This introductory guide explains how to buy Bitcoin with Netspend card. Follow our simple three step guide to make your first purchase.
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Firstly, the most important question to answer is: can I buy Bitcoin with Netspend card?
No, Netspend card doesn’t allow you to purchase cryptocurrency. However, you can use Netspend card to fund a trading account and buy Bitcoin that way.
You just need a crypto exchange that accepts Netspend card deposits. And we’re here to help.
How to buy Bitcoin with Netspend card – a step-by-step guide
It takes about 15 minutes to buy BTC with Netspend card. Have a copy of your photo ID to hand and follow this guide to get started.
Step 1. Sign up with Bitstamp
We recommend Bitstamp as the best platform to use to buy BTC with Netspend card.
Min. Deposit
0 €
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Payment Methods:
Apple Pay, Google Pay, PayPalStep 2. Create an account
You need an account before you can buy anything. Sign up with your contact details and a form of ID for verification.
Step 3. Make a deposit via Netspend card
Enter how much you want to deposit and select Netspend card as your payment method from the list of options.
Step 4. Use the search box to find Bitcoin
Use the search box on the home page to search for Bitcoin and the currency you want to pay in (such as GBP).
Step 5. Make your purchase
Enter how much Bitcoin you want to buy, check the details and process the transaction. Once the payment goes through, your new Bitcoin will show up in your exchange account.
Top Bitcoin platforms that accept Netspend card
1. Bitstamp. Best for professionals & trading with APIs
Pros & Cons
Low trading fees and no spreads Supports multiple fiat currencies Regulated platform
Limited number of coins available Major fees on deposits and withdrawals Liquidity has suffered due to the limited selection of coins and most liquidity is concentrated in top names like Bitcoin and Ether
Overview
We love Bitstamp because it has a proud reputation for top performance over more than decade. Bitstamp offers trading on 75+ cryptocurrencies, including Bitcoin, Ethereum, and Litecoin, while staking is available on Ethereum and Algorand.
Bitstamp was one of the first crypto platforms to set up shop in 2011 and has built up trust since. It’s designed with institutional traders in mind, so it prides itself on near 100% uptime. It stores 95% of assets in cold storage and offers a sliding scale of fees so that high volume traders get the best rates.
The fees: There are no trading fees if you trade less than $1,000 in a rolling 30-day period. Above that, fees start from 0.4% and decline the higher your trading volume is. There is a 15% charge for staking. Withdrawals are charged a flat €3 fee.
2. Binance. Best crypto platform for trading altcoins
Pros & Cons
Supports the trading and storage of over 130 coins Offers multiple trading pairs (BTC, ETH, BNB, and USDT) High maximum daily withdrawal limit Available globally Low trading fees, particularly when using BNB (Binance Coin)
Occasionally slow customer support Centralised, rather than decentralised
Overview
We love Binance because it’s the largest crypto platform in the world. More than 30 million people use Binance to trade 350+ cryptocurrencies. Binance also offers a range of other services, such as staking, crypto loans, and derivatives markets such as futures and options.
The Binance app is designed to appeal to everyone, regardless of your experience. The ‘Lite’ version slims everything down to the basics, while the regular app is one of the most advanced crypto trading platforms out there.
The fees: There are no fees for trading Bitcoin. All other cryptocurrency spot trades come with a 0.1% fee. If you own Binance coin (BNB), you receive a 25% discount on all trading fees. Binance does not charge deposit fees but withdrawal fees are variable depending on the crypto.
3. Skilling. Best app for mobile trading
Pros & Cons
Commission-free trades with competitive spreads from 0.7 pips Can trade over 800 securities across 17 global markets Regulated by the Cyprus Securities and Exchange Commission (CySEC) and the Seychelles Financial Service Authority (FSA)
No 24/7 support Limited educational resources
Overview
We love Skilling because it’s a beginner-friendly platform that makes commodity trading accessible to everyone. You can trade 55 cryptocurrencies on Skilling and the system is very portable, so you can access it from the app or on your desktop.
One of Skilling’s best features is its compatibility with TradingView, so you can chart trading ideas and then send them directly to your trading account. It also boasts plenty of other user-friendly software to make it easy to trade from your phone or your browser, including its proprietary Skilling Trader and the cTrader platform for professionals.
The fees: Skilling charges a maker and taker fee on all cryptocurrency trades of 0.1% for each.
Quick answers to key questions
Can I buy crypto with Netspend card?
Yes, you aren’t limited to buying Bitcoin alone. The only limit is which coins are available on the exchange you’ve chosen. Most crypto exchanges that support Netspend card as a payment method offer 50+ cryptocurrencies and many offer hundreds more.
Is Netspend card safe?
Yes, it’s completely safe to use Netspend card. The only risk to look out for is to make sure you sign up to a regulated Netspend card Bitcoin broker when buying Bitcoin. Using an unregulated broker platform can put your money at risk.
How much does it cost to buy Bitcoin via Netspend card?
Most crypto platforms charge a commission of 1-2% on every Bitcoin purchase. There are no additional fees for paying with a Netspend card.
Can I store Bitcoin on my Netspend card?
No, the Netspend card is a prepaid card, not a crypto wallet. You can use it to fund your Bitcoin trading account, but you can’t use it to store your Bitcoin.
For that, you need a Bitcoin wallet, which is an app that stores cryptocurrency securely behind a unique password.
Why don’t more crypto platforms support Netspend card?
Most crypto platforms do accept prepaid cards, like Netspend. If they don’t, it’s usually because they require stringent ID checks, and Neteller is a card you can top up in cash at local stores, so it’s more difficult to track where the money came from.
Should I buy Bitcoin using Netspend card?
Yes, it’s a simple and low-fee way to pay for your Bitcoin purchases. It’s convenient to use a prepayment card to fund your crypto trading account, and you can earn cashback benefits from your card whenever you use it.
The only drawback is that there are some limits in terms of which crypto brokers and exchanges accept Netspend deposits. Here is a quick summary of the pros and cons of using Netspend.
Pros
- Easy to top up a Netspend card in 100,000s of local stores
- Normally no additional fees for making a deposit with Netspend
- Convenient to use your day-to-day payment card to make Bitcoin purchases
Cons
Is there an alternative to buying cryptocurrency with Netspend card?
There are plenty of alternatives, whether you want to pay through an online payment provider or go down a more traditional route. Here are some of the different ways to pay for your Bitcoin purchase.
FAQs
Can I buy Bitcoin with Netspend card on Coinbase?
Can I buy Bitcoin with Netspend card on Cash App?
How do I fund my crypto account with Netspend card?
Can I buy Bitcoin with Netspend card instantly?
Can I buy Bitcoin with Netspend card anonymously?
More ways to buy cryptocurrency
Sources & references
Risk disclaimer
Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >
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