How to Buy Bitcoin in China: Top Safe Exchanges

coinmama review

The buying process is like buying a book on Amazon but instead of sending the book to your home address, you send your new digital money to your digital wallet address. You need to pass the basic verification level before you can buy bitcoin. Buying limits are not determined by your verification level. Coinmama provides quality service for those who want to buy Bitcoins instantly using their credit card without compromising the user privacy.

In contrast, a cryptocurrency exchange like Karkaen or Binance acts as an intermediary between buyers and sellers. Coinmama charges a 5.9 percent trading fee, which is included in the price. If you use a credit or debit card another 5 percent is added. At 10.9 percent, the overall fee is higher than that of many exchanges.

BitPanda is one of Europe’s popular digital currency trading platforms. It deals with all types of digital currencies such as Ethereum, Dash, Ripple and BTC.

Purchase Limits

Is Coinmama safe and legit?

To purchase Bitcoin using credit or debit cards, Coinmama doesn’t require users to register their credit or debit card in order to purchase cryptocurrency on the exchange. Unlike many of its competitors, Coinmama does not provide an online wallet for users to store their cryptocurrency on the exchange.

However, this is not a huge deal as most credit cards have already been blocked by Visa and Mastercard from buying bitcoins since January/February. Wells Fargo likely took another step, although the bank said they may allow purchases of cryptocurrency again down the line. The major issue right now for BTMs is the fact that these machines are quite expensive to use. Although without fees, the only teller available has a large exchange rate gap between purchase and sale price of BTCs. On the other hand, it is a private way to get bitcoins since you do not need to provide anything else apart from your credit card and wallet’s address code.

Alternatively, you can fund your account by SEPA transfer and knock 5 percent off the fees. Coinmama is not exclusive if you want to buy Bitcoins in Brazil since Coinmama operates in almost every country in the World. By using Coinmama, you’ll be able to buy bitcoin with debit or credit card while other payment methods are not available at this point. Apart from BTC’s price, you also have 5% fees on all purchases. On June 11, 2018 there were reports that Wells Fargo blocked all its customers credit cards from buying BTC.

Although based in Argentina, SatoshiTango offers its services in Brazil as well. It allows investors to buy bitcoins with the help of bank transfers and coupons, while platform has its own debit card if you wish to get larger quantities of coins. Fees stand at 2% of the purchase value, regardless of the method chosen. CEX.io is a bitcoin platform that offers its services globally, China included.

On most cryptocurrency exchanges, the trader is required to deposit money before trading. Remember on Coinmama, you are not actually trading but buying at the market price. Like an Amazon checkout, you pay after you have selected your currency. For a SEPA bank transfer, note the bank account details, log into your online bank and process the payment.

The fees vary from 3.5% to 10% depending on the purchase option while buying limits are set by days active on the platform. The major drawback of the exchange is the fact that BTC cannot be purchased directly. You have to buy Second Life Lindens (SLLs) first and then swap them for BTCs, paying three times the same trade fees. Currently, over 1.5 million customers use the service in over 200 countries.

  • On most cryptocurrency exchanges, the trader is required to deposit money before trading.
  • Remember on Coinmama, you are not actually trading but buying at the market price.

Purchase bitcoins instantly with a credit/debit card or local bank transfer. Xapo, much like Mycelium, started out as an online wallet and vault service for bitcoin users. Now, it expanded its platform with exchange products as well, including the direct trade using bank transfer of Xapo debit card. The verification is mandatory for purchases north of $3.000 while fees are hidden in the exchange rate of the cryptocurrency. VirWox allows users to anonymously buy bitcoins using PayPal, Skrill, OKPay, SOFORT, paysafecard and credit/debit cards.

Coinmama Review Summary

However, if you know your way around exchanges you can always just deposit money through your debit card and then buy Bitcoin on the company’s trading platform with a much lower fee. Users in the UK and Europe can purchase bitcoins with SEPA, credit/debit card, or GBP bank transfer. In the United States you can buy bitcoin with a connected bank account via ACH bank transfer. In Europe you can buy with your bank account via SEPA transfer.

coinmama review

On the other hand, verification at Bitit is a must if you plan to purchase coins using credit cards. For a more private way to get them, you can use Bitit’s gift card. By now, most everyone knows that Bitcoin can be bought on exchanges, or purchased directly from other people via P2P platforms, likeLocalCoinSwap.

The fiat currencies accepted at the exchange are USD and EUR while payment options are credit/debit cards, bank transfers, and CryptoCapital. Choosing CryptoCapital would cost you 1% of the deposit value while credit card fees stand at 3.5%. In addition to the payment costs, you pay maker/taker fees that range between 0.1% and 0.2%. Cex.io supplies trading services and brokerage services (i.e. buying Bitcoins for you). If you’re just starting out you may want to use the brokerage service and pay a higher fee.

Purchases made with ACH take 5 days for the coins to be delivered, while SEPA purchases take less than two days. Americans may add a Visa or Mastercard credit card to as a backup to unlock instant payments via bank transfer. Coinmama is the place to sell orbuy cryptocurrency if you are seeking a fast and efficient transaction at a firm price. Coinmama, itself, is your trading partner – in the same way your bank is your seller when you purchase a money order.

How to Purchase

It supports many payments options, such as SOFORT, Skrill, Neteller, bank transfers and credit cards. Fees are not shown transparently, as they are part of the bitcoin value when purchasing the cryptocurrency.

Coinmama

The exchange provides quick customer service and no hassle during the registration or verification process. Coinmama is registered with FINCEN in the US as a money service business. Based in France, Bitit BTC Broker allows you to acquire BTC online using debit and credit cards. It is considered to be one of the exchanges that provide a strong privacy due to its unique method dealing with the 3D bank cards.

Your coins will be transferred once the bank transfer has been received (typically within 24 hours). Alternatively, you may go to your bank and order a bank transfer. Coinbase is the best way to buy bitcoin online in the United States, Canada, Australia, the UK & Europe. Liquid, low-fee US-based bitcoin exchange in multiple currencies.