How To Buy Bitcoin With Chime

Chime (also known as Chime bank) is an American financial technology company that provides storing accounts and credit cards. The company received the "neobank" status due to its mobile-friendly interface. Chime supports transactions with cryptocurrencies and it serves as a link between bank account and crypto exchange.

This positioning is also connected with the bank's crypto-friendly policy: Chime is often used to buy Bitcoin and other digital coins. And in this article, we will tell you how to purchase Bitcoin with Chime in the most effective way.

Why Is Chime Good For Buying Crypto?

Buying cryptocurrency with Chime has some vital advantages — let's take a closer look at them:

• Security: Chime uses advanced encryption technology to protect funds. It significantly enhances safety combining with the cryptocurrency exchange's security measures.

• Fast transactions: each transaction with Chime, including buying, selling and transferring funds, takes no more than 5 minutes.

• No fees: the Chime service doesn’t charge overdraft or service fees. The lack of any commissions allows you to save a significant amount of money when you buy crypto.

• Instant notification system: the app has quick transaction notifications — it allows users to be always aware of their account activity. It can be useful for traders who need to react to market changes quickly.

A Guide On How To Buy Crypto With Chime

You can buy Bitcoin and other cryptocurrency with Chime only using a third-party such as crypto exchange. For doing it, you have to link your Chime bank account to the exchange‘s one, and make a few more simple steps.

Let's take a look at the step-by-step algorithm for buying Bitcoin using Chime.

Step 1: Create A Chime Account

If you don't have a Chime bank account, you need to create one. You may use the service's mobile app to do it. The application will ask for your full name, a valid email address and a phone number. After passing all the registration steps, top up your Chime account for further purchases.

Step 2: Choose A Crypto Exchange

When selecting a crypto exchange, consider its user-friendliness, favorable transaction speed and security measures. Cryptomus P2P Platform, for example, has an intuitive interface and very structured pages, which is a big advantage in ease of navigation. The platform also has high security measures: it carefully selects sellers, uses encryption technologies, and 2FA.

Cryptomus accepts Chime as a payment method, so you can buy Bitcoin directly on this exchange. First, register on the P2P platform: enter your email and create a strong password. You can use the most convenient method to sign up such as Telegram, Gmail, or Facebook.

Step 3: Set the Filters

On the main page of the P2P platform, set the data that suits your needs. Select Bitcoin as the desired cryptocurrency for the purchase, then select the fiat currency you want to pay with. In the “Payment Methods” line, select Chime. This way you will filter the list of offers and will be able to choose the most suitable one.

Step 4: Select The Seller

Now you can start searching for the most suitable Bitcoin offer. Enter the amount of BTC you want to buy and then select the offer from the list that suits you best. Pay attention to the seller's rating and whether he accepts Chime as a payment method.

Step 5: Make The Deal

When the question with the seller is decided, contact him to discuss the deal and request his Chime or bank card details to transfer funds. Then send the money to his account and wait for the BTC to be received to your cryptocurrency wallet.

Tips For Successfully Buying Bitcoin With Chime

Despite the growing popularity, cryptocurrencies are still a risky investment. It applies to both the value in the market and the security of transactions. Therefore, there are a few important rules you should keep in mind before dealing with crypto:

• Monitor the Bitcoin exchange rate: investing in Bitcoin is risky because of its volatility, so you need to regularly check changes in its market price in order to choose the most appropriate investment period.

• Invest as much as you are ready to lose: due to the Bitcoin exchange rate’s volatility and the cryptocurrency market instability in general, you should be prepared for the sharp fall in asset value. Therefore, you shouldn’t invest all your digital money at once, but only a part of it.

• Choose a profitable exchange: give preference to platforms that charge low transaction fees. Although Chime itself doesn’t impose additional commissions, for better savings, take action with the exchange as well.

• Take care of security: first of all it includes choosing a reputable exchange with positive reviews. The second moment is about self-protection of your digital wallet: use a strong password, enable two-factor authentication and utilize only a personal computer during cryptocurrency management. For example, Сryptomus is a great crypto wallet provider and offers a great option for storing Bitcoin and other cryptocurrencies. Except 2FA, it follows an AML policy that protects your funds from fraud.

How To Send Bitcoin With Chime?

Chime does not support direct Bitcoin transfers. To transfer Bitcoin from Chime, you first need to purchase cryptocurrency on a crypto exchange. Let's take a closer look:

• Buying Bitcoin on a crypto exchange: follow the guide above for buying cryptocurrency on a third-party P2P platform.

• Transferring funds from a Chime account to a Bitcoin wallet: for doing it, you need to use the Chime app or log in to your personal account on the bank's website. Then, go to the "Transfer" section and click on the "Send money" button. After that, select the option of linking an external account from the crypto exchange, specify your cryptocurrency wallet address and confirm the transaction.

• Transferring funds from Bitcoin wallet to Chime account: you can not store Bitcoin in a Chime account — you can only use it as a payment method. To send your BTC to Chime, you will need to convert the cryptocurrency to fiat currency. It is possible to do so using the centralized crypto exchanges or by selling your crypto on a P2P platform. You need to link your account to an exchange account, and swap the crypto for fiat through the platform. Then, you can cash out these funds to your Chime account.

Chime gives users a convenient and safe way to make their first steps in the cryptocurrency market. Working with reliable exchanges is a key factor for a successful cryptocurrency purchase which makes this process favorable and easy.

We hope this article has helped you understand how to buy Bitcoin using Chime, and how it can be done with the most benefits. Ask your questions if you have any!