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Summary: To buy crypto with a Paysafecard, you will need to sign up with a regulated crypto exchange like eToro and deposit your chosen fiat currency through the Paysafecard app or with a 16-digit code.
Can you buy crypto with Paysafecard?
You can buy crypto with Paysafecard, but you need to connect to a licensed cryptocurrency exchange that accepts deposits through the Paysafecard app or the 16-digit PIN.
If you want to purchase Bitcoin (BTC) or any other cryptocurrency anonymously, using the prepaid 16-digit number method is one of the best ways to ensure anonymity. However, the Paysafecard has a 50 EUR limit per PIN, which would require many transactions for large purchases. On the other hand, if you register an account with Paysafecard, the limit goes up to 1,500 EUR.
Note
How to buy crypto with Paysafecard?
The best way to buy cryptocurrency with a Paysafecard is through a regulated broker like eToro, which is a widely trusted multi-asset investing platform with over 70 cryptocurrencies and unique features such as “Copy Trading” (enables users to imitate top-performing crypto traders), a staking service, custom watchlist, as well as advanced charts and technical analysis tools.
Unfortunately, as Paysafecard is a prepaid card, eToro doesn’t accept it. However, you can use third-party payment methods, such as PayPal or Skrill, as a simple workaround to use Paysafecard to deposit funds to your eToro account. You’ll need an active PayPal account with a linked card or available funds.
How to buy crypto with Paysafecard: Step-by-Step
You can get started in minutes with five simple steps:
- Step 1: Create an account on eToro and complete your verification (personal or company);
- Step 2: Deposit money from your Paysafecard to your PayPal account;
- Step 3: Enter the cash amount you want to deposit on the eToro platform;
- Step 4: Connect your PayPal to deposit your selected fiat currency;
- Step 5: The final step is to find the cryptocurrency you want to purchase and execute your trade.
About Paysafecard
Paysafecard is a prepaid online payment method based on vouchers with a 16-digit PIN code independent of a bank account, credit card, or other personal information. In addition to the anonymous card, the company also offers the Paysafecard account (payments can then be made with a username and password) and the Paysafecard Mastercard.
Starting in Austria in 2000, the Paysafecard is available in 60 countries worldwide.
Paysafecard’s crypto policy
Paysafecard has no policies prohibiting its users from buying and selling digital assets through licensed exchanges. However, some online brokers won’t accept prepaid cards. In that case, investors can deposit funds into their accounts using third-party payment platforms such as PayPal or Stripe.
How to buy crypto safely
As a relatively new asset class, cryptocurrencies remain highly speculative and subject to extreme price volatility, making them much riskier than traditional financial instruments such as stocks or bonds. In addition, fraud and cybercrime in the crypto sphere are particularly rampant, putting both seasoned and inexperienced investors at risk.
Fortunately, there are steps you can take to ensure you’re being careful when buying crypto. Let’s look at a few tips on what you should do when getting started with digital assets and how to best protect yourself and your money:
- Research the cryptocurrency you want to buy: Make sure you understand how it works and what the risks are;
- Only use a safe device: Avoid public computers and Wi-Fi networks. Always use your personal computer with a VPN, which helps establish a secure connection between you and the web, keeping your sensitive information safe;
- Choose a reputable exchange: Ensure the exchange is licensed by the appropriate regulators in your country and has a solid track record. Study the exchange’s user terms and agreements carefully to learn more about where your money is kept and what happens to your funds if the business goes bankrupt. You may also want to scour through user reviews to catch any red flags;
- Secure your account: Use two-factor authentication and a strong password to protect your account;
- Use a secure wallet: Store your cryptocurrency in a secure wallet to protect it from hackers. You can opt for either a hot (online) or cold (offline) wallet. To choose the right one for you, make sure to check out our in-depth guide on crypto wallets;
- Don’t invest money you can’t afford to lose: Because the crypto market can be so volatile, you need to be conservative with your investments, particularly when starting out. For more investing tips, have a look at our guide on investing mistakes to avoid;
- Monitor your investments: Keep an eye on the market and be aware of any changes in the price of the cryptocurrency you’re investing in.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
FAQs about how to buy crypto with Paysafecard:
Can you buy crypto with Paysafecard?
Yes, customers can use Paysafecard to deposit funds to licensed third-party crypto brokers and buy cryptocurrencies. However, some brokers, such as eToro, will require you to link your Paysafecard to a payment platform like PayPal before you can deposit funds.
How to buy crypto with Paysafecard?
You can buy crypto with Paysafecard through a licensed third-party cryptocurrency platform.
What is Paysafecard's crypto policy?
Paysafecard has no policies prohibiting its customers from using its services to buy, sell and trade digital assets through regulated exchanges. However, some crypto brokers may not accept prepaid cards and require you to first link to a third-party payment service.
Where to buy crypto with Paysafecard?
You can buy crypto with Paysafecard through various online brokers offering digital assets. However, some exchanges may not accept prepaid cards, and you have to use a third-party payment platform, such as PayPal or Skrill.
