Buy Ethereum (ETH) With Debit Card
How To Buy Ethereum With Debit Card - The Complete Guide 2022
Crypto trading has gathered so much attention over the years. Many investors have jumped into this asset class because of the crazy returns. One of the most popular coins which people buy frequently is Ethereum. Ethereum is the #1 altcoin in the crypto ecosystem. Even though the coin was introduced six years after the emergence of Bitcoin, it has grown to become a worthy competitor. Many investors are interested in Ethereum for diverse reasons. This is because apart from buying and selling, Ethereum has other use cases.
Ethereum is a blockchain network that facilitates various automated solutions, and it also allows the development of smart contracts. These use cases make Ethereum constantly in demand. And you know, more demand causes price increases. This is reason Ethereum is considered a solid asset to add to your investment portfolio.
For those interested in Ethereum for Investment, the simplest way to begin is to buy and hodl the token. Interestingly, buying Ethereum has never been easier than buying with your debit card. This guide will reveal how to buy Ethereum with a debit card in the simplest way.
How Easy Is It To Buy Ethereum With Debit Card
An average crypto trader/investor has diverse ways to get involved with the ecosystem. There are various exchanges you can use for purchasing Ethereum. There are also different payment options available for users. However, we have emphasised the usage of debit cards for purchasing Ethereum. You may wonder, ‘Is it easy to buy Ethereum with a debit card?’.
Yes, it is easy to buy Ethereum with a debit card. It is a pretty straightforward process to purchase Ethereum with your card. You only need to register on an exchange and link your card for subsequent funding.
The crypto exchange will require you to input your card details in order to link your debit card. You’ll need your Card Number, the CVV, and the expiry date. Sometimes, the linking may not be successful. This issue can arise from either the debit card type or the banking facility. It is better to use a master card or a visa card for crypto transactions. You should also check your local bank’s policies regarding crypto transactions as well.
Where To Store Ethereum?
It is one thing to buy Ethereum. It is another to keep your assets safe and secure. Like every other cryptocurrency, after buying Ethereum, you’ll need to store it in a secure wallet. Why? You need to keep your assets and protect them against hacks securely. Remember, cryptocurrencies are digital assets and can be accessed online. Due to internet connectivity, you risk exposing your funds to hackers. That said, what type of wallets can you store on Ethereum?
There are different types of wallets. Many exchanges are built with wallets so that users can keep their Ethereum. However, experts advise to not keep assets for long in an exchange’s wallet. Instead, you can move your funds to a third-party wallet. Third-party wallets like Trust wallet and MetaMask, are more secure as they allow users to secure their accounts with key phrases. Without these key phrases, nobody can access your account. Although third-party wallets are a better alternative to exchange wallets, they are not the best option. Because it is connected to the internet, hackers have derived various ways to manoeuvre funds out of your account. Aside from that, once you lose your keyphrases, you will lose your funds forever.
Experts have ranked the cold wallet as the most secure wallet to store assets. This wallet secures your ETH from online exposure. You can keep your Ethereum token in the cold wallet if you are hodling. However, if you intend to constantly use your Ethereum, the wallets on crypto exchanges are better.
How To Buy Ethereum With A Debit Card
People buy Ethereum tokens for diverse reasons. Mr John may buy Ethereum to secure his future, while Ms Jane would buy Ethereum to mint her favourite NFT tickets. In the same vein, Mr Joe is trading Ethereum to make quick profits. No matter why you want to purchase Ethereum, it is best to do so with an easy method. One fast way to get Ethereum is with a Debit Card. Some exchanges allow users to buy Ethereum with either a Mastercard or Visa Card. Other exchanges will enable you to use any card, including cards stacked with local currency. Mind you, charges may differ when buying with different types of cards. To buy Ethereum with a debit card, follow the steps listed below:
1. Choose a crypto exchange
Without an exchange, you can’t buy or sell Ethereum. You must then pick a good exchange. When selecting an exchange, choose one that will allow a seamless and smooth trade. You can identify a good crypto exchange from the ease of using the platform, worldwide accessibility, amount of listed crypto tokens, supported fiat, payment options, customer support, etc.
2. Register and Verify your account
After finding a suitable exchange, you’ll need to register an account before making a trade. Many crypto exchanges would basically require your email address, phone number and password. Some would require your address, nationality, and Date of birth. After registering, you would need to verify your details for access to more features. Usually, you’ll need a Government ID, a bank statement or a utility bill. Once submitted, the exchange will automatically verify your account.
3. Visit the Buy/Sell page
Check the buy/sell page. Select Ethereum(ETH) from the drop-down menu. Then input your desired amount of tokens you’ll need to buy. Then, you’ll see a variety of options. Select Debit card from the drop-down. You’ll be required to your card details.
Alternatively, you can:
4. Fund your account
When you have funds available in your wallet, you can easily buy Ethereum from an exchange. To fund your account, you’ll need to select pay with a card. You’ll be required to link your card by inputting your card details.
Top 3 Exchange Platforms To Purchase Ethereum With Debit Card
Coinbase
Coinbase is an excellent US-based crypto exchange that has 96 cryptocurrencies accessible to its users. The platform has put in place different features for novice and advanced traders. Advanced traders can use Coinbase pro, while average crypto investors can stick with the regular Coinbase exchange. With Coinbase, users can swap cryptocurrencies and also trade them for quick profits.
Pros
- Low starting amount
- Assets are insured
- Over 90 cryptocurrencies
Cons
- High fees
eToro
With as little as $10, users can trade crypto tokens and other assets on eToro. The platform has a reputation for social trading and copy trading. Even beginners can follow trade moves made by experts to make money. Virtual trading accounts can also be used to practice by beginners. eToro, which was established in 2007, has gained the trust of users all over the world. The platform is available in roughly 140 countries, and it has over 20 million users. Currently, users can trade about 30 crypto tokens on eToro.
Pros
- Social trading
- Virtual trading
- Trade crypto and other assets
- $10 starting fund
Cons
- Limited service
- Poor customer support
CEX.io
CEX.Io is a well regulated and licensed crypto exchange available to users all over the world. Users can do a lot with crypto on the exchange. Users can buy, sell, stake, or even take a loan with crypto. CEX.IO’s advanced charting features, large selection of crypto pairs, and trading features, makes it an excellent platform for advanced traders.
Pros
- Well regulated and licensed
- Large amount of cryptocurrencies
- Crypto loans
- Advanced trading features
Cons
- Difficult to understand
- Lower liquidity
Conclusion
Ethereum is a solid crypto token to own. Fortunately, buying ethereum is not difficult. With a debit card, you can start stacking Ethereum. By now, this article would have revealed steps that would help you buy Ethereum with a debit card.
BWCEvent aspires to share balanced and credible details on cryptocurrency, finance, trading, and stocks. Yet, we refrain from giving financial suggestions, urging users to engage in personal research and meticulous verification.
