Let’s go back in time, to the times where gold and paper bills were traded to pay for services, but as the barter system’s inconsistency started rising, fiat money was introduced, which is our every paper cash. The paper cash or notes and coins came with a promise of the government through the regulatory banks. Converting from paper cash into digital money happened relatively smoothly and easily. Cut to 2009, the first cryptocurrency called ‘Bitcoin’ was released by Satoshi Nakamoto’s name, and the real identity remains a secret to date. In the next section, you can read about how to buy Bitcoin using your credit card!

What is Cryptocurrency?

Cryptocurrency is a digital asset where many computer servers are interconnected to each other and facilitate the transaction of money. The databases use strong cryptography and provide a transparent system to track all the transactions, create coins, and verify ownership. There isn’t any physical format of cryptocurrency; they are regulated by a decentralized authority, making it extremely transparent compared to banking transactions.

What is Bitcoin?

Bitcoin is the most recognized cryptocurrency at the moment. It was launched in 2009, and within just a decade, the expansion of Bitcoin or the internet of money has been remarkable in its way. Bitcoin transactions are processed by an extensive network of computers running special software, so all your transactions get recorded in an online ledger that is accessible 24/7.

Since Bitcoin is unregulated and comes from a decentralized authority, it allows you to have complete control over your money, remove the middleman, and no government can freeze or confiscate your money. You can invest or buy Bitcoin and pay using digital cash for flights, bookings, or anything if your target payment gateway accepts Bitcoin.

How to Buy Bitcoin With Your Credit / Debit Card: A Guidebook

Step 1: Account creation

Go to http://www.koinal.io or download the mobile apps (available for both iOS and Android). Created your account and click on the “Buy Bitcoin” option on the homepage. All you have to do is to download any of them from App store on your Mobile and Sign Up by filling your details like phone number, email address and select the strong password.

Step 2: Verification

Account verification may take a day or two. Afterwards, you will be able to link your credit or debit card with the account for making purchase.

Step 3: Start purchasing

Once you are done with everything, you can start purchasing bitcoin. By linking your bank account and cards you can make purchase of minimum $15. Although the amount will vary on the basis of the currency you are going to use.

Step 4: Local purchase with P2P Trading 

Also if you want, you can find out a person to make the purchase via P2P. There are millions of merchants who offer this buying facility with multiple payment methods.

Step 5: Buy bitcoin via third-party payment methods

In terms of the local currency you are about to use, another reliable method of payment can be selected by you for buying bitcoin like PayPal and Mobile Wallet. 

Step 6: Checkout procedure

Once you find online, billing details should be filled correctly. Remember that online card payment possess with zero fraud risks. Then click on checkout.

Step 7: Bitcoin will be received

On finishing the payment, you will be redirected to a page with simple verification steps for obtaining your purchased crypto hassle-free and safely.

Important points to note when buy bitcoins:

Certain points you should keep in mind while you are going to use your debit or credit card for buying bitcoins. 

• Some websites will enable you make a card for them only to buy bitcoins.
• Websites-provided cards will be viewed online only and no physical card will be delivered to you in real
• Thirdly, some websites and Apps also deem for KYC
• The limit of the card and minimum purchase is entirely depended on the App and currency you choose
• If you add your personal debit or credit card then make sure you have added it and verified it on prior note
• The KYC-deemed applications and websites will consume a couple of days for making your account successfully
• Some websites and applications are made for some specific countries only
• Some applications and websites accept usage of direct banking, e-wallet and cash vouchers
• These are subject to market risks and hence you are advised to go through its details carefully
• Using of cards during making transactions via applications and websites can charge a nominal fee too
• It is better to avoid purchase via any users of the sites
• Before choosing any applications or websites you are advised to check its ratings and reviews to avoid the chance of fraud and other technical problems.

Lastly, always remember to leave positive/negative feedback based on your experience. This will help with improvements and help your fellow bitcoiners compare and make decisions with reference to your review.