A guide on how to buy Bitcoin using a credit card for first time users and steps to use when registering an account.
What is Bitcoin Gold?
Bitcoin Gold is a cryptocurrency which split from the main Bitcoin blockchain in 2017, making it a Bitcoin a hard fork. The project is aiming to perform several improvements to the blockchain, such as decentralising the network through a Proof of Work algorithm called Equihash. It also is hoping to offer more transparency, fair distribution, and protection through the open-source software.
How to create a Bitcoin Gold wallet
Sign up for a free Coindirect account and you will automatically get a free Bitcoin Gold online wallet. You can use your Bitcoin Gold wallet to buy, sell, store, send (withdraw) and receive (deposit) BTG.
How to create a Bitcoin Gold address
Once you have signed up for a free Coindirect account all you need to do is press the ‘Receive’ button to reveal your Coindirect Bitcoin Gold wallet address.
How to buy Bitcoin Gold with a credit card
- Sign up for a free Coindirect account.
- Find your Bitcoin Gold Wallet and click the ‘Buy’ button in your Bitcoin Gold Wallet.
- Select “New VISA Card (EUR)” or “New credit card (NGN)” if you are in Nigeria.
- Enter EUR value of Bitcoin Gold you want to purchase (more than the minimum limit) or the Bitcoin Gold amount you want to buy and then click ‘Preview Buy’.
- You will receive a quote, press ‘confirm’ before the timer runs out (counts down from 55 seconds).
- Type in your credit card details and pay.
- You will be taken to a page to verify your transaction.
- Finally, you will be redirected back to your Coindirect Wallet once the payment is successful.
How do I purchase Bitcoin Gold from my bank account?
If you are in South Africa or in Europe in a SEPA country you can deposit ZAR and EUR into your Coindirect ZAR Wallet or Euro Wallet respectively.
To fund your account you have to transfer money using bank transfers. To get the funding instructions so that your account is credited:
- Go to your ZAR/EUR wallet and click the “Fund now” button. Alternatively, click the Fund tab in your Coindirect wallet and click on “Transfer Now”.
- Select the bank to transfer to from the drop-down menu to get payment details and the reference you should use (highlighted in blue).
- Transfer the money from your bank account into the account shown on the screen then wait for the bank transfer to be processed (0-3 business days depending on the bank).
- Once the funds reflect in your ZAR wallet, go to your Bitcoin Gold wallet and click “Buy” and select “Wallet (ZAR)” or “Wallet (EUR)” as you payment method.
Where can I sell my Bitcoin Gold?
You can sell Bitcoin Gold from your Coindirect wallet by clicking the ‘Sell’ button in your Bitcoin Gold wallet.
If you are in a SEPA region or South Africa. You can sell your Bitcoin Gold and instantly get money transferred to your Wallet (ZAR or EUR).
If you are in another region with no local currency wallet. You can sell your Bitcoin Gold by creating a sell offer on the marketplace.
Credit card limits
Please note that Coindirect has limits for credit card purchases in place.
Make sure that your account is verified so that your credit card purchase limits are increased.
Currently, the limits for credit card purchases are:
Unverified users – €175 – €500
Verified users – €890 – €1000
If you are interested in introducing your friends to a way to buy Bitcoin Gold with their credit cards, make sure you share a link through the Earn programme. If they sign up to Coindirect, both you and the friend will receive 5 XRP for free when they perform their first transaction.