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- 1 Stripe does not allow the purchase of cryptocurrency but it is used to fund the trading account.
- 2 To buy Bitcoin with Stripe, search for an exchange that supports Stripe payments.
Stripe is a payment-supporting service. The user can buy Bitcoin or any other cryptocurrency through an exchange that supports Stripe deposits. The user cannot store Bitcoin on it because it is a payment service, but can exchange the crypto.
Stripe is a financial and software company that is now used by many crypto exchanges for making payments. However, this payment platform is still not available in some countries. The process of buying Bitcoin (BTC) through this platform is very simple. The user has to follow certain steps to purchase BTC.
Step by Step Process to Buy Bitcoin and its Benefits
A photo ID and contact details are required to sign up with the platform to buy BTC with Stripe. Creating an account is essential before buying any type of cryptocurrency. Once signed up, enter the amount that has to be deposited and from the list of options available, select Stripe as the payment method.
In the search box select Bitcoin or any other currency in which the user wants to make a payment. Make the purchase, enter the desired amount of BTC, check the details, and process the transactions. After completion of the payment, Bitcoins will show up in the exchange account.
Skilling and OKX are some of the platforms that support Stripe for payments. The only risk is to look for a regulated Stripe Bitcoin broker. Using an unregulated broker platform is not advisable.
It will cost around 1% of the total transaction amount to buy Bitcoin through Stripe. The exact charge also depends on the exchange. Usually, anything more than 2% is expensive.
Using Stripe for Bitcoin payments is easy and has multiple benefits. It is a widely accepted method of payment. It facilitates the transfer of funds to crypto exchanges or brokers with security.
Stripe offers a range of funding options such as bank transfers and e-wallets which means it is accessible to a wide range of users. It is a quick and faster processing option when compared to other traditional payment methods.
Summary
Buying Bitcoin with Stripe is easy. This platform does not provide a facility to buy Bitcoin but it supports the payment to be made for buying the cryptocurrency. Some exchanges support Stripe as a payment option and in a very easy manner it is incorporated for making payments.
Stripe is used by many exchanges and leading brokerages. The fee is competitive. However, it is not available in all countries and some platforms charge high fees too.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
