Compare Cash Back Cards
Another option if you want to use credit card rewards to buy cryptos is to get a cash back rewards card and transfer your rewards to your bank account. Then, use those funds to buy cryptocurrencies through an exchange. While it’s not as direct, many exchanges charge no or low fees for bank transfers, and you won’t have to worry about credit card cash advance fees.
You can quickly compare cash back card offers from our partners in the Experian CreditMatchTM marketplace. If you sign in, you can choose cards to create a side-by-side comparison and get matched with specific cards or offers based on your credit profile.
All information about the BlockFi Bitcoin Rewards Credit Card, Coinbase Card, Gemini Credit CardTM, Crypto.com prepaid card, and SoFi Credit Card has been collected by Experian and has not been reviewed or provided by the issuer of the card. Offer details may be outdated.
You Can Buy Crypto With A Credit Card But Don’t Miss The True Cost
These days it really does seem like everyone has some bitcoin or another cryptocurrency jingling around in their digital pockets.
Even though the true figure is more like one in 10 Americans, thats still a big number and the fear of missing out on the next major price surge is real.
If you dont have the funds to make a sizable investment, its tempting to reach for your credit card. After all, you can just pay it off with your crypto earnings, right?
Well, maybe but as it turns out, buying crypto with a credit card can be extremely expensive. Until you understand the true cost, keep your Visa or Mastercard in its holster.
Best For Holding Crypto: Ternio Blockcard
The Ternio BlockCard stands out for not only supporting multiple coins but also as the only card that lets you hold your crypto assets until the point of sale. This differs from many other cards that take your crypto, convert to FIAT and place the USD value on a card. You can spend your cryptocurrencies at over 61 million merchants worldwide.
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When Purchasing Cryptocurrency With A Credit Card Is Allowed
Its best to check with a credit card issuer to find out whether it allows cardholders to purchase any type of cryptocurrency. American Express currently allows such transactions with a few strict terms. Bank of America recently changed its tune in 2020 when a Reddit user shared an image of a letter they received that stated cryptocurrency purchases would be treated as cash advances.
In addition to double-checking with a credit card company, crypto holders should also look for a cryptocurrency exchange willing to accept credit cards for deposits or purchases. Some only allow direct deposits from banks, cash deposits or debit card purchases. Coinmama, CEX.io and Paxful are all exchanges currently accepting credit cards.
Limitations also exist as to what types of credit cards are accepted by exchanges. Some exchanges may only take Visa or Mastercard credit cards. Paxful, for example, has a variety of Bitcoin vendors from around the world who sell on the exchange website. Its one of the few exchanges currently accepting American Express credit cards, but acceptance on the exchange also greatly depends on the selected vendor.
Better Ways To Buy Crypto
While you should certainly avoid using a credit card to buy crypto, you have several other options. For those set on using plastic to pay, most major crypto exchanges will accept debit cards. If your debit card earns rewards, you may even score some points or cash back .
Perhaps the most widely accepted way to buy cryptocurrency is through an ACH transfer. This is a direct transfer of funds from your bank account to your exchange account. ACH transfers have very low processing fees, so your exchange may not charge you anything at all for the transaction.
Cryptocurrency may be all the rage these days, but you don’t need to make any hasty investments. Not only should you carefully research how to buy, but you should also ensure you know what you’re buying. Crypto is a volatile investment, at best, so be sure you’re well informed before you dive in.
Read Also: Can You Get Free Bitcoin
List Of Platforms With Credit Card Compared
- Funding Mastercard, Visa, Bank transfer, PayPal, SEPA
- Languages English, German, Spanish, French, Japanese, Italian, Polish, Portuguese, Russian, Turkish
- Restricted countries Cuba, Haiti, Belize, Saint Lucia, Grenada, Saint Vincent and the
- Products Cryptocurrency
- Trading platforms Webtrader, Own trading platform Windows + Mac
- Devices Desktop, Smartphone, Web, Tablet
- Max leverage 3
- Order types MO Market Order, SM Stop Market, SL
- Support Contact Form, Phone Number, Email
- High Security
- Established2013 United Kingdom
- Type Cryptocurrency Exchange
- Currencies USD, EUR, GBP, RUB, TRY, ZAR, JPY, ARS, AUD, AZN, BRL, BGN, CAD, CLP, COP
- Funding Visa, Mastercard, Bank transfer, ADV Cash, Yandex.Money, QIWI, Payeer, SEPA
- Languages English, Spanish, French, German, Italian, Portuguese, Romanian, Mandarin , Russian
- Restricted countries Albania, Barbados, Botswana, Burkina Faso, Cambodia, Cayman Islands, Ghana, Jamaica
- Products Cryptocurrency
- Trading platforms Tradingview, Webtrader, Mobile App Android + Mac
- Devices Desktop, Smartphone, Tablet, Web
- Max leverage 1
- Order types MO Market Order, SO Stop Order, LO
- Support Email
FinCEN regulation as Money Service BusinessAvailable in several US statesGreat Cashback reward system
No leverage trading for experienced tradersShort selling is not an option
- Buy Cryptocurrency
Very poor trading interface for day traders and scalpersLow-quality customer support
- Products Cryptocurrency
- Support Phone Number, Contact Form, Email
Applying For A Bitcoin Debit Card
After youve decided which Bitcoin debit card works best for you, youll need to apply for a card. To use a Bitcoin debit card, there are a few steps youll need to take, including:
- Creating a Bitcoin wallet
- Buying Bitcoin from a reputable exchange
- Connecting the card to a wallet
- Funding the card
- Using the card to make purchases
Some cards require users to validate their identity before being approved. Others require users to purchase a card or make an investment in the cards native currency. You can transfer Bitcoin from the debit card to fiat currency via an exchange or Bitcoin ATM.
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Buying Bitcoin With Prepaid Credit Cards
While a credit card is a great option to buy bitcoin, Prepaid credit cards are also widely accepted among bitcoin investors. These cards are usually safer as they are not linked to your other account, and you provide fewer details when linking them to your brokerage account. To learn how to buy bitcoin with a prepaid card, visit our guide Buy Bitcoin with Prepaid Card, where you will find all the essential information related to this payment option.
Buy Crypto With Credit Card On Coinmama
Cryptocurrencies on Coinmama
Coinmama is currently offering 10 cryptocurrencies on their exchange.
All are available with fiat payment.
Here is the full list of coins:
This is another exchange that keeps adding coins to their list available with card payments.
I really like this and Coinmama has made it very easy to buy crypto with a credit card.
At the moment no exchange will satisfy every cryptocurrency trader with all the coins.
This is why you might need to use several exchanges to find the right coins you want to invest in.
Coinmama is definitely one of those exchanges you need to have on your list to find the coins you want.
Fees on Coinmama are set from 5.90%10.90%
When you sell cryptocurrencies on Coinmama the fee is 3% less than if you buy.
These are still very competitive transaction fees on the market.
Security on Coinmama
On Coinmama you can take several security measures.
First of all, when you register with the exchange you are asked to send in full KYC documents.
This includes a selfie of yourself with your drivers license or passport.
You get to fill in this form.
This is to make sure your account is safe in case of any hacks or security breaches.
If your account gets suspended, only you can send in the right documents.
Here you are asked to send in a picture of your ID.
You can choose from:
I sent in my drivers license and got a confirmation within a few minutes.
Their KYC process is very quick.
How to buy Crypto with Credit Card on Coinmama
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Can You Buy Bitcoin With A Credit Card
Yes, it’s possible to buy bitcoin with a credit card. But it depends on what exchange you’re using. Some crypto exchanges do allow you to buy bitcoin with a credit card but they do come with fees.
Your ability to purchase crypto with a credit card will also depend on the credit card issuer.
” specifically prohibits purchasing currency with their card but, for now, allows purchases of cryptocurrency,” says Courtney Richardson, Esq., founder of The Ivy Investor. If your chosen exchange and credit card issuer allow you to make the purchase, the process for setting up these transactions is very similar to the process to link and verify your bank account via ACH .
Buy Crypto With Credit Card
To buy Bitcoin and other popular cryptocurrencies using Visa or Mastercard credit and debit cards, enter the amount you would like to purchase along with your wallet address and press “Continue”.
MyBTC.ca has entered into a referral agreement with Simplex for credit card processing. MyBTC.ca is simply the affiliate marketer while Simplex is a processing partner that performs the customer KYC, processing of payment, procurement and sending of your cryptocurrency.
Order and transaction history will not be available within your MyBTC.ca account but rather emailed to you by Simplex upon each completed order with credit card. If you have previously completed identity verification on MyBTC.ca, you will still need to be verified by Simplex to purchase cryptocurrency using credit card. You will only have to complete verification with Simplex on your first transaction if using the same email and phone number for all subsequent orders.
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Best For Free Virtual Card: Crypterium Card Visa
Crypterium offers the best of both worlds if youre looking to own a virtual and plastic card. The Crypterium prepaid payment card seamlessly connects to the Crypterium wallet so that you can spend your digital assets at your convenience. Use this payment solution for offline and online purchases as well as to withdraw fiat money from ATMs.
Turning your digital assets into cash has never been easier withdraw up to $2,976 per month from any VISA-compatible ATMs. The Crypterium Card carries a $3.56 monthly maintenance fee that you can easily write off when you load your card with $356 each month.
Are There Alternative Crypto Credit Cards Worth Considering
These five best crypto cards are far from the only options available in today’s market.
Other options for your crypto rewards credit card include these:
- Crypterium: This is a prepaid crypto card.
- Nexo: With a Nexo credit card, you can borrow up to $2 million in loans.
- SoFi: You can earn two points per dollar spent with the SoFi credit card.
- Swipe: The Swipe Visa offers tons of features with up to 8% back.
- TenX: A popular choice, the TenX Visa card features none of the typical fees.
No matter which card you choose, you should always carefully read the terms and conditions to ensure that you find the best crypto credit card for rewards that works for your spending needs.
Read Also: How To Buy Crypto In Binance
Is It Safe To Buy Crypto With A Credit Card Or Debit Card
Generally speaking, its perfectly safe to buy cryptocurrency with a credit card provided you buy from a trusted and reputable exchange or broker.
Make sure you thoroughly research the credentials of any platform before trusting it with your card information, because if you dont feel comfortable giving a provider your credit card details, you shouldnt feel comfortable buying cryptocurrency from them either.
So, how can you find a suitable exchange and minimize the risks involved in paying for crypto with plastic? The tips below will not only help you stay safe, but also avoid getting ripped off.
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Can I Buy Crypto With A Credit Card
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This article provides information for educational purposes. NerdWallet does not offer advisory or brokerage services, nor does it recommend specific investments, including stocks, securities or cryptocurrencies.
If youre accustomed to using a credit card for all your purchases, you might be surprised to learn that buying bitcoin and other cryptocurrencies could be a no-go. If you try, you could be limited in two ways: by the exchange where youre trying to buy the cryptocurrency or by your own credit card issuer.
Some big cryptocurrency exchanges, like Coinbase, dont accept credit cards. Coinmama and CEX.io say they accept credit cards, but only Visa and Mastercard. And even then, that doesnt mean your credit card company allows it.
Most large U.S. credit card issuers dont allow the purchase of cryptocurrency, while others penalize cardholders with fees.
Even if you can use your credit card from, say, a smaller bank to exchange dollars for bitcoins, you might not want to. And for what its worth, NerdWallet doesnt recommend it.
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Conclusion: How Do I Know Which Exchange To Use
It can be kind of hard to decide which exchange is the best platform for buying your Bitcoins since there are so many of them. I suggest trying out each exchange with a small amount of money and moving on to larger funds only after youre comfortable with the process.
Once you take the first step youll start to notice what you actually value in an exchange and adjust your choices accordingly. If you have any more questions or comments about the methods I just described, leave me a comment below.
Plus500 Buy Bitcoin Outside The Us With No Commissions
Plus500 is among the most reputable CFD trading platforms, with customers from more than 50 countries. Its a commission-free broker with pretty competitive spreads, a high leverage ratio, and a simple to use web-based and mobile trading app. Also, Plus500 is a highly trustworthy platform as it has licenses from such regulatory financial institutions as ASIC, FCA, and CySEC.
Regarding its non-trading fees, the broker does not apply any withdrawal fees but charges currency conversions. There is also an inactivity fee of $10/month if you dont show any activity within three months. Plus500 requires a minimum deposit of $100, which you can transfer through multiple payment options, including credit cards.
The broker offers web trading via its WebTrader online platform and offers trading apps for Android, iPad, and iPhone users. Along with bitcoin and cryptocurrencies, the broker supports a wide selection of other assets, including ETFs, indices, forex, commodities, etc.
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Trusted And Reliable Payment Processors
Mercuryo allows you to buy cryptocurrency seamlessly and hassle-free. You can choose from their wide selection of cryptos and transact with ease of mind, knowing that your transactions are protected, and your data is safe with Mercuryoâs top-notch security.
OWNRâs intuitive interface makes it suitable for use by professionals and even newbies. They ensure a reasonable rate for any crypto purchase you make on their platform. With 24/7 customer support, rest assured you will get all the help you need whenever you use OWNR wallet.
Crypto As A Credit Card Reward
Buying cryptocurrencies with a credit card is a bad idea, but you can use your card to get your hands on crypto in other ways.
One way is with a crypto rewards credit card. These cards are similar to traditional rewards cards, but instead of earning cash back or airline miles, you earn crypto .
You can also use a cash-back rewards card, then use your cash rewards to buy crypto.
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