How To Buy Bitcoin Online With a Credit or Debit Card

Investing in cryptocurrencies like Bitcoin may seem complicated, but it doesn't have to be. While one of the easiest ways to buy Bitcoin is by visiting your nearest Bitcoin ATM (which is essentially a vending machine for Bitcoin), buying crypto online with your credit or debit card comes in as a close second. Today we're breaking down the process of buying Bitcoin and other cryptocurrencies online at CoinFlip step by step. 

Before You Begin

There are several things that any aspiring crypto investor will need before making their first purchase. If you are new to the crypto space, I highly recommend checking our Beginners Guide to Buying Crypto. In it, you will learn everything you need to know about cryptocurrency, how to pick a coin that is right for you and setting up a digital wallet. 

Buy Cryptocurrencies with Credit or Debit Card Online

CoinFlip allows you to conveniently and safely buy Bitcoin online through our partners at Simplex! Simplex helps us process crypto-to-credit or debit card payments in just a few clicks. 

Step 1 - Visit www.coinflip.tech/buy-bitcoin-online

Step 2 - Select the Cryptocurrency You Would Like To Purchase 

Thanks to Simplex, we can offer a broader range of coin listings than are available at our ATMs. When buying crypto online with CoinFlip, you can purchase the following coins: BTC, ETH, LTC, DOGE, BNB, DASH, XLM, DAI, ATOM, EOS, HBAR, ICX, QTUM, and TRX. 

Please note that if you are looking to buy LINK or USDC, you'll have to wait on your next trip to a CoinFlip ATM as these coins are not available for purchase online.

Step 3 - Enter the Amount in Us Dollars That You Would Like To Purchase

Alternatively, you can enter the exact amount of crypto you would like to purchase during step two.

Please note that Simplex has transaction limits. The minimum amount of crypto you can purchase is $50, while the maximum amount is $20,000.

If you are outside the United States, you will also need to select the fiat currency you will use to purchase your crypto. Simplex allows purchases in many different currencies, including the Euro, Mexican Peso, Pound Sterling, and more!

Step 4 - Enter Your Wallet Address

Now, this is a tricky part because this string of 26-35 alphanumeric characters is crucial to making sure the cryptocurrency you purchase makes it into your wallet. It is best to copy your wallet address directly from your digital wallet and paste it into the address box on the CoinFlip site to avoid typos.

Once you've entered your digital wallet address, hit enter and proceed to step five. 

Step 5 - Enter Your Debit or Credit Card Information

Simplex accepts payments using a card from Visa or Mastercard. In this screen, Simplex adds a note that using a credit card might lead to a cash advance fee from your card issuer. Therefore, they recommend using a debit card.

In this screen, you must check a box stating that you have read and agree to Simplex's Terms and Conditions and Privacy Policy. You also have the option to save your card for future purchases and opting into receiving occasional email offers. 

Step 5 - Enter Billing Address and Person Details

Next, enter the billing address associated with the debit or credit card you are using to make your purchase. You must also enter personal details, including your email, phone number, and birth date.

Step 6 - Verify Your Email

Simplex will send a four-digit verification code to the email you entered in step 5. To proceed, enter the code into the box on the screen.

Step 7 - Upload An Identity Document

Unlike using a CoinFlip ATM, which does not require identification for transactions under $900, buying crypto on the CoinFlip website requires you to upload an ID for purchases greater than $150. You must upload pictures of your valid ID, ensuring that all four corners are visible, the text is readable, and it is the original document (not a copy or a scan). When you've finished uploading your photo, you must enter your ID's expiration date in the "Identity document details" section.  

Fortunately, you will only be required to upload this information once, as Simplex will store the information of returning users. 

Step 8 - Wait for Your Payment To Be Verified 

As you wait, keep an eye out for emails from Simplex for updates about your payment. Simplex is currently verifying your transaction. You may notice a charge on your credit card. This is only an authorization check, automatically made to reserve the amount if the payment is approved. If the payment doesn't go through (canceled, expired, or failed), Simplex will void this authorization check-in no more than 48 hours, and you will not see the charge in your account.

Should your payment be approved, CoinFlip will transfer your cryptocurrency into your digital wallet. 

If you have already completed this process before, then you’re in luck! Returning users are able to process their transactions in one click after heading to the CoinFlip page for online purchases and enter the crypto they would like to purchase. 

If you have any questions or problems, contact Simplex by email at [email protected]