CEX.IO was one of the first cryptocurrency exchanges that enabled the simplified purchase of digital assets with payment cards. Nowadays, the platform represents an ecosystem of different services allowing you to easily buy, sell, trade, and earn with crypto. One of them is the Instant buy feature with help of which you can get crypto in a few clicks by paying directly with a debit card or credit card.
How it works?
A complete guide on how to buy Bitcoin (BTC) with a prepaid card
To start buying and selling cryptocurrencies on CEX.IO, you need to register an account first. For this, use your active email address. You’ll need to confirm it with a special code or link sent during the registration. After you create an account, we’ll notify you about your transactions and important actions on your profile (like confirming the password change) via email.
How to register an account in 3 simple steps?
Open the official CEX.IO website or download the mobile app. Then click Register.
- For personal use, choose an Individual account. If you want to use CEX.IO for your company needs, choose a Business account.
- Then provide your email, create a password and give us some information about yourself: your first and last name and country of residence.
Here is a detailed guide on how to create an account using the CEX.IO mobile app.
Why does CEX.IO need your personal information?
CEX.IO is a globally regulated crypto exchange. We serve over 4 million customers in 193 countries. Some governments require us to obtain special licenses for crypto platforms to be able to provide services for their citizens. Due to these requirements, we need to identify our customers and guarantee top-level security for their funds and data.
What’s more, CEX.IO follows international anti-money laundering rules. According to the AML directives, every crypto exchange, a platform that provides storage services for cryptocurrencies or services that allow purchasing crypto for fiat funds, needs to follow the same rules as traditional finance institutions. This includes KYC processes and regular transaction monitoring.
By registering an account with CEX.IO you can be sure that the company you use isn’t involved in any kind of illegal activity and the crypto assets you buy here were never used for terrorism funding or corrupt practices.
How to start using your card for crypto purchases on CEX.IO?
Once registered, you can link a payment card to make instant fiat deposits and withdrawals and buy crypto with it. To link your debit, credit, prepaid card:
- Go to the Cards page;
- Enter your card number;
- Provide the expiry date.
That’s all. We don’t ask for any photos with your card. Later, when you’ll make a card deposit, you’ll need to confirm it with the CVV code and 3DS-code from your card issuer.
To make fiat deposits and , pass the Identity verification. Go to your Profile, choose Verification, and click Start near the first stage.
How to buy crypto instantly with a prepaid card?
First of all, decide what crypto you want to buy. It can be either a popular coin like Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), or any other of 70+ crypto supported on CEX.IO.
When you are on the Buy/Sell page, you can choose the currency in the Buy dropdown list. You can see four boxes with the most popular amounts of virtual currencies bought by our customers, and a section where you can enter your own amount. The fiat equivalent you should pay is calculated due to the current market rate of the coin or token. You can check and compare cryptocurrency prices in real-time before making a purchase.
Once you’re ready with the amount, click the Buy button. On the next page, you’ll see all the details of your transaction, like the amount, price, how many fiats you’ll pay, and what is the deposit commission. You can choose your prepaid debit card or credit card as a payment method or use the available funds on your CEX.IO balance.
When you confirm the purchase, BTC (or other currency you’ve chosen) will appear on your CEX.IO account. Check the state of your balance on the Finance page.
What card type to choose for buying Bitcoin and other crypto?
When you’re going to buy Bitcoin with a debit card prepaid credit card, or bank transfer, make sure your bank is crypto-friendly and will allow this kind of transaction. The truth is that many banks avoid or even ban all operations connected with digital assets due to a perceived threat to the traditional banking system.
Here are some tips on working with different card types on CEX.IO.
Buying Bitcoin (BTC) with a Visa card on CEX.IO
Visa is open for cryptocurrencies and recognizes them as innovative technology and an integral part of the financial system. The company allows different transactions connected with the use of virtual currencies. Buying Bitcoin with a prepaid Visa card should not be a problem for you.
Using Mastercard for crypto purchases
Seeing that buying Bitcoins with prepaid Mastercard cards has become mainstream in the modern digital world, Mastercard also joined the band of crypto enthusiasts. In 2021, they announced the support of selected digital currencies within their network. That means you can use Mastercard debit, credit, and prepaid cards on CEX.IO to deposit funds and purchase crypto.
What to know before buying crypto with prepaid cards?
A prepaid debit card is not connected to your bank account. The card is loaded with some funds you can spend for online shopping or for contactless payments in a physical store.
You can also use a prepaid card to deposit USD, EUR, GBP, RUB to your CEX.IO account. Then you can buy Ethereum (ETH), Bitcoin (BTC), and other crypto with these funds. However, if you want to sell Bitcoin (BTC) and withdraw money to your card, you need to use another card. Because prepaid cards can not be funded either via online services and payment terminals.
Gift cards: pros and cons
With a gift card, you can make payments in different retail stores, restaurants, gas stations, etc. They are usually issued by a company where you can spend money from this card. It’s convenient if you don’t have cash with you or don’t want to use your credit card. Also, you can use this card as a present for your friends and relatives.
However, they are limited to places where you can pay. Mostly, it’s a single brand of stores or restaurants. And a sum loaded into the gift card should be all spent with one payment.
Currently, CEX.IO doesn’t support gift cards for deposits and withdrawals, as they’re not connected to the banking system.
Other places where you can buy BTC with a prepaid card
There are some other ways to get Bitcoin and crypto with your prepaid card. For instance, you can use a P2P platform, where buyers and sellers meet each other and exchange their money without third parties. If you find a Bitcoin owner accepting prepaid cards, you can contact them, agree with the price and purchase BTC.
One more option is using Bitcoin ATMs. They work like payment terminals, but instead of cash, you’ll get the BTC address with some coins on it. Still, you’ll need to access the wallet with your digital funds via a separate online service. By the way, not all Bitcoin ATMs accept debit and credit cards.
Why CEX.IO is the best place to purchase and store Bitcoin (BTC)?
The CEX.IO crypto exchange is a simple and convenient platform for buying, selling, trading, and earning cryptocurrencies. The company follows the world standards of providing financial services which allow CEX.IO to operate in 193 countries.
The user-friendly interface allows customers to quickly find the option they need. All services come with a transparent and competitive fee schedule.
The robust relationships with banks and payment providers make it possible to enable multiple payment options for our customers. Everyone can find the method that suits their preferences and is available in their country of residence.
The range of presented services allows you to get the most out of the crypto economy. Buying cryptocurrencies is possible via the Instant buy service and trading orders. The crypto you bought can be then used in our Earn product, which consists of a crypto staking program and a savings account.
Benefits of CEX.IO mobile app
Some services are currently available in our mobile app exclusively, but they are definitely worth your attention:
- The Instant sell option made it possible to spend your crypto money for fiat funds at the current market price and withdraw it to your card;
The Exchange service allows conversion of any two currencies without the need to use trade orders. For instance, on the Trade page, you can convert BTC to USD, BTC to GBP, or BTC to XRP by placing market and limit orders. And in the mobile app, you can exchange BTC into any of the 80+ currencies in a few simple clicks;
- What’s more, you can set up price alerts and order notifications to go in step with the market trends.
Buying crypto FAQ
Q.
How to deposit fiat funds to the CEX.IO account?
A.
You can use your payment card, bank transfer option, or e-wallet like Skrill, Epay, Advcash. Deposits and withdrawals via credit cards and debit cards are mostly instant. Bank transfers can take 1-3 business days, but some options are free of charge on CEX.IO. If you choose an electronic wallet, then your deposit will be on the CEX.IO balance on the same day. More you can find on the Limits and commissions page.
Q.
Is it safe to buy Bitcoin with a prepaid card?
A.
When operating card payments, a company should provide all possible security measures to protect the card data. That’s why PCI DSS certification is a must for every crypto platform that accepts debit and credit cards. CEX.IO passes the regular independent audits to prove the security of services and secure processing and storing the payment card credentials. So it’s totally secure to buy Bitcoin with a credit card on our platform.
Q.
Can I pay with cryptocurrency for Bitcoin (BTC)?
A.
To perform this kind of transaction, you need to deposit cryptocurrency first. Then, depending on the kind of asset you have, you can use the Trade page and place orders with BTC-to-crypto pairs. Otherwise, you can download the CEX.IO mobile app and use the Exchange option. This is a simplified method as you don’t need to figure out the trading processes. Just select two currencies to convert, enter the amount, and confirm the transaction. This way you can exchange any digital currency listed on CEX.IO for Bitcoins.
Q.
How long can I store crypto on my CEX.IO account?
A.
Once you create an account on CEX.IO, you’ll get the wallets for storing your digital funds. They are free for use and protected with our enhanced security measures, your password, and 2FA code. There is no limit on the sum of time for using your wallet. By the way, if you want to increase your deposit and withdrawal limits, pass the Enhanced verification level.
Q.
How can I earn with Bitcoin?
A.
There are multiple ways to increase your capital with help of cryptocurrencies. For instance, you can study fundamental and technical analysis, practice trading on a regular basis and build up your own trading strategy. Considering the potential for Bitcoin to hit new price records, you can also try the HODL strategy and wait for your crypto portfolio to rise in value. CEX.IO offers you one more way to earn BTC with minimum effort. You can open a savings account and transfer your Bitcoins there to earn the annual interest. We don’t lock your funds and you remain the full control of it.
