Don’t want to wait days for bank transfers to go through? Want to buy bitcoin instantly? It’s possible to buy Bitcoin using a credit card. And the best part is, is that the entire process can be completed in a matter of minutes.
This means you can take advantage of price drops and buy into Bitcoin instantly.
Buying Bitcoin on Coinbase
In my opinion Coinbase is the easiest way to buy Bitcoin online. Although Coinbase is based in the U.S, they fully support Australian customers. And they also allow credit card payments for Australians as well.
The process of buying Bitcoin using a credit card on Coinbase is fairly simple:
- Signup here
- Go through the verification process – this is really quick and involves you uploading a picture of some identification and taking a selfie 🙂
- Buy Bitcoin!
There are a couple of things you should be aware of when buying bitcoin through Coinbase. First, the fees may be slightly higher than other platforms. This is because of credit card fees. However, i’ve found the price and exchange rate offered by Coinbase is very competitive. I tested this by buying Bitcoin on both Coinbase and Australian based CoinSpot at the same time, and was able to buy more Bitcoin on Coinbase using the same amount of money I used on Coinspot.
The second thing to be aware of is that Coinbase has limits to prevent fraud. You’ll only be able to purchase ~$2000 of Bitcoin per week. If you’re looking to make larger purchases you’ll need to either spread it out over multiple weeks or use another site.
Can you trust Coinbase?
Coinbase is currently the worlds largest seller of digital currency. They’ve got a good reputation and although they’ve had scaling issues in the past when interest in bitcoin surged, they’ve managed to fix these issues and things are much smoother now.
Buying Other Cryptos
As well as Bitcoin you can also purchase Ethereum, Litecoin and Bitcoin Cash on Coinbase. And of course they can also be purchased with a credit card.
So there you have it, the easiest way to buy bitcoin using a credit card. Let me know in the comments if you’re using another platform.