Thanks to the technology and the fast evolution of the crypto market, today there are multiple options available for anyone who wants to buy cryptocurrencies. Did you know you can now buy Bitcoins or ETH using your bank account as well as your payment cards? A few exchanges even allow you to buy Bitcoin using a prepaid card.
If you are looking for the best way to buy Bitcoin or ETH with a prepaid card in India, you’re at the right place.
What’s a prepaid card?
A prepaid card is exactly what it sounds like. It’s a payment card, like a gift voucher, that allows you to buy/shop from a website or store that accepts that particular card using the money stored in the card.
The major benefit of using a prepaid card for transactions is that the value is stored in the card itself and not on an external account, and allows instant processing without requiring network access.
Prepaid cards in India are issued by banks and a range of financial institutions. Common types include gift cards, corporate cards, food cards, and others. Some prepaid cards are meant for single use while others are reusable.
Why use a prepaid card to buy Bitcoin/ETH
One of the biggest benefits of using a prepaid card for your purchase is that you are using money that you own, i.e. you are not borrowing money from a bank or anyone else, which you do when you use credit cards.
By using a prepaid card to buy Bitcoin or ETH, you ensure that you are not overspending or borrowing money to invest.
Also, buying cryptocurrencies using a prepaid card is convenient, as you need not connect to a bank or card network in order for the transaction to process. The card itself stores the monetary value and can be instantly used to buy Bitcoin.
At the same time, using a prepaid card over a debit card is also a wise idea when you are investing in something as volatile as cryptocurrencies, as prepaid cards allow you to only spend the money you have already loaded into your card, unlike debit cards that give you access to all the funds in your bank account.
How To Buy Bitcoin/Ethereum with A Prepaid Card
So, you have loaded your prepaid card and are ready to invest in cryptocurrencies, what next?
Well, the next obvious step is to find the right platform to buy BTC or ETH from. There are some crypto exchanges that allow you to buy/sell cryptocurrencies in India. The exchange you choose must support payments using a prepaid card, which narrows down the list to only a couple of options, including Shiftal and Paxful.
Shiftal is a fast-growing P2P crypto exchange for Bitcoin and ETH. As a P2P exchange, Shiftal allows users to buy and sell top digital currencies directly with each other and pay (or get paid) using 70+ options, including prepaid cards, online wallets, bank transfer and others.
Here’s the step-by-step process to buying Bitcoin & ETH easily using a prepaid card on the Shiftal Exchange.
Shiftal follows a direct barter-based system, where users can trade directly with each other. So, when you want to buy Bitcoin or ETH, you only have to find the right seller on Shiftal. You can do that in the following two ways:
- Choose a buy advertisement that fits your needs & budget
- Create a new trade advertisement
1. Choose from existing buy advertisements
Sellers who wish to sell their bitcoins through direct trade have listed their advertisements on the Shiftal platform. You can see all active buy advertisements on the website after selecting your location and desired payment method (prepaid card).
If you find the right advertisement that fits both your requirements and budget, you can proceed to trade directly with the seller. If both parties agree, you can proceed to make the payment directly to the seller’s account/option using your prepaid card, after which Shiftal will automatically credit coins to your account post verifying the payment with the seller.
All trades on the Shiftal Exchange are 100% secured by Escrow, so there is zero probability of fraud transactions. For instance, a seller has to first send his coins to the escrow before he can receive a payment from the buyer.
2. Create a new trade advertisement
In case there is no advertisement that perfectly matches your needs & budget to buy ETH or BTC, you can create your own new trade advertisement on Shiftal.
To post a new Bitcoin/ETH buy ad, click on the Post Trade option on the Shiftal website. On the next page, enter your offer details along with the preferred payment method. Click the button to publish your ad.
Now, wait for the right seller to find and click on your advertisement. Then you can talk to them directly and negotiate the terms of trade.
If both parties agree, pay directly to the seller account using your prepaid card and receive coins instantly in your account upon successful payment verification by Shiftal.
Shiftal is now India’s leading peer-to-peer bitcoin exchange with support to over 70 payment methods, including UPI, NEFT, IMPS, debit card, prepaid card, credit card, and digital wallets. So, what are you waiting for? Start searching for the right offer on Shiftal to buy Bitcoin or ETH instantly & securely.
