How to buy Bitcoin with Paysafecard

Buying Bitcoin online with Paysafecard

Bitcoin is a popular decentralised digital currency based on the blockchain. Paysafecard is preferred by users who want to buy Bitcoins without disclosing their personal information.

This page provides you with a guide for buying Bitcoins using Paysafecard. We explore the challenges,  the fees, and the platforms that accept Paysafecard for payment.

Best platforms to buy Bitcoin with Paysafecard – 2021

1
Minimum Deposit
$50
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User Score
10
More than 3,000 assets, including currencies, stocks, cryptocurrencies, ETFs, indices and commodities
Buy crypto, or trade cryptocurrencies via CFDs
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
2
Minimum Deposit
$250
Exclusive Promotion
User Score
8.1
Trade the global markets. Trade with real-time execution and professional tools
Follow and copy Naga's top traders who have mastered their trading strategies
Free personal account manager
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.48% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
3
Minimum Deposit
$50
Exclusive Promotion
User Score
7.5
Over 4 million customers worldwide
Buy, sell and trade nearly 200 digital assets
Verified within 15 minutes

What is Paysafecard?

Paysafecard facilitates payment through a prepaid payment card or voucher. Users can pay for goods and services online without disclosing their personal information.

The company was founded in 2000, and its headquarters are in Vienna, Austria. It has a presence in 49 countries. Paysafecard is owned by Paysafe, a company that also owns Neteller and Skrill.

Paysafecards are bought in 650,000 locations worldwide. Users can also purchase the card online by using a bank transfer or credit card. The cards you purchase have a value starting from $10 onwards. After the purchase, users receive a 16-PIN that represents the value purchased.  

There are two crypto marketplaces you can check to find the best deals. See the list below:

  1. Peer to peer Marketplaces – This is a buyers and sellers’ platform, where the sellers float the number of Bitcoins they have with their prices. The key here is to look for a merchant who offers Paysafecard as a payment option. Other details to check include a reputable seller score, reasonable prices, trading history, and seller availability. Some platforms offer these as a filter so that you remain with a select group.
  2. Crypto exchanges – Exchanges are a centralised platform for buying Bitcoins. Brokers and exchanges do not accept Paysafecard. There is another method where users can use other Paysafe digital wallets (Neteller and Skrill). 

Buy Bitcoin with Paysafecard now at our preferred partner

1
Minimum Deposit
$50
Exclusive Promotion
User Score
10
More than 3,000 assets, including currencies, stocks, cryptocurrencies, ETFs, indices and commodities
Buy crypto, or trade cryptocurrencies via CFDs
CopyPortfolios: Innovative, fully managed investment strategies
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Here are the advantages and disadvantages of using Paysafecard to purchase Bitcoins for you to consider.

ProsCons
Privacy – Buying Bitcoin using Paysafecard is a great way to hide your details. It provides users with anonymity.No support – There is no direct integration between exchanges/brokers that support Paysafecard payments for Bitcoins. Users have to use other third-party e-wallets to buy Bitcoins from exchanges. 
Good alternative to cash – A great alternative to buying Bitcoins instead of using cash.Risky – Vendors on P2P platforms consider payment by Paysafecard risky. Those who allow it charge higher fees.
Long process – Purchasing Bitcoins will involve more steps since Paysafecard users may have to transfer money to other third-party payment services. 
Higher fees – Due to the risk associated with Paysafecard as a payment method, fees become higher, especially on P2P platforms.

How does Bitcoin work?

Bitcoin transactions are recorded on a blockchain, which is a shared public ledger. Owners of Bitcoin can buy, sell and trade without the authorisation of a central authority. Records on a blockchain are immutable. The blockchain is decentralised, with various nodes working hard to certify and verify every transaction. 

How to buy Bitcoin with Paysafecard online

Here are some of the general steps to follow to complete a purchase:

Peer-to-peer(P2P) marketplace

Step 1: Open an account. This involves verifying your personal information.

Step 2: Click on “Buy Bitcoins.” This lists all the sellers who are selling Bitcoins.

Step 3: Search for merchants who accept Paysafecard as a form of payment. Other details to look out for include trust levels of the seller, price, volume, trade history, and response times of the seller.

Step 4: Check the trade terms applicable. If you are okay with the terms, proceed with the trade.

Step 5: Most marketplaces offer a chat option to talk to the seller and clarify any questions you may have.

Step 6: Transfer money from your Paysafecard account to the merchant’s account.

Step 7: At this point, the Bitcoins you purchase are in an escrow account. They are released once the merchant confirms receipt of payment.

Some reputable peer to peer exchanges users can use include:

  1. Paxful
  2. Bitpapa
  3. LocalBitcoins

Congratulations, you’ve just bought your first Bitcoin with Paysafecard!

Top platforms to buy Bitcoin with Paysafecard

1
Minimum Deposit
$50
Exclusive Promotion
User Score
10
More than 3,000 assets, including currencies, stocks, cryptocurrencies, ETFs, indices and commodities
Buy crypto, or trade cryptocurrencies via CFDs
CopyPortfolios: Innovative, fully managed investment strategies
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
2
Minimum Deposit
$250
Exclusive Promotion
User Score
8.1
Trade the global markets. Trade with real-time execution and professional tools
Follow and copy Naga's top traders who have mastered their trading strategies
Free personal account manager
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.48% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
3
Minimum Deposit
$50
Exclusive Promotion
User Score
7.5
Over 4 million customers worldwide
Buy, sell and trade nearly 200 digital assets
Verified within 15 minutes

Crypto Exchanges and Brokers

Paysafecard is not a typical digital payment platform that is integrated with exchanges and brokers to buy cryptocurrency. Crediting Neteller and Skrill from Paysafecard is an extra step users can take. With these two payment services, users can purchase Bitcoins in many exchanges and brokers. Reputable exchanges and brokers include Coinbase, Coimama, and eToro.

Here are the general steps to follow:

Step 1: Open an account on Neteller/Skrill. 

Step 2: Purchase a Paysafecard and download the PIN code. Access the Neteller/Skrill account and perform a deposit. 

Step 3: Find a suitable crypto exchange with reasonable transaction fees. Open an account and follow through with the verification process.

Step 4: Add the Neteller/Skrill as a payment option and deposit funds into your account. Choose the amount you wish to transfer.

Step 5: Place an order. This involves entering the amount you wish to spend. Confirm the order, transactions fees, and sanction the transaction.

Step 6: Transfer the Bitcoins to your wallet. Examples include Exodus, which is suitable for beginners, and Electrum for advanced users. Note, some exchanges will require a wallet address to complete the transaction.