Discover the exchanges where you can buy Bitcoin with Green Dot MoneyPak and learn how to do so instantly in 2023.
Through any of their in-house financial services, MoneyPak does not offer a direct way to purchase Bitcoin. Customers of MoneyPak will need to convert their currency to Bitcoin using a peer-to-peer exchange or a centralized service like eToro. keep reading for detailed steps on buying Bitcoin with Green Dot MoneyPak on eToro and Paxful.
What is MoneyPak
Since issuing its first prepaid debit card in 2000, Green Dot Corporation has developed into the market leader in the United States. Green Dot MoneyPak is available in more than 70k stores across the nation.
The biggest prepaid debit card provider in the US right now is Green Dot Corporation. Customers can quickly and easily load, send, and spend money using MoneyPak.
Prepaid debit cards like MoneyPak are frequently used for online shopping and can be loaded onto PayPal right away.
Exchanges Support Buying Bitcoin With MoneyPak
MoneyPak and Greendot Bank does not directly offer investors the ability to buy cryptocurrencies with their prepaid debit cards. This means that customers will need to find a regulated exchange in the USA that offers deposits from MoneyPak cards to buy and sell digital assets. Here are our top picks for MoneyPak & Greendot Bank customers, eToro, Binance P2P, and Paxful.
eToro is unparalleled in terms of social trading and multi-asset investing. Affluent people, family offices, hedge funds, and large financial institutions are some of its clients. The company, which was founded in 2007, now offers trading in equities, commodities, indices, ETFs, foreign exchange, and digital currencies.
The platform supports more than 60 different cryptos, and its 20 million registered users are spread across 140 different nations.
It supports deposit methods, such as SEPA, PayPal, Online Banking, Debit Card, Wire Transfer, MoneyPak, etc.
Before the year was out, Binance built its own P2P network to support Bitcoin exchanges for local currencies. Three years later, the website started to provide additional currencies, such as BTC, ETH, BNB, BUSD, DAI, and USDT, using local currencies across more than 150 payment methods in the world.
On Binance P2P, you can trade and buy cryptocurrencies using a number of different payment options. Local bank transfers, e-wallet services, SEPA, PayPal, Payoneer, MoneyPak, and local currency are a few of them. Their P2P market is much smaller than Paxful and Localbitcoins.
A group of programmers created Paxful, a centralized peer-to-peer exchange network, to help Bitcoin be used more widely. For those wishing to transact directly in cryptos, the service serves as a middleman. Only Bitcoin, Tether, and Ethereum are available for purchase in nearly 190 nations.
The site offers more than 350 different payment methods, including several fiat currencies and the previously mentioned 3 cryptocurrencies. Paxful accepts a variety of currencies and payment methods, including bank transfers, payment applications (like PayPal), gift cards, other cryptos, cash, MoneyPak, and more.
How to Buy Bitcoin with Moneypak on Paxful?
You can use some of the cryptocurrency exchanges mentioned above to purchase Bitcoin using MoneyPak. We are using the P2P exchange Paxful to walk you through the steps. Follow these steps:
- Sign in to Paxful, choose “MoneyPak” as your preferred payment option, and then browse available deals.
- When examining the list of deals that accept MoneyPak, be sure to consider not only their rates but also their trading history. Based on user reviews and reputation rankings, you can decide if the provider is trustworthy. Read the terms and conditions as well to make sure you are comfortable with them.
- To proceed with a transaction, click the “Buy now” option when you see a deal you like. The merchant will start a live chat with you in order to verify your identity and payment information and give you the details you need to send the money.
- As soon as the cash has been sent, click the “Paid” button to confirm the trade has been made and to avoid expiring the trade. Before being sent to your wallet, bitcoins are held by the seller while they confirm the transaction.
How to Buy Bitcoin with a MoneyPak on eToro
You can use a MoneyPak debit card to purchase Bitcoin by following the instructions below to deposit USD into eToro.
- Join the eToro US platform and confirm your identity there.
- To deposit USD using MoneyPak, choose “Deposit Funds” and then “Debit Card.”
- To deposit money, enter your debit card information.
- Find the asset you want to buy and place your order as soon as your USD arrives in your eToro account.
How Does Moneypak Work?
MoneyPak enables friends and family to quickly and easily transfer funds to thousands of eligible prepaid or bank debit cards made in the US.
Here is the explanation of how Moneypak to use:
- To begin, you must purchase a MoneyPak from one of the many retailers offering them, including 7-Eleven, CVS, Dollar General, Rite Aid, Walgreens, and many more.
- After you’ve made the purchase, scratch off the secure MoneyPak number on the back of the package to begin.
- The recipient must be given the MoneyPak pin in order to send MoneyPak.
- You must create an account before using MoneyPak for the first time. When interacting with financial services, identification and other personal information are required. A government-issued photo ID from the USA may be required as identification documentation.
- Make your deposit after adding your debit or prepaid card in the appropriate manner. Prepaid cards must include the cardholder’s name. Cards are immediately stored in the profile to make subsequent sends quick and easy.
Conclusion: Buy Bitcoin with GreenDot MoneyPak Now
You can use some of the cryptocurrency exchanges mentioned above to purchase Bitcoin with MoneyPak and follow the detailed steps above, you can purchase Bitcoin successfully.
Again, here are simple steps to buy bitcoin with GreenDot:
- Choose a peer-to-peer exchange: eToro, Binance P2P, Paxful, etc.
- Sign up for the Bitcoin exchange you choose and sign in.
- Buy Bitcoin with Green Dot MoneyPak on the exchange.
We hope that this article was very helpful to you. You can now go out, buy and begin your Bitcoin journey.
Where is MoneyPak Available?
Americans can purchase Green Dot MoneyPak at more than 70,000 stores across the country.
Can I Buy Bitcoin With Green Dot MoneyPak Directly?
Both MoneyPak and Greendot Bank don’t provide a way for their users to purchase Bitcoin directly through their platforms. By using cryptocurrency exchanges like Paxful, LocalBitcoins, eToro, etc., you can purchase cryptocurrency with Green Dot MoneyPak., that support MoneyPak is accepted as a form of payment.
Can You Load MoneyPak to PayPal?
The answer is no, you cannot fund a PayPal account with a MoneyPak.
Is MoneyPak a Gift Card?
MoneyPak is available in the prepaid or gift card section in thousands of locations across the USA.
What is MoneyPak Cryptocurrency Policy?
MoneyPak does not currently have any negative company policies that prevent customers from exchanging MoneyPak for Bitcoin. This means that using P2P exchange services to convert MoneyPak to Bitcoin, Ethereum, or another digital asset won’t result in a ban or a fine.
Can I Use Green Dot Card to Buy Bitcoin?
You can use any prepaid debit card, such as Serve2Serve GreenCard Dot or Bluebird Card, to buy bitcoins securely and instantly on LocalBitcoins, the world’s largest and most trusted peer-to-peer The Bitcoin marketplace makes it very simple to purchase bitcoins using a prepaid debit card, and every transaction is escrow-protected.