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Buy Bitcoin & Over 100 Crypto Assets with Fiat Currency

Cryptography isn't just about sending and receiving secure messages — this language of ciphers and code breakers helped fuel the revolutionary idea of digital money. The most famous cryptocurrency, bitcoin, was built on a complex technological foundation rooted in the discipline, and strengthened by decentralization. By distributing functionality network wide, participants enjoy greater security, while insulating their transactions from single points of failure. In this article, we’ll shed some light on blockchain technology, the practical value of crypto, and how to purchase digital assets with fiat currencies.

Basic Crypto Fundamentals: What is Cryptocurrency

Let’s consider a practical example: an Australian wants to send money to a friend in Cameroon. 

Our hero, let’s call him Dave, goes to the bank and requests a wire transfer of $3,000 to Cameroon. The bank representative informs Dave that to complete this transaction, his money will route through several beneficiary banks, incur high fees, and take up to a week to execute. With few other pathways available to transfer funds to his friend, Dave agrees to the terms of the transaction.

After a week, the bank representative calls Dave with news that, due to a mix-up at one of the beneficiary banks, his money has been frozen for additional checks. Apparently, there was a discrepancy in the spelling of the recipient’s last name. Sarah, the friend in Cameroon, desperately in need of the money to visit family in a neighboring country, resorts to taking out a loan. To accommodate the changing circumstances, Sarah will now put Dave’s funds toward settling the difference in the loan once they arrive via wire.

When Dave’s money is finally released, Sarah is charged a conversion fee and receives cash in CFA francs. Later, when Sarah needed to gain convert her CFA francs, this time into U.S. dollars, the exchange rate devalued because of inflation. After totaling the conversion, loan fees, and commissions accrued throughout the transaction, in the end, Sarah receives $2,600 of Dave’s initial $3,000. 

This is an all too common experience for those attempting cross-border transactions. Thankfully, crypto can help curious participants avoid costly middlemen and long wait times by transacting directly via blockchain. That way, funds can be sent in a matter of hours, while retaining more value due to moderate network fees.

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The Bitcoin revolution

Blockchain technology allows networks to perform online security checks with the help of math and computer science. BTC’s single global ledger doesn’t require physical establishment or servers to run and is rather distributed throughout all participants connected to the network. Using blockchain, Dave could simply create a crypto wallet, buy Bitcoin with USD, and transfer BTC to Sarah’s wallet. The transaction of $3,000 would arrive in a few minutes, depending on current network traffic. But even at its most congested, this method can help circumvent many of the costly obstructions and red tape imposed by third-party intermediaries. Once sent, Sarah could exchange BTC for USD, or her local currency by using a reliable crypto platform, like CEX.IO.

But what about the volatility, you may ask? And that is a fair question, as crypto prices are known to jump or drop at a moment’s notice. That’s why crypto enthusiasts prefer using BTC and altcoins for trading, and stablecoins for money transferring. Dave could buy USDT, a stablecoin pegged at a 1:1 ratio with USD, and make his transfer in this currency. That way, the transfer has a much higher chance of retaining its value by the time Sarah receives this money. 

Bitcoin opened new financial possibilities for people around the globe. Not only does it allow quick and cheap money transfers, but it can also create new opportunities for un- and under-banked people with access to an internet connection. 

How to buy crypto & bitcoin with fiat funds

Bitcoin and other digital assets are now available for purchase on numerous crypto exchange platforms. At CEX.IO, for example, customers can use their debit and credit cards to buy & sell crypto assets instantly. Our Instant Buy service allows eligible participants access to purchase digital assets, such as the ability to buy crypto with Google Pay or Apple Pay at their convenience. Check out the services available in your country on this page. 

Why do people choose to buy Bitcoin with fiat funds?

Is it all about speed and convenience? Well, there’s no direct answer to this question. Cryptocurrency is a complicated technology that offers numerous advantages but can be intimidating for less tech-savvy participants. Below are just some of the reasons people choose to buy bitcoin and cryptocurrencies with fiat funds.

Financial security

Decentralized ledger technology aims to ensure transparency and immutability of transaction records by storing them securely on the blockchain. This can give participants peace of mind that their finances are insulated from the occasional turbulence of traditional financial institutions. 


While the anonymity of crypto transactions can increase privacy, unregulated exchanges can also be hotbeds of illegal activities, like money laundering and tax evasion. That’s why many traders prefer centralized crypto exchanges that perform thorough transaction monitoring to prevent misuse of crypto by bad actors. 

Potentially better liquidity 

While traditional fiat markets are usually only open during business hours, the crypto ecosystem operates 24/7. In addition, many crypto assets are divisible into tiny units, like BTC satoshis, allowing for smaller transactions. 

Low transaction fees

When it comes to low transaction fees in the crypto world, there are several contenders. The Stellar Lumens (XLM) network can transfer microsum that cost fractions of a cent to move from participant to participant. Cardano (ADA) is a popular choice for smart contracts and dApps as it offers low transaction fees and a well-established network. XRP is capable of fast and efficient interbank settlements while boasting low transaction fees for traditional financial institutions. 

How to buy bitcoin and other crypto assets with CEX.IO

CEX.IO is a complex product ecosystem that allows customers to interact with cryptocurrencies in a variety of ways. While the range of available services can vary depending on the country, our Instant Buy product is accessible for all jurisdictions with the exception of those currently unsupported

Registered customers can buy cryptocurrencies by completing the following actions:

  1. Open the Instant Buy page in the Product menu. 
  2. BTC is selected by default, but others may be selected from the drop-down list. For example, to buy Ethereum (ETH) or XRP, just scroll and choose either asset. 
  3. The default payment currency is set to USD, EUR and GBP are both available. 
  4. Enter a desired amount for purchase, or click on a precalculated pack. 
  5. Provide card details, or select a preferred payment method, and confirm the transaction. 

The purchased cryptocurrency will be added to your crypto and bitcoin wallet right away. 

Keep exploring

Cryptocurrency has a huge potential to revolutionize the financial world, by emphasizing and improving speed, security, and affordability. Blockchain technology has the potential to provide people with more direct control over their finances while challenging centralized systems to shift the balance of power back to users. While the full extent of this revolution remains to be seen, one thing is clear: cryptocurrency has opened the door to a future where people are at the center of the financial and digital landscape.


Can I buy crypto & bitcoin using my local currency?

If your card is issued in your local currency, the amount can be automatically converted by your card issuing bank. The bank may charge additional fees for the conversion, so it’s recommended to clarify this information before transacting in the digital economy. 

What payment methods are available for U.S. customers?

Customers from the U.S. can use their credit cards and also buy crypto with PayPal. Crypto exchange transactions are possible with the Convert feature in the CEX.IO Wallet and CEX.IO App. U.S. customers can also choose to buy USDC, or other stablecoins to perform daily crypto transactions. 

How can I use my crypto at CEX.IO?

While the initial goal of cryptocurrencies was online funds transferring and payments, the current industry landscape offers way more opportunities. Here are some of the products CEX.IO makes available for eligible participants:

  • Exchange Plus platform for trading over 300 markets with deep liquidity.
  • CEX.IO App with all ecosystem services packed in a handy mobile interface.
  • CEX.IO Earn offers no-lock crypto staking and instant savings accounts in select jurisdictions.
  • CEX.IO Wallet provides all-in-one custodial crypto storage complete with built in buy, sell, and conversion features.