American Express cards are popular with business people and those who want access to exclusive membership rewards. If you're wondering how you can buy Bitcoin with your Amex card, then that’s exactly what we’re going to explore in this guide.
We'll take a look at some of the top Bitcoin brokers that accept American Express. Then, we’ll guide you through the entire process of investing in Bitcoin using this payment method, pointing out important pieces of information to help you get the best possible experience when buying Bitcoin with Amex. We’ll also answer popular questions regarding the purchase of Bitcoin using the Amex card.
Can I Purchase Bitcoin With a Credit Card?
Many cryptocurrency exchanges and platforms allow users to purchase Bitcoin with a credit card. You can typically link your credit card to your account on these platforms and use it to buy Bitcoin at the current market rate.
Can I Buy Bitcoin with American Express?
AMEX, one of the world's largest and most esteemed credit card companies, boasts a global cardholder base exceeding 100 million. Despite its prominence, AMEX does not provide direct cryptocurrency trading services on its website or app. Consequently, purchasing Bitcoin directly through AMEX is not an option; users must rely on third-party platforms that accept AMEX as a payment method.
Does Crypto.com Accept American Express?
Yes, Crypto.com welcomes payments through a variety of methods. Accepted credit cards include Visa, Mastercard, American Express, JCB, Discover, and Diners Club credit cards or debit cards. Additionally, users can make payments using cryptocurrencies through Crypto.com Pay.
Top Bitcoin Brokers That Accept American Express
First things first, let’s examine some of the best brokers that let you buy Bitcoin with an American Express card.
| Name | Score | Visit | Disclaimer | |
|---|---|---|---|---|
 | 8.7 | Visitetoro.com | Don’t invest unless you’re prepared to lose all the money you invest. | |
 | 9.8 | Visitplus500.com | 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. | |
 | 9.0 | Visitpepperstone.com | Between 74-89 % of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | |
 | 8.8 | Visiteightcap.com | ||
 | 8.3 | Visitwebull.com | ||
 | 8.4 | Visitcoinbase.com | ||
 | 7.4 | VisitChangelly.com | ||
 | 8.4 | Visittrading212.com | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 83% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. |
What Is an American Express Bitcoin Broker?
American Express is a popular brand that offers credit, debit, prepaid, and gift cards. It’s one of the most popular card brands, next to Visa, Master Card, and Discover, and if you’re in the US, the chances are you already have an Amex card. The brand is also available in many other countries, so millions of people worldwide use Amex daily.
American Express Bitcoin brokers are crypto platforms that enable you to use your Amex card to fund your BTC purchase.
What Crypto Platforms Accept American Express?
Unfortunately, as American Express charges higher merchant fees than other credit card providers, most crypto platforms choose not to accept it. You will have a hard time finding a centralized exchange or broker that accepts Amex.
However, there are a handful of peer-to-peer (P2P) platforms that accept Amex, and these include Paxful and LocalBitcoins. P2P platforms connect buyers directly with sellers and may not require you to complete ID verification. This anonymity may attract some users with malicious intentions so caution is advised when using these platforms.
How to Buy Bitcoin With American Express in 2023?
The steps below show how to buy Bitcoin with your Amex card on a P2P platform.
Step 1: Pick a Platform
Step 2: Open an Account
Step 3: Find a Seller
Step 4: Buy Bitcoin
What Should I Look for in an Amex Bitcoin Broker?
It’s no secret that some brokers are better than others, and you want to have the best possible experience when buying Bitcoin with American Express.
Once you check all the essential traits of a Bitcoin broker and ensure that they are of high quality, you’ll be able to buy BTC effortlessly.
Here’s what to take into account when buying Bitcoin with Amex:
Cost: Certain brokers are more expensive than others as the fees they charges may differ. P2P platforms don't tend to charge fees for buying crypto, but as sellers decide the price you may want to hunt around for sellers offering lower prices.
Limits: All brokers have transaction limits when depositing, withdrawing, buying, or selling. Please take all of them into account when choosing the best trading site for you.
Security: You should verify that your broker of choice has all the security protocols. This is essential for keeping your funds and your sensitive data safe and secure. You shouldn't trust a P2P platform unless it provides escrow.
Speed: Sometimes, transactions can take a couple of minutes, especially when trading Bitcoin, which is one of the slower cryptocurrencies. However, various brokers have different speeds, and you definitely want to avoid the slow ones.
Ease-of-use: Check the broker’s user interface and see how easy or difficult it is to use the platform to buy Bitcoin with American Express. If you’re new to the world of crypto trading, go for the simplest-looking ones.
Should I Buy Bitcoin Using American Express
American Express is one of the most popular fiat payment methods, but it also comes with a couple of disadvantages.
Let’s take a look at the main benefits and drawbacks of using Amex to buy BTC.
Pros & Cons of Amex
- Fast — Amex transactions are instant, meaning you should be able to get hold of BTC pretty quickly.
- Rewards — American Express provides exclusive perks to users of its cards, such as travel rewards and priority booking.
- Secure — American Express is one of the most prominent payment institutions in the world, and it uses cutting-edge security features to make all transactions safe and protected from any kind of cyberattack.
- Easy to use — You probably already know how to use an Amex card to buy stuff on the internet. Buying Bitcoin is no different.
- Fees — Credit cards are typically one of the more expensive payment methods to use due to the fees involved.
- Lack of acceptance — The vast majority of crypto platforms don't accept Amex, so you may need to use a P2P platform to pay with Amex.
- Your credit card information could be at risk
Is Using American Express the Best Method to Buy Bitcoin?
American Express is certainly easy to use and the membership rewards make it attractive to many people. However, when it comes to buying Bitcoin, Amex certainly isn't the best method due to how few platforms accept it. You will have a much greater choice of platforms if you opt for a Mastercard or Visa card instead.
What are the Benefits of American Express at Crypto?
American Express may offer benefits such as convenience, rewards programs, and enhanced security when used for cryptocurrency purchases, depending on the specific card. However, the acceptance of American Express for buying cryptocurrencies varies among platforms. Thus, users should check specific terms and conditions before making transactions.
How Do I Convert My American Express Gift Card to Bitcoin?
Buying Bitcoin using American Express is a straightforward process, similar to making online purchases with credit and debit cards. For those using Amex gift cards, the recommended platform is Prestmit. To do so, users need to download the app on their iOS or Android device, create or log into their account, navigate to the Buy/Sell Gift Cards section on the dashboard, select Sell Gift Cards, and opt for Bitcoin as the preferred payment method.
The American Express gift card details, including the category, amount, and Bitcoin wallet address, should be filled out. After proceeding, users can follow the prompts to complete the transaction, receiving their Bitcoin in their wallet within minutes.
What Are the Alternative Payment Methods to Buy Bitcoin With?
Some of the alternatives you’ll often find available in online brokers are:
Other Credit/Debit Cards: As mentioned above, apart from American Express, you can use other popular card brands for deposits, including Visa and Mastercard. These brands are a much more widely accepted method of buying Bitcoin with a credit card or debit card.
E-wallets: Many brokers accept e-wallets such as PayPal for buying Bitcoin. What’s more, PayPal has also become a cryptocurrency wallet itself.
Bank Transfer: Some brokers allow you to buy Bitcoin with a bank transfer. This is typically the cheapest option, but may also be the slowest depending on the transfer network available.
Apple Pay: If you own an Apple device, you’ll be happy to know that many brokers accept Apple Pay for buying Bitcoin. It’s a convenient and highly secure payment option.
Following the information mentioned above, we created the following guides on alternative payment methods to Buy Bitcoin with:
What to Consider Before Buying Bitcoin with American Express Card
You should be aware that most exchanges restrict major credit card purchases of cryptocurrencies. American Express, for example, has a daily and monthly cap on Bitcoin purchases. Users cannot spend more than $200 per day and $1,000 per month.
Depending on the exchange, the cost of buying Bitcoin or other cryptocurrencies with a credit card varies. Fees for cards, and particularly American Express, can be high.
There may also be additional fees, such as foreign transaction fees and exchange rates. A trustworthy exchange will disclose all fees before you complete your purchase.
Final Thoughts
To sum up, American Express may be popular and easy to use, but it isn't a great option for buying Bitcoin as you will struggle to find platforms that accept it. If you want to buy Bitcoin with a card, consider the more widely accepted Mastercard and Visa cards instead.
