Quick Overview: Top 3 options to buy Bitcoin with Discover
|Paxful||GET STARTED →|
|CEX.io||GET STARTED →|
|Localbitcoins||GET STARTED →|
Buying bitcoin using a discover card is not straightforward because most exchanges do not accept credit cards as a payment method. I know how frustrating it can be when you discover this after signing up on an exchange. Let me save you from that trouble, after trying a good number of exchanges and methods to buy bitcoin with Discover, I have listed the top options below.
Paxful is the best option to buy bitcoin using a discover credit card. Localbitcoins did not have sellers 8/10 times I checked. You can find more options in the list below but I recommend the top two as the others might discontinue the option anytime.
Top 4 Best Ways to Buy Bitcoin with Discover Card 2021
Paxful hopes to make financial services available to lots of people globally. Peer to peer finance enables Paxful’s traders to buy BTC and other cryptocurrencies from other traders directly. It does not require mediators, banal, or other large corporations. This community of more than 3 million users has direct control over their finances. So how do you go about buying Bitcoin with Discover on Paxful?
Discover for Bitcoins on Paxful
Sign up for an account on Paxful and get access to your free Bitcoin wallet.
With this account, you have the option to choose your mode of payment as Discover and the amount of Bitcoin you wish to purchase. Search for offers that meet your requirements.
Make sure you read the terms and conditions. If satisfied, enter the amount of Bitcoin you want to purchase. Start the trade by opening a live chat with the seller. Follow instructions from the seller and make the payment. The seller will then release the BTC to your Paxful wallet directly. Here’s a list of sellers offering bitcoins with Discover as a payment option.
You can then use the Bitcoin as usual. With over 300 methods of payment available, Paxful makes it easy to trade with Bitcoin.
CEX.io is a pretty reputable company and supports credit card payments. 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 Paxful.
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.
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.
LocalBitcoins is a trustworthy peer-to-peer marketplace that lets buyers and sellers trade Bitcoins. It has been described as the Craigslist for BTC, allowing buyers and sellers to interact directly.
How to Buy Bitcoins with Discover Cards
Buying Bitcoin with Discover is easy on LocalBitcoins. Here is a list of steps to buy BTC with Discover.
Register on LocalBitcoins
Register on LocalBitcoins and get access to a free and secure bitcoin wallet. The registration is a simple process that gets over quickly. If you already have an account, feel free to skip to the next step.
Search for trades
The main page has a search box that can be filled with the amount of BTC you wish to buy. Fill in the payment method as Discover and continue to filter according to your region preferences. Proceed to search.
Select a trade that fits your criteria
A list of advertisements fulfilling these criteria is available. Choose a trader with a good reputation score and high trades. The response time indicates the expected response time of the trader in question.
Pay the Seller
On pressing the Buy button, information about the trade and terms and conditions are made available. Read through, submit the request and enter the message to initiate a trade with the seller.
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.
What is the best way to buy Bitcoin with Discover Card?
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 that support the type of card you own. It’s hard to find mainstream exchanges accepting Discover payments, this is why the top options are mostly peer-to-peer platforms or exchanges that have P2P as an option to buy and sell bitcoins.
Can we buy Bitcoins on Coinbase with Discover?
Coinbase doesn’t accept credit cards as a payment option and Discover is a credit card. The payment option for US customers is mentioned here, do not be fooled by fake messages and emails that offer you to help with bitcoin purchase on Coinbase using a credit card.
Can we buy Bitcoins on Paypal with Discover?
Paypal doesn’t allow customers to use credit card as an option for buying bitcoins. This will not change in the future as credit cards might be an easy way for scammers to transact and not pay the bills.
It is clear that most exchanges do not accept credit cards as a payment option and hence you have limited options to buy bitcoin with discover. Luckily, there are exchanges like Paxful and Localbitcoins which facilitate this through a peer-to-peer set up. You might have to pay a higher price for bitcoin when compared to mainstream exchanges but that’s the premium you’d be paying for the flexibility. I will keep the list updated when I come across more methods that allow Discover cards as a payment option.
Anish loves reading, researching, and writing about crypto and blockchain. He started his crypto journey early in 2017, what started as a fad is now a full-time hobby. He curates guides after thorough research on platforms and is responsible for the most in-depth guides on the site. You will find him walking his dog (not Doge) when he is from his Laptop.