Did you know prepaid credit cards can buy crypto?
Being flexible in how you buy your Bitcoins can help you to become a better investor.
One option crypto enthusiasts often overlook is the safe and secure prepaid card. Buying crypto with a prepaid card works like all cards and will buy crypto on the leading platforms out there.
What Is a Prepaid Card?
A prepaid card is a plastic card, a number or paper voucher that only stores the sum of money you put on it.
It works like other cards but with a few features you might not be familiar with. Prepaid cards can be given as gifts, or you can use them to manage your own crypto purchases.
Most cards don’t expire, so for as long as you hold them, they’re ready to use as you need them.
What’s best of all is that the major crypto exchanges generally let you buy BTC with a prepaid card, but you must vet the brand you’re using. There are limits with certain companies.
These cards are also easy to find. They’re available via online purchases or in convenient stores. Just keep in mind that each card has to first be loaded with money in order to work.
Now, want to know “can you buy crypto with a prepaid card?” Read on to find out how.
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Demonstration—How to Buy Bitcoin With a Prepaid Card
Buying Bitcoin with prepaid cards is pretty straight forward.
Just imagine that it’s your actual debit or credit card. Proceed to buy Bitcoins with your prepaid card in the same manner, and that’s it. It’s simple and highly reliable.
Here’s how to buy Bitcoin with prepaid cards:
1. Where to Get It
Search the web for prepaid credit cards, and then choose one that suits your location and preferences. Among the leading providers are MasterCard, Visa and Binance.
2. How to Top It Up
You can add money, “top it up,” when you’re registering the card.
You will be asked for an amount you’d like to deposit, and that value gets paid from another account or card you link. Depending on the service provider, you’ll then be able to add more money when the sum you first deposited depletes.
To do so, simply go to the web portal you started at, enter your card details, the amount to renew with and submit.
3. How to Pay for Crypto Using It
You can now buy crypto with your card when you choose a platform that accepts this payment type. When you’re asked for your payment, select either voucher, gift card or prepaid card options. Enter the card details, and submit.
What Are the Benefits of Buying Crypto With a Prepaid Card?
You’ll benefit in more than four ways when buying crypto with a prepaid card:
- *Privacy—Though completely legal and secure, there’s no identity tied to your use of a prepaid card. The card number only refers to the issuer and not any personal data about you or your purchasing activities. You might need to register when loading a card, but using it is anonymous.
- *Acceptable—Crypto investors have no trouble finding places where their prepaid cards are accepted. As long as the platform accepts your typical Visa and MasterCard, then you’re free to buy Bitcoin with a prepaid card directly through any card you’ve loaded.
- *Limited Spending—Unless you immediately add more money to your prepaid card, it’s impossible to spend more than you intended. This is a great advantage in risky markets when you buy Bitcoin with prepaid debit cards.
- *Greater Security—Crypto is fun to buy and own, but there are still a number of risks when you transact online. Due to this, prepaid cards can be used as an extra measure of security. The money you can lose is capped, and the data related to your bank account isn’t used.
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Are There Risks to Buying Crypto With a Prepaid Credit Card?
The crypto market is inherently risky, but you won’t incur more risks with prepaid cards. Once you understand how to buy crypto with a prepaid card, the process becomes easy and safer.
Regardless, when you buy BTC with a prepaid visa, crypto can be:
- Unstable
- Volatile
- Slow to Load
- Unregulated
Here are the pros and cons when you buy cryptocurrency with prepaid cards:
- As good as cash
- Widely accepted
- Limited spending
- Crypto is still volatile
- Not all exchanges accept prepaid cards
- Not all countries have access to them
Is It Safe to Use Prepaid Credit Cards to Buy Crypto?
You’ll find prepaid cards, overall, safer when buying crypto than you would otherwise. For starters, the amount is limited, protecting you from spending or if markets turn against you.
Only what you have on a prepaid card is exposed to loss.
Since you’re also not using your bank account, you’re not using routing or accounting numbers to expose to the web. Even if someone else or a crypto wallet is what loaded the card, no personal data is used.
How to Use a Prepaid Card for Buying Crypto?
Let’s start with some simple steps to buy Bitcoins with a prepaid visa.
Here’s how you buy Bitcoin with a prepaid credit card:
1. Find a Provider
It’s imperative that you start with a reputable card provider with security measures in place and a wide acceptance in the market. Each card, when being created, will prompt you to set an amount you want loaded. Depending on the agency, you can then reload the card as needed.
2. Choose or Verify an Account
For the most secure transaction available, it’s often best to register your trading account, which might call for registering through KYC verification. Plenty of other apps don’t require KYC, so it’s up to you and the exchange you choose.
3. Check Prepaid
Among the choices you have for buying, you’ll see options to use crypto, a debit/credit card or a prepaid. If you have a platform that accepts prepaid, choosing this option is all you need.
4. Buy Your Bitcoin
Now, simply add in the data on your card, and continue to finish your transaction. Once completed, the cash amount in your card will convert to Bitcoin.
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Can You Buy Crypto With a Prepaid Card On any Exchange?
Not all crypto exchanges accept prepaid cards. However, many popular ones allow you to buy crypto with a prepaid visa and will not penalize you with additional fees.
Every exchange is different and provides different policies regarding the use of prepaid cards. Overall, the leading exchanges have no problem with you paying with a verified prepaid card.
Where Can I Buy Crypto Using a Prepaid Card?
Want to find out which wallet accepts prepaid cards?
Here are some of the crypto exchanges that accept prepaid cards:
Most Accepted Prepaid Cards to Use On Exchanges
Here are some of the best prepaid cards to buy crypto with:
- VISA—No credit check is required to order and then load a VISA-prepaid card. You will also avoid being charged overdraft fees and will benefit from no expiration date on the money. It’s easy to learn how to buy Bitcoin with a prepaid Visa card.
- MasterCard—Boasted as “safer than cash,” the Mastercard prepaid option is “digitally enabled,” so you can get one from the comfort of home. You won’t even need a bank account when registering to buy Bitcoin with a Mastercard gift card.
- Exchange Gift Cards—You can also buy crypto with a prepaid gift card as another type of prepaid option to use on exchanges like Binance, Bitnovo and Crypto Voucher. Using these is an alternative for prepaid cards.
- MiFinity—The prepaid voucher from MiFinity is secure and fast to order. The agency is a payment processor and is ideal if you’re running a business that accepts crypto. Depending on your needs, MiFinity can also be used as a crypto wallet.
- PayPal—As an alternative, you can now buy crypto vouchers with PayPal. However, the voucher, itself, is for crypto only and can’t be used for other purposes.
- Neosurf—This option presents itself as a type of gift card, but depending on where you see it, it can buy crypto for you. When you receive such vouchers, you get a set of numbers/letters.
- CASHlib—This is a leading provider from the UK, and you won’t need a bank account. CASHlib, in fact, makes itself accessible to crypto traders. Transactions on this prepaid option are fast, secure and limited to the money you load.
Who Accepts Prepaids?
| Crypto Exchange | Card Vendor #1 | Card Vendor #2 | Card Vendor #3 | Card Vendor #4 |
| Binance | Visa | MasterCard | PayPal | Gift Cards |
| Nexo | Visa | MasterCard | PayPal | Gift Cards |
| KuCoin | Visa | MasterCard | PayPal | Gift Cards |
Restrictions on prepaid cards accepted by crypto exchanges vary widely depending on the country. For example, Mir cards, primarily used in Russia, are generally not accepted on exchanges outside Russia due to international sanctions. Similarly, UnionPay, widely used in China, faces inconsistent acceptance on global platforms. Cards like JCB and RuPay also encounter limitations based on regional restrictions, affecting their usability on international crypto exchanges.
Conclusion
It’s fast and easy to get into crypto through the safety of prepaid cards.
Simply choose the provider with the most flexibility, and then register a card without even connecting your bank account. You can add as much money as you want, and you can then add more later on.
Learning how to buy Bitcoin with a prepaid card makes you more flexible.
If you’re looking for additional security, privacy or safety against risk, then prepaid debit cards are it. You’ll leave no data traces but will still buy all the Bitcoin and Altcoins you want.
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