There are a lot of different methods by which to buy Bitcoins. There are some platforms with which you can buy Bitcoin with credit cards, or debit cards, or cash deposits, or even through PayPal, though the latter of these options is risky.
However, most of the exchange platforms you use require a high level of verification. They’ll need you to send government documents, photos IDs, etc. When dealing with cryptocurrencies, one of the thing most people are concerned with is privacy. As such, such a high degree of verification turns them away.
Out of all the great cryptocurrency exchange platforms in the market, only a few of them give you the ability to buy Bitcoin with credit card anonymously. In this article, I’ll tell you about the 5 best ways to buy Bitcoin with credit/debit card anonymously.
However, before we get to that, I’ll give you a few friendly tips and advise to get you started.
- While Bitcoin is the oldest and most popular cryptocurrency out there, Ethereum is on the fast lane to catching up. Its value has grown exponentially in the last year and it shows no signs of stopping. As such, many experts believe you should invest in Ethereum.
- If you’re buying Bitcoin, you should also get yourself some reliable bitcoin cash wallet to store them in. There are a lot of online wallets and hardware wallets in the market. However, online wallets can be hacked as they’re always, well, online. I would recommend using hardware wallets like Ledger Nano S and Trezor as they’re the safest means of storage.
Comparative Table of 5 Best Ways to Buy Bitcoin with Credit/Debit Card Anonymously
The following is a comparative table of the 5 Best Ways to Buy Bitcoin with Credit/Debit Card Anonymously. You can use it to help narrow down your search and look for the best platforms.
|Coinmama Review||6.15%||Good||226 countries and 24 US states||Buy|
|Changelly Review||0.5%||Okay||Global, with Credit/Debit restrictions||Buy|
|Bitcoin ATM||N/A||5-10%||Great||Check Map||N/A|
PART 1: LocalBitcoins
LocalBitcoins is currently the most popular peer-to-peer cryptocurrency exchange platform in the market. In fact, it was the first p2p platform to have been started for cryptocurrencies way back in 2012. It acts as a meeting place for buyers and sellers of Bitcoins or any other cryptocurrencies out there. Furthermore, you can hold transactions using any payment method that the seller agrees upon, and you don’t have to go through any verification steps.
LocalBitcoins acts as an Escrow Account. You have to deposit your funds into it and the seller has the deposit the Bitcoin into it. Once both individuals have complied, the funds and Bitcoins get released to the relevant individual.
However, because it’s a p2p platform with minimal verification, you’ll also find a lot of fraud and scam advertisements. You need to be experienced enough to identify them. However, if you’re a beginner you should be very careful and follow all the guidelines strictly. Before finalizing any transaction, you should also go through the fraud or scam warnings.
How to Buy Bitcoins with Credit/Debit Card Anonymously using LocalBitcoins:
- Go to LocalBitcoins.
- Enter the amount of Bitcoins you want, along with your desired payment method and city details. The latter is only necessary if you want to buy from locals specifically.
- You’ll find a list of all the sellers who meet your requirements. Go through their profile, past transactions, feedback, reputation, etc, and make sure they’re genuine.
- Send out a “trade request” to them.
- Use your credit/debit card to deposit the relevant funds in the escrow account. Wait to receive the Bitcoins. Once you do, release the funds to the seller.
If you’re looking for a visual representation of the process, check out the following video:
Geographical Availability: LocalBitcoins is available across the globe.
Fees: LocalBitcoins charges a 1% transaction fee, but only from the sellers, not the buyers.
Read: LocalBitcoins Review
PART 2: Coinmama
Coinmama is one of the most simple and straight forward platforms in the market. However, it also has an extremely limited functionality. The only cryptocurrencies it supports are Ethereum and Bitcoin. That’s alright because we just need to buy Bitcoin. Furthermore, they only allow you to buy the Bitcoin, you can’t sell them or trade them. That’s largely because Coinmama doesn’t even offer a storage space. As such, when you initiate the payment, you also have to enter your Bitcoin wallet address.
However, it’s still incredibly popular because if you’re a beginner looking to buy your first Bitcoins, this is ideal. Furthermore, you can buy Bitcoins to a value of $/€ 150 without going through even basic verification. You simply enter the amount of Bitcoins you want, enter your wallet address, make the payment with credit card anonymously, and voila!
How to Buy Bitcoins with Credit/Debit Card Anonymously using Coinmama:
- Go to the homepage.
- Select “Buy Bitcoins” and enter the amount of Bitcoins you want to purchase.
- Select ‘Credit/Debit Card’ as your payment method.
- In the next step, you’ll have to enter your Bitcoin wallet address.
- Select “Proceed to Checkout”.
- You’ll have to fill up a form, confirming all the details.
- Finally, click on “Pay Now”.
Next, you’ll see an “In Process” sign for a while as Coinmama confirms the payment has gone through. Once the verification is done, you’ll receive the Bitcoins in your wallet within 10 to 20 minutes.
The following visual guide will show you how to buy Bitcoins with Coinmama using your credit card:
Geographical Availability: Available in 226 countries and 24 US states.
Fees: 6.15% transaction fee, plus an additional 5% for credit/debit cards.
Read: Coinmama Review
PART 3: Paxful
Paxful is another peer-to-peer exchange platform that’s quite a lot like LocalBitcoins. It’s a platform where buyers and sellers can meet and strike deals. You deposit funds to the escrow account and release them when you receive your Bitcoins. Furthermore, no verification is required.
However, just like LocalBitcoins, the lack of verification can also be risky. It means a lot of scammers can also use the platform and prey on the gullible and beginners. As such, you should be careful, follow all the guidelines, and vet your sellers thoroughly by going through their profile.
How to Buy Bitcoins with Credit/Debit Card Anonymously using Paxful:
- Go to Paxful.com and sign up.
- Enter your email address and confirm it through the verification link.
- Go to Payment Methods > Credit/Debit Card. Enter your card details.
- The card will need to be verified by quoting the amount of transaction that has been made on it.
- Enter all your buyer details. Enter that you want Bitcoins, and how much of it.
- You’ll find a list of sellers offering Bitcoin. Select one that seems legit by vetting their profile.
- Send a trade request.
- Transfer funds via your credit/debit card to the escrow account.
- Receive the Bitcoins and transfer them to your wallet.
- Release the funds from the escrow account.
The following video will give you a step-by-step visual guide:
Geographical Availability: Paxful is available across the globe.
Fees: Buyers aren’t charged any transaction fees from Paxful. Sellers are only charged 1%.
Read: Paxful Review
PART 4: Changelly
Changelly is an extremely young exchange platform, however it’s quite popular because it doesn’t require you to go through any verifications.
How to Buy Bitcoins with Credit/Debit Card Anonymously using Changelly:
- Register with Changelly. You just have to enter and confirm your email address.
- Select your preferred payment currency and Bitcoin.
- Enter the amount of Bitcoins you want to purchase.
- Enter your wallet address as Changelly sends coins directly to your wallet.
- Click “Confirm & Make Payment”.
- Click ‘Pay with Visa/MasterCard’.
- Fill in the card details.
- Enter your card’s linked phone number.
- Wait for a phone call with a digital code. Verify the card by entering the code.
- The Bitcoins will be sent to your wallet in 5 to 30 minutes.
If you have any other questions, you can read their FAQ.
Geographical Availability: Changelly is available across the globe.
Fees: The transaction fee in Changelly is just 0.5%.
Read: Changelly Review
PART 5: BitCoin ATM
These days you find a lot of Bitcoin ATMs in certain cities and countries. You can buy Bitcoins directly from these ATMs by using your debit/credit card, and there’s no identity verification necessary
However, that anonymity and ease comes at a high cost. To be precise, the transaction fee in Bitcoin ATMs can be as high as 5-10%.
This video will show you how to use Bitcoin ATMs:
Geographical Availability: Check the Map for Bitcoin ATM availability.
Fees: High transaction fee of 5-10%.
These are all the different methods in which you can buy bitcoins anonymously with credit/debit cards. My personal recommendation would be to use peer-to-peer platforms such as LocalBitcoins and Paxful as they charge no transaction fees and are easy to use. However, you should exercise extreme caution with them.
If you have any other questions about these methods, do comment down below and I’ll get back to you!