How to buy Ethereum online with a credit card

Buy Ethereum with a credit card

Ethereum is a cryptocurrency with an ever-expanding ecosystem evidenced by having the second-highest market value. Its market cap is north of $400 currently, proving its popularity globally. 

Users can acquire Ethereum using Credits cards ((Visa/MasterCard)). Most crypto exchanges allow payments with credit cards due to their popularity.

This page is a hub for all the information required to assist you in buying Ethereum using your credit card.

Best platforms to buy Ethereum online with a credit card – 2021

1
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% 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.
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Minimum Deposit
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Trade the global markets. Trade with real-time execution and professional tools
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.48% 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.
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Verified within 15 minutes

What is a credit card?

Credit cards are issued by financial institutions and are used to advance a line of credit for the cardholder.

Some exchanges readily accept Visa and Mastercard credit cards. Other exchanges are still sceptical about using credit cards because banks keep blocking crypto purchases from credit cards.

Some users prefer to link their credit cards to other payment options like Paypal, Apple Pay, and Google Pay, making this route longer and more expensive.

We recommend that users buy Ethereum from reputable exchanges only. Shady platforms may be out to steal your credit card information.

Please note that purchasing Ethereum using credit cards is not recommended. Ethereum and crypto purchases in general with credit cards are very expensive. Fees can range from 1%-5% depending on the exchange and card you use.

There are 3 ways users can purchase Ethereum:

  1. Using Ethereum wallets – These are downloadable wallets where users can purchase Ethereum easily. They function similarly to crypto exchanges when it comes to buying crypto.
  2. Peer to peer (P2P) marketplaces are decentralised exchanges that hand control over to vendors and buyers. Vendors place “Ads” detailing their offers, including the volume and price. 

There is the use of an escrow service that protects both the buyer and vendor

  1. Crypto exchanges – These are centralised platforms that allow users to buy Ethereum.

Due to the speculative nature of Ethereum, using a credit card for purchases has its upside but still faces various drawbacks. 

Buy Ethereum online with a credit card now at our preferred partner

1
Minimum Deposit
$50
Exclusive Promotion
User Score
10
More than 3,000 assets, including currencies, stocks, cryptocurrencies, ETFs, indices and commodities
Buy crypto, or trade cryptocurrencies via CFDs
CopyPortfolios: Innovative, fully managed investment strategies
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% 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.
ProsCons
Speed – Credit card purchases are renowned for speedy transactions. These transactions take an hour at most compared to bank transfers which may take 3-10 days. Fast transactions may allow you to seize a favourable price movement.Limits – Many exchanges and credit card issuers have imposed limits on how much can be spent on a credit card. This is different from bank and cash transactions.
Ease of Use – Using a credit card is an easy and practical way of funding your account. Bank restriction – Some banks restrict their cards from the purchase of Ethereum.
Secure – There are various layers of protection from the card issuer and the exchange.Privacy –Most exchanges will require you to verify your KYC details which exposes your data.
Expensive fees – Card issuers treat Ethereum purchases as cash advances. Charges range between 25%-27% depending on the issuer.
No grace period — The annual percentage rate(APR) would start applying immediately after the purchase.

How does Ethereum work?

Ethereum is an open-source blockchain used for developing, publishing, and running decentralised applications (dapps). A network of computers runs the Ethereum blockchain, assembling and running smart contracts. The blockchain is free from any central authority.

Ethereum has a native token known as Ether. The prices users see on the crypto exchange are for Ether. Some of the applications developed on Ethereum include payment methods, insurance, voting, and security systems.

Ethereum was first launched in 2014. Vitalik Buterin is credited for creating the Ethereum blockchain.

How to Buy Ethereum online with a Credit card

Using an Ethereum wallet

Download the wallet onto your phone and follow these steps to complete the purchase:

Step 1: Open an account and verify your details.

Step 2: Select Buy crypto and select Ethereum. 

Step 3: Enter the amount you wish to spend.

Step 4: Enter your credit card details and sanction the purchase. (Verify the fees and amount of coin before finalising the purchase).

Step 5: The Ethereum can be left in the wallet or transferred to a third-party wallet.

Examples of wallets you can use to purchase Ethereum include: 

  1. Trust wallet
  2. ZenGo
  3. SafePal

Using crypto exchanges

Follow these steps to acquire Ethereum with your Visa or MasterCard.

Step 1: Find a suitable exchange and create an account

Sign up for an exchange that is secure and offers reasonable fees.

Please note that some exchanges are geo-restricted; 

Step 2: Identity verification

Some exchanges may take up to 3 days to verify your identification documents. You will need to upload your ID card (Driving licence, passport, government identification), your photo. 

Step 3: Fund your purchase

Enter your card details, select “Buy Ethereum”, and enter the amount you wish to spend or the number of coins you wish to buy.

Most exchanges will require you to add your payment preferences. Select “credit card” from the payment options.

Step 4: Confirm the purchase.

Some of the best and most secure exchanges to get some Ethereum include:

  1. Coinbase
  2. Kraken
  3. BitPanda
  4. Coinmama
  5. CEX.io

Purchase using Peer to peer (P2P) platforms

Here are some of the steps common to all exchanges

Step 1: Open an account and verify your details.

Step 2: After account authorisation, browse for offers on the platform. You can filter for vendors who meet your preferences. Check for the following:

  1. Vendors who accept credit card payments
  2. suitable price
  3. Volume
  4. Vendor reputation(trust levels)
  5. Vendor availability and response times.

Step 3: Click on the offer that meets your requirement. Read any terms available. A chat feature enables you to communicate with the vendor.

Step 4: Add a credit card as your preferred method of payment. Complete the transfer of funds to the vendor. 

Step 5: Confirm the purchase. 

Step 6: The Ethereum will be released to your P2P wallet or the wallet address you issued. Transfer your coins to a third-party wallet. You can download and use wallets like Guarda, Alpha wallet, Pillar, Hyperpay, and D’CENT. 

P2P platforms are widely used due to their availability in many countries. Popular P2P exchanges include Paxful, LocalBitcoins and Remitano.

Congratulations, you’ve just bought your first Ethereum online with a credit card!

Top platforms to buy Ethereum online with a credit card

1
Minimum Deposit
$50
Exclusive Promotion
User Score
10
More than 3,000 assets, including currencies, stocks, cryptocurrencies, ETFs, indices and commodities
Buy crypto, or trade cryptocurrencies via CFDs
CopyPortfolios: Innovative, fully managed investment strategies
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% 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.
2
Minimum Deposit
$250
Exclusive Promotion
User Score
8.1
Trade the global markets. Trade with real-time execution and professional tools
Follow and copy Naga's top traders who have mastered their trading strategies
Free personal account manager
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.48% 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.
3
Minimum Deposit
$50
Exclusive Promotion
User Score
7.5
Over 4 million customers worldwide
Buy, sell and trade nearly 200 digital assets
Verified within 15 minutes