HomeCryptocurrencyAltcoinsHow to Buy Altcoins With Credit Card

How to Buy Altcoins With Credit Card

Last updated 16th Feb 2023

Do you want to learn how to buy altcoins with a credit card? This guide will examine the best methods, the best altcoin cards, along with the top cryptocurrency exchanges. Also, we’ll go over the buying process with a credit card and how to deposit coins to an exchange. Read on to find out more.

Top Altcoin Brokers That Accept Credit Cards

There are many cryptocurrency brokers available in the market, below we’ve listed the top platforms to help you get started.

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Can You Buy Altcoins With A Credit Card?

You can purchase altcoins directly with a credit card if your card issuer allows this type of transaction. Also, your banking service may provide an investment section, allowing you to buy coins via credit card through their system. However, some services decline cryptocurrency purchases to protect cardholders from losses, market volatility, and fraud.

Nevertheless, most cryptocurrency services allow credit cards as a deposit method, letting investors bypass the restrictions. We’ll discuss which crypto platforms are compatible with credit card purchases below.

Altcoins include all cryptocurrencies and tokens that are not Bitcoin.

What Crypto Platforms Accept Credit Cards?

Many cryptocurrency platforms incorporate credit cards as a deposit option or a form of payment. Let’s go over the most popular methods of buying altcoins with a credit card.

Cryptocurrency exchanges:

  • These platforms allow you to buy, sell, and trade altcoins. They have competitive fees and are often the best choice for investing in altcoins due to the various staking programs.

Cryptocurrency brokers:

  • Here, you can invest in altcoins through derivative products like ETFs, CFDs, and futures. This means you won’t directly own the assets and will rely on the broker to keep your funds safe.

Banks and ewallets:

  • Your bank or eWallet may have a dedicated section for investing in cryptocurrencies. They offer CFDs for Bitcoin, Ethereum, and altcoins. However, banks and eWallets have much higher fees compared to other platforms.

Peer-to-peer (P2P) marketplaces:

  • P2P platforms facilitate real-world trades between buyers and sellers. Here you can confirm a time and location where the transaction will take place.

    A peer-to-peer (P2P) service is a decentralized platform where two individuals can interact directly with each other without an intermediary.

How to Buy Altcoins With a Credit Card?

If you’re buying altcoins for the first time with a credit card, the process may seem unfamiliar. Below you’ll find an in-depth, step-by-step guide on investing through a crypto broker or exchange.

Cryptocurrency brokerages

Step 1: Find a broker
Step 2: Create an account and verify it
Step 3: Transfer funds into your brokerage account
Step 4: Write your card details
Step 5: Click the crypto investment section
Step 6: Click "Buy"

Cryptocurrency Exchanges

Step 1: Choose the exchange
Step 2: Create an account and verify it
Step 3: Navigate to their main page
Step 4: Deposit funds
Step 5: Write in your card details
Step 6: Exchange your fiat currency
Step 7: Select the coin you want to purchase

How to Deposit and Withdraw Via Credit Card


To deposit funds into a cryptocurrency broker or exchange, you’ll need to open their dedicated payments section. Then select ‘credit card’ as your preferred payment method and input your details. Afterward, write the amount you want to deposit and click make payment.


Withdrawing fiat currency from your broker or exchange account is a straightforward process because the platform will save your previously used details. Therefore, you can quickly click ‘credit card’ as the withdrawal method, and the platform will send funds to the card you used earlier.

However, if you’re using a different credit card, write your details in the required sections. After, click withdraw, and the money will reach your account within 1-2 days, depending on the platform’s transfer speeds.

What Should I Look for in a Credit Card Altcoin Broker

Fee charges:

  • Some cryptocurrency platforms allow you to purchase altcoins directly with your credit card but apply a transaction fee. Most often, you’ll find that depositing money first and then using the platform’s trading interface results in significantly fewer fees.

Altcoin variety:

  • Those interested in buying altcoins are likely to diversify their portfolio to minimize risk. Therefore, the crypto broker should have a great range of low and high-market cap coins.

Ease of use:

  • The crypto broker should be straightforward to use and provide new investors with informational resources on how to navigate the platform. Also, the site should have easy-to-find features, making your investment journey effortless.

Broker reputation:

  • Established brokers have been in the industry for years, creating a respectable reputation for providing great services. Therefore, you can trust them more compared to other platforms since they have a track record of keeping clients happy.


  • Perhaps the most important factor is the protection provided by the broker because you want to leave money on the platform knowing it’s safe. Take note of all the security technologies they implement to keep clients’ funds safe. At the very least, they should allow 2-step authentication and incorporate SSL encryption.

Should I Buy Altcoins Using A Credit Card


Invest Without Having Money: If you want to buy an altcoin before you believe its value increases, using a credit card allows you to make the purchase straight away. This ensures you won’t miss the next pump and can make significant profits by borrowing funds.
Potentially Earn Rewards: If your credit card issuer treats crypto transfers as regular purchases, you may be able to receive lower interest rates. Also, you can earn rewards on your investment spending like cashback.
Widely Accepted: Credit cards are widely accepted on cryptocurrency exchanges and brokers. This makes the payment method hassle-free because you can instantly transfer funds without guessing if the platform will accept the money.
Fast Deposits: Credit cards let investors instantly transfer funds to the platform without a waiting time. This allows you to buy the altcoins you need before they rise in value.
Instant Purchases: Some cryptocurrency platforms allow you to instantly buy altcoins without trading interfaces. This makes crypto investing more accessible to beginners since they won’t need to learn the complexities of trading.


High-Interest Rates: Cryptocurrency purchases are often treated as cash advances. This would lead to higher fees and no grace period for interest charges. Moreover, cardholders will not receive rewards on the amount advanced, making them a costly method of investing.
Fees: Using a credit card to purchase altcoins directly results in much higher fees. Although this method of acquiring coins is more straightforward, you’d be better off depositing money to the exchange. Afterward, you can use the trading interface to purchase coins at much better rates.
Debt: Cryptocurrency is a highly volatile asset, making them risky to purchase, especially with borrowed funds. If the coin you buy decreases in price significantly, you are left at a considerable loss with debt. Therefore, you should always ensure that you can pay back the card issuer even if your portfolio takes a hit.
Credit Score Can Take a Hit: A major factor affecting your credit score is the amount of debt you owe, also referred to as Credit Utilization. Having a high Credit Utilization is a red flag that you are overly reliant on the borrowed funds. This causes your credit score to plummet, putting your future at risk. For example, you won’t be able to get a mortgage or a car loan easily.

Is Using a Credit Card the Best Method to Buy Altcoins?

Using a credit card to purchase altcoins is too risky since you are going into debt to buy volatile assets.

It’s far better to use a debit card because there is less risk associated with using saved-up money.

What to Consider when Buying Altcoins with Credit Card?

When you make a purchase in a foreign currency, most credit cards charge a foreign transaction fee. For example, if you use US dollars to buy altcoins on an exchange, your credit card company may charge a foreign transaction fee. However, purchasing altcoins with a credit card is still relatively cheap compared to other payment methods.

If you buy altcoins with a credit card, you may also incur a service fee. This cost can vary depending on the type of card you use.

What Are The Alternative Payment Methods to Buy Altcoins With?

Debit Cards:

  • Debit cards are widely accepted and convenient to use. Simply write your details and hit deposit.


  • The eWallet on Paypal lets you purchase various altcoins through their platform, removing the need to use a crypto broker or exchange.

Bank Transfer:

  • A secure and fast way to send funds is via bank transfer. Before clicking transfer, ensure that the reference code is correct so the money enters your broker account.

Final Thoughts

Using a credit card to purchase cryptocurrency won’t make sense for most investors since there is too much risk associated. Cardholders should consider the major disadvantages like entering debt, impacting their credit score, high fees, and significant interest rates. We’ve gone over the pros & cons and how to select the best crypto platform for yourself. Now It’s up to you to decide if the payment method is ideal for your investment needs.


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Do I Need a Crypto Wallet?
Are There Low Fees When Using Credit Cards to Buy Altcoins?
Can I Hold Cryptocurrency in My Credit Card Account?
Can I Buy Other Cryptos Using Credit Cards?
Can I Buy Altcoins With A Credit Card Instantly?
Are Credit Cards the Easiest Way to Buy Altcoins?
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Keith Hodges

Keith Hodges

Keith is a finance SEO specialist, having worked previously as a journalist in the industry. He is currently the Head of SEO at BanklessTimes and is based in London. Keith has written and worked extensively in the personal finance and investment industries, with particular focus on international and digital currencies.