Where can I exchange my visa gift card to bitcoin?
Darcy Due to the Bitcoin market’s remarkable growth over the last 10 years, it is now possible to buy Bitcoin in a number of different ways. Some of the most popular ways to do this are with a traditional debit/credit card or bank account on a cryptocurrency exchange. However, did you know that it is also possible to buy Bitcoin with a VISA gift card?
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In our Buy Bitcoin with VISA Gift Card guide, we are going to show you exactly how to do it, step-by-step.
Setting up Your VISA Gift Card
Prior to getting started, you will need to make sure you have your VISA gift card loaded with enough funds for whatever amount of Bitcoin you’d like to purchase, including transaction fees. If the type of gift card you are using requires you to register your personal information (not all do), then you need to ensure that the name and addresses registered to the VISA gift card match your real-world identity, as you will need to provide matching information to the exchange platform when you purchase your Bitcoin.
In most cases, if a cryptocurrency exchange or broker accepts debit or credit cards, then by default your VISA gift card should be fine to use.
Although there are a plethora of platforms that now accept VISA gift cards, we are going to take you through the process with Coinbase. The reason for this is that Coinbase is one of the most straightforward brokers through which you can purchase Bitcoin, making it ideal for first-time users. It is important to note that Coinbase charges a 3.99% fee to use a payment card and an additional 1.5% transaction fee. Be sure to take this into account if you are funding the VISA card solely for this purpose.
Can I purchase Bitcoin anonymously using a VISA gift card?
In most cases, when you purchase your VISA gift card, there is no requirement to provide the merchant with any identification. In this sense, you can purchase the card anonymously. However, when it comes to purchasing Bitcoin through a third-party exchange, you will need to go through a KYC process, just like you would if you were using a traditional bank card.
The reason for this is that you are using fiat currency to purchase Bitcoin, which means you must be identified. At an absolute minimum, you will need to provide the platform with your full name and country of residence. Furthermore, you will also need to upload a form of government-issued ID, which can either be your passport or driver’s license.