Frederick Jace
In recent years, the cryptocurrency market has exploded in popularity. Bitcoin is one of the most popular cryptocurrencies available, and it’s not too difficult to understand why. It allows people to send money quickly across borders without going through a bank or other financial institution that would take fees out of their transaction.
With more retailers accepting cryptocurrencies as a form of payment, buying it with a debit card becomes easier than ever. With this said, read on to understand why it would be best to consider using this payment method.
Buying With a Debit Card is Fast
It takes less than ten minutes to buy cryptocurrencies and transfer funds. Notably, buying BTC with a credit card can take up to five days before it clears and shows in your account. On the other hand, you can buy bitcoin with debit card in seconds. You can get started in seconds by inputting your information on an exchange or requesting that the seller send your digital currency directly.
Buying With a Debit Card is Affordable
Buying BTC with a credit card can be expensive. One of the cheaper methods to buy bitcoin is through using a debit card. Purchasing cryptocurrency through an exchange can be expensive but using your debit card lowers the cost because you’re not paying for any of the fees incurred by making transactions on financial platforms.
Also, you don’t have to worry about interest rates or late payment penalties because it’s essentially “cash” in your account. If you are paying high fees on your credit card or your bank account, you should opt to buy cryptocurrencies using your debit card is the best option to go for.
Using a Debit Card Eliminates Risk
Risk is one of the biggest challenges for new digital currency users. Among the elements that many of them worry about range from hackers to fraudsters; many dangers are lurking around every corner. However, there’s a very easy way to eliminate these risks: by using a debit card as your payment method.
Unlike if you were to use a credit card online, purchases with debit cards are protected by the “chargeback” process. If anything goes wrong with your transaction or if there’s an error on the seller’s part, you can get your money back.
Buying With a Debit Card is Convenient
Another reason why you should consider buying using a debit card is it eliminates waiting time and makes it easy to make purchases. You won’t have to wait days for your credit or debit card approval, and you can use any of the ATM’s at your bank if needed.
Using a Debit car Card is Secured
As a cryptocurrency enthusiast, what might be a priority to you is your privacy. One worry you might have about dealing with cryptocurrencies is that somebody might steal your credit card information while online. While this is definitely a real threat, buying bitcoin with debit card is arguably just as secure. This is because you can maintain your privacy by remaining anonymous. Also, purchases with this type of payment are protected, so you never need to worry about experiencing any fraud. With this said, you can have peace of mind during your transactions.
In conclusion, it is a great idea to invest your bitcoin using a debit card. You can use the ATM near you and get your bitcoins in a few minutes. Also, what is without a doubt is that there are major risks that are involved when investing in digital currency. However, to avoid such risks, using the debit card method to purchase is the right move you should opt for.
