How To Buy Crypto Instantly With Your Debit/credit Card
At CEX.IO, you can buy crypto as easily as you shop online. Just select the amount of crypto you want to get and pay directly with your debit/credit card. The whole process takes less than five minutes:
Open the Buy/Sell page
Choose a crypto pack and click Buy
Enter your card number and card expiry date
Youll have the crypto you purchased on your CEX.IO balance within minutes.
Weve prepared a detailed guide to help you become a crypto owner without hassle.
Safe Ways To Get Btc With Amex
There are not many exchanges which you can use to buy BTC using AmEx cards. Although few others do allow AmEx cards, we are not sure of their safety measures, thus are not part of this guide.
The following three platforms are marketplaces which you can use on daily basis to gain bitcoins:
Plus500 Best Crypto Trading Platform For Beginners
Plus500 is an Israel-based CFD trading platform that was founded in 2008. The platform provides safe trading and is regulated by top-tier authorities, including ASIC in Australia and FCA in the UK. The broker stands out with its simple platform and well-designed mobile app, but it lacks some standard tools for trading, such as research charts, recommendations, etc.;
Nonetheless, Plus500 charges quite competitive trading fees and an inactivity fee of $10/month after three months of inactivity. The platform does not charge withdrawal fees and supports multiple payment methods, including credit and debit cards and e-wallets. To start trading on Plus500, you need to fund your account with a minimum deposit of $100.;
75 % of retail CFD accounts lose money when trading with this provider.
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So What Exchange Should I Choose
Each of the mentioned exchanges has its own pros and cons. Some accept gift cards, while other accepts all three types. The service availability is important as well if you happen to live outside of the US. Lastly, you should always concentrate your investigation on security measures, as they might lack the tools needed for you to properly safeguard your AmEx card balances.
A 2% Fee Goes To The Exchange
As with stocks, you’ll use a crypto exchange to purchase various digital currencies. So the first fee you’ll encounter when trying to use your cards to buy crypto is that charged by the exchange.
Exchanges will generally charge a credit card fee to buy crypto because credit card issuers charge a processing fee for every credit card transaction, including crypto purchases. These fees can vary a lot based on the issuer — and even based on the specific card — but they average around 2% of the transaction amount.
In some cases, the exchange may also tack on their own fees, above and beyond the processing fee, for allowing you to use a credit card. This could easily put your exchange fees at 3% or more.
Oh, and this is all supposing you find an exchange that accepts credit cards in the first place. Many issuers have prohibited credit card crypto purchases entirely. So you may have to do some searching to find a reputable crypto exchange that allows credit card purchases at all.
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Coinbase Buy Bitcoin With A Credit Card In The Us
Coinbase is a US-based cryptocurrency exchange that is best known for its great user interface and a bunch of trading tools for all types of traders. Though Coinbase is most famous within the US, it also accepts customers from other countries and already has 68 million users worldwide. The exchange offers two types of accounts Standard account and Coinbase Pro. The first is best suited for those who want to make a one-time purchase and buy and hold various crypto coins while the Coinbase Pro is ideal for active crypto traders who are looking for an advanced trading platform and low fees.
Compared to other platforms, Coinbase takes a relatively higher commission, which is charged every time you make a buy or a sell order. Plus, there is a deposit fee of $3.99 every time you transfer funds using a bank card payment option.
Generally, Coinbase supports trading more than 50 cryptos and 60 crypto pairs, while it also accepts buying BTC with 40 types of fiat currencies and ETH with seven currencies. You can also get access to other cryptos using USD Coin .
Other Ways To Buy Crypto Using Credit Cards
As the cryptocurrency market evolves, so does the standard financial market. There are a few start-up credit card issuers who offer Bitcoin or other cryptocurrencies as bonuses or rewards. For example, BlockFi, a younger card company, offers 1.5% Bitcoin rewards for every purchase made. They also boast Bitcoin welcome bonuses and more rewards from trading and client referrals.
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How To Buy Bitcoin With American Express Instantly Without Verification
To buy Bitcoin with your American Express card, you need to find an online exchange platform that supports this card as a payment option.
Most reputable exchange platforms that support Amex require you to go through the ID verification process in order to be able to trade on their platform. For example, you need to take a selfie holding your credit card or passport, etc. This is a sign that the market for buying and selling Bitcoin is becoming more regulated and secure.;
Some unregulated peer to peer crypto exchanges such as LocalBitcoins allow you to buy Bitcoin without going through the verification process. You only sign up for an online account, skip the KYC process, and purchase Bitcoin peer to peer. However it can be hard to find a trader that accept American Express, and while LocalBitcoins itself doesnt require verification, some individual traders still do for their own security. ;
Crypto Exchange Transaction Fees
Cryptocurrency exchanges make money in different ways. Almost all of them take a cut whenever you trade. This is true no matter which payment method you use.
However, when you pay with a credit card, youre hit with credit card fees on top of the normal exchange trading fees.
For example, to buy cryptocurrencies on Coinmama with a credit card, you have to pay:
Exchange rate spread: 2%
Commission fee: up to 3.9%
All these fees are built into the trade price, so you may not even realize how much you are losing unless you compare it to the true exchange rate.
Let’s say you want to buy some bitcoin. If you wanted to invest $1,000 in bitcoin through Coinmama, youd pay:
$20 on the exchange rate
$39 commission fee
$50 credit card fee
In other words, youd need a 10.9% return on investment just to break even on these fees.
But exchange fees are only one part of the equation. It gets even worse.
Read Also: How To Take Profit In Crypto
Withdrawing Bitcoin From A Brokerage Account
After getting your Bitcoin, you can create a personal Bitcoin account and withdraw your cryptos to store them on a Bitcoin wallet more safely. But whether you can do this or not depends on how you made your purchase. If you trade BTC through Contracts for Differences, you actually dont own the asset, and simply speculate on the price of the asset. Therefore, in this case, you cannot withdraw Bitcoin and send it to a personal wallet.;
In contrast to this, buying Bitcoin outright on a crypto exchange will give you the opportunity to transfer your coins to a more secure private wallet. Firstly, you need to find a platform that provides a BTC wallet account, create an account, and complete the transfer. You can find more information on this topic in our guide How to Open Your Free BTC Account.;
Best Choice to Buy Bitcoin with Credit Card in the U.S.
- Debit and Credit Card Available
- $200 Minimum Deposit
- Social Trading Platform & Copy Trading
- CySEC & FCA regulated
Buy Cryptocurrency With Credit Card On Changelly
Cryptocurrencies on Changelly
Today there are 48 cryptocurrencies on Changelly available to buy with fiat money.
This is a massive list.
I think Changelly has the record for most coins available for fiat purchase out of all the exchanges.
Here are all the coins:
- 0x Protocol Token
The reason why Changelly has this giant list of cryptocurrencies is that Changelly acts as an intermediary between exchanges.
This is really cool.
They use a special algorithm that scans all the crypto exchanges in their system to find the best prices for you.
This also enables Changelly to offer so many coins.
When you buy crypto with a credit card on Changelly you are buying from other exchanges.
But without any trouble registering on all of them!
Here you can see the different payment vendors that they use:
Thanks to Changelly you dont have to create any accounts with all the different cryptocurrency exchanges.
They already know all the exchanges and want to share their friendship with you.
The fees on Changelly depend on which payment vendor you are using.
When you are using Moonpay the total fee is 7.5%.
The total fee of Indacoin is 10%
The total fee of Simplex is 10%
These fees are a little bit higher than the normal standards.
But for this extra fee, you get to choose from many more cryptocurrencies.
At the moment Changelly has over 2 million happy users.
This is because this exchange is one of a few very good instant exchanges.
Security on Changelly
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Your Credit Card Information Could Be At Risk
Many cryptocurrency exchanges are scams and prey on people’s eagerness to earn a profit, so its important to research thoroughly before you make any cryptocurrency purchases. Of course, credit card fraud protection eliminates your liability for fraudulent purchases made on your credit card. Still, you want to be sure you’re not being scammed no matter what payment method you use.
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.
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Abra Users Can Now Buy Bitcoin With American Express Credit Cards A Move That Diversifies Its Available Payment Options
american express, card
Beginning today, a select group of Abra users and new customers will see the option to buy bitcoin with their American Express card.
The months-long integration process between the two companies involved Abra exposing the depths of its business processes to its partner and investor, and has resulted in;an even closer relationship between the firms.
Still, Abra founder and CEO Bill Barhydt believes the end result of that effort could be a rapid acceleration of bitcoin adoption globally.
Barhydt told CoinDesk:
This means users whose American Express purchase option is enabled today can now;purchase up to $200 worth of bitcoin per day, and up to $1,000 of bitcoin per month for a 4 percent fee.
Designed to cover Abra’s own costs, Barhydt said the startup doesn’t expect to generate any revenue from the fees, but will rather earn its share from managing the exchange rates between US dollars and bitcoin.
American Express spokesperson Elizabeth Crosta clarified that while Abras customers are now able to fund their wallets with American Express Abra is not processing the transaction.
Taxation On Bitcoin Earnings
Bitcoin is classified as a property by the United States Internal Revenue Service, meaning the US government applies taxes for holding Bitcoin and making profits from price movements of this cryptocurrency. The similar taxes that are used for property, are applied for Bitcoin too. Bitcoin Taxes differ depending on how much time you hold your Bitcoin before capital gain. On these terms, there are long-term capital gain taxes and short-term capital gain taxes. You can find more information on Bitcoin taxes by visiting the US IRS website.
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Where To Buy Bitcoin With American Express Card In September 2021
As previously mentioned, in order to buy Bitcoin with your American Express card, you first need to find a crypto exchange or brokerage platform that supports Amex as a payment method and register for an online account. Being a beginner in this field, you may find it challenging to choose the best brokerage platform for you as there are lots of them.;
To help you make the right decision for your trading needs, we have already researched for you, and in this part of the article, we will introduce the best brokers or exchange platforms to buy Bitcoin with an American Express credit card in 2021.
Buy Bitcoin With American Express
To fund your Abra wallet with your American Express card, simply follow these easy steps:
Step 1. Select American Express on the Add money screen
Step 2. Enter your American Express card details
Step 3. Add money to your Abra wallet with your American Express card
Step 4. Confirm the transfer
A fee of 4% of the total transaction amount is added to all Card transactions.;Abra users will be able to add up to $200 per day and up to $1000 per month via their American Express Card. Check our FAQs for our latest fee schedule and information on transaction limits.
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Is It Safe To Buy Bitcoin With American Express Credit Card
When you buy Bitcoin with American Express, you provide your card information to the platform on which you purchase thats essentially the main risk when using Amex. When you give these details, your credit card becomes more vulnerable to fraud. So, you must select a broker that is strongly regulated by tier-1 authorities, has a good reputation, and ensures clients data is protected. In this case, your funds will be secured, and the brokerage platform you trusted your information with wont share your card details with any third party.
With that in mind, all the brokers on our list are safe and secure. Your funds are safely kept in top-tier banks, and all of the personal information you provide to the platforms is guarded under SSL encryption. Therefore, when taking everything into consideration it is completely safe to buy Bitcoin with Amex.;
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Capitalcom Most Advanced Crypto Trading Platform That Accepts Amex
Founded in 2016, this relatively new brokerage platform has over a million users from over 50 countries.
Capital is a CFD trading platform that supports MetaTrader 4 and its own in house trading platform and offers a vast selection of over 4000 assets. Its also primarily famous for being the first platform to use artificial intelligence to provide trading strategies for its users.
As for the fees, the platform doesnt charge any trading fees, nor does it charge management fees. Also, theres no withdrawal, inactivity, or deposit fees when using the platform. However, it should be mentioned that Capital.com does not support US customers for now, while this may change in the future.
71.2% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider.
Safety And Security When Buying Bitcoin With A Credit Card
As mentioned previously, safety is a top priority that we must take into account before you get started. The problem is that you need to provide too many details about your identity during the registration and verification processes. Plus, using a credit card makes it even riskier than using e-wallets or bank transfers.;
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