How Do I Buy Bitcoin With a Credit Card?
Bitcoin is a versatile, easy-to-use cryptocurrency that has risen in popularity over the past few years, even as newer currencies such as Litecoin and Ethereum begin to make ground in the cryptocurrency market. For the vast majority of users that don’t have the resources to mine Bitcoin, purchasing with a credit or debit card has become the main method of obtaining Bitcoin. This guide will tell you how to buy Bitcoin with credit card, even without verification or an ID.
You can buy Bitcoin using a credit or debit card from many websites, including Coinbase, Coinmama, and Bitcoin.com. These websites are some of the most vetted Bitcoin purchasing sites out there, with thousands of users daily. Their fees range from 3.99% up to 11.95%, and with varying degrees of regulation due to government attention.
Coinbase is the most well-known and reputable website for buying Bitcoin online. Its incredibly low transaction fee of 3.99% makes it a compelling option, but Coinbase’s popularity has come at a cost: Audits from the US government ensure that tight regulations are implemented, and any profit made from the growth of Bitcoin is all but guaranteed to be taxed as income.
Creating a Coinbase account and linking a credit card to it requires a billing address and a photo ID. Luckily, this only has to be done once. After verifying your linked credit card, go to the “Buy/Sell Digital Currency” tab, enter the amount of Bitcoin requested, and select a verified credit card to use in the transaction.
Bitcoin.com is another option, with low fees of 7.5% and a simple interface. Once you arrive at the purchase portal, enter the amount of (or value of) Bitcoin requested, type in your Bitcoin wallet address, and press “Continue” to go to the checkout form. After inputting your payment and billing info, your new Bitcoins will be sent to your wallet.
Buying Bitcoin Anonymously With No ID or Verification
Most popular Bitcoin exchange websites require some form of verification or ID. However, there are some websites that allow you to buy Bitcoin using a Credit Card with no ID. In addition to anonymity, another draw of ID-free Bitcoin exchange websites is to buy Bitcoin instantly with a credit card. By removing the time needed to process verification information, purchasing Bitcoin with a credit or debit card can be done very quickly. However, these websites typically charge a premium in exchange for allowing you to buy Bitcoin with a credit card and no ID, sometimes adding up to 50% to the transaction fees.
One website that lets you buy Bitcoin with credit card while requiring no verification of your identity is BuySomeBitcoins. This website makes photo ID and credit card verification optional, offering discounts on fees if you verify. If possible, you will want to make use of these discounts: BuySomeBitcoins’ transaction fees are near 40%. On the other hand, this website allows you to buy Bitcoin with credit card instantly without having to wait for these verifications to complete, reducing the wait from days to minutes.
Signing up for BuySomeBitcoins is simple, requiring only your full name and a phone number. After signing up and adding a credit card, click “Buy Bitcoin”, select a payment amount and credit card, and click “Continue”. This will deposit to your BuySomeBitcoins account, which can then deposit to your Bitcoin wallet of choice within the “Send Bitcoin” menu. This process is a very simple way to buy Bitcoin with credit card no verification.
How Do I Buy Bitcoin Anonymously with a Credit Card?
Bitcoin has frequently been advertised as an anonymous option for payments. Since the only information needed to make a transaction is your Bitcoin address, your name, address, and other private information remain hidden when using Bitcoin. However, Bitcoin is not fully anonymous. All transactions are publicly listed. If your Bitcoin address is associated with your identity, anyone can see how many Bitcoins you have, the dates on which you have spent them, and who you sent them to.
Another issue is that you cannot easily buy Bitcoin with credit card anonymously. Since all such transactions require your name and billing address, using a credit card to buy Bitcoin partially nullifies the anonymity offered by Bitcoin. One workaround is to purchase a prepaid credit card from a supermarket or convenience store. When combined with a Bitcoin exchange site that does not require identification (such as the aforementioned BuySomeBitcoins), this method shares very little personal information and allows you to buy Bitcoin with credit card anonymously.
An even better route for staying anonymous is to buy Bitcoins using cash. LocalBitcoins is a website that facilitates transactions between two users with very little data collected. If you can find a seller on LocalBitcoins that lives near you, an in-person cash transaction can be arranged. (When signing up on LocalBitcoins, the verification is optional.)
Beyond the form of payment used to obtain Bitcoins, there are many other ways to stay anonymous when using Bitcoin. The most important step is to always generate a new BTC address for each transaction. This way, transactions cannot be linked to one another based on address. Another way to stay anonymous is to disguise your IP address using a VPN or by funneling all Bitcoin-related traffic through the Tor browser. Since most Bitcoin wallets publicly broadcast your IP address, using a VPN ensures that your wallet cannot be traced back to your computer.