Paysafecard is a gift card you can use to buy Bitcoin anonymously.
There are only a few online services that that allows purchase of Bitcoins with Paysafecard. And it’s a great way to get your crypto-coin securely.
Incase you don’t know, there’re 600,000+ outlets worldwide, where you can buy Paysafecard with SMS and other methods easily.
Paysafecard is a popular method of payment, for buying and selling BTC instantly.
It is ideal for buying small amount of Bitcoin crypto effortlessly.
However, maintaining your anonymity with this service comes with a price, and you should expect to lose about 20% of your money for it.
If you don’t feel comfortable leaving such amount of money just to buy Bitcoins anonymously, then you should check other options like;
While you now know about some other ways to buy BTC, let me show you how you can buying Bitcoin with the popular Paysafecard.
Let’s get started.
How you can convert Paysafecard to Bitcoins
- Create an account with LocalBitcoins
- Verify your account
- Go to ‘Buy Bitcoin’ section
- Select Paysafecard as payment method
- Open a trade with the vendor and complete terms
- Receive BTC directly into the exchange wallet.
That’s it… congratulations! You have successfully purchased Bitcoin with Paysafecard as the payment method for the first time.
2 ways to buy Bitcoin with Paysafecard
If you want to buy Bitcoin using Paysafecard services, then you have to find a reputable exchange, or P2P marketplace that will allow you to do it.
LocalCryptos launched in 2015, was known as LocalEthereum. It was initially built a P2P platform for buying Ethereum (ETH) only.
The platform later rebranded – adding Bitcoin (BTC) and Litecoin (LTC), as well as some other established crypto-coins.
This is a non-custodial peer-to-peer exchange. This means you do not have to deposit your crypto directly on the platform to sell.
Also, you are not required to verify your identity to use LocalCryptos.
Compared to Paxful, LocalCryptos has fewer payment methods, even though it continues to expand aggressively.
Sellers pay a 0.25% trading fee while buyers pay a 0.75% trading fee.
- 60+ payment methods
- Trade BTC, ETH, and LTC
- No KYC verification
- Lower exchange fee
- High security than other P2Ps
- Few supported cryptocurrencies
- Vendors can be scammed.
LocalBitcoins is a P2P (Person-to-Person) Bitcoin marketplace that specializes in connecting buyers and sellers, while serving as an escrow in the transactions.
LocalBitcoins gives vendors the ability to create offers in all currencies including Google Pay wallet.
- Available in every country of the world
- A diverse selection of buyers and sellers
- Supports many payment methods
- Buyers get their bitcoins fast
- Lack of cryptocurrency diversity
- Both sellers and buyers can be scammed.
Paxful cryptocurrency platform gives vendors the ability to create offers in all currencies.
- Escrow system
- Diverse payment methods
- Simple user interface (UI)
- Wide variety of sellers.
- Buyers and sellers are at risk of being scammed.
Frequently Asked Questions
Buying Bitcoin with Paysafecard
Once you follow through the process stated in this guide, you will be able to anonymously purchase Bitcoins securely with Paysafecard.
You can also exchange Paysafecard to BTC on forums, and one of the popular Bitcoin related forum is Bitcointalk.
Usually, there’s a 10% commission on Paysafecard to BTC conversion.
Meanwhile, leaving your investment in an exchange where you bought them is not safe, as you can risk loosing everything.