• By admin
  • August 26, 2019

How to buy Bitcoin with Credit Card

how to sell ethereum

How to buy Bitcoin with Credit Card

How to buy Bitcoin with Credit Card 784 383 Crypto Crow

HOW TO BUY BITCOIN WITH CREDIT CARD

The History behind Bitpanda

Bitpanda’s enthusiasts Christian Trummer, Paul Klanschek, and Eric Demuth are the brains behind the revolutionary platform. After one of the biggest waves of bitcoin in 2013, the founders first witnessed how hard it is to trade bitcoins in Europe. The three founders seized the opportunity and Coinmal was started.

Cryptocurrencies traded by BitPanda

In July 2017, Bitpanda introduced the all in one Ether wallet. The wallet allows users to access and monitor their funds without leaving the exchange’s interface. Bitpanda supports the following cryptocurrencies and fiat currencies GBP, EUR, CHF & USD

Bitcoin (BTC)

Ripple (XRP)

Litecoin (LTC)

Bitcoin Cash (BCH)

Dash (DASH)

Ethereum (ETH)

BitPanda features some of the key features that make Bitpanda a notable exchange website include:

As a financial asset, cryptocurrencies are associated with security compared to other modes of exchange. Using cryptography, they are secure enough as they are, however, they still come with some volatility and some accountability issues. In a volatile and fast-moving environment, a one-stop platform where you can trade cryptocurrencies for fiat currencies and vice versa makes the much-needed difference. BitPanda has innovatively employed the use of decentralized servers which are less vulnerable to cyber-attacks.

Storage

It goes without saying, once you own a bitcoin you will need a place to store it. Whether you are looking forward to a surge in the market prices before you trade or keeping your valued crypto away from unsolicited hackers, decentralizing your storage will make you less susceptible. The pertinent question of whether you should buy a wallet has been replaced with which wallet you should get. Once you create an account with BitPanda, you can attach an external wallet or use one provided by Bitpanda once your account is active.

Favorable exchange rates.

The Bitpanda exchange rates are relatively higher since you trade altcoins and bitcoins which you can chargeback. When trading on the platform you will discover that they charge an extra small fee when exchanging the fiat currencies and cryptocurrencies.

Fast and reliable services

It is often hard to keep up with the customers’ demands on moment’s notice, however thanks to strong API applications, Bitpanda lets you order your currencies within minutes up to 24 hours.

Getting started on Bitpanda

When starting out on the platform, first, verify your email address which is provided alongside other relevant personal information. The verification process also includes a video identification process. The service is provided by partner companies IDNow and IdentityTM. Once your document is ready you are connected to the selected provider. Next, a verification document such as an ID photo is required during a session on a smartphone or webcam.

The platform is fully automated, therefore, as soon as the payment is confirmed the cryptocurrencies are sent to the buyers automatically. This is meant to make the services and processing of payments faster.

Storing your cryptocurrencies

Once you complete your registration Bitpanda provides you with a free wallet. The wallet is custom build in every account for the purpose of storing the crypto before or after a trade is made. However, these wallets are intended to store crypto for only a short time. Within a short span of time exchange sites such as bitpanda transact millions worth of cryptocurrency, which makes them a target for malicious attempts. While the list of hacked exchanges continues to grow, Bitpanda is yet to report such incidences.

The significance of Bitpanda

Cryptocurrencies are structured to be a decentralized currency, they do not have any central unit controlling their use and are only issued by computer run codes. Cryptocurrencies have become significant and highly valued due to their scarcity and people have agreed that it is more-less equivalent to money, meaning anyone with a computer from all over the world can use it.

This is impressionable for many reasons, however, in some countries, it has become almost essential to trade in cryptocurrencies. Not every country has a stable regional currency as stable as that of the Euro or Pound. Cryptocurrencies allow citizens from any part of the world, sometimes held back by the whims of their corrupt governments, to use an unrelated currency. This makes the transfer of wealth from their home borders to other parts of the world easier.

These effects of exchange platforms such as Bitpanda are crucial. In the earlier days of cryptocurrencies, the currency was only accessible through arcane methods or methods that were only available to influential world powers. As a result, people from minor countries were disadvantaged, but with exchange sites like bitpanda the degree of financial independence across Europe and the world has increased.

Pros

Operates in a large part of Europe. Supports eight different cryptocurrencies. Since it’s an automated platform, transactions take minimal time. Accept multiple payment options. Provide cold storage for the additional security option.

  • It is a fully automated platform, with instant transactions
  • It provides a wide variety of payment options
  • BitPanda is good for beginners

Cons

  • Only European members can buy the cryptocurrencies from BitPanda
  • It is not an open-source
  • The fees are not disclosed to the public
  • There is a lack of hierarchical deterministic (HD) and multi-signature protocol, which raises privacy concerns and security

Users have complained of higher fee charges and lack of transparency. They lack margin trading. It’s not open to US investors. Some emerging coins such as IOTA which is on-demand are missing. Claims of unanswered queries from the support team are common.

BitPanda is the leading retail exchange for and selling cryptocurrencies. It is similar to the mother of all cryptocurrencies, Bitcoin. BitPanda has swiftly emerged as one of Europe’s most sought-after, popular cryptocurrency brokers. This Austrian based cryptocurrency broker offers a bevy of payment options. It allows traders to diversify in premier tokens like Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ripple, etc. It began as a Coinimal in the year 2014, offering sell-side services worldwide. Currently, BitPanda sells its cryptocurrencies only to European members.

Is BitPanda available worldwide?

Well, technically BitPanda offers sell-side services to countries all over the globe. Like we have already mentioned, it only provides ‘cryptocurrencies’ to the residents of Europe.

What are the payment methods available for BitPanda?

As mentioned earlier, BitPanda offers a wide range of payment methods making it a very smooth and easy way of making transactions. Therefore, we have made a list of the available options for making a payment.

  • Credit card (Visa, Mastercard)
  • EPS
  • SEPA
  • Online Bank Transfer
  • Skrill
  • OKPAY
  • Giropay
  • Neteller
  • SOFORT transfer (available only in Germany, Austria, Poland, The Netherlands, Belgium, Italy, Spain, and Switzerland)
  • Visa/Mastercard Debit or Credit Card

The credit card being the most popular method in BitPanda, the list below compares the credit card exchanges.

  • Exchange: Coinbase, Fees: 3.75%, Countries: USA, Europe, Canada
  • Exchange: Coinmama, Fees: approximately 6%, Countries: Global
  • Exchange: BitPanda, Fees: 5%, Countries: Europe
  • Exchange: CEX.io, Fees: 3.5%, Countries: Global

Is using BitPanda safe?

BitPanda offers good security protocols to its customers, with a two-factor authentication process and an ID verification for enabling credit card payments. However, security is not as good as the other cryptocurrency service providers like Bitcoin.

What are the options for limits and liquidity?

The company offers different levels of verifications based on the amount of information you provide them with.

  • Verified Email: A user with only a verified email cannot buy bitcoins but can sell up to 1000 EUR worth of bitcoins per day. It can exceed up to 7500 EUR monthly.
  • Verified Ph. Number: A user with a verified mobile phone number can purchase bitcoins via any payment methods, besides a credit card. The user can buy up to 50 EUR per day.
  • Verified ID proof: A user with a verified ID proof can purchase bitcoins with a credit card up to 350 EUR per day and 10,000 monthly. And for other payment methods, a user with a valid ID proof can purchase up to 5,000 EUR worth of bitcoins and 75,000 EUR monthly.

What are other factors of bitpanda?

Speed: BitPanda has various payment methods for making a transaction, giving users an instant option to buy and get their bitcoins delivered. However, SEPA users take about a day to complete and a user will have to wait for it to arrive in their wallet.

Reputation: The company was previously named Coinimal. In two years, it had garnered trustworthy goodwill and a good reputation for doing business, earning a start-up award in the year 2016. Since then there has been no stop to it. The company has now emerged to be one of the most sought-after cryptocurrency dealers in all of Europe and is leading the market.

Fees: The company has low fees but they are not disclosed to the public. These fees are included in the buying price of the customers when checking out the buying and selling options.

Customer Support: The company has a good customer support service for requests and complains. They are solved quickly, without any delay via the support request forms on their websites. It is easily accessible.

Conclusion

The popularity of crypto-coins has risen over the years and as a result, the trade exchange has significantly risen. Despite there are comparatively fewer exchange platforms, Bitpanda has proven to be highly secure, affordable and in the long term adequately managed. They have managed to stay at the forefront of Europe’s market and all for a good reason, to say the least. Moreover, Bitpanda is a stable exchange platform that is unlikely to fail in terms of security and finances. The merits of confidence shown by its users are impressive considering the highly competitive trends emerging.

Coinmama Review 2020

Coinmama Israel based company. It is one of the most popular bitcoin brokers, specialized in the selling of the cryptocurrency like bitcoins by using the credit card and it is available to anyone from anywhere in the world. This company was founded in 2013, registered in Slovakia. The owner is New Bit Ventures Limited based in Israel. This is one of the best platforms on which you can easily purchase ethereum and bitcoin with the help of debit and credit cards. This platform may not facilitate you to trade or sell cryptocurrencies. The transaction of this company is more secure because all the funds gathered from the purchasing of the cryptocurrency by the customer are directly transferred to the holdings of the company. It is by far the easiest and the fastest way of purchasing ethereum or bitcoin, but it also deals with cardano, ethereum, classic, litecoin, Ripple XRP,Bitcoin cash, and QTUM.

coinmama review


Positive aspects

• The services are available for various countries.
• Responsive and fast customer services.
• You can easily purchase higher amounts of bitcoin by using the debit or credit card.

Negative aspects

• The fees for purchasing with the help of debit and credit cards are quite high.

Liquidity and limits

One can avail of the highest buying limits in Coinmama as they accept the credit card. You can easily purchase a $5000 cost of BTC every day and $30,000 every month.

Speed

It won’t take you more than 10 minutes to complete the initial verification. When the initial verification is completed, you can easily purchase the bitcoin and it will be delivered instantly.

Reputation


This is one of the oldest broker businesses and this company has sold several bitcoins with the help of debit and credit card when compared to other companies.

Fees

It will definitely charge you a higher amount when you purchase by the credit or debit card and it is nearly 6%.

Customer service

You can easily reach them using the email.

Other alternatives to coinmama

Bitpanda: Bitpanda is also an Austria based bitcoin broker company. It will offer you several kinds of payment methods at a good price.

CEX.IO: If you want to purchase the bitcoin by using low fees with the help of a credit card then this is the best option. You can also purchase it for free by using bank transfer.

Coinbase: If you want to get a huge bitcoin broker company then this is probably the most popular and largest company that has spread its foothold among 30 countries. You can purchase bitcoin with the help of SEPA transfer, connected accounts, interact online and many more.


How to register yourself and verify the account?

Currently, there is no application available for Coinmama. It has not yet released the API for enabling the customers to create the custom application which will be compatible with their platform. Due to the KYC regulations, Coinmama now carries the verification on all purchases. To make the purchase of certain amounts the user will have to verify the identity by using the official government-issued ID card for AML and KYC purposes. They will also have to provide their full name, gender, date of birth, address, debit or credit card number. You will have to provide the two sides of the document in order to verify your account. The verification will be carried on after the documents are submitted and it should contain all the below-mentioned requirements.


• Proper visibility in the entirety.


• Good quality images.


• Documents which are valid and the expiry date is clearly visible.


• They can only upload the file size of a maximum of 8 MB.

How to make the purchase?

For purchasing the bitcoin you will have to use the credit or debit card. You don’t have to register your card for purchasing the cryptocurrency on the exchange. So here it is not mandatory for verifying your identity and you can make the purchase once you have registered. In the beginning, you will have to pick the amount which you want to buy and then you have to enter the wallet address for filling out all the card details and it will lead to the checkout page. The details of the card of the customers will not be stored by Coinmama. Once the payment is completed the transaction will be processed by credit card within a few seconds before it is getting transferred to the wallet of the customer. After the completion of the confirmation of the wallet address and payment, the cryptocurrency will be sent directly to the user’s account. You can purchase cryptocurrency of a minimum amount of 60 USD.

Coinmama will not provide you with the online wallet for storing the cryptocurrency on the exchange. So you will have to create your own appropriate wallet where the exchange can directly send the cryptocurrency once you have purchased. You will be provided with the email link for confirming the wallet address and it will also check whether your address is proper or not. This is the reason why customers won’t be able to purchase the cryptocurrency on behalf of others.

Coinmama Fees

The transaction fees for Coinmama are quite high when you are comparing it with its competitor because you will have to make a payment of 5.5% on every transaction with Coinmama. When you are purchasing it, the fee will be included in the rate of the cryptocurrency. When you are making a transaction using a debit or credit card you will have to pay an additional fee of 5%. This fee will be added once you choose your payment method. It can also charge you with the cash advance fee if the financial institution is viewing this transaction as the cash transaction. So when you transact using Coinmama, make sure to have those additional 10% fee with yourself.

Purchase limits

Coinmama will provide you with high buying limits when you are making transactions using credit cards. If you are a verified user then you can make a purchase of $5,000 every day and $30,000 every month. The daily limit will last for 24 hours till the limit is reached and the monthly limit is 30 days. All the pricing will be displayed in EUR and USD but it will currently add all the additional currencies. It will accept orders of all currencies and you will have to pay some exchange fees if you are purchasing with the fiat currencies in place of EUR and USD.

The user can purchase the cryptocurrency depending on their verification level. The better documentation which user provides will help them to avail of more cryptocurrency purchases. It should be kept in mind that regardless of what user level you are, you will be provided with the same monthly and daily limits. So these levels are as follows.

Level 1: You will be able to make a purchase of 15000 USD if you are a level 1 user. In this case, all you have to do is provide valid government-issued identification.

Level 2: The user of this level can make a purchase of 50000 USD. For gaining this level of advantage you will have to provide two valid government-issued identification along with the utility bill or the user’s selfie in which they will be holding the ID.

Level 3: When you provide the maximum limit of authorization you can purchase cryptocurrency up to 1 million USD. For gaining this level of verification or authorization, you will be asked to fill out a form that you will have to submit back to Coinmama.

Coinmama Customer Support

You can easily contact the customer support through emails and you can easily get the extensive list of the frequently asked questions on the website. You will also get a review of the previous customers. The response time of this company is excellent and all your queries will be replied consistently within 24 hours. But on public holidays you may have to wait a bit longer.

Conclusion

Coinmama offers it’s users a plethora of advantages, including instant purchase using a debit or credit card, accessibility, high buying limits on a daily basis but it also has a lot of negative aspects.

• This platform is quite limited to buy orders only. Unlike most exchanges, this website will not allow you to trade your bitcoins or cryptocurrency and hence the utility of this website is very basic. Moreover, it will not help you in buying back the currency. So if you want to sell your cryptocurrency then you will have to collaborate with any other exchange for doing so.

• It is true that it accepts debit and credit card payments from every country in the world, but it lacks in providing flexibility in other payment options like SEPA or wire transfer.

• The developers are thinking of adding more cryptocurrencies in the near future but currently, it only supports Ether and Bitcoin.

• Due to the unavailability of the mobile app, it is not so convenient for the users to easily purchase the cryptocurrency quickly or even check their balance.

One of the best advantages which Coinmama can provide you is to effectively give you the facility of having a secure digital wallet. The exchanges are the targets of the hackers so this website does not promote leaving the cryptocurrency on the exchange. So they will not hold any information on your cryptocurrency so you can effectively create your own digital wallet.

Coinmama has a very good reputation within the cryptocurrency community because it has a trustworthy, honest, and safe broker. It lacks many additional features that other competitors may provide and it is not so cheap so you will have to pay in order to have a secure and efficient cryptocurrency purchase.

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