Uphold is a crypto trading platform that allows its users to also trade other assets such as precious stones and stocks. This has earned it the slogan “trade anything for anything”.
Although it is headquartered in Europe, you can use it to buy and trade assets from several countries. There are many ways to buy crypto or deposit fiat currencies on Uphold. The easiest however is to use a credit card.
Using a credit card to buy BTC for example has several advantages, even though it comes with a higher fee than the other methods.
First, you get the BTC instantly, unlike other methods. Secondly, it is an easy way to buy BTC because everyone is already familiar with how to use a credit card, including absolute beginners.
Therefore even if you’re just starting out today on your crypto investing journey, you can use this method to successfully buy BTC.
In this guide, we will show you step-by-step how to use your credit card to buy BTC on this platform.
How to Buy BTC With a Credit Card
If you’re just starting out or you’re new to Uphold, you’ll first need to create and verify an account with the platform. It is important that you use the correct Uphold web address as shown in the steps below in order to avoid phishing traps.
Create an Account
- Go to the official Uphold website and click on the Sign Up button on the top-right corner of the homepage. You’ll be shown a short warning message about scams, read it and click on I Understand to continue.
- Provide your email address and create a password. You have an option to choose if you want a personal or business account, but we are going with personal in this guide. You’ll also need to fill in your country of residence and your country of citizenship as well as accept the terms and conditions to continue.
- Next, you’ll need to verify your email by providing a confirmation code sent to your provided email address. Once this is done, your registration will be completed, but you’ll need to verify your account.
- Click on the Verify button and provide the required details such as your date of birth, full address, postal code, phone number etc. you’ll also be required to provide a government-issued identity document and to take a selfie as part of this process.
Wait for a short while and you’ll get feedback on the status of your verification. Once your account is verified, you can now proceed to buy BTC.
Buying BTC
Now that you have your account all set, follow these steps to buy your BTC.
- Log into your verified Uphold account.
- Click on Transact to the right of your wallet screen.
- Click on the Select source button and then select Credit or Debit Cards.
- Click on the + button and enter your card details, including card number, expiry date, and CVV.
- Choose your preferred currency among the ones listed and then click on Add card.
- Next, choose the amount you wish to spend and then select BTC from the To button.
- Click on Preview Deposit to see how much you’re depositing, the fees, and how much BTC you’ll get.
- If you’re happy with the details, go ahead and click on Confirm and you’ll authorize the buying of BTC. The transaction will be processed shortly and the BTC deposited in your Uphold wallet shortly.
There may be a lock up period during which you can’t withdraw the BTC for security reasons. When the time elapses, you can withdraw the BTC to your personal wallet if that;s what you want. Otherwise, you can start trading your BTC on the platform right away.
Final Thoughts
You have successfully purchased your first BTC on Uphold using a credit card. Unless you’re going to trade the asset right away, it is advisable to withdraw it to a personal wallet, preferably a hardware one to keep it safe.
