seller with an agreement.

 

Verification and Security

The site does not require any ID verification besides a valid email address to signup. However, some buyers or sellers might request for verification. The site is protected by escrow. When the trade has started, the bitcoins in the seller’s wallet is automatically reserved by escrow, which means that the seller cannot cheat the buyer by accepting the fund and not selling them the bitcoins. Meanwhile, the seller should never release the escrow before confirming the payment received by the buyer. Local trade does not cause any problems, but one should be careful while trading with another person to protect oneself from getting spammed.

 

Pros

The site is available to the users worldwide and has a transparent fee structure. The site offers direct trading between buyer and seller. The fee and the limits are customized by the buyer and seller itself. The site is user-friendly and supports numerous payment options to the users. Enabling escrow service provides guaranteed protection.

 

Cons

A user must be careful about getting spammed while trading. The fee is completely set by the seller and might charge you high sometimes. Some payment methods might be risky. One must be aware of every single thing before proceeding the transactions.

 

12. Changelly

Changelly is a recently established site, which offers to trade various cryptocurrencies. It consists of an automatic robot, which bids and asks respective exchanges the available rates on trading pairs. The site desegregates with various largest trading platforms, including Poloniex and Bittrex. Changelly has already gained more than 700,000 users. The site offers instant purchase.

 

Fees

The site mentions about the static trading fee. A fee of about 5% is applied on all the trades. Working directly on market trading platforms comes with a cheaper fee. However, Changelly seems cheaper, when you want to move altcoins, especially in small amounts. The fee applied here cannot be predicted. For example, the trade involving fiat currencies claims a fee of 0.5%, but it won’t remain the same. You might end up incurring massive cost up to 40% on a bad day. Changelly requires third-party service which might charge you an extra fee. Hence the exchange rate here is unpredictable.

 

Verification and Security

Changelly does not force you to create an account for a minor transaction. The account created is protected by using two-factor authentication. The site works on HTTPS, it is not necessary for you to confirm your email address and the funds will directly be stored in your wallet. The idea behind the features of changelly is that, if you like to trade at major bitcoin trading platforms, but would not like to create an account there, you can work on Changelly.

 

Pros

The site provides a fast and easy exchange of bitcoins and other cryptocurrencies. Fiat currencies can be exchanged for cryptos easily using a credit card. It provides an intuitive interface for its users.

 

Cons

The customer support should be improved for the better understanding of the users. There is no facility to obtain fiat currencies by exchanging cryptocurrencies.

 

13. Spectrocoin

Spectrocoin is a London based company founded in 2013. It mainly concentrates on the European market in terms of deposit/withdrawal. It offers four main services such as bitcoin exchange, prepaid debit card, a bitcoin wallet and merchant tools. Offering debit card for payment is something new which many other exchanges do not offer. The debit card should be linked to your bitcoin wallet before using it.

 

Fees

Changelly charges some percentage of fee on deposits, which totally depends on the deposit source. The fee applied to credit/debit card is up to 5.5%. Bank transfers vary from zero fees to around 4% fee. Online money transfer fee will vary from 5% to as high as 20%. A fee of 5% will be charged during withdrawal, which can even be lower sometimes.

The limit on deposits varies from one payment method to other. For debit/credit cards the limit is, 1000 EUR/day, 3,500 EUR/week, 6000 EUR/month and 15000 EUR/year. Banks have daily limits from 200 to 1000 EUR/day but does not have any weekly, monthly or yearly limits. Online money transfers also come with no weekly, monthly or yearly limits, but comes with a daily limit of 100 to 4000 EUR/day. The option for withdrawing money from Spectrocoin directly is limited to using Euro-oriented online money transfer services or use a variety of European banking services.

 

Verification and Security

An account on Spectrocoin can be created via a valid email address. To buy or sell bitcoins using a credit card or Bank transfer, a user is asked to verify the account by providing a photograph of an identification document, either a passport for non-EU residents and a government-issued ID card for EU residents. The verification process will take up to three business days.

Security setup consists of two-factor authentication via SMS, email or Google Authenticator. Additional to this the user is asked to set up security question/answer for further protection. The site also claims to offer storing user’s bitcoins in cold storage, i.e in a hard wallet or paper wallet.

 

Pros

This site proves to be very beneficial to EU residents, by offering a good deal on deposits and withdrawals, sometimes with lower fee deposits. If a user is looking to spend bitcoins in the form of debit card, then this site is worth using. The service of merchant tools is more favorable for prospective merchants waiting to use bitcoins. The support system offered is fair with live chat and email response.

 

Cons

Exchange rates on this site are slightly higher compared to other sites. The fee applied to deposits/withdrawal is not suitable for non-EU residents. There are a variety of payment options with respect to EU residents, whereas non-EU residents might face difficulty with this to use Spectrocoin.

 

Conclusion

Buying Bitcoin still feels a lot like gambling, with the volatile market of bitcoins. Bitcoin ensures huge rewards and also a huge risk. It is tempting to invest in large amounts to seep double than invested. This won’t be the case all the time. If the value of the bitcoin goes low or remains stagnant. You might end up owing money than gaining.

Well, now that people are getting used to this blockchain and bitcoin technology, numerous platforms are evolving day by day to help people in several ways. Initially, there were limited and complicated ways to pay for bitcoins. Today, with the increase in digital payment methods, even credit cards have gained importance in the world of trading bitcoins. Well, it is not complicated to use a credit card for the transactions of bitcoins at all, as various sites offer a variety of features as per user’s convenience. A user must possess complete knowledge about bitcoin trading to avoid further consequences.