Category Archive Crypto Press Release

In this blog, I will teach you how you can buy cryptocurrency with a bank card using Coinbase, CEX, Coinmama, Changelly, Bitpanda, and other platforms.

Why should buying and selling crypto be harder than buying a cup of coffee? For a long time buying cryptos was a tricky thing to do. Unless you were very computer-savvy.

But now we have more options than ever when we want to buy cryptos easily. And using a bank card is now possible at plenty of good crypto platforms. Buying cryptos with a bank card makes it easier than ever.

Let us explore the best crypto platforms for buying cryptos safely and easily.

Best options to buy crypto with a bank card

According to us and the crypto community, these are some of the most popular and used options for buying cryptos easily with your bank card.

1 ) Coinbase

Coinbase is one of the most well–known brands for people to easily buy and sell cryptos. And of course buying cryptocurrencies with your bank card (debit card or credit card) is possible at Coinbase.

Coinbase of course deserves to be on this list. Coinbase have made it possible for people to buy and sell crypto easily for years. And is one of the biggest crypto exchange platforms in the world. Why are they so popular? Because they have made it so easy for beginners to buy cryptos with little effort. And using a bank card like a credit or debit card is included.

Head on over to www.coinbase.com to get started. You need an account with Coinbase to buy and sell cryptos there. If you don’t have one, then get started registering a new account. You need to have an ID ready and your bank card that you will link to your account. You can also buy cryptos using a range of payment methods at Coinbase.

Fees

Fees for buying at Coinbase with a bank card is 3.99% of the transaction.

2 ) CEX

Last on this list but not least, is www.cex.io. Where more than 3 million people have joined to buy cryptos easily. Using a bank card is definitely possible at CEX.

To get started you need an account, which takes just a few minutes to get going. At CEX you can buy a range of coins, such as Bitcoin, Ether, Zcash, Dash and Bitcoin Cash. You can buy using a bank card (debit and credit card) or via a bank transfer. CEX established in 2013 and have since become one of the most popular options for buying and selling cryptos easily.

Fees

The fees to buy cryptos using a bank card at CEX.IO is 2.99% using a bank card.

3 ) Coinmama

Third on the list Coinmama.

Coinmama no different than the other on this list. Buying cryptos with a bank card is easy and something you can do in just a few minutes.

Head over to www.coinmama.com and there you can a few banners on the site advertising how to buy cryptocurrencies using your card. You can see there how much in crypto you would get for lets say €100, €500, €1000, or your own chosen amount.

To get started using Coinmama you need an account. But setting one up takes just a few minutes. And it is a similar process as for all other options on this list.

Buying cryptos using Coinmama is very easy, and when you have an account ready you just need your bank card ready to get started. Remember you need a wallet to send your funds to.

Fees

The fees for buying cryptocurrencies with your bank card at Coinmama is 5.90%.

 

4 ) Changelly

First out in this list is the popular option of Changelly.

Changelly has grown to become a commonly used option for crypto investors looking to buy cryptos easily. But also swap them for another coin with little effort. And of course buying crypto with a bank card is something you can do at Changelly.

To get started go to www.changelly.com and then click on on ‘Buy crypto with a bank card’.

After that you decide which crypto you want to buy. And before you complete the purchase it is important to note that you need to have a wallet ready to send your funds to. But don’t worry creating a crypto wallet is easy.

Now if you want to buy Bitcoin you need a Bitcoin wallet, Ether then an Ethereum wallet, etc.

Select the cryptocurrency, and what amount you want to buy for.

Fees

The fees at Changelly are:
Changelly fee 5% and Simplex fee 5% (min $10).

5 ) Bitpanda

Number two on this list is Bitpanda. Bitpanda has since their launch grown very quickly. And is now one of the more commonly used options for Europeans who are looking to buy cryptos easily. At Bitpanda you can buy cryptocurrencies easily using a bank card amongst other payment methods

Head over to www.bitpanda.com and get started if you already have an account. Otherwise register one which only takes a few minutes. When you have an account ready you can get started buying cryptos with a bank card. And you can buy a range of exciting altcoins, such  as: IOTA, Bitcoin Cash, Litecoin, EOS, OmiseGO, NEO and more.

You can of course buy the big guns Bitcoin and Ethereum at Bitpanda too.

Right now Bitpanda is only available for EU citizens. Bitpanda accept a range of direct purchases from fiat currencies like USD, EUR, GBP, CHF

Fees

The fees for buying cryptos with a bank card at Bitpanda is 1.49% so that’s very cheap comparing to other options on this list.

6) Next on the list is Paybis.

The popular, UK-based cryptocurrency exchange has been helping people exchange digital currencies since 2014.

More specifically, Paybis is known for its support of multiple payment methods, including credit/debit cards, bank transfers, and e-money services.

The platform also offers the possibility to buy and sell Bitcoin anonymously, using payment methods such as Advanced Cash and Payeer.

Finally, what we like about this platform the most is its responsiveness. A multilingual support team is online at all times to help users with their questions, and if ID verification is necessary it only takes 5 minutes to complete.

Fees

Fees start at 1,5% per transaction and highly depend on the payment method used.

Common questions when buying crypto

We hope that this guide on buying cryptos using a bank card was helpful. To help you understand even better how cryptos work have we decided to answer some of the more common questions asked by beginners when entering the crypto space.

1 ) Do I need to buy whole coins?

A common confusion is if you have to buy a whole Bitcoin, Ethereum or other cryptocurrency? Which you don’t have to in the world of crypto. You can buy crypto in fractions, so you don’t have to buy one whole Bitcoin.

2 ) What is this I’m hearing about being my own bank?

Another common concern that crypto traders and holders eventually learns about or hears from a more experienced crypto trader, is that you need to be your own bank for crypto.

This means that high emphasis is placed on making sure you are storing your cryptos safely, like how your bank stores your fiat currencies.

This is because many cryptocurrency exchanges today are still less secure. So there are greater risks involved. Another reasons is that not every exchange or trading platform have made it possible for you to store your cryptos there. Like for Coinmama, Changelly and Bitpanda.

3 ) How do I sell cryptos later on?

Buying and selling cryptos should be as easy as buying a cup of coffee these days. So with more options like these five crypto platforms the better. For a long time, it was too difficult to buy and sell cryptos. The fees at these platforms might be a bit higher than at other exchanges. But for the ease of use and simplicity then it might be worth it.

I use these platforms from time to time myself because I just want to buy cryptos quickly. Otherwise, it can take a few days when transferring funds from your bank account. And if you want to buy cryptos quickly to make use of how the market moves then buying with a bank card is a great option to get in quickly.

If you are new to crypto and want to find more helpful guides on getting started then we recommend you reading this guide for best crypto starting tips and if you want to find more platforms to buy cryptos at then read this guide.

Tokenomics is the economics of tokens (cryptocurrencies). It is the study of token behaviour to read and analyse the token value over time as well as the factors that affect the token price.

What is Tokenomics?

Tokenomics usually include things like the total number of tokens, token distribution, token holding, token listing, trading, etc. The overall purpose is to incentivize positive growth of the respective token.

Until now, money or currencies were only issued by central banks under the guidance of governments. But cryptocurrencies have changed that. These are decentralized currencies which can be issued by just anyone, even individuals seeking to create their own micro-economies around the blockchain network.

So, basically, tokenomics is all about tokens: how they are created, sold, traded and increase/decrease in value.

How Does It Works?

So, how does it all work? Let’s see. The economics of tokens is governed by factors like token distribution, price, governance, adaption, etc. Let’s discuss each in details.

Token Distribution is how coins/tokens are circulated in the market in order to increase their applications as well as value. This is achieved in many ways. For instance, cryptocurrency mining is an activity where miners are rewarded with new coins. ICO (initial coin offering) is another method that companies utilize to distribute their tokens in the market.

Importance of Tokenomics

Another thing of importance in tokenomics is the price stability of tokens. Cryptocurrencies are volatile in nature, as their value change very frequently owing to demand and supply. Networks need to take care of this by maintaining sync between the supply and demand of their tokens in order to create a stable price.

Since cryptocurrencies are not controlled by any centralized entity such as banks or the government, the team behind a project is itself responsible to devise the rules for the creation (mining), distribution and trading of its tokens. While some projects choose to release all their tokens at once, some others prefer to hold a few tokens in reserve to be released later. The ‘burning’ of tokens is another popular method followed by some networks to help control the volatility of their tokens.

Governance of tokens also involves devising the rules for incentivising people who purchase, hold or use the said tokens. For instance, some networks reward their users for holding the tokens rather than selling them back.

Future Adaptation Of A Token

Moreover, tokenomics also details the future adaptation of a token and defines how the token will change over time. The team or developers behind a crypto project do not know whether their product will work in the future, this is why they need to make provisions to alter the way tokens are operated in the future, if need be. This is crucial in order to maintain a constant interest in the token.

For example, the supply (release, sell and trading) of Bitica coins is completely governed by the underlying rules devised by the team. A total of 18 million coins will be released, not more than that. The rules for the distribution of tokens are also mentioned in the project whitepaper and on the website.

The X20 is a new cryptocurrency mining/hashing algorithm which was founded by the Pieta.Network on the concept of the X11 and its successor hashing algorithm.

The fundamental working is the same, which is to increase the hashing of the mining process to make the overall process (and transactions) more efficient and secure. However, the X20 algorithm was created with another major purpose of reducing energy consumption in the crypto mining process.

How does the X20 Algorithm work?

The X20 algorithm is a proof-of-work mining/hashing function which provides a cost-effective alternative to high-end mining hardware such as Application-Specific Integrated Circuits, or ASICs.

The X20 algo works by enabling 20 round of hash functions, instead of just 1 or 2) for each mining transaction, therefore, encrypting each new value with 20 separate hash functions, thus increasing the security and efficiency of blockchain transactions.

Now, the X20 algorithm also speeds up the block creation process to less than 20 seconds by reducing the block size to 2 MB, in the Pieta project. The increased efficiency not only improves the mining speed but also makes it more energy efficient by keeping the mining hardware cool, as more blocks are now produced in less time and with less effort.

As the mining algorithm becomes more powerful, less power is required to produce each new block.

How can the X20 algorithm benefit us?

The biggest advantage of the implementation of the X20 algorithm in the mining process is the increased productivity and profitability for the miners.

But that’s not all, it also makes the overall process more energy efficient.

Benefit for the Environment

As the X20 algorithm limits energy consumption in the mining process by keeping the hardware cool, the emission of harmful gases and carbon is also limited by a great extent, thus making the bitcoin mining process more friendly to the environment. It also helps limit the cost of energy in mining.

Benefit for the Miners

The main benefit of X20 is for the miners who are troubled by the high cost of mining hardware and energy. The use of this algorithm is expected to reduce energy consumption in mining by as much as half, thus effectively reducing the cost of mining and increasing profitability. Low energy consumption means that the overall profits of miners will increase.

Pieta, in addition to the new X20 algorithm, also focuses on the use of green solar energy in the cryptocurrency mining activity, thus limiting the adverse impacts of mining on our ecosystem.