How to Buy Bitcoin with Credit Card

April 11th, 2019

Purchasing Bitcoin (BTC) has been made a whole lot easier with the new upcoming technologies such as Wire Transfer, Cash App and Credit Cards. There are a few exchanges supporting this purchase and Bitcoin of America is one perfect example. This platform allows its users to buy up to $599 using their credit cards. Also, the platform offers same day settlements.

Most exchanges require that users own a digital wallet. Therefore, you might need one before you can buy BTC. A digital wallet is a software program that stores private and public keys and at the same time interacts with various Blockchains to allow users to send and receive crypto coins. Before you can use BTC or any other cryptocurrency, you will need a digital wallet.

A Bitcoin wallet can either be in form of an App, an electronic device or a website. There are different types of digital wallets;

  • Hardware Wallets –such as the Ledger Nano S or TREZOR
  • Hot Wallets –these are wallets that run on an internet-connected device
  • Cold Wallets –these offer offline storage for Bitcoins. They are often stored on platforms that are not connected to the internet.

Bitcoin of America Buying Tutorial

1. Create an account on Bitcoin of America, enter and confirm your personal details, (email address and password) and then log in.

2. Once you are logged in, you will be prompted to verify your account before buying BTC via Credit Card.

3. Under the verification process you’ll be required to;

  • Provide your 9 digit Social Security Number (SSN)
  • Explain the purpose for your crypto purchases
  • For security purposes, you will be asked if you are purchasing BTC for payment to someone else
  • If the transactions are your own, you will be required to state that they  are for your wallet
  • You will also be prompted to explain whether your funds are coming from your employment, inheritance, mortgage, bank loans etc.
  • You will also need other supporting documents such as, a picture showing yourself holding ID card, other pictures showing the back and front of your ID, two month bank statements and your most recent tax returns.

4. You’ll then see a menu prompting you to select either Buy or Sell.

5. You will then be prompted to enter the amount of BTC you intend to buy.

6. On the right side you’ll see an arrow indicating a roll down menu, click on it to select the currency you intend to pay with.

7. Just below that, click on Credit Card to select the payment mode.

8. Enter your wallet address on the rectangular bar indicated Coin Address

9. Click on Clear to sign your name

10. You’ll see a tiny red box on the far left end. Click on it to agree to payment terms and conditions

11. Finally click BUY and complete your transaction. The coins will then be sent to your wallet.

Register with Bitcoin of America

Get Started
Bitcoin Of America Bitcoin Of America 888-502-5003 support@bitcoinofamerica.org