For crypto enthusiasts looking to quickly invest in a project and buy the token when they have no penny, Zip Pay is what you need. Zip Pay offers a convenient way to complete payments for physical goods and services with the buy now, pay later (BNPL) scheme. Users can also leverage this scheme using the platform’s card to buy several digital assets, including Bitcoin. This guide will explain, in easy steps, how to buy BTC and crypto with Zip Pay.
Can I Buy Bitcoin and Crypto With Zip Pay?
Yes, you can buy Bitcoin or any other crypto with Zip Pay, but not directly. That is, Zip Pay does not allow direct purchases of cryptocurrencies on the app. Instead, you can fund a licensed crypto exchange wallet with the single-use Visa card generated on Zip Pay to buy the crypto you want.
We recommend eToro as the best platform for buying Bitcoin and crypto with Zip Pay. To begin, you must set up your eToro and POLi accounts. Register on the eToro crypto social platform and complete the KYC verification to proceed. Also, apply to request a loan on Zip Pay and generate a Visa card for the crypto you want to buy.
Step-by-step Guide to Buy Bitcoin and Crypto With Zip Pay
Once you confirm that your Zip Pay account is now with funds for a buy now pay later service, you can then proceed to buy crypto using the steps below:
- Open the eToro website and log in to your account.
- Click on Deposit → Credit/Debit Card on the homepage to proceed.
- Enter your Zip Pay Card details accordingly in the provided space. Ensure the numbers inputted on eToro match those on the card.
- Next, write the amount you wish to deposit and pass the verification pop-ups to confirm the transfer.
- Once your eToro has been funded, locate the trading section, select BTC or any other cryptocurrency, and specify the amount you want to buy. Follow the on-site prompts to Confirm the purchase.
Once you’ve completed the purchase, your crypto will appear in the wallet section within your eToro account. As for Zip Pay repayment, your purchase will be split into installments, due every two weeks to three months, depending on your loan plan. Ensure timely payments to avoid late fees.
Fees When Buying Bitcoin and Crypto With Zip Pay
Zip Pay fees are relatively low compared to other popular payment systems but must be understood to give you a better platform experience. Zip Pay fees include charges for depositing funds, withdrawal fees, and interest on late repayment. However, fees are usually 1.5% of the total money in question, that is, the deposited amount. Also, Zip Pay makes its loan interest-free if payments are made on time, but late payments can incur fees of 5$ on every missed payment. Contact Zip Pay Support for more details on the attached fees if possible.
About Zip Pay
Zip Pay is a “buy now, pay later” (BNPL) service that allows you to purchase products, cryptocurrencies, etc., on credit and pay for them in installments. The platform provides you with a spending limit, which varies depending on your creditworthiness and location. You can link your bank or card for automatic installment deduction, which is often divided into multiple payments and spread over a few weeks or months. The platform offers three levels: Zip Pay, Zip Plus, and Zip Money, each with distinct credit limits, repayment plans, and additional features. Zip Pay also lets its users create a single-use Visa card that can be used to shop in-store or online on all platforms that accept Visa cards.
Bottom Line
Following the abovementioned steps, you can buy Bitcoin and crypto with your Zip Pay card on eToro. Review the fee policies of both platforms to know what to expect regarding transaction fees for crypto purchases.
