We are now very well aware with how to buy bitcoins with PayPal. Let’s get acknowledged with how to buy Bitcoins with Credit Card. But before that, you must get familiar with the risks it bears for the customers of Asia or Africa. Their funds often get frozen by the credit card processors as fraud cases of large amount have been mostly experienced from these continents. There are two ways to buy Bitcoins with a credit card and those are VirWox and Coinmama at present.
Remember: Be alert and careful while buying Bitcoins from any non- accredited websites or communities. If in doubt, go through the online discussion forums and get yourself answered. There are many bitcoin scammers who take illegal advantage of this service. Exchanging or storing significant amounts of funds with third-parties is strongly not advised.
VirWox is the abbreviated form of Virtual World Exchange that allows purchasing of Second Life Lindens (SLL) with both PayPal and credit cards. Similar to that with PayPal process, SLL is later exchanged to BTC. VirWox claims the eligibility of those credit cards that are acceptable by PayPal account.
First step you have to carry out is to register your account by signing up on the left sidebar.
After clicking on ‘Not registered yet?’, you will be asked to fill up your basic and personal information. There’s no need to link any ‘Avatar Name’ and rather leave it as it is (‘No Avatar’).
Once you are done with all your details, click ‘Register’. To verify your account, VirWox will send you a confirmation email consisting of your password. It is recommended to change the password since it is risky if your email account is accessible to any other person. If the temporary password is disclosed, anyone can transfer money through your account.
Now, you are supposed to deposit some amount by clicking on ‘Deposit’ option situated on the left side bar. Then, go to the PayPal Express Checkout section and choose how much quantity you wish to deposit. The maximum amount range to be deposited is going on increasing with number of PayPal accounts. Next, click on ‘PayPal’ button.
You will now come across the PayPal Payment web page. In order to pay with credit card, you will have to click on ‘Don’t have a PayPal account?’. Just below the link it is mentioned as ‘Pay with a card’. All you have to do is enter the required credit card details so that you can deposit money with your credit card.
The Account Balance box on the top left displays the amount you deposit in front of USD Balance. Now, it’s the perfect time to buy SLL with your USD. You have a choice to select the quantity of SLL you want to buy for which you will have to go to the SLL/USD simultaneously stay updated with the conversion rates.
Similar to deposit amount, the purchased SLL amount is also shown up. Next step is to exchange the bought SLLs into Bitcoins. The SLL/BTC exchange link will help you in this process. Remember that there is no limit for the exchange of SLLs into BTCs. Note that a manual review may be needed by VirWox which may take up to 48 hours as aforementioned, but practically takes just around 7 hours.
Soon you will notice the Bitcoins amount being displayed on the left. In order to withdraw the Bitcoins into your wallet, click on ‘Withdraw’ after which you will be asked to enter a BTC address where you can send your newly obtained bitcoins. The entire transaction process may take up to two days and ultimately, you will acquire your bitcoins into your wallet.
CoinMama is another service for buying bitcoins with a credit card.
The main feature of this service is that it has no limit for maximum amount of Bitcoins to be bought. However, they take a premium fee for their services. It does not affect your payment process by any means since the price you choose during your order placement is reserved with them; no matter to what extend the BTC value goes up. Note that CoinMama does not directly accept the credit cards, rather offer a money transfer via credit card services through MoneyGram and Western Union. You are supposed to send a money transfer using your credit card once you have finalized the quantity of coins you wish to buy. CoinMama verifies your transaction and delivers your Bitcoins into your wallet.