Know How to Buy Bitcoin Through Credit Card in India
The year 2018 has been a turning point for the cryptocurrency universe which led to a massive and surreal growth in valuations and its user base. Also, during this period many new exchanges launched its services offering their customers bouquet of services with attractive payment clearance system. But, heightened regulatory hurdles and extremely high volatility, multiple payments gateways and financial institutions have stopped supporting the system including the use of credit cards to purchase cryptocurrencies.
This article focus on the options available in the Indian market to purchase Bitcoin using Credit Card. Since Indian exchange doesn’t allow credit card purchases in Bitcoin due to regulatory hurdles, we will look into some options available on the international level.You’ll need a Visa or MasterCard that is enabled for international purchases.
Coinmama.com
Coinmama is an international exchange that allows its users in almost every country including India to buy Bitcoin and Ether using a credit card. But, the charges are enormously high i.e. 6 percent fee on each purchase transaction.
For making purchase of more than $150 worth of Bitcoins, the users are required to verify their identity
CEX.IO
This UK registered exchange allows users to purchase Bitcoin using bank transfers, debit cards, and credit card instantly. The exchange also has a Money Services Business status in FinCEN (USA) which makes it recognizable at the international level.
CEX.IO accepts any type of card including both Mastercard and VISA which makes the purchase complete in 5 minutes. The exchange charges 3.5 percent plus $0.25 to process a buy order using a credit card and 2.9% + $4.99 for USD to sell bitcoins to credit or debit cards.
Bread Wallet
Bread wallet which has announced its launch this week has planned to allow international Bitcoin purchase using a credit card and will be directly stored in the wallet. There are not many details about this arrangement.