How to Buy Bitcoin with Payoneer

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Author: Mr. KingsHOK
An accountant who turned cryptopreneur to pursue my interest in crypto and decentralized finance. Let me show you how to invest safely in the space with my experience over the years.

Payoneer is one of the popular payment methods for buying and selling 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.

Shall we…?

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

To make this tutorial easier, I will guide you on how to buy Bitcoin with Payoneer on LocalBitcoins marketplace.

  1. Create an account with LocalBitcoins
  2. Verify your LBC account
  3. Search for vendors that accepts Google Pay
  4. Enter the amount you want to buy
  5. Follow the vendor’s payment guideline
  6. Receive BTC directly into your wallet.

Best ways to buy Bitcoin with Payoneer

There are only two ways to buy Bitcoin using Payoneer account, and below are the ones I’ve used to purchase BTC myself.

1. LocalBitcoins (Most popular)

Localbitcoins

LocalBitcoins is a P2P Bitcoin marketplace that specializes in connecting buyers and sellers, while serving as an escrow.

LocalBitcoins gives vendors the ability to create offers in all currencies including Google Pay wallet.

ProsCons
Available in every country of the worldLack of cryptocurrency diversity
A diverse selection of buyers and sellersBoth sellers and buyers can be scammed
Supports many payment methods
Buyers get their bitcoins fast
Private

Buy BTC on LocalBitcoins

2. Paxful

Paxful Exchange

Paxful is an alternative to LBC, well over 300 payment methods, with focus on users that buy and sell Bitcoin cryptocurrency only.

Just like LocalBitcoins, it also serves as an escrow.

Paxful cryptocurrency Peer-to-Peer marketplace platform gives vendors the ability to create offers in all currencies.

ProsCons
Buy any crypto with PayoneerLess number of cryptocurrency support
Reputation stats make it easy to find trusted sellersP2P fees are 1%
Clean and easy to use iOS/Android App
Safe and secure sellers
Private

Things to consider

If you are going to use a P2P exchange to buy cryptocurrencies with Payoneer, these are the following factors you need to lookout for 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.

How does Payoneer work?

Businesses and individuals can send requests for payment, or invoices directly to customers, who can pay online via a bank account or credit card.

Funds are then transferred to a Payoneer account, and a business can deposit the funds into its bank account, or use the money via a Payoneer debit card

How do I send Bitcoin to Payoneer?

Go to the broker’s website, and select the Payoneer option on the ‘Add money’ screen.

Once you do that, you’ll be prompted to link your Payoneer account to your brokerage account.

Enter the amount of Bitcoin or any other cryptocurrency you want and select Payoneer as the payment method.

Does Paxful support Payoneer?

Paxful makes it safe and easy for you to purchase any amount of Bitcoin an few other crypto-coins on the platform.

All you have to do is find the best offer, and buy cryptocurrency of your choice using Payoneer in simple steps.

Does Binance support Payoneer?

Yes it’s possible to buy Bitcoin and altcoins using Payoneer Mastercard directly from the exchange.

However, to buy crypto on Binance without Payoneer card, you will have to use the P2P marketplace section of the platform.

Can I buy Bitcoin with Payoneer card?

Yes you can buy Bitcoin ans alternate cryptocurrencies with Payoneer Mastercard, but you can only do it with an exchange that supports it.

To learn more about how to buy BTC with Payoneer card, read my guide on how to buy Bitcoin with credit/debit card online.

Can I withdraw BTC to Payoneer?

To cashout Bitcoin to Payoneer is as simple as purchasing a cryptocurrency asset with it.

You just have to specify the amount of BTC you want to sell on a P2P exchange, then choose Payoneer as payment method for the transaction.

Does Payoneer accept Bitcoin and crypto?

No, Payoneer doesn’t support any cryptocurrency, and you’ll need to find an alternative platform.

Is Payoneer the best payment method to buy Bitcoin?

Payoneer is suitable for buying Bitcoin and Altcoins, even though it’s possible on only peer-to-peer platforms.

What makes it stand out is that the whole experience is simple and easy on the sites that facilitate this type of exchange.

Always make sure to carefully check each offer before proceeding with the transaction.

Can I buy cryptocurrency anonymously with Payoneer?

It depends totally on the platform you’re using to purchase the crypto-coin.

In most cases, you’ll still have to provide some personal information along the process.

Moreover, you’ll need to verify your identity before you can use Payoneer.

However, you can also read my detailed guide on how to buy Bitcoin anonymouslywith PayPal.

Can I transfer from Payoneer to Binance without card?

No, you cannot transfer Payoneer funds directly to Binance exchange without the credit card.

If you’re looking for how to link Payoneer to Binance, just know that is not possible as the payment does not support crypto transactions.

However, using the Binance P2P, you can buy crypto directly with other users that allow the Payoneer payment method.

Over to you: Buy Bitcoin with Payoneer

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.