How to Buy Bitcoin with Payoneer

Payoneer is a popular payment method for buying and selling BTC. In this guide, you will learn how you can buy Bitcoins with your Payoneer.

By The 'Staunch

Payoneer is one of the best methods to buy and sell Bitcoin.

All you need to do is pay with Payoneer to have Bitcoin in your crypto wallet in less than an hour.

Recently, I’ve been searching for different tested and trusted ways to pay for Bitcoin and Altcoins securely.

In this guide, am going to show you how you can buy Bitcoin with Payoneer Mastercard or account instantly.

Before we forge ahead, it would be good to briefly explain what Payoneer is and it works as a payment processing system.

Let’s begin.

Payoneer overview

Payoneer is a global payment platform that allows users to send and receive money in over 200 countries.

It’s a popular choice for online workers and freelancers, as it offers low fees and fast transactions.

You can also get a physical Payoneer card, which can be used to withdraw cash from ATMs or make purchases anywhere that accepts Mastercard.

How to buy BTC with Payoneer

The most easy and secure exchange to use in buying Bitcoin and other cryptocurrency is Binance platform.

If you don’t know about this crypto platform, then you will also need to read my review on the Binance exchange.

  1. Create an account with Binance
  2. Go through the KYC verifications
  3. Log into your account on the exchange
  4. Go-to the P2P marketplace section
  5. Search for vendors that accepts Payoneer
  6. Enter the amount of BTC you want to buy
  7. Follow the vendor’s payment guideline
  8. Make payment and wait for the confirmation.

Once the vendor receives and confirm your payment alert, the escrow service will then release the Bitcoin to your account wallet.

Best ways to buy Bitcoin with Payoneer

If you must know, you can buy Bitcoin in several ways using Payoneer account, but below are the best recommended exchanges I’ve used myself.

1. Binance (Recommended)

Binance Exchange

Binance P2P is a platform provided by the renowned cryptocurrency exchange for Peer-to-Peer transactions.

It enables users to buy and sell Bitcoin and other cryptocurrencies directly with other users using various payment methods.

Binance is for experienced investors who are looking for a respectable platform to perform real-time exchanges.

It has support for over 166+ cryptocurrencies.

Both beginners and advanced investors have a myriad of tools and pairs available to them within one powerful exchange platform.

It accepts deposits in over 50+ currencies including USD, EUR, JPY, KRW, GBP, AUD, RUB, and many more.

Highlights:

  • Trustworthy management
  • High volume exchange
  • Large number of crypto pairs
  • Global support
  • Low fees

2. LocalCoinSwap

Localcoinswap

LocalCoinSwap is a Hong-Kong based Peer-to-Peer cryptocurrency exchange serving the market since 2017.

It’s a multi-currency P2P marketplace that allows you to buy or sell Bitcoin including other 20+ crypto-coins with over 200 payment options.

No withdrawal or deposit limits are there yet, which is their USP.

It’s a perfect LocalBitcoins alternative, which is a P2P marketplace that connects anyone, anywhere to buy cryptocurrencies with optional KYC.

Note: Optional KYC is another useful feature that LocalCoinSwap has because at LocalBitcoins the KYC is mandatory these days – So signing up is quite easy, you need only email ID to get started.

When you go-to LCS, select what you want to buy or sell, select cryptocurrency and fiat currency, then select location with payment methods to see list of sellers.

Meet the sellers in-person, or deal online as per the terms of trade, where LocalCoinSwap will act as an escrow.

Highlights:

  • Multi-chain P2P marketplace
  • Optional KYC verification
  • Implements Escrow scripts
  • Two-factor authentication available
  • Supports 300+ payment methods
  • Supports 20+ cryptocurrencies
  • Available for 160+ fiat currencies
  • 95% of deposits are in cold storages
  • 24/7 customer service

How to choose an exchange

If you are going to use a P2P exchange to buy crypto-coins with Payoneer, these following factors are what you need to consider when selecting a broker:

1. Low Fees

Brokers pick their own fees to complete the transaction, and their fee does not include the platform fee, which is usually around 0.2%.

Make sure you try to find a BTC Broker that is charging under 0.6% – Anything higher is too expensive.

2. Reputation

Both Paxful and Local Bitcoins track the reputation of each broker by allowing buyers to leave reviews.

You want to find someone who will sell to Payoneer buyers that has had over 90% success rate.

3. Security

Meanwhile, be wary of Bitcoin vendors that asks for your personal information on the platform.

If they ask for personal information it is a red-flag and you should ultimately avoid them.

Final conclusion

As you have seen, the whole process of purchasing BTC with Payoneer is a lot simpler and very easy.

However, you will need to be very careful as those Bitcoin P2P marketplaces have high risk of thefts.

Make sure to always purchase BTC from verified vendors with good reputation on the P2P platforms.

If you prefer to may use of mobile in-app payments to buy BTC, you can read my guide on how to buy Bitcoin with Google Pay wallet or Apple Pay (Respectively).

Do not forget to secure your investment with a secure hardware wallet, or you can download Trust mobile crypto wallet to keep your Bitcoin safe.

About the 'Staunch

Henry is the founder of Crypto Staunch. He studied accounting and finance at Godfrey Okoye University, but became a Cryptopreneur to pursue his interest in learning digital currency and asset investment. Since 2018, Henry Kings has writing about Crypto, DeFi & NFT to help other people get started in the space. His publications has been featured in Binance Square, Digest Africa, Tech Economy, International Business Times, CoinDesk and many other top Crypto media outlets.

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About The 'Staunch

Henry is the founder of Crypto Staunch. He studied accounting and finance at Godfrey Okoye University, but became a Cryptopreneur to pursue his interest in learning digital currency and asset investment. Since 2018, Henry Kings has writing about Crypto, DeFi & NFT to help other people get started in the space. His publications has been featured in Binance Square, Digest Africa, Tech Economy, International Business Times, CoinDesk and many other top Crypto media outlets.