A fiat-to-crypto exchange allows users to convert their cash into cryptocurrency. These fiat-crypto conversions are quite different from trading between cryptos as a party needs to sell the initial crypto that is traded later on.
Hence, these exchanges serve as the first contact for new crypto users. Our guide explores some of the best fiat-to-crypto exchanges around. It uncovers the best exchanges, their deposit and withdrawal methods, how much they cost, and what makes them special when compared to others.
Looking for a quick answer? Here are our top 3 fiat-to-crypto exchanges.
1. eToro - Best Overall Exchange
2. Binance - Best Multi-Currency Support
3. Bitstamp - Most Secure Exchange
4. OKX - Best for Direct Crypto Purchases
5. Coinbase - Simplest Fiat-to-Crypto Interface
6. Bitpanda - Best Exchange for Europeans
7. Uphold - Best for Mobile Payments
8. YouHodler - Best for Bank Deposits
FCA, CySEC, AFSL
0.025% - 2%
FMA, AMF, Czech Trade Authority
0.8% - 1.8%
eToro is one of the most used exchanges in the world with a user base of over 25 million people. Its fiat onramp makes it a top choice for the best fiat-to-crypto exchanges.
The exchange incorporates other features that place it high on our list, like free deposits. You do not pay deposit fees for using any of the many supported methods.
You can deposit using bank transfers, credit cards, PayPal, Skrill, and Neteller, however, you’ll need to send in at least $10. Withdrawals are similar but cost $5 for amounts above $30.
There are upper limits for single deposits depending on the payment method used and your geographical region. For example, the maximum single deposit you can make with a credit card is $40,000. With PayPal, Skrill, and Neteller, it is $10,000, while bank transfers are pretty much unlimited, although your bank may impose limits.
Once you have deposited funds, you can trade between the 63+ coins on the exchange at a 1% conversion fee.
For more information about eToro, read our full eToro review here.
63+ cryptos supported
$10 minimum deposit (UK and USA)
Free deposits and withdrawals under $30
Supports multiple deposit methods
Unavailable in some countries
Not as many cryptocurrencies as some crypto-specific exchanges
Flexible payment methods
Large user base
Binance’s daily trade volume of $76 billion, multi-currency support, and several payment methods, including the largest crypto peer-to-peer marketplace in the world, make it a great option for a fiat-to-crypto exchange.
The exchange is currently the largest in the world, housing a coin selection that exceeds 600 coins and providing support for 80 world currencies. You can deposit to your Binance account using almost any major currency you can know.
When depositing, you can either deposit cash to your account or buy crypto directly with a payment method. Sometimes, these options are fixed to certain deposit methods and currencies.
For example, when making GBP deposits, you can use a bank card to deposit GBP into your Binance account or use credit cards to buy crypto directly with the currency. The case is not the same for USD.
With USD, you can only deposit cash using a SWIFT transfer. However, you can buy crypto directly with credit cards, Google Pay, and Apple Pay.
Binance imposes volume limits for the direct purchase feature, called “Buy Crypto”, depending on the currency used. USD purchases have a minimum limit of $15 and a maximum of $20,000.
For GBP, the limit is a minimum of £15 and a maximum single transaction value of £10,000. For EUR, it is between €15 and €12,500. To find out the limit for your currency, visit the website.
Once you have deposited cash or bought crypto, you can trade at an affordable rate of 0.10% per trade.
To learn more, read our full Binance review here.
Large coin selection
Multi-currency support for up to 80 fiat currencies
Custom deposit methods for several currencies
24/7 chat support
P2p market available as an alternative onramp
Credit card fees are somewhat high at 1.8%
Faces regulatory hurdles in some jurisdictions
Large daily trade volume
Segregated accounts for Futures, Spot, and Margin trading
High Leverage options for Futures
Fast execution speed
Bitstamp is a security-conscious exchange with a fiat onramp. It offers 75+ cryptos, cold storage, and an instant purchase feature.
The exchange supports eight major payment methods for both cash deposits and instant purchases. Cash deposit methods include Faster Payments, Sepa, and ACH payments, while instant purchase methods include credit/debit cards, Apple Pay, Google Pay, and PayPal.
You may not have access to all these payment methods, depending on your location. For example, European users may not have access to Faster Payments as it is mainly a UK service.
Deposits for all cash transfer methods are free while withdrawals cost €2 for Sepa and £3 for Faster Payments. Wire deposits cost 0.05% with a minimum of $7.5 (£5) and a maximum of $300 (£250) while withdrawals cost 0.1% with a minimum of $/£25. The minimum deposit amount for the exchange is $10.
On the other hand, direct crypto purchases cost 4% across all available methods. If you intend to use a credit card, note that you may pay extra as your provider may also charge you.
At the time of writing, monthly trade volumes under $1000 do not attract trading fees. Monthly trade volumes between $1,000 and $10,000 attract a 0.30%-0.40% trading fee, and the fee decreases with increased volume until a floor of 0.03% for trade volumes above $1 billion. Read our Bitstamp review here.
Regulated by the CSSF
Implements military-grade security
Low minimum deposit requirement
Transparent fee schedule
High trade fees for smaller amounts
Payment methods usually unavailable in remote countries
Dedicated trading terminal
Fast execution speed
OKX is a one-stop shop for crypto traders and investors, as well as web3 explorers and enthusiasts. It features several types of crypto markets, a simple and free conversion service, several crypto derivatives, and a portal to explore web3.
However, it does not have a cash deposit option. You cannot deposit cash into your account, you can only buy crypto using one of the supported payment methods which include credit cards, third-party on-ramps like Banxa, and the p2p marketplace.
The card option lets you use services like Apple Pay, however, there are transaction limits. For example, when buying crypto in GBP, you are limited to a minimum value of £9 and a maximum of £4,148.
For USD, it is between $10 and $5,000, while for EUR, the range is €10 to €4,638. Note that your credit card provider may charge transaction fees.
Once you buy crypto, you can swap between 300+ other coins for free with the Simple Convert feature or trade at a rate between 0.06% and 0.10%.
Read our OKX review here.
Support for up to 30 fiat currencies
24/7 customer support
Large selection of cryptos on the spot market
Unavailable to US residents
Only supports credit cards as the official method of payment
Supports over 300 cryptos
Clean, new-age UI
Robust derivative selection
OTC trading desk
Coinbase is a great fiat-crypto onramp because of its simplicity. It is often a starting point for new crypto voyagers in the 100+ countries that it operates. Asides from being easy to use, the exchange provides FDIC insurance of up to $250,000 on crypto deposits per account.
We must admit that with Coinbase, payments are more straightforward if you live in Canada, Singapore, Europe, the UK, or the US. This is because the payment methods for these regions are clearly laid out in the exchange’s FAQ section.
When it comes to funding transactions, you can either buy and sell crypto directly with your payment method (e.g., a bank account), or deposit and withdraw cash from your account.
Canadian users can use bank transfers and PayPal to buy and sell crypto, respectively. They cannot deposit or withdraw money. Singaporean users can only use credit/debit cards to buy and sell crypto.
European users can use Sepa Payments to add and withdraw cash from their accounts, 3D secure cards to buy crypto instantly, Instant cards to cash out immediately, Sofort to add cash within 8 business days, PayPal to cash out instantly, and Google and Apple Pay to buy crypto instantly.
Users in the UK can use bank transfers to add cash to their accounts, Faster Payments to deposit and withdraw large cash amounts, 3D Secure cards to withdraw money from their accounts, and PayPal to withdraw funds instantly.
US users can use ACH payments to buy crypto and add or withdraw cash from their accounts, instant bank withdrawals to withdraw small amounts, debit cards to buy crypto and withdraw cash, wire transfers to deposit and withdraw large amounts, PayPal to buy crypto and withdraw small amounts, and Apple and Google Pay to buy small amounts of crypto.
Once your account has been funded or you have bought crypto, you can convert between the 193+ cryptos that Coinbase supports at a 1% conversion fee.
To learn more, read our full Coinbase review here.
100+ countries supported
Supports popular payments methods, including mobile
Low minimum deposit requirements
Payment methods not friendly to remote countries
High trading fees compared to competitors
Crypto-backed debit card
Bitpanda is a European exchange that offers a traditional approach to crypto investing by allowing users to manage their cryptos as a portfolio and diversify into other asset types like commodities and stocks.
Deposit methods available depend on the currency being used. The supported currencies are the Euro (EUR), US dollar (USD), Swiss franc (CHF), British pound (GBP), Turkish lira (TRY), Polish zloty (PLN), Danish krone (DKK), Swedish krona (SEK), Hungarian forint (HUF), and the Czech koruna (CZK).
We’ll cover GBP deposits and withdrawal limits.
Funding methods include Sepa transfers, Skrill, Neteller, bank transfers, Rapid transfers, and credit cards. Skrill/Neteller transfers are subject to a daily deposit limit of £8,948 and a withdrawal limit of £89,948. Every week, the deposit limit is £268,442 while the withdrawal limit is £1.7 million. Overall, you can deposit and withdraw a lifetime value of roughly £8.9 million using this method.
Credit cards are limited to £2,237 a day and do not support withdrawals, while bank transfers are limited to a daily deposit limit of £447,404 and a withdrawal limit of £4.4 million. Visit Bitpanda’s website for more information on payment methods and limits.
With over 170 cryptocurrencies on the exchange, you’ll have options to choose from and swap at a 2% direct conversion fee.
Note that the minimum deposit is €25 while the minimum trade value is €1 or its equivalent in your chosen currency.
Read our comprehensive Bitpanda review.
Low minimum deposit and withdrawal requirement (€25 )
Highly secure and regulated
Simple, easy-to-use platform
High deposit and withdrawal limits
Conversion fee applied to non-EUR deposits
Withdrawal is via bank account only
Support limited to European currencies
Innovative crypto indices
Portfolio management features
Uphold is another multi-asset exchange that adopts a portfolio-centred method to manage cryptocurrency investments. The exchange’s fiat onramp as well as its other features place it on our list of top exchanges.
Buying cryptos or making deposits to Uphold is straightforward as the exchange supports only three payment methods: bank transfers, mobile payments (Google and Apple), and credit cards. You can either buy cryptos directly or deposit cash to your account balance.
You can deposit cash using your bank account, however, it must be either a US, EU, or UK account. You can buy cryptos directly using a credit card, Google Pay, or Apple Pay.
For withdrawals, the only option available is a bank account which must fulfil the criteria listed above.
Once you get some cash into your Uphold account, you can convert between 250+ cryptos at a fee of 0.8% - 1.2% for Bitcoin and Ethereum.
Read our full Uphold review.
Simple deposit methods
Secure and registered
Wallet features for long-term storage
Limited to US, UK, and EU users
Limited withdrawal options
Bank transfers only work for US, UK, and Europe
Fees are high compared to competitors
One-click trade between any two coins
Automated trading facilities
YouHodler presents a holistic approach to crypto management by offering investing, lending and staking services, and a fiat onramp.
You can either top up your YouHodler account with cash or buy crypto directly using a supported method. For cash deposits, you can use bank wires, SWIFT transfers, Apple Pay, credit cards, and Adv Cash.
You can only withdraw cash from your account to either a bank account or your credit card.
Bank wires are usually free but require proof of address verification. The transaction also takes between 1-3 business days to complete. If you want a faster method, you can use a bank card which is instant but costs 1% and only works with EUR and USD.
Bank transfers also include SWIFT transfers which cost $25 (or £20) per deposit and can take up to 5 business days.
Apple Pay is another quick method that costs 1%, however, it is only available to users in the EU, only works with EUR and USD, and requires that dollar cards be issued in the Eurozone.
Meanwhile, AdvCash works with either a bank card or the AdvCash wallet. While both options are instant, however, deposits with credit cards cost 4.5% while those with the native wallet costs 1%.
Withdrawals work with bank transfers and credit cards. You can withdraw cash to your bank account at a 1.5% fee at a minimum of $70. This means that the amount you withdraw has to be large enough that the minimum fee is $70.
Other withdrawal fees include €55 for SWIFT, €5 for Sepa, and 0.15% for GBP and CHF (£55, ₣55 minimums).
For credit cards, the fee is between 3% - 3.5% or $1 - $5.
Read our full Youhodler review.
Free bank deposits
Supports mobile payment via Apple Pay
Steep fees for SWIFT transfers
Limited currency support
Wallet for long-term storage
A Fiat-to-Crypto exchange is an exchange that specialises in converting fiat currency into cryptocurrencies. Fiat currency here refers to legal tender i.e. USD, GBP, EUR, and other legal currencies used in various countries.
These exchanges can also offer crypto-to-crypto exchanges, like the ones on our list, or act solely as an on-ramp service. Usually, they support one or more traditional forms of payment like bank transfers, credit card payments, or electronic money services like PayPal.
Fiat-to-crypto exchanges store cryptocurrencies in their vaults and then sell them to users. In many ways, they act like brokers with processes that are pretty straightforward in most cases.
The exchange either buys cryptocurrency, stores them, and then sells it to users upon request or routes them directly to counterparties who can. Either way, the exchange has the facility to receive payments.
You create an account with them which usually comes with a good crypto wallet and fiat wallet that can receive any number of fiat currencies, based on the exchange. When you’re ready to buy some crypto, you send funds to your fiat wallet using one of the exchange’s supported payment methods.
Afterwards, you should be able to convert your cash to crypto, usually using a Convert feature. Alternatively, you can buy crypto directly without having to first deposit cash.
Security is always the first consideration where crypto is concerned. The platform you choose should comply with the latest industry security standards. In this case, an ISO certification should suffice.
Also, look out for two-factor authentication (2FA). This is a second line of defence that protects your account if an intruder gets a hold of your password.
The supported payments are probably the next most important factor to consider when choosing a fiat-to-crypto exchange. Because you will use it periodically, you need to choose a method that is cheap and easily accessed.
Payment methods like bank cards are usually widely accepted but are usually the most expensive. Local bank transfers are accepted for major regions like the US or UK, but cannot be depended upon for remote countries.
Whichever method you choose, ensure it is continuously accessible, cheap, and legal in your location.
When choosing a fiat-to-crypto exchange, ensure it supports several currencies to avoid having to jump between multiple exchanges or send coins between wallets.
Global exchanges usually have wider coin selections but less local-friendly options while regional/local exchanges have friendlier deposit options but smaller coin selections.
The trick would be to balance both by finding an exchange whose funding method is acceptable with a wide enough coin selection.
Your choice must be well-regulated in your region. Governments have legal say over which entities are allowed to use their currencies, especially within their territories.
If you intend to make deposits from a foreign currency account, ensure that the exchange is legally allowed to do business in the currency’s originating country, just in case your transfer is routed through domestic banks.
Navigate to the eToro website and click on Start investing. Fill out the form with your full name, email address, and password.
Verify your account by submitting KYC documents like proof of ID (National ID or driver’s licence) and proof of residency (utility bill). Then, finish setting up your profile.
Once your account has been verified, click on Deposit funds on the left pane of the page. The deposit options available will be displayed. Choose one and set the amount you’d like to deposit. The minimum is $10.
Once your account is funded, search for any crypto in the Discover tab. An interface like the one below should load. You can carry out your analysis on the chart or use external charting software. Set your parameters, like a buy or sell price and set your order.
We explored the best fiat-to-crypto exchanges around and chose eToro as our overall best because of its free deposit and withdrawal facility, multiple deposit methods, and worldwide availability thanks to its large user base.
Nonetheless, we understand that other exchanges have features that may appeal more to certain readers, so we made sure all the ones on our list are good and proven.
Ensure to always be security conscious when using exchanges, and to always pick one with a payment method that works for you, especially if you plan on making recurring purchases.
To begin buying crypto with our top choice, visit the eToro website and sign up.
The platforms covered in this guide were chosen through rigorous testing, research, and reviews. We paid attention to security, transparency, reputation, funding fees, deposit and withdrawal methods, and coin selection.
The platforms listed are the best we found in the various categories we listed them. For example, we found that Binance supports the highest number of fiat currencies, so we named it the best option for multi-currency support.
Check out our why trust us and how we test pages for more information on our testing process.
Fiat currency is government currency. It is the legal tender that is known as currency like the US dollar, British pound, and Japanese yen. It is issued by the government of a nation and is used to measure and exchange value within that jurisdiction.
Conversion fees depend on the exchange being used as well as the payment provider.
This depends on the payment method used. If you send funds through SWIFT, the transaction could take days. However, it is instant if you use a credit card.
Usually through a local bank transfer with an exchange that charges minimal fees. Alternatively, you can use a p2p marketplace, like the one on Binance.
If the exchange adheres to industry standards, then it is generally secure, which is why you must always be security-conscious when choosing an exchange.
In many ways, you can. Several exchanges offer crypto-fiat pairs like BTC-USD to trade.