You can’t expect to make any profits from Bitcoins unless you actually spend some money on them. Now, there are two ways you could go about obtaining Bitcoins. You could either mine for these coins yourself, or you could buy them by spending real money. We are here to help you with the second option. To be more specific, this article aims to guide you on the best ways and methods to buy Bitcoins with your Discover credit card. We take a look at potential exchanges to do so, and further list out the pros and cons of every alternative. Let’s dive right in.
Buying Bitcoins with Discover
The only way for you to buy Bitcoins with a credit card, be it your American Express card or a Discover card, is to look for exchanges which support the type of card you own. In order to save you from all the heavy lifting, we have actually gone ahead and compiled a list of exchanges which promise to give you the best of services at the lowest of rates.
Top 3 Best Ways to Buy Bitcoin with Discover Card 2018
Okay so first up is Coinmama, and the very first upfront advantage you get if you opt for it is that it is a pretty reputable company with good experience in the market. For something as volatile as the cryptocurrency market, you need to focus and place your trust on services which actually have the capacity to handle your money, and are well aware of what they are doing. With the vast experience that Coinmama possesses, you can at least be sure that you are placing your money in the right hands.
Secondly, Coinmama boasts of a stellar customer service team. What this means for you is that if you ever feel stuck on some aspect of your trade and feel like a little help is needed to speed things up, you can always contact their customer service department and expect a speedy and fantastic solution to your problems.
Finally, since this is cryptocurrencies we are dealing with, with rates that seem to fluctuate every single day, it seems only natural to look for a service that doesn’t delay too much in its services. We need a platform which understands the importance of time and dishes out the fastest and prompt service they can possibly manage. Fortunately, Coinmama does all of those things with aplomb.
As a service which markets itself especially as a platform to buy coins with credit cards, you can be sure that this is the right place to use your Discover card. First up, Coinmama places no limit to the number of coins you can buy. Buy away to your heart’s content. They do, however, charge a small fee, also called a premium fee for the services they offer. As for the delivery of the coins, they will be credited to your account almost instantly after you have made the purchase and a purchase confirmation will also be duly sent to your profile. Additionally, even if there happens to be a bit of a lag in the process, you can always contact their customer service department. They will clear things up pretty nicely for you.
It is a fairly simple interface that they offer to their customers, and the buying process has been made as streamlined as it can be. As soon as you log on to the homepage, you will find the option choose the number of Bitcoins you are interested in buying or selling. Once you have selected that, you get to enter the price in your preferred currency or simply choose from one of their pre-made packages. As soon as you are done with all of this, click on Buy BTC and that should redirect you to the registration page. Here, once you fill out your personal details, you will be asked to go through an additional verification process as per which you will need to submit a photo ID document. Since Coinmama is a service which focuses on customer satisfaction and contentment, it comes as no surprise that they take their security protocols with a heightened seriousness and conduct an extensive verification process. The entire process takes no more than a couple of hours, which is great. Once your account has been verified, you are free to use your Discover card to buy as much Bitcoins as you want.
Additionally, in order for the Bitcoins to be credited to the right account and at the right address, the website will most definitely ask for your Bitcoin address. You might notice this as a bit different especially when you compare it to what other exchange services in the market usually do. This is because unlike the others, Coinmama actually sends your coins directly into your wallets respectively, rather than storing them on their own platform. One of the reasons why this is so great is because now you don’t have to worry about the safety of your coins since they are at a pace you have chosen to keep them in. However, a different side to this is the fact that while other exchange services will allow you to proceed with the transaction even when you don’t have a Bitcoin wallet account, you really can’t do that with Coinmama.
Similar to Coinmama, CEX.io is a pretty reputable company with oodles of experience and a wide consumer base. They command a good share of the market and have never been known to cause any problems for their customers. Although they do have a limit as per the number of coins you can buy, however, the good news is that these limits are so high that the average customer won’t even probably notice them. Still, if you are someone who wishes to transact for high amounts and buy a really high number of Bitcoins at a time, you might want to opt for Coinmama instead of CEX.io.
However, you can’t expect a service to have all the pros and not a single con associated with it. As for CEX.io, the service suffers from the problem of low availability and reach. This means that the platform is only active in a limited number of countries, and can’t be accessed in all parts of the world. However, plans for expansion are still underway and it is quite possible that the service truly reaches the far corners of the world in the coming years.
Established way back in 2013, which gives it about years of experience in the market, CEX.io is great for buying Bitcoins with your Discover card, or rather any of your credit cards. The service is fast and the user experience has been designed to be seamless and smooth. Their overall user base consists of over a whopping 450,000 users. Among the many selling points of this great exchange platform, the chief is the fact that it is the first cloud mining provider exchange service to have hit the market. This multi-functional cryptocurrency service specializing in Bitcoins and credit card transactions currently extends its services all over the United States of America, Europe and even some countries in South America.
As with Coinmama, the entire purchase process remains simplified and easy to handle. Anyone with a basic knowledge of how cryptocurrencies work is equipped enough to operate and use the platform to buy Bitcoins and more. The first step asks you to create an account on the platform by registration and filling out your details. Once you have done that and an account has successfully been created, you are free to proceed with your transaction. First, you need to click on Wallet and subsequently on Fund. Now, you will be faced be two options. Either you can choose to wire transfer the required amount, or you can pay directly through your Discover credit card or any other credit card you want. Since we are talking about the Discover credit card today, choose the second option and further follow the on-screen instructions to easily and seamlessly buy whatever amount of Bitcoins you desire.
As an added functionality, CEX.io comes with another great feature that you would seldom find in other exchange services. It offers withdrawal services, that is, you can always opt for instant withdrawals of your money to payment cards. What this effectively means is that you get to withdraw funds either from or to any of your payment cards. However, to do that you must first link your cards to your CEX.io profile.
As per the speed of such withdrawal requests, they are generally processed automatically, and that too as soon as you happen to place the request. There is absolutely no need to login to any third party service to see through the completion of your request as CEX.io handles it all independently. You will be able to access your withdrawals almost instantly without any appreciable delays on your Visa or Master Card.
Coinhouse is another great option for when you want to buy Bitcoins using your credit card. Among the many pros of this service, the ones that stand out the most are the fact that it is a reputable company and that it allows for high buying limits. When you buy from a company of such stature and repute as Coinhouse, you can be sure that your money is going into the right hands. Also, with high buying limits, you don’t have to worry about running out on your purchase limits and get to buy as much as you want. For excessively high purchases and high-value transactions though, Coinmama is always a better option as it doesn’t impose any purchase limits on the user.
However, a limited reach of the service and some pretty high exchange rates make this service a little less likely to be as profitable for you as the other ones mentioned in this list.
As soon as you have gone ahead and confirmed your account on their portal, you are all set to buy Bitcoins for yourself using your Discover credit card. As for what the limits are, you can buy as much as 2,000 euros in Bitcoin in a single day, while a maximum of 10,000 euros per month can be bought. As per the delivery of Bitcoins, you won’t have to wait for long, as it is done as soon as the payment confirmation is done from the seller’s end.
When the Bitcoin first made its debut, people were thrilled. It was instantly deemed as the next big thing, and for a while, that dream seemed to be pretty close to reality. Unfortunately, soon enough the Bitcoin started falling. And within the span of a couple of years, it faded somewhat into anonymity. But the story was far from over, for somewhere around 2014, the Bitcoin made its return, and smashed all previously known records. The rates were sky high, the popularity was soaring and the investments flowed in like never before. At a fantastic rate, several corporations, industries, and firms were set up to cash in on the craze before it started faltering.
Fortunately this time, the popularity never dipped. Bitcoin continued to make waves and has been doing so until this date. And for good reason too, since the Bitcoin has shown some fantastic returns and is responsible for huge profits for millions of people around the world. And if all of that wasn’t enough, the cryptocurrency also paved the way for other similar industries to gain the kind of success it has managed to achieve. For example, the cryptocurrency industry at large, with all of its Altcoins, has seen a newfound interest of the general public. People are actively investing in Ethereum, Dash, Litecoins, Zcash and many more. Similarly, we have the cryptocurrency mining industry, which although not as popular as the investment arena, is still big enough to always stay profitable, and also guarantee the sales of mining hardware and rigs.