Tech

5 Ways to Buy Bitcoins with a Bank Account

Bitcoin is a form of electronic cash

Shishir Mahmud
26th Dec 2018
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Bitcoin is a form of electronic cash. It is a cryptocurrency i.e is a digital asset designed to work as a medium exchange. Bitcoin transactions are verified by network nodes and recorded in the blockchain. The blockchain is a public ledger which records bitcoin transactions. Bitcoin was invented by an unknown person or group of people. Bitcoins are created as a reward in a game. It maintained by a process which is known as mining. Mining refers a record keeping service. It is done through computer processing power. It is also used as an investment. However, we have a question that, how to buy bitcoin with a bank account. The answer is, there are many ways to buy Bitcoins with a Bank Account. If we properly follow these way can easily buy Bitcoins with a Bank Account. We are here discuss 5 Ways to Buy Bitcoins with a Bank Account.

Before buying you should know about something. If you have a credit or debit card it is used to be very hard to buy Bitcoins. You'll need a Bitcoin wallet before you buying Bitcoins. We’ve discussed 5 way of exchanges for buying bitcoins with your credit card.

Exchanges Bitcoins by Coinbase

Coinbase is the world's largest and popular Bitcoin broker. You can buy up to $150 or €150 of bitcoin per week with your credit or debit card in the United States, Canada, Europe, United Kingdom, and Australia. Coinbase charges a flat 3.99% fee. A step-by-step guide on how to buy bitcoins with a credit card on Coinbase:

1. Firstly, you should create an account on Coinbase. Then you open your account on Coinbase.

2. Secondly, you should connect your credit card to your Coinbase profile properly.

3. Thirdly, you should verify your ID with Coinbase.

4. Finally, you are ready to buy bitcoins using your credit card.

Coinbase has some pros which are- It is easy for newcomers to get bitcoins and it has the feature of “Instant Buy” option. Besides pros it has some cons which are- It takes 5 days to complete bank transfer, it tracks how and where you spend bitcoins.

Exchanges Bitcoins by CoinMama

CoinMama also a popular Bitcoin broker which purchase bitcoin with a debit or credit card. It charged a 6% fee due to the risks and processing fees. A step-by-step guide on how to buy bitcoins with a credit card on CoinMama:

1. Firstly, you should create an account on CoinMama.

2. Then you should log in to Your Account.

3. Then you should verify your Identity

4. Then you should upload and verify your ID

5. Then you should Bitcoin wallet

6. Then you should Select Payment Method

7. Then you should Select Amount of Bitcoins to Buy

8. Then you should enter your Bitcoin Wallet Address

9. Then you should Enter Card Info

conclusion of how to buy bitcoin with bank account, CoinMama has some pros which are- It works almost all countries, highest limits for buying bitcoins, Reliable and trusted broker. Besides pros, it has some cons which are- highest fees among credit/debit card bitcoin brokers.

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