IQ Option – Buy and Sell Cryptocurrency With a Bank Card in one click!

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Contents

How to Buy Bitcoin with Credit Card or Debit Card

We can both agree on this:

Buying bitcoins with a credit card or debit card is confusing.

Today we’ll show you how easy and fast it can be.

We’ve collected the best exchanges and listed them for you below.

Chapter 1

Introduction to Buying

Buying bitcoin (BTC) with a credit or debit card used to be REALLY hard.

Luckily, companies like Coinbase (USA, Canada, Europe & UK) and CoinMama (worldwide) have made the process smooth and fast.

Below, we’ve listed 5 proven exchanges for buying bitcoins with your credit card.

Before we start:

You’ll need a Bitcoin wallet before you buy since some exchanges require one.

Don’t have a wallet?

Read our guide on the best Bitcoin wallets.

We suggest using the exchanges listed below or doing research before buying from any exchange.

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Many exchanges are simply trying to steal your credit card information!

We do research on every exchange we list and are very careful not to include scam exchanges on our site.

Chapter 2

Credit/Debit Card Bitcoin Exchanges

Coinbase

Coinbase is the world’s largest Bitcoin broker.

At Coinbase you can buy up to $150 or €150 of bitcoin per week instantly with a debit card (not credit card) in:

Coinbase charges a flat 3.99% fee on all purchases via debit card, which is among the lowest for European and US customers.

A quick step-by-step guide on how to buy bitcoins with debit card on Coinbase:

  1. Create account. Open your account on Coinbase.
  2. Connect debit card. Add your debit card to your Coinbase profile
  3. Verify ID. Verify your ID with Coinbase.
  4. Buy bitcoins! Buy bitcoins using your debit card.

Want to buy on Coinbase? This guide will show you step-by-step in more detail how to use Coinbase.

We may receive compensation when you use Coinbase. Please visit Coinbase for its exact pricing terms.

  • High liquidity and buying limits
  • Easy way for newcomers to get bitcoins
  • “Instant Buy” option available with debit card
  • Purchases made with bank transfer can take up to 5 days to complete
  • Coinbase may track how and where you spend your bitcoins

Coinmama

Coinmama is a bitcoin broker that specializes in letting you purchase bitcoin with a debit or credit card.

You’ll be charged a

5.9% fee due to the risks and processing fees that come with credit card payments.

Coinmama offers high limits. You can buy up to:

  • $5,000 worth of bitcoin per day
  • $20,000 worth of bitcoins per month

After your account is verified and a purchase is made you will receive your bitcoin within a few minutes.

Coinmama is only available in some US states; please see this page for details.

Want to buy using Coinmama? This guide will show you step-by-step how to use Coinmama.

We may receive compensation when you use Coinmama. Please visit Coinmama for its exact pricing terms.

  • Works in almost all countries
  • Highest limits for buying bitcoins with a credit card
  • Reliable and trusted broker
  • Some of the highest fees among credit/debit card bitcoin brokers

Bitpanda Buy Bitcoin Read Review

Bitpanda is a Bitcoin broker located in Austria. You can purchase coins with a credit/debit card for 3-4% fees. Only residents of Europe can use Bitpanda.

Note that the fees are not displayed publically but displayed in your buy price when completing your purchase.

We may receive compensation when you use Bitpanda. Please visit Bitpanda for its exact pricing terms.

  • Some of the lowest fees for buying bitcoins with credit/debit card
  • Reliable and trusted broker
  • Fees aren’t shown openly on the site but instead included in the buying price

CEX.io Buy Bitcoin Read Review

CEX.io lets you buy bitcoin with a credit or debit card

CEX.io is one of the oldest Bitcoin exchanges and works in the United States, Europe, and some countries in South America.

CEX.io’s verification process is extensive and can take up to 30 minutes to complete.

CEX is only available in some US states; please see this page for details.

We may receive compensation when you use CEX.io. Please visit CEX.io for its exact pricing terms.

  • Support for many countries and regions
  • Low 0.2% trading fee
  • Established and trusted exchange
  • Verification process is extensive, requiring much personal information (including a photo) and incurring a long delay
  • GBP market lacks liquidity

Chapter 3

Tutorials: Buy Bitcoin in Less than 5 Minutes

Coinbase Buying Tutorial (Credit Card/Debit Card)

Coinbase lets you buy bitcoins instantly with a credit card or debit card. Here are step-by-step instructions to help make the buying process easier for you.

1. Create an Account on Coinbase

Once you create an account, confirm your personal details and login. You may be asked to upload a scan of ID. Once you’ve logged in, continue to the next step.

2. Navigate to account settings

Navigate to the top right corner and click on your name. There should be a drop-down menu where you can click “Settings”. Then click “Payment Methods” on the menu at the top and you should see something that looks like this:

Click on “Add Payment Method” in the right corner.

3. Click “Credit/Debit Card”

4. Enter your Credit/Debit Card Information

Note that Coinbase only accepts Visa and Mastercard credit/debit cards at this time.

5. Confirmation

You should see a confirmation like the one below. If so, your credit/debit card has been successfully added!

6. Buy Bitcoins!

Go to the buy page and you should see a widget that looks like the image below:

Enter the amount you want to buy, and click “Buy Bitcoin Instantly”. Your coins will then be delivered to your Coinbase wallet!

CoinMama Buying Tutorial (Credit Card/Debit Card)

This section will show you how to buy using CoinMama. (PS: you can also check out our CoinMama review!)

Open an Account on CoinMama

Once you create your account and verify your email address, you can begin following the steps below:

1. Login to Your Account

2. Verify your Identity

Enter all of your personal details in the fields above and save them.

3. Upload and Verify your ID

Get a Wallet!

You NEED a Bitcoin wallet for the next step.

If you don’t have a wallet yet, learn how to get a Bitcoin wallet now.

We’ll wait for you here ;)

4. Select Payment Method

You can use credit/debit card or SEPA (Europe only).

5. Select Amount of Bitcoins to Buy

You can also buy other coins.

6. Enter your Bitcoin Wallet Address

The bitcoins will be sent here once your payment has been completed.

7. Enter Card Info

Enter your credit or debit card information.

BitPanda Tutorial (Credit Card/Debit Card)

This section will show you how to buy using BitPanda. (PS: you can also check out our BitPanda review!)

Open an Account on BitPanda

Once you create your account and verify your email address, you can begin following the steps below:

Login to Your Account

Login to your account and click “Buy” in the top menu bar. You will now see a page like below. Select “Visa/Mastercard” since you want to buy with your credit or debit card. Also, enter the amount of euro you want to spend or amount of BTC you want to buy:

Now confirm that you want to buy with credit/debit. (Note that only 3d-Secure Mastercard and verified by Visa cards are allowed. If you don’t have one of these try CoinMama or Coinbase).

Now you need to confirm that the amount you entered before is indeed the amount you want to buy. Also, you confirm that you agree to BitPanda’s exchange rate. In the “the Current Price” field you can also see the exchange rate you are getting. It will likely be 3-4% above the market rate since BitPanda’s fees are included in the exchange rate.

Note, you only have 60 seconds to lock in your exchange rate and confirm!

Now you will have to verify via SMS or a phone call:

Enter the PIN code you received via SMS or phone call:

If you verified successfully, you can now click “Click here to start the payment process”. Make sure you note the 10 minute time–you have this amount of time to complete your order.

On this page you enter your credit card details through mPAY24. One you enter your card information press “Bezahlen”:

That’s it! Now in your BitPanda account you can check your “History” tab to view the trade details.

Chapter 4

Frequently Asked Questions

If you’re still a bit confused, that’s okay. Buying bitcoins is hard and that’s why I built this site.

The FAQ section below should answer all of your remaining questions.

What risks are involved when buying bitcoins with credit card?

First of all, make sure the company you’re buying for has a good reputation and is regulated. It’s possible that sketchy companies selling bitcoins may be collecting card (credit card fraud) information and could possibly use your information to make fraud purchases with your card.

Some users have reported cash advanced fees, so be sure to understand how your CC company handles the purchase of bitcoins.

What are the benefits and advantages?

Purchasing with a debit/credit card is one of the easiest ways to buy bitcoins. Also one of the fastest! Since most people understand how to shop online using credit and debit cards, it may be easier for less technical buyers to use credit cards to purchase bitcoins.

What are the disadvantages?

It’s hard to buy large amounts of bitcoins with a CC or DC. Also, the fees are higher due to the risk of fraud and scams.

Pro Tip

Do you want to buy larger amounts of bitcoins? Try buying with a bank account and you’ll save on fees.

Can I buy bitcoin with stolen credit card?

This is not possible since you won’t pass ID verification. It’s also illegal, so you should not do it or try.

Can I buy bitcoin with credit card anonymously?

This is illegal and you won’t pass ID verification.

Can I buy bitcoin with a pre-paid debit card?

Most exchanges will not allow you to use a pre-paid debit card. To buy bitcoin with a pre-paid debit card you will have to exchange it locally using LocalBitcoins.

If the limits aren’t high enough for me, can I buy bitcoins on multiple exchanges?

If, for example, CoinMama’s limits are too little for you, you could buy $150 each week and also open a Coinbase account and buy an additional $150.

Why was purchasing bitcoins with a credit card once difficult?

Credit card payments are reversible. Actually, merchants don’t receive the money from credit card payments until

60 days after a card is swiped.

Because Bitcoin transactions are irreversible, it’s risky for a merchant to sell bitcoins for CC payments. Companies have found new ways to prevent fraud and thankfully this has made it much easier to buy with a CC, as evidenced by the many options listed above.

Is it risky giving up my ID in order to buy?

It depends how much you trust the exchanges. Just like any information you give up online, there is always the risk that it can be hacked or stolen from the website you give it to.

One thing that Bitcoin exchanges have going for them is that because they are constantly under attack, they have some of the best security and protections in place to protect against the hacking of your personal info.

There is always risk with anything related to information online. Even Yahoo was hacked and information on 400 million accounts was stolen.

What’s the deal with Wells Fargo and buying with credit card?

On June 11, 2020 there were reports that Wells Fargo blocked all its customers credit cards from buying BTC. 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.

How do I determine the best way to buy?

The best way is to read through the description for each exchange. Make sure you find one that supports your country and has fees that you’re okay with. You’re also free to try multiple exchanges to see which you like using the best.

What Happened to VirWox?

VirWoX is no longer working.

recommendation

Do you want to buy bitcoins more privately? Try buying bitcoins with cash instead.

Can you Buy Less than One Bitcoin?

Yes, it is possible to buy less than one bitcoin.

Each bitcoin is divisible to the 8th decimal place, meaning each bitcoin can be split into 100,000,000 pieces. Each unit of bitcoin, or 0.00000001 bitcoin, is called a satoshi.

When buying Bitcoin, you don’t have to buy a full bitcoin and can easily buy less than one.

Most Bitcoin exchanges will let you specify the amount of fiat currency you want to spend and in exchange sell you the equivalent amount of Bitcoin. For example, if one bitcoin is worth $250, and you want to buy $125 worth of bitcoin, you’ll receive 0.50 bitcoin–assuming there are no fees.

Vice-versa, most Bitcoin brokers also let you specify the amount of bitcoin you want and will charge you the equivalent in fiat. For example, if you want to buy 0.25 bitcoin and 1 bitcoin is $300, you’ll be charged $75.

So, yes, it’s 100% possible to buy less than one bitcoin. Companies like Coinbase will let you buy as little as $1 worth of bitcoin.

Should I leave my bitcoins on the exchange after I buy?

We really recommend storing any bitcoins you want to keep safe in a wallet you own. Many Bitcoin exchanges have been hacked and lost customer funds. If you don’t want to fall victim to these hacks then the easiest way is to store your coins in a wallet you control.

Can you sell bitcoins?

Out of the exchanges we listed, CEX.io is the only one that allows you to sell bitcoins to your credit card.

Will the fees for buying bitcoins with debit card or credit card ever get lower?

Probably not. Payment processors like Visa, Mastercard and American Express charge at least 2.9% per transaction. So any exchange selling bitcoins for CC payments is always going to pass this fee off to you, plus charge a bit more to make a profit. The fees could get lower if some exchange cuts a deal with a credit card processing company to get lower fees.

Can I buy other cryptocurrency using this method?

Depends on the exchange. Coinbase, for example, allows you to buy litecoins and Ethereum with credit card. Coinmama, on the other hand, supports Bitcoin, litecoin, ether and cardano.

If you want to buy lesser-known cryptos you can always buy bitcoins using the methods above and trade them for altcoins on another exchange like Binance, Changelly, Kraken or Poloniex.

Why do I have to buy bitcoins with credit card in order to buy other cryptocurrencies?

This is because most other cryptocurrencies are traded against Bitcoin. The liquidity for altcoins against the US dollar is often very poor. But on the other hand, the liquidity against BTC is usually very good. So it’s easy to get other currencies once you have bitcoins, but not easy to get other currencies without having BTC first.

Can you buy bitcoin with credit card at Walmart?

Although many people want to do this, it’s not possible to buy bitcoin at Walmart with a credit card, debit card or any other form of payment.

Did banks ban buying cryptocurrency with credit card?

In the USA, some banks are blocking users from buying cryptocurrency on credit. Debit cards appear to still be working. European users still appear to be able to buy crypto with a credit card. The US banks essentially felt as people were getting a cash advance since crypto is usable instantly and is basically like cash.

Why are some exchanges missing from your list?

We don’t want to overwhelm people, so we’ve hand selected what we believe to be the best exchanges available. You can use the home page tool to narrow down more exchanges.

Chapter 5

Exchange Comparison

A quick comparison of credit/debit card exchanges. These cover nearly every country in the world.

Buy Bitcoin with Credit/Debit Card at These Exchanges

Exchange Fees Countries Buy
Coinbase 2-4% USA, Europe, Canada Buy
Coinmama 4.9-5.9% Global Buy
Bitpanda 5% Europe Buy
CEX.io 7.5% Global Buy

Please note that fees are approximate and may vary based on your country or purchase size.

Chapter 6

Theft, Scams, and Storage

If you get one thing from this article let it be this:

Don’t store your bitcoins on exchanges.

I’ve been buying bitcoins for more than three years. I’ve never lost any money to scams or thefts. Follow the guidelines in this article and you’ll be able to do the same.

Here are two examples where users got screwed by leaving bitcoins on exchanges:

And there are many more I could list.

Make sure you get yourself a Bitcoin wallet that will securely store your bitcoins.

Besides storage, there are many scam exchanges out to steal your credit card information and/or bitcoins.

Following these two basic principles should help you avoid theft, scams, and any other loss of funds:

  1. Do research before buying on any exchange. Check reviews, ratings, and regulation information.
  2. Don’t store coins on the exchange. Already mentioned above but worth repeating.

Secure Bitcoin Hardware Wallets:

Bitcoin – What It Is, How To Use It And Bitcoin Wallets

As the world marks 10 years from the collapse of the Lehman Brothers Investment Bank, it becomes more relevant to think of Bitcoin. The reason for the statement is that after the collapse of the Lehman Brothers, Banks stopped lending to their peers and other financial entities for fear that the institutions had issued bad loans in the asset bubble burst. This created widespread panic, a credit crunch and consequential collapse of the financial system. In the midst of the turmoil, Bitcoin concept came into being. In this regard, it is good to review some aspects about the disruptive cryptocurrency.

What Is Bitcoin

Bitcoin is a protocol of a distributed network. This network manages a ledger of accounts of BTC, the network’s proof of work indicator, commonly known as the token. However, most people use the term Bitcoin interchangeably to refer to both the token (BTC) and the distributed ledger network.

Bitcoin was created by Satoshi Nakamoto, a software developer. The original concept was to create a substitute of the conventional currency that at the time, seemed to be elusive in the crippling 2008 Financial Crisis. The features of Bitcoin are:

The Token Supply is Scarce

The original plan is to create 21 million BTC tokens. This is done through the mining process where people download the Bitcoin software on their powerful computers called “nodes” and then solve mathematical processes. The process involves predicting numbers on a block until the program accepts the code and completes the transaction by assigning the BTC to the correct guess. The process is very hard but rewarding as the correct guess earns 12.5 BTC, a figure that reduces by half in a 4-year period.

Immutability

Bitcoin Blockchain is decentralized and the interactions are managed on the peer-to-peer level or individual basis in regards to mining. In this case, there is no reversal of transactions.

Why Banks Stopped Customers From Buying Bitcoin With Credit Card

At the beginning of 2020, Banks became weary of Bitcoin and other cryptocurrency exchange. The banks expressed their dissatisfaction with Bitcoin by banning the use of credit cards in buying the BTC and other digital assets. Coincidentally, during the time, Bitcoin and other tokens had lost over half of their value. For instance, Bitcoin had slid from $20,000 in December 2020 to new lows of $8,000 as at mid-February 2020.

The first banks to issue the ban in the US were; the Bank of America, Discover, Citigroup, Capital One, JP Morgan, etc. On the other side of the Atlantic, other banks in the UK such as Lloyds, Virgin Money, and others have followed suit. The ban has since spread as Central/Reserve/National banks prohibit the trade in swift regulatory measures. The reasons for the bans are as follows:

The Risk was High

The volatility of cryptocurrency prices means that a high Bitcoin consumption could result in losses and plunge many borrowers into financial distress. This scenario would give rise to bad loans and directly expose banks to liabilities from non-performing or bad credit. One particular research by Lloyds showed that credit cards that were used in buying Bitcoin had higher than average rates of payment defaults.

Discouraging Money Laundering

Banks are responsible for monitoring their clients to ascertain whether there is any form of money laundering going on. However, when clients use credit cards in purchasing Bitcoin, they elude the monitoring system as credit money is usually legitimate, they then service their loans with the laundered money and the cycle continues. It was, therefore, necessary to curb money laundering that was happening through the use of cryptocurrencies and credit cards.

Other factors such as lack of cryptocurrency regulations, weak macroeconomic environments, and uncertainties in the digital assets’ markets may have also played a part in the ban issuance.

Why You Need A Bitcoin Wallet/What It Is

A Bitcoin wallet is a secure virtual environment for storing Bitcoin keys and receiving the BTC. The key in the wallet is used in accessing Bitcoin address. Note that the recipient’s key and the sender’s key is what is required in completing a Bitcoin transaction.

Accessing Bitcoin address is crucial to Bitcoin transactions such as sending the BTC on peer-to-peer transactions in e-commerce, or even exchanging the BTC for other cryptocurrencies or fiat money. There are several types of wallets. In selecting the appropriate one for your use, there are factors that you have to consider such as security, convenience, practicability, control, and anonymity.

You will find out that you need a wallet as Bitcoin is a decentralized distributed ledger network where each user is responsible for keeping account of their tokens. Further, no banks or institution offers solutions to storing the Bitcoin keys that are a must-have when accessing the Bitcoin address that contains specifics such as BTC balance, transaction encryptions, and other on-platform activities.

The various types of Bitcoin wallets to consider are:

Paper Wallet

The wallet is generated through the Bitaddress or the Bitcoinaddress. The wallet stores Bitcoin keys in the form of QR codes that are scanned for making a transaction.

Mobile Wallet

This is a form of a wallet that is accessed as a mobile phone app. It allows limited access of nodes on the Bitcoin blockchain for small BTC transactions. E.g. Jaxx, Bitcoin wallet, etc.

Desktop Wallet

The wallet applies the same principle as the mobile wallet. The only difference is the device, which in this case is a desktop computer or laptop. E.g. Electrum, CoPay, Bitcoin Core, etc.

Hardware Wallet

Hardware wallets are stored in portable and detachable computer hardware parts such as a USB stick, or external hard drive. It is easy to use and secure provided that the hardware has security futures such as passwords. E.g. Ledger Nano S, KeepKey, Trezor, etc.

What To Do With Bitcoin After You Buy It

Buying Bitcoin is becoming easy. If you are an institutional buyer, the CBOE and CME offer options arrangements to buy Bitcoin. Additionally, there are endless points of sale and even ATM machines where you can buy Bitcoin. On the other hand, as an individual buyer, all you need to have is money and access to any of the platform that offers Bitcoin for sale such as Crypto Exchanges, financial institutions, etc. Once you buy Bitcoin, you use the BTC for the following:

Buy Goods And Services

Many merchants are accepting Bitcoin. Companies such as Microsoft, Overstock, SurfAir, etc. accept BTC in exchange for goods or services. The good thing is that you could get better discounts on the purchases as Bitcoin is considered more valuable than the fluctuating fiat currencies that are prone to inflation or devaluation.

Bitcoin Buying Options

Bitcoin continues to be an ultimate investment choice due to the immense probabilities of gains. The options for buying the leading cryptocurrency are diverse:

Credit Transactions

Although most Banks do not authorize the use of credit cards to buy Bitcoins, some credit card providers whose sole business is to offer credit are flexible and offer the service. If you are considering using your credit card to acquire Bitcoins, you can follow the steps below:

• Find the Best Bitcoin Marketplace such as Coinbase, Coinmama, Bitpanda, etc.

• Sign up an account

• Connect to your credit card

• Trade your local currency in the card

• Transfer the Bitcoin into a secure wallet

The credit card transactions, however, attract fees that average 3.75% that is considerably expensive. Moreover, the credit purchase can be considered as cash advances that may attract higher fees making the transaction expensive. However, the credit card can increase the credit line if the exchange is considered as a purchase to enable you to spend more on Bitcoin exchange.

Debit Card Transactions

The protocol for debit card transactions in Bitcoin purchases is almost similar to credit card transactions. The steps are the same, as you have to open an account in your preferred exchange and follow the process as outlined under credit card transactions. The only difference is that you are to select the debit card option as opposed to credit card selection.

Under this category, the fees are usually lower than on credit cards. The only major hurdle is that your bank may not be allowing Bitcoin transactions due to regulatory or precautionary measures that are being adopted in almost all countries in the world.

Cash Solutions

There is a Bitcoin ATM that offers one-stop solutions to people with cash who want to buy Bitcoin or other cryptocurrencies. The machines are places in people’s businesses, malls or high traffic areas that accessible to the public. However, a prerequisite for buying BTC is that you have to have a wallet from which you can directly deposit the BTC after the cash purchase. The machine is convenient, easy to use, and safe as the risk of being scammed is almost zero. The safety factor is underpinned d y the fact that the machines operate under KYC regulations as per the jurisdiction of operation.

Online Money Transactions

Online money is different from digital cash. The difference is that online money is fiat money denoted by online codes such as numbers, etc. On the other hand, the digital cash represents tokens such as Bitcoin, Ethereum, etc. that are generated through mining, in addition to being decentralized and supporting private transactions. In this regard, the option for online money in Bitcoin transaction is possible through various platforms.

PayPal

The PayPal platform enables you to buy Bitcoins within Bitcoin exchange platforms such as eToro, Cryptex24 Exchange, xCoins P2P Bitcoin Lending, and many other crypto market platforms. To complete a transaction, you will need to have an account of Second Life Linden Dollars (SLL)-the currency for the virtual world.

The PayPal platform has recently applied for a patent right on the Expedited Virtual Currency Transaction System (EVCTS). This means that the BTC can be bought in the Virtual world mainly for speculative purposes. Additionally, the EVCTS allows instant transaction time frames as the PayPal platform supports the creation of “mini wallets” to act as blocks for authorizing transactions that support BTC exchange.

Other Similar Platforms are:

Conclusion

Bitcoin continues to be a major investment both as an asset and a cryptocurrency. With such a potential, it is worthwhile to consider aspects of Bitcoin such as its history, payment options, biggest scams in history and the wallet.

How to Make Money With IQ Option in 2020 | A Complete Trading Guide

As a personal finance writer of Forex, Options and financial instruments; the question that I am asked the most is if a broker is legit. And if it is genuine, most traders still go ahead to ask about the trading conditions which make a broker stand out from the rest.

Admittedly I have had to answer a few questions here and there about IQ Option too? And it is quite important that today we review the platform.

Watch Video | Complete Guide of Binary Options.

So expect all info about this broker, scam checks and certainly a genuine thought why IQ Option is the best in Options Trading, Forex and ETF’s.

But even as you prepare to take that great first step to register, remember to trade responsibly: –

What is IQ Option Trading?

IQ Option is a simple trading platform that allow online clients to trade Forex, Option and ETF’s on various instruments across all popular assets (cryptocurrencies, stocks, indices, currency pairs and commodities).

IQ Option is a simple trading platform that allow online clients to trade Forex, Option and ETF’s on various instruments across all popular assets (cryptocurrencies, stocks, indices, currency pairs and commodities).

The company was founded in 2020 and it has since grown to gain over 25 million traders over the years.

Currently IQ Option does over 1, 800, 000 trades per day where traders withdraw over $10, 800, 000 per month.

As at 2020, IQ Option accepted traders from 151 countries including: –

Find the rest of the List on IQ Option Website.

Is IQ Option Legit?

Of course it is. This is if to go by the fact that it is licenced and regulated by the Cyprus Securities and Exchange Commission (CySec). A body which regulates brokers in European Union among other jurisdictions.

Of course it is. This is if to go by the fact that it is licenced and regulated by the Cyprus Securities and Exchange Commission (CySec). A body which regulates brokers in European Union among other jurisdictions.

To obtain such licences a broker has to meet specific minimum requirements which IQ Options supersedes – including: –

Safety of Client Funds – money to be kept in a secure account that which is separate from broker business.

Protection of client data – IQ Option is fully SSL encrypted – this protect trader data from any potential hacks.

Details of Assets Available For Trading in IQ Option.

1. Stocks – IQ Option has 168 stocks that are available for trading in the platform. These include stocks by major companies such as Apple, Amazon, Microsoft among other listed corporations.

2. Options – With IQ Option users can Call Option (Buy) or put Option (Sell) different trade instruments across a varied assets range.

3. Forex – IQ Option Offers a huge range of currency pairs both for the traditional Forex trading and Cryptocurrencies.

4. ETF’s – Also Exchange Traded Funds are marketable securities that track a stock index on a range of assets. Prices of ETF’s change throughout the day as they are bought r sold. I IQ Option there are 21 ETF’s available for trade.

5. Cryptocurrencies – IQ Option allows users to trade over 10 cryptocurrencies which include all the top cryptos – Bitcoin, Ripple, Ethereum…

6. Indices – Traders who believe that particular stocks can increase overall in the future or in a short period of time can also speculate on particular indices in the market. IQ Option Offers 11 options to trade indices.

7. Commodities – You may also want to trade in the primary economic sectors by speculating changes in the prices of commodities such as wheat, gold, silver, platinum among other commodities. IQ Option offers 6 commodities for traders.

Signing Up With IQ Option.

There are so many easy ways that you can use to sign up to IQ Option – including signing up through Facebook, Google or simply click on the image below to register. You will be redirected to your new account with $10,000 demo units which you can use to practice for free. On real market conditions.

There are so many easy ways that you can use to sign up to IQ Option – including signing up through Facebook, Google or simply click on the image below to register. You will be redirected to your new account with $10,000 demo units which you can use to practice for free. On real market conditions.

Only note that demo accounts are solely for the training purpose and you can not withdraw any profits you make off your forecasts. On the brighter side, it’s risk free (you don’t lose real money with demo accounts).

Types of Trading Accounts in IQ Option.

Real Accounts – IQ option live accounts are activated with a minimum deposit of $10. This also introduces you to over 70 options instruments to trade on either commodities, currency pairs or stocks.

If you win you can withdraw your winnings and receive them within 24 hours. IQ Option minimum withdraw-able amount is $10.

VIP Accounts – VIP accounts are activated when traders make a lump sum deposit of $3,000. This opens up more features to the trader like trader getting a personal account manager, monthly reports on trading performance among other gifts and benefits.

IQ Option App for Trading.

For easy and flexible trading IQ Option has designed mobile friendly apps both for Android and iOS users . That’s in addition to desktop apps and browser applications that are also easy to use.

IQ Option platforms also have chats and messaging tools that you can use to seek help without ever leaving your trading platform.

Even more amazing is there integration of educational materials and videos to the platform making it easier to learn anything about trading from anywhere in the world.

How To Use VISA to Deposit IQ Option in Kenya.

Step 1 – Login to your account or create an account if you don’t already have one.

Step 2 – Click on the deposit button on the sidebar.

Step 3.

IQ Option has 6 payment options available – including AdvCash, Neteller, Skrill and Webmoney.

But for the purpose of this subtitle we will use VISA. So click on the VISA button, choose the amount you’d like to deposit (from $10) then click the green go to payment button on the page.

A blank VISA card image will pop up. Fill in the required card details then click pay.

Note that IQ Option does not charge deposit commissions. Neither do they charge commissions on withdrawals.

How to Use Skrill-Mpesa to Deposit in IQ Option in Kenya.

If you want to receive your funds faster when you withdraw then the best deposit option would be either of the online wallets.

For the purpose of this subtitle we will show you how to make deposits to IQ Option with Skrill. If you are in Kenya you can as well fund your Skrill account with Mpesa first (this option works for Neteller too).

Step 1.

Click the deposit button on your sidebar.

Step 2.

Select Skrill from the payment options > select the amount you want to deposit then click go to payment.

You will be redirected to a new page where you will enter your skrill login details.

Your deposit will be processed when you click the login button.

IQ Option Contact Details

Your can contact IQ Option through a number of Channels including Email, Live Chat, Contact forms or landline calls. The platform responds to all queries within 46 seconds.

If you’d like to get personal care with the fastest response rate, upgrade your account to VIP. which guarantees a personal account manager.

IQ Option Email.

Is IQ Option a Scam?

Basing our argument on overwhelming positive reviews that we have seen online and on social media platforms about this broker, we say it is genuine. That coupled with the fact that it is open and puts everything about the platform out there for public knowledge. And not to mention that it already gives upfront warning about the risk of trading which most brokers don’t do.

Basing our argument on overwhelming positive reviews that we have seen online and on social media platforms about this broker, we say it is genuine. That coupled with the fact that it is open and puts everything about the platform out there for public knowledge. And not to mention that it already gives upfront warning about the risk of trading which most brokers don’t do.

Risk Warning.

When trading any of the underlying assets on IQ Option know that the market is volatile and you can lose so much money online. To avoid that, take your time trading with the demo account to learn more about the platform. Also do your research about any service which you don’t understand before risking your money. Above all only risk what you can afford to lose.

How to buy and sell cryptocurrency

In our latest guide to Bitcoin , we outlined what is necessary to know about blockchain as the basis for cryptocurrencies. Let’s move on to getting some coins and see how to buy and sell cryptocurrency. There are two things you should be familiar with. One, crypto-exchange platforms and, two, cryptocurrency wallets. Exchanges are the places where you would exchange, buy, sell bitcoins and altcoins. The latter is a tool to store your digital coins. To better understand cryptocurrency transactions, we’ve decided to review two biggest exchange platforms.

Coinbase exchange

Currently the biggest and most popular cryptocurrency exchange platform, available in 32 countries. It allows trading Bitcoin, Bitcoin Cash, Ethereum, and Litecoin. To over 20 million users it offers a friendly interface, few levels of protection and both desktop and mobile ( Google Play and App Store ) versions.

You have options to create a private or a business account. In case of second, the service will offer to redirect you to the subsidiary products – GDAX , a trading platform for investors, and Coinbase Commerce API, for accepting cryptocurrencies as payments for goods and services.

Further registration forms will require personal information like bank account, credit/debit card, address, ID and its verification. The more data you give, the higher your buying options will be. The daily maximum cash transactions for the U.S. is $50,000, for Europe – €30,000. As soon as you create an account, it is time to choose the means of protection. The service persistently advises the 2-factor authentication. 2FA or 2-step verification, besides the passwords, there’s a 2FA code. The code is generated on your phone by such methods like TOTP (time-based one-time password), Google Authenticator or similar apps, SMS/text codes (less secure).

Payments and fees

Coinbase supports three payment methods: banking account, debit/credit card and wire transfer (PayPal). Depending on a country, available options can vary, the same as the conversion fees and exchange rate. Take into account, that in countries like Australia, Canada, Singapore, both variable and fixed fee are used. But in general, for the fastest transactions you will have to pay more:

Best for Buy Sell Deposit Withdraw Speed Fee (USA)
Bank account Large and small investments + + + + 4-5 business days 1.49%
Debit/Credit card Small investment + Instant 3.99%
Wire Transfer Large investment + + 1-3 business days 3.99% (PayPal)

Local currency wallet is another useful feature. A consumer can place the funds in USD, Euro or other national currency, and later use it to buy the coins.

Buy/sell cryptocurrency

As mentioned earlier, Coinbase has an easy-to-use interface, so, learning how to buy and sell cryptocurrency won’t take a lot of time. Currently, the service supports following digital currencies: Bitcoin, Bitcoin Cash, Ethereum and Litecoin. Coinbase provides rates statistics by each coin (hourly, daily, weekly, yearly, all time), so the consumers can easily plan their actions based on given information. Mobile app version gives the opportunity to set alerts – to stay notified about price fluctuations.

On Coinbase you can easily switch between Buy and Sell options. In both cases, the system works the same: you choose a type of coin, a wallet and a payment method. However, due to high rates, rather than buying the whole bitcoins, the most common option is buying/selling by fractions. You need to input the amount of money you are ready to spend, and the system immediately displays the amount of coins you get:

For reverse transaction, a consumer has to write down the number of coins he/she wants to obtain – the money sum column will appear:

To sell, a consumer is choosing from what place to take the coins (BTC, LTC or ETH wallets) and where to send funds (USD Wallet, PayPal, or bank account). The rest of it is the same procedure as with buying – select the amount of coins to sell and/or your rate.

Kraken exchange

The second biggest cryptocurrency exchange, according to experts and users. Kraken is available in the European Union, Canada, Japan, and the USA. Unlike Coinbase, it works with both trading schemes: cryptocurrency to cryptocurrency, and cryptocurrency to fiat currency. The service supports 17 digital coins such as Bitcoin, Bitcoin Cash, EOS, Gnosis, Tether, Ethereum, Litecoin, etc. Combined with local currency (USD, EUR, GBP, Yen), it creates tradable pairs – XBT/USD, BCH/USD, EOS/EUR, etc. The service also provides statistics of fluctuations and trade rates for each pair.

After signing up, a user has to pass verification. The more advanced account you want, the more requirements it will have:

Tier 0 – the basic level with only interface exploration;
Tier 1 – requires full name, date of birth, country, phone number and has the option to deposit and withdraw only digital currency;
Tier 2 – requires a physical address, and allows depositing, withdrawing and trading in digital and fiat currency;
Tier 3 – requires ID verification, but provides much higher buying/selling limits;
Tier 4 – requires a signed application form, ensures higher daily and monthly limits than Tier 3.

For advanced security, Kraken offers the already known two-factor authentication (2FA) combined with a master key – as the option to recover account access. 2FA is provided by authentication app (6-8 digits one-time passcodes), Yubikey (hardware device) and static password.

Unlike Coinbase, where you can pay directly from your bank account or credit card, on Kraken you have to deposit some funds first. Choose the fiat currency (Euro, USD, etc.) and select one of the deposit methods: bank account or wire transfer (SWIFT, SEPA). For future, use the same instruction to withdraw your funds.

It is free of charge to deposit funds and there are no limits on amounts. This can not be said about the currency movement inside the service and its withdrawal. Fees vary and mainly depend on volume, and also on the popularity of exchange pair. The charge for withdrawals of digital assets vary from ฿0.0005 (Bitcoin) to Ł0.001 (Litecoin) and to Ξ0.005 (Ether).

Buy/sell cryptocurrency

Similarly to Coinbase or other cryptocurrency exchanges, Kraken has its daily buying/selling limits. Amounts depend on the user account status (tier). While buying/selling you can switch between two operations, select currency and its amount. Pay attention, that each cryptocurrency has its minimum order quantity. The reverse rate, like on Coinbase, is not available. For better trading, Kraken has also launched Cryptowatch, that provides “real-time cryptocurrency market data, charting and trading services”.

Cryptocurrency wallets

Besides coin trading, there’s the question of funds storage. Cryptocurrency wallets are digital tools, that aren’t quite as wallets in a conventional sense. They contain encrypted passwords (private and public keys) to unlock funds. Even though most of the cryptocurrency exchanges, like Coinbase, Kraken or Bittrex, provide its own wallets, blockchain experts recommend using more than one wallet. This is especially relevant considering the rise in popularity and thus, more security threats.

Most of today’s coins have its official wallets (Bitcoin Core Wallet, Litecoin Core, Ethereum Wallet, etc). Though you can also choose between multi-coins or single-coin wallet. And yet, there is no wallet which can support all currencies. To unify all available cryptocurrency wallets, we’ll get 3 groups: software, hardware and paper wallets.

Software wallets can store the private key on your PC/laptop, mobile app or on web (cloud server). If you are going to be an active buyer/seller, probably, this is the best choice for you. However, consider pros and cons first.

Pros Cons
  • easy to access
  • perfect for the small amount of coins and day-to-day use
  • quick transaction time
  • easy to hack
  • computer/phone can contain malware and viruses
  • desktop wallet may require technical updates of OS

One fine example of such service is Armory wallet, check the demo.

Hardware wallet, or a physical wallet, is the most secure way to store any amount of digital currency. The offline hardware device is easy to connect to the internet, often may have a screen, which is an additional safety feature, used to verify the owner.

Pros:

  • immune to computer viruses
  • cannot be hacked
  • can store multiple currencies

Cons:

  • doesn’t suit the day-to-day trading

Trezor wallet is just one example.

Paper wallet seems less technical than other variants. But everything isn’t so unambiguous. Special software programs (BitAddress, Bitcoin Paper Wallet) generate the private and public keys and then the information is printed, most often like QR-code.

  • full immunity to hacker attacks, malware, viruses
  • is not stored on any device
  • a piece of paper can be lost/stolen

Check out Bitcoin Paper Wallet Generator if you want to know more about it.

Tips how to buy and sell cryptocurrency

Even though the whole idea of Blockchain is independency, security and decentralization, it does not mean all risks are demolished. Yes, your funds of bitcoins and altcoins are better protected than in typical banking system. But many fraudulent schemes have already entered the blockchain environment.

Thus, tip #1: u se more than one exchange. Lower fees, user-friendly interface, the variety of payment methods, advanced account protection are main factors, you should consider.

#2 is do not rush to exchange coins into the fiat currency and then withdraw to your bank account. More and more stores and companies accept bitcoins and some other altcoins.

#3, as a beginner, trust the market flow. Choose the most popular exchanges, trading platforms and coins. What is good for the majority, will not hurt your interests. Later, with some experience gained, you will be competent enough to make relevant decisions depending on your selling/buying plans.

And finally, #4 – never forget to make a backup of your private/public keys.

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11 Ways to Buy Bitcoin with a Credit Card

By: Ofir Beigel | Last updated: 11/12/19

These days it’s getting much easier to purchase Bitcoin with a credit card. The problem of chargebacks has been mitigated through anti-fraud companies, and more and more exchanges allow credit cards as a valid payment option. In this post I’ll review the most popular methods for buying Bitcoin with a credit card.

Buying Bitcoins with a Credit Card Summary

The easiest way to buy Bitcoins with a credit card would probably be Coinmama. Here are the steps:

  1. Visit Coinmama.
  2. Choose the amount you want to buy.
  3. Submit your ID for verification.
  4. Enter your Bitcoin address.
  5. Enter your credit card details.
  6. The coins will be sent to your wallet.

*eToro users: 75% of retail CFD accounts lose money.

If you want to read in depth about additional exchanges that accept credit cards keep on reading. Here’s what I’ll cover:

1. Buy Bitcoin with a Credit Card through Coinmama

Pros: Good support, respectable company, fast service

Cons: Limited states in the United States

Coinmama specializes in Bitcoin purchases through a credit card since 2020. They take a premium fee for their services, and they do not limit you to a maximum amount of bitcoins that you can buy. They provide fast and reliable service. Bitcoins are received instantly after your purchase confirmation, and support is pretty responsive.

How to Use Coinmama

1. Get a Bitcoin wallet, as Coinmama doesn’t hold the bitcoins for you.

2. From Coinmama’s homepage, choose how many bitcoins you’d like to buy. Enter the price either in BTC, USD, or EUR. Alternatively, you can choose one of the offered packages.

3. Click Buy BTC, and you will be taken to the sign-up page.

4. After you fill out your initial details, you’ll need to go through an additional verification by submitting a photo ID. Verification is usually pretty quick (it took me 1.5 hours to get verified). You can also buy up to $500 without completing the verification process. With verification, you can buy $5,000/day and up to $30,000/month.

5. Once you’re verified, you can buy bitcoins pretty easily with your credit card through the friendly interface. I suggest you use Visa or Mastercard since it’s the fastest option.

6. Next you’ll need to enter your own Bitcoin address.

7. Finally, enter your payment details and place your order.

2. Buy Bitcoin with a credit card through eToro

Pros: Low fees, user friendly

Cons : Can’t withdraw actual coins (price speculation only)

eToro supplies different cryptocurrency services such as a wallet, CFD services and also a regulated exchange. You can speculate on Bitcoin’s price through eToro using your credit card with relatively low fees. This means you can buy and sell Bitcoins for fiat currency only (USD, EUR, etc.). You won’t be withdraw the actual coins.

75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

3. Buy Bitcoin with a credit card through CEX.IO

Pros: Veteran company, high buying limits

Cons : Support can be slow, Higher exchange rates than competition

Established in 2020, CEX.IO is a cryptocurrency exchange trusted by over 2 million users. CEX.io works in the United States, Europe, and some countries in South America. The site supplies a complete trading platform as well as a brokerage service.

How to Use CEX.io

1. Open a CEX.IO account.

2. Click on Finance and Deposit next to the requested currency.

3. You’ll then have the option to either wire transfer the money or use your credit card to buy bitcoins instantly.

CEX.IO also offers instant withdrawals of USD, EUR, GBP, and RUB to payment cards, meaning you can deposit and withdraw funds in and from your payment cards once they’re linked to your CEX.IO profile.

Withdrawal requests are processed automatically right after their placement, and they do not require you to log in to any third-party services. In most cases, withdrawals are processed instantly, enabling you to gain convenient access to the funds on your Visa or Mastercard right away.

4. Buy Bitcoin with a credit card through Bitpanda

Pros: Multiple payment options, relatively low fees

Cons: EU citizens only

Bitpanda is an Austrian startup company that was founded in October 2020. The company allows you to buy bitcoins and a variety of other cryptocurrencies with a credit card as well as with wire transfers, Neteller, Skrill, SEPA, and more. The company supplies its services to European countries only at a relatively low fee.

How to Use Bitpanda

5. Buy Bitcoin with a credit card through Coinbase

Pros: User-friendly interface, relatively low fees, established reputation

Cons: Not available worldwide, horrible support

Coinbase is the largest Bitcoin broker worldwide. It has over 20 million customers around the world. Coinbase charges a 3.99% convenience fee on all credit card transactions and is open to 103 countries around the world. When buying more than $100 worth of bitcoins, you will receive an additional $10 bitcoin bonus.

How to Use Coinbase

1. Create a Coinbase account.

2. Go to Settings, then Payment Methods, and then click Add Payment Method.

3. Click Credit/Debit Card.

4. Enter your card’s information.

5. Once the card is confirmed, you can go to Buy/Sell and buy your bitcoins.

6. The bitcoins will be sent to your Coinbase wallet.

Credit card purchases of Bitcoin are charged an additional 3.99% processing fee. In order to connect your card, you’ll need to verify your identity by uploading a government-issued ID.

6. Buy Bitcoin with a credit card through Binance

Pros: Good reputation, available worldwide

Cons: Slow verification process, slow support

Binance is a crypto only exchange. However, you can buy Bitcoins with a credit card on Binance thanks to a partnership they have with Simplex. Even though it is considered a relatively young exchange, Binance has surpassed most veteran exchanges in its popularity and trading volumes.

7. Buy Bitcoin with a credit card through LocalBitcoins

Pros: Wide variety of sellers, easy-to-use interface

Cons: Sellers will usually take higher fees for credit card purchases, possibility of scam

LocalBitcoins is a peer-to-peer marketplace for buying and selling bitcoins. You can think of it as eBay for Bitcoin. The site offers a wide variety of sellers that accept various payment methods, including credit cards. The main issue when using LocalBitcoins is that you have to filter sellers wisely so that you won’t get scammed. One thing to keep in mind is that if you’re new to LocalBitcoins, not a lot of sellers will want to do business with you since they’re likely afraid of scammers as well.

How to Use LocalBitcoins

1. Sign up to LocalBitcoins.

2. Search for a seller who accepts credit cards (unfortunately, there’s no “worldwide” search, so you’ll need to sift through different countries to find all sellers).

3. Verify that the seller has enough of a reputation, and read the terms of the trade.

4. Enter the amount you’d like to buy, and click Send trade request.

5. Follow any additional requests as required by the seller.

8. Buy Bitcoins with a credit card through Bitstamp

Pros: Great reputation, multiple payment options, accepts customers worldwide

Cons: Average fees, verification process can take a long time, not very user friendly

Established in 2020, Bitstamp is one of the oldest and most reputable Bitcoin exchanges out there. The exchange is fully licensed by the Luxembourg ministry of finance. Bistamp accepts credit card purchases via Simplex. At the moment, this service is open to most European and US citizens.

How to Use Bitstamp

1. Click on Deposit.

2. Choose Credit Card as your payment option.

3. Deposit the required amount.

4. After the deposit is cleared, click on Buy/Sell.

5. Choose Buy BTC.

6. Enter the amount you want to buy and click on Buy BTC.

To finish your order, you’ll need to use a 3D Secure credit card. Also, some banks may consider your credit card deposit as a cash advance. If that’s the case, your bank or credit card provider may charge extra fees.

9. Buy Bitcoin with a credit card through Coinhouse

Pros: Reputable company, high buying limits

Cons: Limited countries available, high exchange rates

Coinhouse is the “House of Bitcoin” in Paris. You can buy bitcoins by Visa, MasterCard, with cash, or with a Neosurf prepaid card, which is available in most European countries.

10. Buy Bitcoin with a credit card through IndaCoin

Pros: Good support, available worldwide

Cons: High fees

Indacoin is a UK-based exchange that allows users worldwide to buy bitcoins with a credit card. The minimum amount is $5, and the limit for the first month is $500. After 40 days, your monthly limit will be increased to $3,000.

In order to use your credit card, you’ll need to verify your phone number and your five-digit code which is on your credit card statement. The process is fairly simple, but I haven’t tried the exchange out myself, so I can’t vouch for it.

Even though the site states that it doesn’t charge any fees, its exchange rate is pretty high due to credit card processing.

11. Buy Bitcoin with a credit card through CoinCorner

Pros: Easy to use for beginners, supporting mobile app

Cons: High administration fees on deposits, not available worldwide

CoinCorner is a Bitcoin broker established in 2020, located in the Isle of Man. The exchange services several countries around the world. CoinCorner also has a supporting mobile app that allows you to send and receive bitcoins from your account using your mobile phone.

12. Frequently Asked Questions

Does a Bitcoin ATM accept Credit Cards?

Bitcoin ATMs accept only cash as payment for Bitcoin (due to chargeback issues). You will not be able to pay with your credit card at a Bitcoin ATM.

How can I buy Bitcoins with Visa?

All of the exchanges listed on this page accept Visa cards as a form of payment.

How can I buy Bitcoins with Discover Card?

Most exchanges accept Visa and Mastercard credit cards. However, some online reviews claim that exchanges like CEX.io accept Discover card as well.

13. Conclusion: How do I know which exchange to use?

It can be kind of hard to decide which exchange is the best platform for buying your bitcoins since there are so many of them. I suggest trying out each exchange with a small amount of money and moving on to larger funds only after you’re comfortable with the process.

Once you take the first step you’ll start to notice what you actually value in an exchange and adjust your choices accordingly. If you have any more questions or comments about the methods I just described, leave me a comment below.

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