Payoneer Card for Buying Cryptocurrency: A Complete Guide

1. Payoneer: What is it?

Payoneer successfully performs digital payments and money transfers online as a financial service company. Users can send and receive money through an e-wallet and have valid accounts to withdraw money via ATMs or make purchases online. Payoneer offers three cards responding to different currencies, including Euro, USD, GBP, Canadian dollar, and Australian dollar. The platform offers cross-border payment services in over 150 currencies in 200 countries. About 4 million customers trust it as it also supports B2B transactions.

Payoneer was established in 2005 and earned a high trust level and credibility over the years. The user can use their balance to purchase cryptocurrency if they have it in their Payoneer account.

2. How to Buy Bitcoin with Payoneer?

Payoneer doesn’t offer cryptocurrency service; however, you can store your bitcoins in your cold storage wallet and transfer them to the hot wallet for crypto exchange if you want to do trading. Also, you can use Payoneer Bitcoin Brokers if you trust them to buy cryptocurrency. It provides you exchange service so you can buy BTC with Payoneer.

3. Benefits of Using a Payoneer Card for Buying Cryptocurrency

There are several benefits of using a Payoneer card for buying cryptocurrency. Some of the most prominent benefits are discussed here:

• Security: Payoneer secured system to process your transactions when using a Payoneer card. It means that your financial and personal information is secure from hackers.
• Speed: Payoneer makes the transaction process fast, so you don't have to wait for your crypto coins.
• Convenience: Payoneer cards can be used with any platform which accepts Mastercard, easing the buying and withdrawing cash from ATMs via using your coins.

If you struggle to find the secure and fastest process to get cryptocurrency as soon as possible, preferring a Payoneer card is one of the best options. Let’s learn more to use it efficiently.

4. What is a Payoneer Bitcoin Broker?

Payoneer Bitcoin brokers are like most other Bitcoin brokers, except that they accept Payoneer as a payment option. These services act as brokers in most situations, connecting you to other individuals that sell Bitcoin and accept Payoneer payments. As a result, many bitcoin applications act as intermediaries, facilitating exchange between users. They verify that all transactions are carried out following the original agreement and that no party is left without the cash or coins they were promised.

5. How to Use Payoneer Card to Buy Cryptocurrency?

A Payoneer card is an excellent choice if you're seeking a safe and quick way to acquire cryptocurrencies. Here's how to go about it:

To begin, you must create a Payoneer account. You may accomplish this by visiting the website and following the on-screen directions. Once you've created an account, you'll need to provide your banking information so that Payoneer can send you an actual card.

Payoneer is not widely accepted as a payment mechanism on many Bitcoin services. It's also nearly hard to make similar transactions with the Payoneer card. As a payments service, Payoneer is primarily intended to enable business-to-business (B2B) transactions. As a result, the organization does not want consumers to utilize the platform for anything regarding buying and selling Bitcoin. While this is wholly understandable from a business standpoint, it's terrible news for you because some prominent Bitcoin exchanges will not allow you to fund your account using Payoneer.

Specific platforms will enable you to purchase Bitcoin via Payoneer. LocalBitcoins and Paxful are two examples of these systems, often peer-to-peer (P2P) brokers. You can acquire Bitcoins from other registered users using brokers who accept Payoneer. You must pay for your money in fiat currency, a fixed sum that you may transfer to their Payoneer account.

Paxful Allows to Buy Cryptocurrency with Payoneer

Paxful is one of the most established peer-to-peer cryptocurrency exchanges, accepting a wide range of deposit methods, including Payoneer, Zelle, Apple Pay, and many more. Their site is usually considered safe because of their comprehensive verification and onboarding of sellers and providers. We prefer Paxful above other P2P networks for Payoneer Bitcoin buyers.

Pros

• Purchase any cryptocurrency with Payoneer.
• Find sellers who are safe and secure.
• Clean and straightforward iOS/Android app

Cons

• P2P fees are 1%.

Payoneer's Oldest Peer-to-Peer Exchange: LocalBitcoins

Local Bitcoins is the most established peer-to-peer network for alternative payment methods such as Payoneer or Payoneer cards. Their site contains fewer known merchants, which might be hazardous - but you can often find lower pricing to buy cryptocurrencies like Bitcoin and Ethereum. Local Bitcoins have cheaper costs, and you should anticipate spending only 0.5 percent when purchasing cryptocurrency using Payoneer.

Pros

• Fees are lower than on Paxful.
• There is no need for a KYC to onboard.

Cons

• One of the cons of Purchasing Bitcoin or Ethereum is its complexity for newcomers.
• Sellers pose a greater risk.

Buying cryptocurrency is straightforward once you've chosen a platform that takes Payoneer as payment. Simply input your Payoneer card information and the amount of currency you wish to purchase, and you're done! Payoneer is a safe and easy method to get your hands on cryptocurrencies. So, whether you want to invest in Bitcoin, Ethereum, or any other digital currency, a Payoneer card is an excellent choice.

6. The Security Features of the Payoneer Card and Benefits of Buying cryptocurrency with it

The Payoneer card is an excellent choice for people wishing to purchase cryptocurrencies in terms of security. The card has bank-level security and fraud prevention features that can help keep your coins secure. Furthermore, the Payoneer card has various other advantages that can make purchasing cryptocurrencies a safe and quick experience.

Among these advantages are:

– Fast transfers: With the Payoneer card, you may collect your funds quickly and without delays.

– Low costs: Payoneer card fees are often lower than those paid by other payment methods, making it a more cost-effective choice for purchasing cryptocurrencies.

- Fraud protection: The Payoneer card provides fraud protection, which can help you prevent losing your money to fraud or theft.

The Payoneer card is a safe and quick way to obtain cryptocurrencies. The Payoneer card is an excellent choice to consider if you seek a safe and straightforward way to acquire bitcoin.

7. Comparison Between Various Types of Cryptocurrency Wallets Available

Cryptocurrency wallets are classified into software, hardware, and paper. Software wallets are further classified as desktop, mobile, and web-based. Hardware wallets are offline devices that securely store your private keys on a chip. Paper wallets are essentially copies of your public and private keys on paper.

Each sort of wallet has its own set of advantages and disadvantages. Software wallets, for example, are easier to use, but they are also more vulnerable to hacking. Hardware wallets are far more secure, but they can be cumbersome to set up and operate. Paper wallets are the most user-friendly, but they are also prone to theft or loss.

8. How to Deposit and Withdraw from Payoneer?

You will not be utilizing Payoneer to make deposits or withdrawals while purchasing Bitcoin because it does not operate that way. Moreover, you are unlikely to be able to purchase Bitcoin directly with your Payoneer prepaid card. You'll use the broker platforms we propose to transmit money to companies who accept Payoneer payments. As a result, there is no deposit method; if you prefer to utilize a cryptocurrency exchange, you must fill your account with a different payment method.

Payoneer also does not enable you to withdraw Bitcoins and does not allow you to keep your coins in a cryptocurrency wallet. So, once you've purchased your Bitcoin, you'll need to locate a place to store it.

Deposit

Different brokers may have different protocols for handling Payoneer transactions, but these are the main steps you should expect when signing up and depositing money.

1. Create an account with a broker who accepts Payoneer as a payment method, and then verify it using a form of picture ID.
2. Go to the broker's website and pick the Payoneer option on the "Add money" box.
3. You will then be invited to connect your Payoneer account to your brokerage account.
4. Enter the desired amount of cryptocurrency and choose Payoneer as the payment option.
5. Complete the transaction.

Withdraw

If you've previously used Payoneer to fund your brokerage account, just click withdraw on your broker's website to reclaim your dollars. Even if you haven't used it before, you may set up withdrawals by following the outlined procedures if your broker offers Payoneer as a payment method.

9. What Should you Consider in a Payoneer Cryptocurrency Broker?

Before choosing a Payoneer cryptocurrency Broker, there are a couple of things you should consider as given below:

• Compatible fees: Always check cryptocurrency broker fees before choosing it, as brokers don't charge fees while others impose fees for the facilities they offer. It varies from broker to broker, so it would be helpful to take a trip before committing.
• Security: You must ensure that the platform you are utilizing is secure. You want it to offer escrow services because you'll be interacting with other people and can never be too sure whom to trust.

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• A wide selection of Payoneer Bitcoin deals availability: Quantity is just as crucial as quality if you want to buy cryptocurrency using Payoneer funds more than once. As a result, you should opt for a platform with a significant number of these offerings.
• Convenient design: Even if the brokerage you'll be utilizing is only an intermediary, it should have a well-designed and user-friendly platform. It will make it easier to discover and complete deals, allowing you to acquire cryptocurrency with less hassle.
• Speed: Your broker should allow you to execute trades as rapidly as possible, preferably within minutes or seconds.
• The simplicity of usage: Look for a broker that simplifies the procedure so you don't have to waste time and mental energy on the transaction.
• A solid reputation: Ideally, you want a broker with a high number of favorable user reviews. Using the experiences of others to help you is a smart approach to limit down your trading platform options.
• A proven track record: The broker you pick should have at least a few years of experience handling cryptocurrency transactions so that you can be confident in its dependability.

10. Advantages and Disadvantages of Buying Cryptocurrency with Payoneer

Everything has advantages and disadvantages, and bitcoin investments are no exception. There are various reasons to buy Bitcoin with Payoneer, but there are countless reasons not to. Payoneer is an excellent way to purchase Bitcoin and other cryptocurrencies, even though it is only available on a few sites. What distinguishes it is that the entire process is transparent and straightforward on the sites that support this form of commerce. You need to thoroughly review each offer before proceeding with the deal.

However, we wouldn't call it the most fantastic option for this specific reason. Because this is not a typical means of purchasing Bitcoin, it is challenging to identify brokers with available deals. But don't worry, we'll outline both the advantages and negatives so you can make your own decision, beginning with the positives.

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Pros

• Payoneer's security and reputation: Payoneer is a well-known and trustworthy digital payment service offered in several countries throughout the world. It's also one of the most widely used payment systems in the corporate sector.
• Minimal costs: Most services that allow you to buy Bitcoin using Payoneer have low fees and eliminate commission fees.
• Fast transactions: Because Payoneer transactions are speedy, the platform will execute your trades quickly.

Cons

• Payoneer's business approach: It mainly focused on companies rather than consumers. They also do not accept Bitcoin or other cryptocurrencies as payment; however, this may change in the future if crypto continues to gain popularity.
• Inadequate platforms: Payoneer is not accepted as a payment mechanism by the most powerful cryptocurrency trading platforms. As a result, you'll need to do a little more research than using a debit card or bank transfer.
• Long sign-up process: When you sign up for a Payoneer account, you must authenticate your identity and, in certain situations, complete additional procedures. Other payment providers offer a faster sign-up process and are more commonly accepted.

11. Other Alternative Payment Ways to Buy Cryptocurrency

This part will assist you if you believe that utilizing Payoneer to purchase Bitcoin is too tricky. Here are a handful of alternatives for purchasing Bitcoin, all of which make trading as simple as possible:

Credit and Debit Cards

Credit cards, prepaid cards, and debit cards are the most acceptable ways to purchase cryptocurrencies. They are ubiquitous, and most coin exchangers and brokers accept them.

Pros

• Widely acknowledged
• Simple to use
• Begin purchasing your coins right immediately

Cons

• You might be asked to pay higher fees.
• You must disclose your credit card information online.

Transfers by Bank

Bank transfers or electronic payments are frequently used to purchase Bitcoin. It's one of the most acceptable and most trustworthy ways, although each transaction takes longer than usual.

Pros

• Widely accepted
• Safe transactions
• You are not needed to sign up for an additional payment method.

Cons

• Transactions take longer than other options.

E-Wallets

Organizations actively use PayPal, Neteller, Skrill, and other popular e-wallets to purchase cryptocurrency, particularly Bitcoin. For Bitcoin trades, most of these techniques are generally quite convenient and rapid.

Pros

• Simple sign-up
• Faster transactions
• Simple to use

Cons

• Some platforms do not allow PayPal or other payment methods.

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12. Final Words about Buying Cryptocurrency with Payoneer

You can use Payoneer to acquire Bitcoin on selected peer-to-peer sites, but it's an uncommon choice. The good news is that Payoneer is unquestionably safe and valuable. Still, if you want a more popular choice in the crypto realm, you should definitely go with one of the other options we propose.

After researching many options to purchase Bitcoin using Payoneer, we recommend utilizing your debit or credit card. Most exchanges and brokers offer this option, and you should not have to wait as long as you would if you use a bank transfer for trades.