Credit cards are the most popular way of purchasing Bitcoin, despite the relatively high fees, it's still more convenient compared to the alternatives like bank transfers, which require you to wait for days until you complete the transaction and get the Bitcoin, or Bitcoin ATMs that aren't available everywhere and have even higher fees. If you want to use a credit card to purchase Bitcoin, you’ll have to open a Plasbit account and perform the full know-your-customer process. Your account name must be the same as the cardholder’s name. To buy BTC with credit card go to the deposit section, enter the amount you wish to buy, select buy with credit card, then enter your card details and you will receive the Bitcoin in your wallet.
Example of a Crypto Adopter’s Story
James heard about Bitcoin reaching $90,000 and became interested in investing $3000 in BTC. He was looking for an easy and convenient way to purchase it instantly at the current market price so he wouldn't miss the low price due to the significantly longer processing times with bank transfers or Bitcoin ATMs, which can take days, making him miss the buying opportunity. To achieve this, James can open an account on Plasbit and buy Bitcoin with his bank card. He successfully bought the Bitcoin at the price of ~$90,000 and managed to sell it two days later when it reached $101,000, making a profit of around $366. If he’d used another method, such as bank transfer, he’d potentially miss out on the profit because he wouldn’t be able to buy it on time.
Step by Step Guide on How to Buy Bitcoin With Credit Card on Plasbit
Step 1 – Go to the Deposit section, choose the currency and the amount you want to buy, and click "Deposit."
Step 2 - Select Bitcoin. Verify the amount is correct, then agree to PlasBit card terms and conditions and click “confirm”.
Step 3 - Add your card details and click “Add Card”.
Step 4 - After confirmation, the amount of Bitcoin you purchased will be shown in your PlasBit Bitcoin wallet.
Can I Buy Bitcoin With Credit Card Without KYC
It’s hard to find a platform that allows you to purchase Bitcoin, and other cryptocurrencies, without leaving personal information. One might ask Can I Buy Bitcoin With Credit Card Without KYC? Yes, You can buy BTC with credit card without going through a KYC process, you will be required to fill out a simple questionnaire allowing you to purchase Bitcoin in sums up to $50 each time, with a maximum of $150 per day and $500 per month. Even if some websites promise anonymity and do not have the user complete KYC, they can still charge your credit card, and only then will "surprise" you with a KYC process that hasn't been mentioned before. The user needs to know that the companies will not send the Bitcoin to your wallet unless you complete the KYC, and by this, they "trap" your Bitcoin, forcing you to give out your personal information and sometimes ask you to give out information that is impossible to get. The KYC process isn’t meant to be intrusive and to gather your information in any exploitative way. It’s necessary for crypto businesses to implement KYC in order to prevent criminals and politically exposed persons from misusing the platform for law-breaking and money laundering.
Price Prediction for the Price of Bitcoin for the Following Years
The price prediction for Bitcoin in the following years is that in 2026, Bitcoin value will be at a minimum of $152,221.69, and its yearly average price of $169,308.15, with a maximum price reaching $176,422.88.
The price prediction for Bitcoin in the following years is that in 2027, Bitcoin value will be at a minimum of $249,152.71, and its yearly average price of $287,341.67, with a maximum price reaching $255,998.21.
The price prediction for Bitcoin in the following years is that in 2028, Bitcoin value will be at a minimum of $366,358.83, and its yearly average price of $430,562.42, with a maximum price reaching $378,233.88.
The price prediction for Bitcoin in the following years is that in 2029, Bitcoin value will be at a minimum of $524,971.54, and its yearly average price of $642,986.75, with a maximum price reaching $541,484.79.
The price prediction for Bitcoin in the following years is that in 2030, Bitcoin value will be at a minimum of $751,853.75, and its yearly average price of $916,409.17, with a maximum price reaching $773,513.17.
The Bitcoin price prediction is based on Changelly’s statistics and research. Most importantly, the company used opinions on Bitcoin prices from CEOs of companies such as SkyBridge Capital, Gemini Exchange, and MicroStrategy. However, Bitcoin is exposed to external factors, which could further impact its price. To see the portion of the market that Bitcoin has, we take a look at something that’s called market cap. This value is the total value (in fiat) of all Bitcoin in circulation, calculated as: Market Cap = Current Price X Circulating Supply. Bitcoin makes up 40% of the cryptocurrency market, and its limited supply of 21 million is driving the demand up. At the time of writing this article, Bitcoin’s market cap is $1.56T. While Bitcoin is decentralized, a significant portion of its supply is controlled by large holders and investors from companies. This concentration reduces liquidity for regu lar users and can lead to market manipulation in some cases. As Bitcoin takes up more of the market, it attracts both government scrutiny and institutional investments, leading to regulations that can restrict its use. These regulations can also cause problems for individuals looking to purchase and sell Bitcoin.
Can I Buy Bitcoin With Credit Card
As discussed before, credit cards are the most convenient way of purchasing Bitcoin, as you don’t have to worry about transaction times and overall accessibility. Of course, higher fees will be involved, but it’s nothing compared to crypto ATMs. The use of credit cards is expected to grow, which leads to the natural question of whether can I buy Bitcoin with credit card? Yes, you can buy Bitcoin with credit card. In order to buy Bitcoin with a card you need to go to the deposit section, enter the amount you wish to buy, enter your card details, and you will receive the Bitcoin in your wallet.
Can I Buy Bitcoin With Debit Card
Many people opt for debit cards to make purchases instead of credit cards. The reason behind this is that credit cards give you access to a line of credit issued by a bank, and you have to pay interest if you spend above the line, while debit cards deduct money directly from your bank account, so you can’t spend more than you have. People can manage their spending without worrying about accumulating debt and eventually paying interest. However, you must ensure your debit card supports international or online transactions. Buying Bitcoin with a debit card is the exact same process as buying it with a credit card, and it is possible through the platform, so if you ask the question, can I buy Bitcoin with debit card? Go to the deposit section, enter the amount you wish to buy, select buy with debit card, then enter your card details and you will receive the Bitcoin in your wallet.
State of Bitcoin
Cryptocurrencies were a niche interest for tech, cryptography, and finance enthusiasts. When we look at it now, we see millions of adopters that form this ecosystem. We have developers, investors, businesses, miners, educators, holders, and even financial institutions that are a part of the Bitcoin community. We can separate some of the important players in this industry into a few categories:
● Bitcoin wallet providers: Companies that develop hardware and software wallets for users, allowing them to store, hold, and transfer Bitcoin and other cryptocurrencies.
● Exchanges & payment gateways: Platforms like Plasbit enable users to conduct basic functions like wallets and stake and exchange crypto.
● Miners: Miners are some of the most important people and communities for cryptocurrencies. They are responsible for validating transactions and maintaining the network’s integrity. Mining not only provides miners with Bitcoin, but it’s also essential for ensuring that transactions are verified.
● Developers & open-source community: Bitcoin’s software is open-source, allowing developers worldwide to contribute to its security and innovation. Bitcoin’s developer community proposes updates, which can be implemented only if they are voted for by the users.
The global Bitcoin community has millions of people who play different roles. We have developers and innovators who find new ways to implement Bitcoin and make the protocol better. Of course, investors and holders who believe in the long-term value of Bitcoin make up a significant portion of the ecosystem. They use Bitcoin to store wealth similarly to gold, or they leverage its volatility for financial gains. The community is joined by more and more merchants and businesses that are starting to accept Bitcoin as a form of payment.
Technology behind Bitcoin
Bitcoin is powered by blockchain technology, a digital ledger. This technology works in a way that all transactions are recorded and that anyone can see them. However, no one can reverse a blockchain transaction once it’s made. No single person, company, or organization in the world controls Bitcoin since the system is decentralized. All transactions have to be verified by the global network of computers, commonly referred to as nodes. Once a transaction is made, there is no way to reverse it. It also can’t be altered. This can seem like a problem because people might want a refund on something they bought, but it’s actually an advantage that prevents fraud and double spending. Traditional currencies can lose value due to inflation. Currencies lose value because of poor governmental policies that lead to printing too much money, decreasing the currency's purchasing power. Bitcoin can’t suffer from inflation because it has a limited supply of 21 million coins. To mine Bitcoin, users use computer hardware, most commonly GPUs or special rigs, to solve complex mathematical problems. This computational work verifies and secures transactions on the Bitcoin network. Miners compete to solve cryptographic puzzles, and the first to find a valid solution adds a new block to the blockchain. In return, they receive a block reward, which consists of newly minted Bitcoin and transaction fees from the included transactions. The initial reward was 50 Bitcoins, and it currently sits at 3.125 Bitcoin. This number is halved every four years, and it will continue like that. Because of this, Bitcoin has a deflationary model as it gets progressively scarce.
No Banks, No Borders, No Limits
Besides its transparent and decentralized nature, Bitcoin offers a number of other advantages. Most notably, you can make Bitcoin transactions globally without worrying about governmental restrictions. Compared to bank transfers, you don’t have to worry about waiting times and high fees. The only fees that you’ll encounter are the ones associated with regular transaction fees for Bitcoin. Traditional currencies can be devalued due to inflation. As we’ve explained, this simply isn’t the case with Bitcoin, making it a great hedge against inflation. Furthermore, no government can seize or devalue Bitcoin through excessive printing or policy changes. There are millions of individuals in underbanked regions. This makes accessing financial services hard. Many people don’t fulfill the requirements for making bank accounts due to their low income. On the other hand, anyone with a smartphone and internet access can start making transactions using Bitcoin. Unlike banks and financial markets, Bitcoin is accessible 24/7. Many individuals find having to wait for the bank to open tedious and time-consuming. Furthermore, all transactions made on the Blockchain are instant, compared to waiting days for traditional transfers in some cases.
List of Common Credit Card Declines When Purchasing Bitcoin
When you buy BTC with credit card, it’s often streamlined, but there could be certain problems that you might experience. To start off, many card issuers block cryptocurrency purchases by default. This is due to the card issuer blocking high-risk transactions. You can contact your bank and try to allow such transactions or simply switch to another provider. Merchant Category Code (MCC) Restrictions can cause problems. Banks use MCC codes to categorize transactions. If a credit card provider classifies cryptocurrency purchases under a restricted MCC, the transaction may be automatically declined. There are multiple problems that could occur, which have straightforward solutions, including:
● Insufficient funds: Obviously, you don’t have enough money on your card, and to solve this, you need to deposit more funds.
● Incorrect credit card details: When buying Bitcoin with your credit card, make sure that you’ve typed the details correctly. If you have multiple credit cards, make sure that you’re using the right one for this purchase
● Reaching spending limits: If a provider, like Plasbit, prevents you from making a buy BTC with credit card because of spending limits, you should wait a day, month, or year, depending on the limit that you’ve reached.
● Compliance issues: Not completing the right level of KYC verification can lead to transaction problems. Make sure that you’ve provided the platform with all the right documents, such as explained below.
Bitcoin Purchase Limits on Plasbit
There are multiple levels of KYC verification for Plasbit services. This way, we can allow everyone to use our services, even if they aren’t ready to share all of their financial information. The KYC process ensures that the business is compliant with anti-money laundering and financial regulations. We’ve separated the verification level into three different levels, progressively requiring more information and allowing higher limits per transaction. The levels are:
● Level 1 - Simplified Verification: Includes filling in First Name, Last name, Date of birth, and complete address
● Level 2 - Full verification: Includes ID verification and a liveness check.
● Level 3 - Enhanced Due Diligence: This involves submitting additional financial information, such as bank statements and proof of the source of funds.
Besides the KYC level, your purchase limits will vary based on your region and the currency that you’re using. You can use different types of cards, including credit and debit, but transactions made by citizens of prohibited or sanctioned countries won’t be made. Whether you’re looking to purchase Bitcoin or another cryptocurrency, the minimum purchase amount will be 5$ worth of cryptocurrencies. Regardless of the cryptocurrency that you purchase, the value contributes to the total spending limit. So, if you’re at level 1 KYC, and you purchased $300 of Bitcoin and want to purchase $250, you won’t be able to do so as it will go over the maximum yearly limit. Instead, make sure that when making transactions, you’re mindful of the total limit or be ready to get to the next KYC level. Before you make the purchase, you’ll be able to see the fee that you’ll pay. When you confirm the transaction, it’s final and nonrefundable, so make sure to check your details and information multiple times before you make your decision. Below are the maximum limits for USD and other currencies, so make sure that you get to know your limitations:
USD
| KYC Level | Maximum Limit Per Transaction | Daily Maximum Limit | Monthly Maximum Limit | Yearly Maximum Limit |
|---|---|---|---|---|
| 1 | $50 | $150 | $500 | $500 |
| 2 | $3000 | $5000 | $25,000 | $100,000 |
| 3 | $3000 | $10,000 | $50,000 | $200,000 |
Other Currencies
| KYC Level | Maximum Limit Per Transaction | Daily Maximum Limit | Monthly Maximum Limit | Yearly Maximum Limit |
|---|---|---|---|---|
| 1 | GBP and Euro - $100 / Rest $50 | $300 | $1000 | $3000 |
| 2 | $3000 | $15,000 | $50,000 | $100,000 |
| 3 | $6000 | $30,000 | $100,000 | $200,000 |
Conclusion
Purchasing Bitcoin for beginners might seem complex, but it’s actually not harder than making any other purchase using your credit or debit card. You should ensure that you’re using a legitimate platform and that the fees fit your financial goals. Our step-by-step guide provides you with everything you need to know about purchasing Bitcoin. Regardless if you’re looking to buy BTC with credit card as an investment or use it for daily purchases, make sure that you’re aware of its advantages and expectations. If you stumble upon any problems related to buying Bitcoin, such as the ones mentioned in the article, you should contact your bank, or talk with our customer support. Disclaimer: "The content on this page is for general informational purposes only and should not be considered a recommendation, approval, or financial, investment, or other professional advice. It is advisable to seek independent legal, financial, and tax guidance before making any investment decisions."
