Users of NetSpend banking services can now leverage their accounts to purchase any digital asset of their choice. NetSpend is a prepaid debit card service widely used for online transactions, including ATM withdrawals, money transfers, and other financial payments. Interestingly, the platform is also a fast, cheap, and secure option to buy any crypto assets on several exchanges. This article provides a step-by-step guide to buying Bitcoin and other cryptocurrencies using NetSpend prepaid services.
Can I Buy Bitcoin and Crypto With NetSpend?
Yes, you can buy BTC, ETH, USDT, and other crypto using your NetSpend card on exchanges that accept debit card payment methods for crypto purchases. eToro is one such exchange platform where you can link your NetSpend card to buy any of the supported cryptocurrencies.
To buy crypto with NetSpend on eToro, you must first create an eToro account and complete the necessary verification procedures. Also, ensure your NetSpend card is funded with enough money to pay for the asset you want to buy.
Step-by-step Guide to Buy Bitcoin and Crypto With NetSpend on eToro
Once you’ve met the criteria explained above, you can proceed to buy any cryptocurrency on eToro using your NetSpend card. Summarily, the process involves linking your NetSpend card to eToro, making deposits into your eToro wallet, and then buying assets with the deposited funds. Here’s a more specific guide to complete the process:
- Log in to your newly created eToro account via the app or official website.
- Click on Deposit → Credit/Debit Card on the homepage to proceed.
- Enter your NetSpend Card details accordingly in the provided space. Ensure there are no discrepancies between the card digits and what you input on eToro.
- Specify the amount you wish to deposit and pass the verification popups to confirm the transfer.
- Next, navigate to the trading section on eToro, select BTC or any other cryptocurrency, and specify the amount you want to buy. Follow the prompts to Confirm the purchase.
eToro mandates making deposits into your account via your debit/credit cards before you can buy crypto with them. So, ensure the inputted details on eToro and the ones on your NetSpend correspond with each other. Also, since NetSpend offers both prepaid MasterCard and Visa debit cards, ensure that you’re linking the exact type you own to your eToro account.
Fees When Buying Bitcoin and Crypto With NetSpend
NetSpend charges a minimal fee ranging from 0-4% on several transactions, depending on their size and currency used. There are also monthly maintenance fees, reload fees, and several other fees. Likewise, eToro has its fee structure, which, in this case, includes currency conversion fees and other standard charges. Ensure you crosscheck these platforms’ fee policies as they undergo constant updates over time.
About NetSpend
NetSpend is a popular financial technology company specializing in providing prepaid debit card services. The platform facilitates money transfers and item purchases and offers multiple ways to load funds, including direct deposits, bank transfers, and cash reloads at partner retailers. The company’s most notable product is the NetSpend Card, which provides some of the same features as a traditional bank card and several other perks.
With a NetSpend Card, you can make purchases at stores, over the phone, and anywhere. MasterCard and Visa debit cards are allowed. Also, NetSpend cards are an alternative pathway to entering the crypto space. Users can link their cards to cryptocurrency exchanges like eToro, which accepts debit/credit card deposits into their wallets. The deposited funds can then be used to purchase Bitcoin or any other cryptocurrencies.
Bottom Line
By following the steps above, you can use your NetSpend card to make crypto purchases. NetSpend’s versatility and advanced technological innovations make it acceptable as a deposit method on several major crypto exchanges, including eToro. However, you must look out for the attached transaction fees when making your Bitcoin or crypto purchase.
