FAQ: Using Your Credit Card To Purchase Cryptocurrency

Are you familiar with cryptocurrency? Have you tried using Bitcoin or another type of cryptocurrency yet?

There are many different reasons why people are trying out this type of payment system now, and it is one of our preferred payment methods here at Phytoextractum. We even give our customers a 10% discount when they use Bitcoin to make purchases on our site because we have fewer transaction fees when using cryptocurrency.

Is it possible for you to use your credit card to buy Bitcoin? Yes! 

Does it make sense to use Bitcoin rather than another payment method to buy kratom? Also, yes!

While the future of kratom looks bright in America, it is still in a legal gray area in many regions, so you may want to ensure that your kratom purchases are as private as possible. Using cryptocurrency rather than more traditional payment methods can afford you additional anonymity, and that is a big part of why it is popular.

Let’s take a closer look at using Bitcoin to buy kratom and how you can use your credit card to purchase cryptocurrency.

What Is Bitcoin?

Let’s start by explaining what Bitcoin is.

Bitcoin is a type of cryptocurrency. Essentially, it’s a form of currency that is based online. It can be used to instantly transfer secure amounts to anyone in the world. The system itself is not managed or regulated by any government or bank organization. Instead, the system exists on an open network.

How Do I Use My Credit Card To Buy Bitcoin?

While there are a number of different ways to exchange your funds for Bitcoin, we have had the most success using Coinbase as a starting point. This is an online service that has great features and allows you to set up a currency-based wallet for easy online use that is both fast and easy.

As of writing this, however, Coinbase only accepts payments via ACH payments, debit cards, or wire transfers. We will cover how to use your debit card, and then cover some credit card options. It is possible that Coinbase will re-instate credit card funding in the future, so keep that in mind.

Adding Debit Cards on Coinbase

Today, we’ll use Coinbase as the root of how to buy Bitcoin, but remember that you can follow these same general steps when using other services as well.

Here is how to get your account set up on Coinbase and then add Bitcoin funds:

  1. Sign up for an account. You will need to provide your full name, email address, and state of residence.
  2. Then, verify a phone number for extra protection. Two-step verification will be used to sign-in on Coinbase so that your account is safer.
  3. You will then need to answer a few more questions such as your address, intent for using Coinbase, funding source, job, and date of birth. This information is used to verify your identity, which is a requirement when using Coinbase.
  4. Once your information processes, you’ll be prompted to fund your account! However, the prompt will only include bank funding via Plaid. Instead of proceeding, click the X to close the pop-up, and you will be transferred to your Coinbase dashboard.
  5. Here, you can click on “Add Payment Method” and select Debit Card. Follow the steps to add funding, and you’ll be good to go!

Funding Via Credit Card on Coinmama

Because many credit cards block the buying of cryptocurrency, it can be difficult to find ways to buy Bitcoin with your credit card.

Difficult, however, does not mean impossible!

Keep in mind, however, that these steps can be quite complicated, so using a more simple method of funding your Bitcoin purchase might be a good choice.

The most popular site for buying Bitcoin with a credit card is Coinmama. This Bitcoin broker allowed for funding in many different ways, but the fees are higher for credit cards because of the risks and processing fees that credit card companies charge.

Before you use Coinmama, make sure that it is available in your state or area as the rules and regulations fluctuate frequently and could affect whether or not you can use the service.

How Do I Pay On Phytoextractum With Bitcoin?

When you’re ready to check out on Phytoextractum, you might decide that you want to pay with Bitcoin to keep your payment both secure and relatively anonymous.

To do this, you’ll need to work through a few important steps:

  1. Make sure that your Bitcoin wallet on Coinbase is set up and loaded with money. See the section above about using your credit card to do so if you haven’t yet.
  2. When checking out, make sure that you select “Bitcoin” as the payment method.
  3. From there, you’ll have the payment address and can complete the payment.
  4. When you select Bitcoin payment on Phytoextractum, a 10% discount will be automatically added to your order.

There are a few additional things that we want to note.

First, Bitcoin orders will be shipped the same day. We simply wait for the payment to be confirmed, which usually happens within 30 minutes. Payments can be made via online, mobile, or hardware Bitcoin wallets.

Second, we want to make sure that you get as many reward points as possible, so you will receive reward points based on the full total before the 10% Bitcoin discount. We are able to save money when processing transactions on Bitcoin, so giving you the discount and points is our way to say thank you!

Should I Buy Kratom With Bitcoin?

Buying your next batch of kratom with Bitcoin isn’t a requirement, but there are some great benefits to doing so. In addition to being able to protect more of your information while shopping online, you can also save 10% on your order!

Bitcoin can seem too complicated to use at first, but it is very easy to pay using Bitcoin once you have your wallet set up and ready to go. Consider getting a great discount with Bitcoin the next time that you shop here at Phytoextractum!

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