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 2020
If you are on the lookout for an option where you can invest in cryptocurrencies, and store them all in a single place, then you need not look further than Abra. The mobile Bitcoin Wallet application offers support for up to 28 cryptocurrencies – all of them available for purchase in one place. The application is quite easy to access, being available on both, the Play Store as well as the App Store.
The Abra team has made the investing process easier, and the developers of Abra have made sure that users do not have to look in multiple places to invest and store their cryptocurrencies. Abra has made things easier by storing multiple cryptocurrencies in a single place so that the users do not have to constantly switch between apps to just gain access to their digital assets.
Abra provides multiple options to add funds to your wallet. This makes a great way to buy bitcoins using discover cards. The method of investing depends on your country of operation, and for most of the countries, there is an option to add funds either through fiat currencies or through digital assets in the form of cryptocurrencies.
Adding funds via fiat currencies has been made easier since there are options to add funds through your bank account, credit/debit card, and cash (only available in the Philippines). The option to add funds through bank accounts are available only in the Philippines, United States of America, and throughout Europe. Adding funds through credit or debit card or cryptocurrencies, however, is available all around the world.
The Abra application uses Bitcoin as an underlying asset for investing into other cryptocurrencies. Abra offers the provisions to check and track prices, t and the profits and losses on your investments and provides access to the investments, all in one single user-friendly interface. There is no need to download and access multiple applications, just to get the benefits of the features that Abra is providing in one place.
Since the market is volatile and the prices change multiple times within a second, there is a need for faster transactions t. Abra prides itself on being one of the fastest systems to invest in the 28 cryptocurrencies that the application supports. Nearly 50 fiat currencies are supported by the system, providing an instantaneous service for users to invest in crypto assets.
Transparency is one big issue when it comes to cryptocurrencies. There are companies, which operate like shells – they stack up enough capital and then collapse without a trace. What gets left behind, are lawsuits and investor losses. Abra has steered away from such controversies, providing detailed information about each of its employees.
The company’s values are founded foremost upon on transparency and honesty, whether it is with the employees or the customers and partners. Their goals are oriented to provide the best long-term service to their customers. They welcome ideas for making their interface better, to serve their clients in a better way. There is progress being made every day, and the complete information about it is available on the website and the blog.
Investing Using Abra
Investing in crypto assets should be an instantaneous process since prices are always fluctuating. When you open the website, there is a section that allows you to purchase Bitcoin with a credit card. All you have to do is enter the amount against which you wish to purchase the bitcoin or enter the number of bitcoins that you want.
After that, you will have to enter a wallet address where you wish to receive said bitcoins. This wallet address must be under your full control since the assets are high in value. An offline wallet is recommended for this transaction so that you can store the asset under your full control.
The other way to purchase bitcoins is through the Abra application. After you have downloaded the application and signed up on it, there will be an automatic creation of a wallet within your application. Since customer verification is a stringent requirement, you will also need to submit your KYC documents before you can make the purchase.
This wallet will have its wallet address so that you will not have to worry about entering it within the application again. After this, you will see an option to add money. You can either do this via Bitcoin, Mastercard or Visa, bank transfer, Litecoin, or Bitcoin Cash, or any other option that is available in your country.
After that, it is simply a matter of completing the payment. If you are doing it through crypto assets, you will have to enter the wallet address that is created within the application to your other offline, or exchange wallet and then send the cryptocurrencies to the Abra wallet.
Otherwise, you will have to see which of the banking methods are available in your country and follow the steps through the guided panels on the application. Once you have added the funds into your wallet or added the bitcoin into your wallet, you will see options exchange those funds with the cryptocurrencies or fiat currencies that are available in the list.
Withdrawals have also been made easy on the Abra application. You can either withdraw the funds in the form of Bitcoin, Bitcoin Cash, or Litecoin or get the funds directly into your bank (available only in the United States of America and Philippines).
There is a referral program for the Abra application too. For each friend that you invite using your unique Abra link, you will be rewarded with $25. Another great feature about the Abra wallet is that there is no transaction fee on the exchange between any cryptocurrency pair. The company makes money on the spread between the buying and the selling of the cryptocurrencies.
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.