How to Buy Bitcoin With Credit Card
Many people around the world invested in Bitcoin already or are planning to buy Bitcoin. However, there are many different places to buy Bitcoin as well as payment methods.
In this detailed guide, we share the best methods of buying Bitcoin with a credit card. Additionally, we share the top providers that were cherry-picked based on metrics such as fees, ease of use, safety, trading volume, regulation, supported cryptocurrencies, and much more. Also, we provide step-by-step processes of how to register with these platforms and complete your first Bitcoin transaction.
However, if you don’t have time to delve deeper, the top providers for buying Bitcoin with a Credit Card are eToro, Binance, Plus500, and LocalBitcoins.
Top Bitcoin Brokers That Accept Credit Cards
Almost every platform accepts credit cards, but choosing a reliable and trustworthy platform may be a daunting task.
To save you time, we’ve listed the top beginner-friendly platforms below to help you get started right away:
Crypto assets are highly volatile and largely unregulated. There is no guarantee that any crypto asset will have at any time in the future certain value (if any) or market liquidity. Crypto assets are at risk of losing substantial (or all) value within a short time period.
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 a Credit Card Bitcoin Broker?
A credit card Bitcoin broker is an online trading platform that lets you buy BTC with a credit card. There are currently four popular brands of credit cards: American Express, Visa, MasterCard, and Discover. All four are very likely to be accepted on all crypto trading platforms that take credit cards.
Bitcoin is a cryptocurrency, and a credit card broker actually allows you to deposit fiat money to the site using your credit card and then use it to purchase any of the available cryptos, including BTC.
Which Issuers Allow Buying Bitcoin Using Their Credit Cards
Some credit card companies believe that the cryptocurrency industry has too many risks, so they don’t allow their customers to deal in these transactions. Therefore, you should find out if your CC supports buying Bitocin, or you’ll need to find an alternative credit card company. This section summarizes if you can buy Bitcoin with popular credit card companies:
American Express (AMEX): you can use AMEX to buy from a limited number of Bitcoin trading platforms, including Paxful and LocalBitcoins. However, the credit card is not accepted at most other exchanges like Coinbase and Binance.
Bank of America: the Bank of America does not allow purchases of cryptocurrencies. This could be because they are developing their own blockchain technologies for customers to use in the future.
Barclays: you cannot use Barclays credit cards to complete cryptocurrency purchases.
Chase: it’s not possible to use Chase credit cards to buy Bitcoin.
Discover: you can't buy Bitcoin or other cryptocurrencies with Discover credit cards.
Wells Fargo: cryptocurrency purchases are not supported with Wells Fargo credit cards.
eToro - The Overall Best Way to Buy Bitcoin With a Credit Card
eToro is considered to be among the best cryptocurrency trading platforms for customers that want to deposit with Credit Cards. Beginners can get started by depositing just $10 and start trading Bitcoin or other cryptocurrencies. Additionally, inexperienced users can take advantage of the CopyTrader feature to mirror the trades of successful users. To learn more about the platforms’ strengths and weaknesses, check out our eToro review.
|💰 Trade Values:||CFDs, Cryptocurrencies, Commodities, Stocks, Indices, ETFs|
|📊 Software:||Website, web app, mobile app|
|🏆 Demo Account Available:||Yes|
|📺 Ease of use:||Very Good|
|⭐ Our rating:||5.0 / 5.0|
|📱 App Available:||iOS & Android|
|🧩 Regulation:||CySec, FCA and ASIC|
|💰 Fees:||1% transaction fee|
|🔁 CFDs Available:||Yes|
|⚽ Social Trading:||Yes|
Best Ways to Buy Bitcoin With a Credit Card
This section is an overview of the popular Bitcoin buying methods when using a Credit Card. Therefore, you can compare them to find one that matches your preferences:
Bitcoin P2P services
Best Brokers to Buy Bitcoin With a Credit Card
Brokers are excellent services for trading Bitcoin since the platforms handle the buying/selling process on your behalf. For these services they charge a fee, and they offer a wider selection of investable securities compared to exchanges. In the table below, you’ll find 3 of the top brokers for buying Bitcoin with a credit card.
|Provider||Credit Card Fee (USD 1000)||Get Started|
|🥇 eToro||$0 + CC fee||Start with eToro now|
|🥈 Binance||2% + CC fee||Start with Binance now|
|🥉 Wunderbit||5%||Start with Wunderbit now|
We have chosen the listed exchanges above because the platforms offer competitive consistently better experiences compared with alternative providers. Also, the brokers have a massive selection of tradable cryptocurrencies - for example, Binance offers 350+. Finally, the platforms are highly praised by customers, which indicates these brokers can be trusted with your money.
eToro - It’s the Best Choice for Low Fees
eToro does not charge a fee for using a credit card to deposit on its platform, so you’ll save money compared with alternatives. Also, they offer some of the best trading fees, starting at just 1%. Therefore, you can withdraw more of your profits, and many payment processors are available. Popular options include bank transfer, credit/debit card, and PayPal.
The social features at eToro are among the best in the business. Notably, the CopyTrader feature allows users to mimic the trades of other platform users, which means you can find successful Bitcoin traders and implement their strategies.
However, eToro charges an inactivity fee after 12 months and a withdrawal fee, which varies depending on the chosen payment processor.
How to Buy Bitcoin With Credit Card?
Bitcoin is the most popular cryptocurrency on the market so you will find that it’s offered virtually everywhere. Here are the specific steps involved in buying Bitcoin from an exchange called eToro:
Step 1: Create an Account
Step 2: Verify Your Account
Step 3: Fund Your Account
Step 4: Make Your First Purchase
Step 5: Click Confirm
Best CFD Brokers to Buy Bitcoin With a Credit Card
CFD brokers allow you to speculate on whether the price of Bitcoin will increase or decrease. This transaction involves contracts that state you must settle the difference between the coin’s price at the start and end. Therefore, you will not own the digit asset since it’s a speculative transaction. Check out the table below to find the top 3 CFD brokers for buying Bitcoin with a Credit Card.
|Provider||Credit Card Fee (USD 1000)||Get Started|
|🥇 Plus500||$0 + CC fee||Start with Plus500 now|
|🥈 BDSwiss||$0 + CC fee||Start with BDSwiss now|
|🥉 Eightcap||$0 + CC fee||Start with Eightcap now|
The listed CFD brokers in the table above were chosen because the providers do not charge a fee for using credit cards to deposit to their platforms. Also, the CFD brokers offer competitive fees trading fees, and a large number of cryptocurrencies are supported. Also, the platforms have an excellent reputation and are regulated by government-appointed organizations.
Plus500 - Top Choice for Low Fees
Plus500 charges no fees for deposits, live share CFD prices, opening/closing trades, and rolling your position. Therefore, users have a higher chance of profiting from Bitcoin price speculation than platforms that charge fees for these features.
Also, Plus500 provides a good choice of deposit options, including credit/debit cards, bank transfers, PayPal, Skrill, and much more. More choice means you can utilize backup options should your primary one fail.
Additionally, Plus500’s mobile app has a rating of 4.3 out of 5 on Google Play and App Store. The high score indicates that users have a great overall experience. It offers the same Bitcoin trading features as the desktop version.
However, the drawbacks of trading at Plus500 include mediocre research tools, and the educational content is lacking.
Best Bitcoin Exchanges to Buy Bitcoin With a Credit Card
Exchanges are among the most popular methods of buying Bitcoin with a credit card. On these platforms, users can buy cryptocurrencies using fiat currency, and you can buy Bitcoin using altcoins. Order books handle transactions, and the platforms act as intermediaries to simply the buying/selling process for users.
|Exchange||Credit Card Fee (USD 1000)||Get Started|
|🥇 Crypto.com||2.99% + CC fee||Get started now|
|🥈 KuCoin||Varies + CC fee||Get started now|
|🥉 eToro||$0 + CC fee||Get started now|
The listed exchanges above were selected based on popularity and a rich array of features, including social features like CopyTrader allowing users to mimic the trades of other eToro customers. Also, the customer support teams are responsive, and the intuitive UI design means you can easily find the cryptocurrencies you want to trade.
How to Buy Bitcoin With a Credit Card on an Exchange?
It’s possible to use credit cards to buy Bitcoin on popular exchanges, including eToro, Binance, Crypto.com, Kraken, CEX.IO, and much more. Start the Bitcoin buying process by registering a new account with one of these exchanges and complete the KYC process during onboarding. Typically, you’ll need to submit documents to provide proof of address and identity.
Not all exchanges accept credit cards as a deposit method, and not all card companies support cryptocurrency purchases. Therefore, before registering with an exchange, research to ensure they accept your specific credit card. When you log into your new account, navigate to the deposit section of the UI and select credit card as a payment method. There might be limitations such as deposit limits and limited fiat currencies.
How to find Bitcoin on an exchange: head over to the trading section of the exchange to start looking for Bitcoin. It’s the most popular cryptocurrency, so it might be at the top of the list. If not, most exchanges have a search bar where you can type in the coin you’re after.
Altcoins and Bitcoin
Not all altcoins can be purchased with fiat currencies, so you may need to use Bitcoin as an alternative. Therefore, purchase Bitcoin as mentioned in the steps above and find the altcoins you want to buy. Select the buy button and the amount of altcoin you want to trade with Bitcoin.
Crypto.com - Excellent Choice for Large List of Cryptocurrencies
Crypto.com supports over 250 cryptocurrencies for trading, which opens up a big world of opportunities. Also, 50m+ users are trading on the platform, so it’s a trusted exchange where the trading volume is high.
Additionally, you’ll receive 5% cashback when using VISA cards to deposit funds on Crypto.com. It’s perfect for users that want to buy Bitcoin with a credit card and get the best value. Overall, Crypto.com provides a competitive fee structure with excellent transparency, so you can easily calculate the trading fees.
The drawbacks of buying Bitcoin on Crypto.com include unresponsive customer support and some trading fee discounts that can be confusing to understand.
Can I Use Decentralized Exchanges With Credit Cards?
Decentralized exchanges (DEX) were first released in 2014 and completely changed how cryptocurrencies could be traded. The peer-to-peer technology allows users to trade without intermediaries like Coinbase or Binance.
Therefore, users can use DEXs anonymously without completing KYC verification - you simply need to connect a DeFi wallet like MetaMask. Once the crypto wallet is connected, you can buy/sell coins and broadcast transactions.
Hence, you cannot use credit cards to directly interact with DEXs. You must have tokens on a DeFi wallet and connect one compatible with the DEX where you want to trade. You can use credit cards to buy cryptocurrencies on a centralized exchange and transfer those coins to a DeFi wallet.
Best Bitcoin P2P Platforms to Buy Bitcoin With a Credit Card
P2P platforms allow users to buy Bitcoin directly by using a wide range of payment methods, including credit cards. The platforms allow sellers to post offers with the coins price, accepted payment methods, and allowed timeframe to complete payment. In the table below, you’ll find the top 3 P2P platforms for buying Bitcoin with a credit card.
|Exchange||Credit Card Fee (USD 1000)||Get Started|
|🥇 LocalBitcoins||$0 + CC fee||Get started with LocalBitcoins now|
|🥈 KuCoin||Varies + CC fee||Get started with KuCoin now|
|🥉 Paxful||$0 + CC fee||Get started with Paxful now|
The listed P2P platforms above were chosen because the providers have consistently large trading volumes, which means you have a good chance of finding the offers that match your requirements. Also, the platforms provide a rich choice of payment options, so users have more flexibility when interacting with sellers. Finally, the heavy regulation of the platforms ensures they provide a trustworthy service for traders.
LocalBitcoins - Has the Highest Trading Volume
LocalBitcoins is a top choice for Bitcoin buyers because of the large selection of offers for buying the coin. Also, the UI is easy to navigate to find the offer that offers the best deal for your needs.
Online transactions are quick and simple, so new users don’t need a lengthy learning curve. Also, LocalBitcoins has implemented an escrow system, which should provide skeptical users with peace of mind.
The drawbacks of using LocalBitcoins to buy Bitcoin include the lack of more cryptocurrencies, and the platform asks for a large amount of personal information - this is a turn-off for buyers seeking anonymity.
Best Apps to Buy Bitcoin With a Credit Card
You can conveniently buy Bitcoin using credit cards on mobile apps. Crypto trading apps can be downloaded from the App Store or Google Play, depending on your smartphone's operating system. Generally speaking, mobile apps provide users with the same trading features as the desktop version. Check out the top 3 mobile apps for buying Bitcoin with credit cards in the table below.
|Provider||OS||Credit Card Fee (USD 1000)||Get Started|
|🥇 eToro App||Android / iOS||$0 + CC fee||Start with eToro now|
|🥈 Binance||Android / iOS||2% + CC fee||Start with Binance now|
|🥉 KuCoin||Android / iOS||Varies + CC fee||Start with KuCoin now|
The listed Bitcoin trading apps in the table above were chosen above alternatives because the providers offer beginner-friendly UI’s that allow you to quickly find the desired coins. Also, the fees are competitive and they are regulated by trusted government-backed regulators. Finally, the apps have excellent scores on the Google Play and App Store platforms.
eToro App - Top Choice for Social Trading
eToro provides extensive social trading features, including chatting with other users about investment strategies and sharing new findings with other users. Additionally, you can take advantage of the CopyTrader feature, which enables users to copy the trades of successful users. Therefore, inexperienced users can piggyback on the experience of other eToro users.
Also, eToro delivers a safe mobile trading experience since the login mechanism and transaction must be verified using two-factor authentication. Finally, it’s a heavily regulated platform scrutinized by trusted regulatory bodies.
However, some of Etoro's drawbacks include a withdrawal fee and an inactivity fee after 12 months of idleness.
Buy Bitcoin on eToro App With a Credit Card: Step-By-Step Guide
Should You Buy Bitcoin With a Credit Card?
Credit cards are easily accessible for most people, and you might already have one in your possession. Therefore, the payment method may not require registration with 3rd party providers, and it offers instant processing speeds so you can buy Bitcoin shortly after creating your account.
Furthermore, credit cards are accepted at most Bitcoin trading platforms, so you’ll have no trouble finding a suitable platform. Credit cards are a good option if you’re low on cash and want to borrow money to invest in cryptocurrencies.
However, the drawbacks of using credit cards include a lack of availability at some Bitcoin trading platforms, including Coinbase. Also, the fees are higher compared to alternative payment processors like PayPal.
Credit Card Issuer Penalties on Cash Advance
When using your credit card to deposit on a Bitcoin exchange or broker platform, the transaction type is classed as a cash advance. This means that interest can immediately accrue once you have completed the transaction. To avoid unexpected fees, here is what you should know:
Cash Advance Fee: this is a service charge fee that might be a flat fee or percentage of the cash advance amount - it depends on your credit card company.
Higher Interest Rate: credit card companies feel that cryptocurrencies are risky transactions, so your interest rates for getting a cash advance might be higher.
No Grace Period: some credit card transactions may provide a grace period, where the interest on the outstanding balance is only charged after a specified period of time. However, cryptocurrency transactions with no grace period mean you’ll instantly be charged for borrowing money.
Lower Credit Limit: since buying cryptocurrency is classed as a risky transaction, you may be given a lower credit limit than usual.
No Credit Card Rewards: most credit card companies attract customers by offering cashback and other rewards. However, spending money on an exchange to buy Bitcoin might not generate any rewards.
You may have the option of buying Bitcoin without using a cash advance - it depends on the terms and conditions of your credit card company.
Is It Worth Buying Bitcoin With a Credit Card?
In this section, we provide our thoughts on if it’s a good idea to use a credit card to buy Bitcoin. Overall, it’s a good choice if you’re after an accessible method that offers instant processing times. Also, it’s available at popular providers like eToro and Binance, but there are notable omissions like Coinbase.
However, you will be limited by the amount of Bitcoin you can buy using a credit card. The amount depends on the credit card company you’re using. However, you can somewhat increase the buying limits by using multiple credit cards.
Is Using a Credit Card the Fastest Way to Buy Bitcoin?
The processing time for depositing funds to the Bitcoin trading platform is instant. Therefore, you can use the funds to immediately buy Bitcoin using the deposited fiat currency. Other fast methods of buying Bitcoin include PayPal.
Is Using a Credit Card the Safest Way to Buy Bitcoin?
Credit cards are safe Bitcoin buying methods because most companies provide two-factor authentication and other security protocols. Also, your money is usually protected by the card company, which means you have a means of retrieving funds if you get scammed. However, this varies based on the credit card company you’re using.
Is Using a Credit Card the Cheapest and Easiest Way to Buy Bitcoin?
Credit cards are among the easiest ways of buying Bitcoin since you might already have access to one, transactions are instant, and you simply need to enter the card information. However, they are not the cheapest option since you can get charged by the Bitcoin trading platform and card company, which results in significant fees. However, to save money, you can use PayPal to deposit funds without incurring deposit fees.
Receive Crypto as a Credit Card Reward for Buying Bitcoin
You can revive cryptocurrencies such as Bitcoin as a reward for using credit cards. The list below highlights popular cards with crypto rewards:
Brex Card: when using the Brex card, you’ll accumulate Brex points, and 1,000 of them can be traded for $7 worth of Bitcoin or Ethereum. The amount of cryptocurrency you’ll receive depends on current market conditions.
Venmo Credit Card: when shopping with Venmo, you’ll receive cashback. You can choose to receive the cashback in a cryptocurrency of your choosing. You simply need to specify the coin, and you can change it at any time.
BlockFi Rewards Visa® Signature Credit Card: you’ll receive up to 10% cashback when shopping at destinations like restaurants and online stores. You can choose the cashback to be Bitcoin or 15+ other cryptocurrencies.
Gemini Credit Card: you’ll receive 3% cashback for various Gemini card purchases, and you can choose the rewards in Bitcoin or 60+ other cryptocurrencies.
Upgrade Bitcoin Rewards Card: when making payments with this card, you’ll receive 1.5% cashback in Bitcoin.
What Are the Fees When Buying Bitcoin With a Credit Card?
This section summarizes various fees when using a credit card to buy Bitcoin.
|Platform||eToro Broker||Plus500 CFD||Binance Exchange|
|Deposit fees||$0 + CC fee||$0 + CC fee||2% + CC fee|
|Purchase fees||$10||Spread of 0.30%||$1|
|Selling Fees||$10||Spread of 0.30%||$1|
|Total fees||$25||Spread of 0.30% for selling/buying||$17|
Is Buying Bitcoin With a Credit Card Anonymous?
As you’ll see in the following section, buying Bitcoin with a credit card is not anonymous. We will offer a few alternatives to indirectly buy Bitcoin anonymously with a credit card on a DEX.
Can You Buy Bitcoin With a Credit Card Without Verification or KYC?
When using a credit card on an exchange or broker platform, you must complete the KYC process and verify your identity. However, you can buy Bitcoin on a DEX by funding your DeFi wallet, which you can do with tokens bought on a CEX using a credit card.
Can You Buy Bitcoin With a Credit Card Without Registration?
No, you’ll need to register with the brokerage platform or exchange where you want to buy Bitcoin. Also, you’ll need to register with the credit card company you’ll use as the payment processor.
Alternative Payment Options to Buy Bitcoin With USD
You may want to take advantage of alternative methods of buying Bitcoin if you feel credit cards are too expensive or you don’t have access to one. The list below highlights excellent alternative methods of buying Bitcoin.
Buy Bitcoin With PayPal
PayPal can be better than using a credit card to buy Bitcoin because there is no deposit fee, and you’re using personal funds instead of a cash advance. This means the purchase amount will not begin to generate interest that you must pay at a later date.
Buy Bitcoin With Prepaid Cards and Debit Cards
Buying Bitcoin with prepaid cards and debit cards allows you to enjoy lower fees since you won't be paying interest on a cash advance. Also, they are instant processing methods and are available on some trading platforms where credit cards aren’t accepted.
PaySafeCard is a great example of a prepaid card that can be used with many of the top Bitcoin trading platforms and promotes anonymity.
Buy Bitcoin With a Credit Card on Digital Wallets
You may want to use digital wallets to purchase Bitcoin with a credit card. Benefits of this include lower fees and wide availability. Some platforms might not accept credit cards directly, but digital wallets like Apple Pay, Google Pay, Venmo, Cash app, and Zelle are accepted.
What to Consider When Buying Bitcoin With a Credit Card?
This section summarizes what you should know when buying Bitcoin with a credit card:
Credit Cards Supported: you’ll need to find Bitcoin trading platforms that accept credit cards as a payment method.
Foreign Exchange Fee: if the fiat currencies on your credit card and trading platform account balance are different, then you’ll need to consider the fees and FX rates for the currency conversion.
Scams: cryptocurrency trading platforms might be scams that were created to raise money and then disappear. Therefore, you must complete background research on a platform you’re interested in using to buy Bitcoin. The platforms we mention in this guide are among the most trusted and regulated in the industry.
Debt: buying Bitcoin with a credit card requires a cash advance, which you’ll have to pay back later. However, if the cryptocurrency you buy loses its value, you’ll be in debt.
Credit utilization: this is the amount of money you have borrowed divided by your credit limit, and it’s expressed as a percentage. Generally, a credit utilization lower than 30% is best to maintain a good credit score.
Compare the Fees: check the fees of each Bitcoin trading platform to find one that offers the lowest ones. Also, check to see what fees are charged by your credit card company.
Taxes: in the United States you need to submit the IRS Form 8949 to the IRS to show your cryptocurrency gains and losses. Capital gains taxes must be paid if you have a profitable year.
Limits: other than your credit limit, the Bitcoin trading platform might impose a limit on how much you can deposit using credit cards.
How to Sell Bitcoin and Withdraw Money to Credit Cards?
In this section, we will show the step-by-step process of how to sell Bitcoin using a credit card.
Step 1: Find Bitcoin
Step 2: Sell Bitcoin
Step 3: Withdraw to Credit Card
Do All Platforms Accept Credit Cards to Buy Bitcoin?
Credit cards are accepted on many platforms, but not all. You’ll find the availability status of popular Bitcoin trading providers in the table below:
|Provider||Credit Card Accepted||Review|
|Robinhood||No||Read Robinhood review|
|Binance||Yes||Read Coinbase review|
|Changelly||Yes||Read Changelly review|
|Bittrex||Yes||Read Bittrex review|
|Poloniex||Yes||Read Poloniex review|
|Coinbase||No||Read Coinbase review|
|Kraken||Yes||Read Kraken review|
|Gemini||Yes||Read Gemini review|
|Coinmama||Yes||Read Coinmama review|
Should I Buy Bitcoin With a Credit Card?
To conclude, buying Bitcoin with a credit card is a good idea if you are short on money and want to get a cash advance for the transaction. Also, you can take advantage of credit cards that provide crypto rewards to get extra value. Credit cards are also accepted at many top-tier Bitcoin crypto trading platforms and offer instant processing times. However, the biggest drawback of using credit cards is the relatively high deposit fees charged by trading platforms and credit card companies.
You can use credit cards to buy Bitcoin on some of the most popular trading platforms, including eToro, Binance, Plus500, and LocalBitcoins.
Can I Buy Any Other Cryptocurrencies With a Credit Card?
Yes, you can buy hundreds of cryptocurrencies with credit cards, including Ethereum, Dogecoin, Litecoin, and XRP..