How to Buy Bitcoin in India with Credit Card

Guest  |  Jan 18, 2021

With the increasing popularity of bitcoin in India as a means of payments for goods and services, individuals can buy, send and receive bitcoins electronically using a bitcoin wallet on a personal computer or a mobile phone.

 

With the peculiarity and size of the Indian market, there are different methods in which people can purchase the virtual currency. Some of these methods range from bitcoin mining to purchasing through cryptocurrency brokers and purchases from trusted bitcoin exchange sites like Remitano and a host of others.

There was a period when the purchase of Bitcoin with credit card was not possible, but with the advancement in technology it is now possible to buy Bitcoin with credit card. Buyers are to be very careful in selecting their exchange platform, series of fraudulent crimes has been perpetrated in relation to Bitcoin.

 

Purchase of bitcoin via any of these outlets usually involves payment of cash; this could be through cash deposits, bank transfers or payments through credit cards. 

 

Among these methods, this article seeks to highlight the steps of purchasing bitcoins through credit cards, pros and cons of adopting this method and most importantly drawing a viable conclusion on why it proffers a better alternative to other methods on how to buy Bitcoin in India.

 

The buying of bitcoins through the use of credit card is gaining widespread momentum as it provides a distinct method of consummating transactions seamlessly compared to peer to peer exchange which is not really advisable and P2P exchange are vulnerable since there is nothing like you know your customer before transactions and this article also highlights steps on how to buy Bitcoin in India with credit card.

 

Most cryptocurrency exchange sites accept credit cards as a means of payment and encourage users to adopt this method in fast tracking their transactions and also to avoid unnecessary delays and to reduce the chances of being a victim of fraud. 

Beginners are adviced to buy Bitcoin using credit card from trusted online platforms so as not to be defrauded and visiting trusted sites for their transactions is an ideal method, platforms like http://remitano.com/btc/in provides a user-friendly interface that will help users to buy Bitcoin with credit card easily.

 

Buying bitcoins through credit cards follow through some steps and procedures. They include the following:

 

Buyer should visit exchange sites

Like it has been noted earlier, there are so many crypto currency exchange sites from which buyers could choose depending on their preferences and buyer should ensure the authenticity of the platform. Popular cryptocurrency exchange sites in India include Remitano and a host of others.

 

Register and complete the registration process

 

After visiting the preferred sites, buyers should endeavour to register and complete the registration process in due time.

 

Choose credit card as the preferred payment option

 

It's important at this stage that the buyer chooses the credit card option as his/her deferred means of payment.

 

Choose the number of bitcoins to buy

 

This stage involves the buyer choosing the quantity or amount of bitcoins to buy depending on his/her capabilities.

 

Enter your credit card details

 

This is the final stage to be adopted when buying bitcoins through a credit card. The buyer is expected to enter their credit card details. This usually includes the credit card number, the expiry date and the security number.

 

After exploring the step by step procedure of buying bitcoins through a credit card, it's important to look at the pros and cons of adopting this method.

 

The link http://remitano.com/btc/in can be followed so as to buy Bitcoin in India with credit card.

 

Pros

 

Quick means of consummating transactions

 

Buying bitcoins through the use of credit cards provides a faster and reliable means of consummating transactions in real-time. Also, it helps in avoiding unnecessary delays.

 

It is user friendly

Payment through the use of credit cards offers a simple and user-friendly way for executing payment and often offer a secure alternative to consummating transactions.

 

Alternative payment option

Purchasing bitcoins through credit card offers a unique alternative to getting payments over the line and getting done with in due time.

 

Paying through fiat currencies

 

Buying bitcoins with a credit card allows buyers to pay in fiat currencies. This option might not be available on other exchanges.

 

Cons

Availability 

Payment with credit card might not be available on some exchange site or a particular geographical area. This represents a demerit of this method.

 

High transaction fees

Payment with credit card is always associated with high transaction fees. Depending on the bank or credit card provider, they may charge extra fees. This, in turn, makes this payment option expensive compared to other payment methods and this makes buyers to search for lower transaction fees.

 

Privacy

Using a credit card might expose the users information to the exchange site and might be susceptible to a third party.  This is one of the risks that's associated with buying Bitcoin with a credit card.

privacy

 Source: unsplash.com

Conclusion

With the growing India market, it is really a good idea when customers buy Bitcoin using their credit card and this really saves them of the stress associated with other methods of purchasing such as peer to peer exchange, buying with credit card is also very fast. When buyers buy Bitcoin from trusted online platforms like 

Remitano, it saves them the stress of getting worried over the protection of their credit cards.

 

When buying Bitcoin from online platforms, the most important thing  to do is for persons dealing in Bitcoin to ensure they deal with the right Bitcoin operators so as to ensure the safety of their cards so as not to be a victim of fraud. 

Buying BTC with credit card in India will encourage new buyers to join the cryptocurrency world.

The issues of fraud which are associated with Bitcoin purchase will be reduced when users are buying from trusted online platforms and this will improve the acceptance of Cryptocurrency globally.

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