Credit or Debit Card

Bitcoin is a relatively new currency, which means that web-based companies are only just beginning to offer people the ability to offer credit card and debit card purchasing services.

There are two services:

Coinify

Based in Denmark, Coinify offers a trustworth trading service. It is worth pointing out that they are a trader and do not offer bitcoin wallets at this point in time. Therefore, you will need to sign up, then submit a ‘buy” order, which includes your credit card and the address of your bitcoin wallet. After you submit the purchase order, the bitcoin will arrive in your account in 24 hours and will be immediately ready for use.

Advantages:

  • Simple interface
  • Purchases complete within 24 hours
  • Secure
  • Reputable company based in the EU
  • Generous limits

Disadvantages:

  • No instant purchase of bitcoin using credit card for new accounts
  • AUD is not offered as a currency, which means you will need to purchase bitcoin in USD, EUR or another currency, which results in foreign currency bank charges. Coinify are interested in adding AUD to their list of currencies.
  • 3.9% charge for credit card purchases.