How To Buy And Sell Crypto In a Fast and Safe Way via Debit or Credit Card
The ultimate guide on how to buy and sell crypto in a safe and transparent way in 2020
How to get most out of buying and selling cryptocurrencies in 2020
There are at least four ways to buy and sell cryptocurrencies in 2020 all of which have their advantages and disadvantages. If you are opting for the most transparent and legal way to instantly buy or sell crypto via your debit or credit card, here is an ultimate guide on which steps to follow to get the most out of your transactions.
Four ways to buy and sell cryptocurrencies in 2020
From Wild-Wild-West kinds of deals to safety and transparency
At the beginning of the crypto era, it was not easy to get Bitcoins. Most sales were direct transactions among two individuals. You had to trust a particular person at least to agree to meet them in person. Let’s just say it did not always go as expected. For example, in 2017 New Delhi police have arrested a gang that was robbing people who attempted to buy Bitcoins.
Now for those who still prefer to deal with cash, there are Bitcoin ATMs using which you can instantly perform a transaction but at a substantial price of up to 10% commission. Bitcoin ATMs can be a gift for nostalgic personalities, but hardly offer benefits to serious buyers. Who would want to pay $100 for a $1000 transaction?
In the course of time, the cryptocurrency world has enjoyed the growth of peer-to-peer platforms where buyers and sellers were being matched on their terms. P2P platforms are offering escrow services, serving as middlemen to guarantee the success of a transaction. While the trust issue has been eliminated in platforms like LocalBitcoins.org, in many jurisdictions peer-to-peer transactions still fall in the grey zone and are not suited for substantial amounts.
Luckily, the market is nearing its maturity with the emergency of totally legal and transparent payment gateway providers. Now you can easily buy or sell cryptocurrencies via your credit and debit card on exchanges like Nominex. It is not only convenient but also allows you to enjoy the transparency of the exchange rate and perform transactions in a matter of minutes.
How to buy and sell crypto with a credit/debit card using Nominex
7 Steps how to instantly buy or sell cryptocurrencies using your Visa or Mastercard
Let’s dive deeper into how to buy and sell cryptocurrencies in a matter of minutes using the Nominex platform. Here are 7 easy steps to successfully buy or sell the cryptocurrencies:
- Register on the platform, using your email, and proceed to the payment gateway page.
- Take your debit or credit Mastercard, Visa, UnionPay, or MIR card. Depending on your currency, you could choose to transact with USD, EUR, RUB, IDR, KRW, JPY, TRY, GBP, UAH, or ARS.
- Choose the cryptocurrency of your choice. On Nominex you can buy the most popular cryptocurrencies like BTC (Bitcoin), ETH (Ethereum), XRP (Ripple), BCH (Bitcoin Cash), LTC (Litecoin), BAT (Basic Attention Token) or get some USDT (Tether).
- Type in the desired sum of the transaction from $5 to $2500 without any additional steps. If your appetite for cryptocurrencies has grown further and the amount exceeds $2500, you might need to provide additional documents for KYC procedures.
- Choose the payment gateway provider. Nominex has partnered with Koinal and Mercurio that differ in terms of limits and transaction fees.
- Click “buy/sell”. In some cases, you might need to confirm the transaction via email.
- In up to 10 minutes the transaction will be complete.
One of the biggest advantages is the transparency of the process. For example, you can clearly see how much money you will be transferred to your card thanks to the user-friendly interface Nominex offers.
Register on the Nominex platform and become a part of the future!
How to get the most out of transactions?
Buying and selling cryptocurrencies via Mastercard or Visa using payment providers on exchanges is a simple, legal, and straightforward process. But how to avoid overpaying and gain additional benefits? Follow the simple checklist to optimize your transactions:
- It pays out to check the fee for the transaction
Not all exchanges and payment providers offer transparency. Different payment providers might charge different fees since they are designed for different kinds of users. A reputable platform will always let you know how much Bitcoins you will have at the end of the transaction. Check and compare transaction fees to find out what suits you most.
- Optimize the transaction amount
As in Walmart, it sometimes makes sense to buy more in one transaction. Buying with a Mastercard or Visa card is so easy, so many users can be lured by an opportunity to buy cryptocurrencies even for 5$. Find out not only the minimum amount but the minimum amount with a reduced fee. For example, on Nominex, if you want to buy cryptocurrencies for $30 you only have an option to choose a provider that charges 3.95%, but if you decide to purchase crypto for $60, you can pay only 2.5%.
- Double-check the transaction currency
To get the most of transactions, it also pays out to transact in the currency of your debit/credit card. It will allow you to avoid paying your bank additional fees on fiat currency exchange rates, enforced by the bank that issued your card. The conversion fee could be as high as 3%.
- Do not waste time and risk blocked funds
Payment providers operate in a legal domain. That way they can provide customers with a safe and transparent gateway to sell or buy cryptocurrencies, but it comes at a cost. Since they are licensed to operate under certain jurisdictions, they have country-specific limitations. Ahead of initiating your transaction, you might want to check if the provider accepts cards issued in your country.
- Get through KYC procedures to widen opportunities
It usually takes an ID card and proof of residence document to get through the KYC process. In return, that allows selling or buying cryptocurrencies, according to your needs and not the limits, which can be handy in the ever-changing cryptocurrency market.
- Don’t ignore perks
The cryptocurrency world is indeed vibrant. Many exchanges compete in attracting users to their platforms. That is why they often offer additional bonuses like airdrops, referral programs, native tokens, and bonuses. For example, Nominex traders can purchase NMX and become a part of the referral program, earning perks for driving cryptocurrency adoption. Check the bonuses available and don’t be shy!