How To Buy Bitcoin With Neteller
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Electronic wallets have been the go-to payment method for millions of individuals across the globe. Cryptocurrency exchanges are also increasing their support for electronic wallets to buy Bitcoin and Neteller is one method.
Neteller is a global online payments provider that lets users shop securely, send and receive money, and access their funds instantly. While users can buy and sell crypto directly through their Neteller, it's best that users link their Neteller wallet to a preferred crypto exchange. This article will explain how to buy Bitcoin with Neteller and the exchanges that currently support this payment method.
Can You Buy Bitcoin With Neteller?
There are several cryptocurrency exchanges and Peer-to-Peer (P2P) marketplaces that can use Neteller as a way to deposit 28+ fiat currencies and buy Bitcoin. eToro is an example of a cryptocurrency platform that integrates Neteller as a payment method. Deposits are credited into the account within minutes and there are no fees incurred.
How To Buy Bitcoin With Neteller – Quick Guide
To buy Bitcoin with Neteller, follow these simple steps:
- Create a Neteller account. For those that don't use the Neteller digital wallet, create and register a new account through the official Neteller website.
- Open an account on an exchange. Browse and create an account with a crypto exchange, trading platform, or P2P marketplace that accepts Neteller as a form of payment.
- Link a Neteller account. Select Neteller as a preferred payment method. This will redirect to the Neteller website to log in and securely link the payment method.
- Deposit funds using Neteller. Fund the exchange wallet by entering the amount of fiat currency to deposit.
- Buy Bitcoin. Browse the platform list of digital coins to find Bitcoin. Enter the dollar amount to spend, review the transaction details and buy Bitcoin.
Where To Buy Bitcoin With Neteller
Numerous crypto trading platforms support using Neteller. Below is a list of our top-rated crypto exchanges and brokers that currently allow users to buy Bitcoin using Neteller.
1. eToro - Best for Zero Neteller Deposit Fees
eToro is a multi-asset trading platform that lets users invest in a wide range of products including stocks, cryptocurrencies, ETFs, and commodities. eToro provides rookie and seasoned investors a comprehensive crypto trading experience through a powerful and user-friendly platform. With more than 25 million users worldwide, eToro’s social trading feature lets investors find and connect with top-performing crypto traders.
Buying Bitcoin with zero deposit fees via a wide range of payment options including debit/credit cards, PayPal, Skrill, and Neteller is one of the best features.
Like depositing with other wallets, users need to choose Neteller as a preferred payment method. On the eToro dashboard, click on ‘Deposit Funds’ on the bottom left. A deposit funds screen will appear, fill in the amount of money to deposit and click Neteller from the drop-down. The minimum deposit with Neteller is $50.
Continue to enter the registered email of your Neteller e-wallet. This will redirect to a new page to fill out login credentials and confirm by clicking ‘Pay now.’ Enter the security code sent to the Neteller registered email address and provide the Secure ID code that was created when verifying the Neteller account. Select ‘Pay’ to complete the deposit.
The eToro trading account should be credited within a few minutes. eToro will send a notification via mail if the deposit request is denied. Since all eToro accounts are in USD, money deposited in a different fiat currency will be converted at the market rate and at a fee.
2. Binance – Best for Low Transaction Fees
Binance, founded in July 2017 is the world’s best cryptocurrency exchange for its reputable, security and high trading volume.s Through its mobile app, users can trade and invest in 500+ crypto assets. To fund their Binance accounts, users can deposit in a preferred fiat currency. With funds in their account, users can use the platform's peer-to-peer (P2P) trading feature to buy Bitcoin and other cryptocurrencies.
Binance has one of the best crypto P2P marketplaces that let users directly buy and sell crypto assets with other users and verified merchants. To facilitate P2P trading, Binance supports 49 fiat currencies and over 150 payment methods including Neteller. To buy Bitcoin with Neteller, users need to select offers that support a Neteller as a payment method.
To add Neteller as a payment method, go to the P2P trading page on the mobile app and click ‘Payment Settings’ on the top right of the page. Click on ‘Add payment methods’ and provide the payment account information. Click ‘Confirm’ to compete by adding the payment method.
The Binance P2P exchange stands out for its low-cost transaction and overhead costs. With P2P trading, takers incur a zero trading fee while makers are only charged a small portion of the transaction fees when the order is completed. Users also have the freedom to trade Bitcoin and other cryptos at their preferred prices. Buy Bitcoin from existing offers or create a trade advertisement to set the desired price.
3. Paybis – Best for High Limits
Paybis is a crypto exchange that was founded in 2014 and has a global coverage spanning over 180 countries. Besides being regulated by the FinCEN Department of the U.S. Treasury, Paybis is also U.K. and EU compliant. Paybis verified users enjoy some of the best limits for depositing and withdrawing funds. There is also the ability to spend up to $50,000 per week to buy Bitcoin.
Offering 30+ crypto assets and supporting 47 fiat currencies, Paybis offers a host of payment options to buy Bitcoin. These include debit/credit cards, Skrill, bank transfer, and Neteller. There are fees associated with using Neteller. These include a payment processing fee, Paybis exchange fee and the transaction fee to Bitcoin miners when withdrawing to an external wallet.
Paybis recommends that users first set up their BTC wallet. There are four wallet options which are desktop wallets, hardware wallets, paper wallets and online wallets. The platform recommends setting up a desktop wallet because it only has a single access point. After setting up their wallet, users can continue to buy Bitcoin using Neteller in these four steps.
- Initiate a new transaction. Enter the dollar value to spend under ‘You spend’. The equivalent BTC amount under ‘You receive’ will be shown. Create a new transaction by clicking ‘Buy Bitcoin’.
- Provide personal information for verification (KYC). Those using Neteller for the first time will need to provide their full name, date of birth, and address. Upload a government ID and hit ‘Submit’ to let the system review the information. The review takes less than five minutes. If it isn’t successful, Paybis will send an email pointing out what fields need adjustment.
- Make payment. Once Paybis verifies an account, enter in a BTC wallet address. Click ‘Continue’ which will redirect to the Neteller payment page. Log into a Neteller account and confirm the payment.
- Buy Bitcoin. Once the Neteller payment is finalized, the order will be complete in less than five minutes.
5. Bitpanda – Best For Users in Europe
Bitpanda is an Austrian-based exchange currently serving over 3.5 million users across Europe. With a PSD2 payment service provider license, streamlined user experience, and state-of-the-art security, Bitpanda makes it possible for beginners and advanced traders to invest in crypto, indices, stocks, commodities, and ETFs.
Users can create a Bitpanda account from their desktop or through the mobile app on their Android and iOS devices. Bitpanda doesn’t charge a fee to open and maintain an account. As per the AML5 EU regulation, Bitpanda users must verify their accounts. Besides being a compliance requirement, a verified Bitpanda account has the full limits and payment methods available, including credit cards, bank transfer (SEPA), Skrill, and Neteller. The 24-hour deposit limit is EUR 10,000 when using Neteller and it can’t be increased. Neteller deposits are also instant.
Bitpanda users can only exchange cryptos in specific currencies. The platform currently only offers trading in EUR, USD, CHF, GBP, TRY, and PLN. When using Neteller, traders may use other currencies on Bitpanda. These currencies are converted to one of the platform’s accepted currencies and an appropriate conversion fee is charged. The minimum deposit amount is EUR 25 for fiat currencies.
6. Paxful – Best User Friendly Platform
Like Binance P2P, Paxful is a peer-to-peer marketplace that directly connects traders to users who want to buy and sell Bitcoin. Paxful supports a wide range of payment options to fund an account and purchase Bitcoin. These include bank transfers, debit/credit cards, cash payments, Apple Pay, prepaid cards, and online wallets like Neteller. To purchase BTC with Neteller on Paxful, users must register an account and complete the verification process. Users will instantly receive a free BTC wallet.
Log in and click ‘Buy Bitcoin’ and choose ‘Neteller’ as the payment option. Enter the amount of BTC to buy and indicate the preferred currency. Click ‘Find Offers’ and browse through the list of offers from other sellers. Users may also create their own offers if they are not satisfied with what’s available. Some sellers may require proof of ID and account balance. Others may require that the Paxful account details match the Neteller account details.
Accept the seller's terms and click on the offer. Enter the amount of Bitcoin to purchase. Click ‘Buy Now’ to initiate a live chat with the seller. Paxful holds the BTC funds in a secure escrow until the transaction is completed. Mark the trade as ‘Paid’ and notify the seller once completing payment with Neteller. When the seller confirms receipt of payment, the BTC is sent directly to the buyer's Paxful wallet.
Crypto Exchanges That Support Neteller - Compared
The table below lists and compares the best exchanges, P2P platforms and brokers for buying Bitcoin with Neteller. Click on the individual reviews for more information on each.
|Exchange||Crypto Assets||Trading Fees||Rating||Promotion||Website||Review|
|350||0.1% (spot) and 0.02% / 0.04% (Futures)|
|Up to $100 welcome bonus||Visit Binance||Binance Review|
|None available at this time||Visit eToro|
eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. Archived, "Virtual currencies are highly volatile. Your capital is at risk."
|None available at this time||Visit Bitpanda||Bitpanda Review|
|12||0.1% & 1%|
|None available at this time||Visit Paybis||Paybis Review|
|3||Varies on seller|
|None available at this time||Visit Paxful||Paxful Review|
Advantages of Buying Bitcoin With Neteller
Buying Bitcoin with Neteller presents some benefits to users. These advantages include:
- Fast and easy: Neteller has become a widely accepted method for buying Bitcoin and other cryptocurrencies because it’s fast, easy, and user-friendly. Users can easily add this e-wallet to their trading account by providing their login credentials on a secure page. Also, deposits from Neteller to a crypto exchange are processed and executed as soon as a user confirms the transaction. Neteller also facilitates fast withdrawals from a trading account into its online wallet.
- Secure: When using Neteller to buy Bitcoin, users are provided with maximum security for their funds, personal details, and transaction history. All transactions processed through the Neteller payment gateway are 100% indemnified, which provides guaranteed protection against fraud.
- Fiat-to-crypto withdrawal: Neteller is one of the few digital payment providers that let users withdraw funds directly into a crypto address of their choice. With this service, users can instantly convert 40+ fiat currencies, including the US dollar, Euro, and the British pound into 38 different coins. This withdrawal feature is currently live in 10 countries, including Australia, Canada, Chile, and the UK, though plans are underway to roll it out in more countries.
- Relatively low fees: Buying Bitcoin with Neteller is incredibly low-cost. Crypto platforms like eToro don’t charge fees for depositing funds using Neteller.
- Recurring deposits: Adding Neteller to a crypto exchange lets users set recurring payments from their wallets. This automatically tops up an account weekly, bi-monthly, or monthly.
Downsides of Buying Bitcoin With Neteller
Consider these drawbacks before using Neteller to buy Bitcoin:
- Not yet universally accepted: Although Neteller is a popular payment option for its speedy and low-cost transactions, it is still not available on most crypto exchanges. Also, this payment method is domiciled in Europe, so users in regions like the United States may not have it readily available.
- Conversion fees: Users depositing funds in a local fiat currency will incur conversion costs to have the deposit in an exchange-supported currency.
Can You Buy Bitcoin Directly In A Neteller Account?
Neteller allows its users to convert their wallet fiat balance into a wide range of cryptos such as Bitcoin, Ethereum, Bitcoin Cash, Cardano, Dogecoin, Chainlink and others. There are 28 fiat currencies that can be converted into Bitcoin and vice versa instantly without requiring any additional verification. There are no minimum amounts which is ideal for buying fractional amounts of Bitcoin. However, the maximum purchase amount depends on the transaction limits associated with a Neteller account. Users with a crypto balance can also send crypto to other Neteller members using their mobile number or email address.
How To Buy Bitcoin With Neteller – eToro Tutorial
Step 1: Sign up to Neteller
Join Neteller for free by visiting its official website. Fill in your first and last name, country, and preferred currency. Individuals will need to provide an email and create a password.
Step 2: Create An Account On eToro
Go to the eToro website to create an account. Provide an email address and create a username and password. These details act as the login credentials to access the account.
To comply with financial service regulations and provide the best possible service, eToro requires that all new users verify their trading accounts. Users must start by verifying the phone number linked to their trading account. Users then need to upload both proof of identity (POI) and proof of address (POA).
The POI document should have a user’s name, date of birth, a clear photograph, and the date of issue. Such documents include a passport, driving license, or other government-issued ID. A POA document should show the full name, address and issue date. The eToro verification process can take a few days and eToro will notify you when an account is verified. Users must verify their accounts to avoid limitations, including trading restrictions and fund withdrawals.
Step 3: Link Neteller as a payment method
Once verified, the user will be able to choose Neteller as a payment method. Select 'Neteller' from the list of supported payment options. This will redirect to the Neteller web application to complete the payment. Once finalized, the funds will be deposited into the eToro account.
Step 4: Make a Deposit
Click ‘Deposit’ on your eToro account to view the available funding options. From the drop-down menu, choose Neteller and enter the minimum deposit amount required and the fiat currency to use. eToro will then provide on-screen instructions to link the Neteller account and make the deposit. eToro primarily operates in USD, so any deposits in other supported fiat currencies will draw a conversion fee.
Step 5: Buy Bitcoin
Click ‘Discover’ to find Bitcoin among the available crypto assets or type ‘BTC’ into the search bar. The panel ‘Buy BTC’ will appear and allow users to enter the dollar amount to spend, or the number of satoshis to buy. Users also have the option to ‘Trade’, which buys Bitcoin instantly, or ‘Order’, which specifies buying Bitcoin at a specific market price.
Frequently Asked Questions
Yes, Neteller deposits to a crypto exchange are instant. Simply enter the amount you want to deposit and the balance reflects immediately after you confirm the transaction.
Neteller is one of the few payment processors that let users buy and hold cryptocurrencies in their online wallets.
Neteller is one of the payment options users looking to buy Bitcoin through a crypto exchange can deposit funds into their trading accounts. It is preferred for its simplicity, speed of depositing funds into an exchange, and its cost-effectiveness. On the flip side, Neteller is supported by a few exchanges and is not readily available across all regions. Users keen to buy Bitcoin with an online wallet may also want to learn how to buy Bitcoin with Paypal.