How to Buy Crypto With Credit Card in 2024

How to Buy Crypto With a Credit Card

If you’re looking for a simple way to buy crypto with a credit card, all you need to do is sign up with a crypto exchange. You can access it online with a computer, smartphone, or tablet to quickly buy and sell a range of cryptocurrencies. The best platforms are listed below as well as a quick step-by-step guide to buy cryptocurrency with a credit card.

1. Choose a Platform

Hit the “Sign Up” button on the platform website and fill in the details requested on the registration form that follows. You will also need to scan your photo ID and proof of address to complete your KYC. The best platform to use is a regulated one, such as our top recommendations below.

2. Make a Deposit Using a Credit Card

Once your account has been verified, you can fund it by heading to the deposit page on your platform. There will be a list of payment options that are available, from which you can select a credit card. Now you can simply enter the amount you wish to transfer and hit the “Deposit” button.

3. Buy Cryptocurrency

Find the trading pair for your local currency and the cryptocurrency you wish to purchase. You might have to complete another crypto purchase first, such as BTC or USDT, if there isn’t a relevant trading pair for your desired cryptocurrency. Type in the amount you want and hit the “Buy” button.

Where to Buy Crypto with Credit Card?

As credit cards are widely accepted by crypto exchanges, there are plenty of places you can use them to purchase crypto. To help you narrow them down here is some information about three of the best and safest crypto exchange platforms that accept credit cards.

1. eToro

With an ever-growing list of 60+ cryptocurrencies to trade, eToro is our top recommendation when it comes to where to purchase crypto with your credit card. It’s easy to discover trending and the hottest crypto to buy now, add them to your watchlist and stay on top of the market—you can even trade a range of traditional financial instruments at the same time.

The regulated platform is a secure place to trade with competitive platform fees, whether you’re a beginner making simple purchases or a pro using advanced trading tools. What really sets eToro apart from the competition is its social investing features, like the innovative CopyTrader that lets you replicate the actions of successful traders around the world. Read our full eToro review.

2. Coinbase

It’s easy to buy more than 150 cryptocurrencies with your credit card on Coinbase. The clear layout and intuitive navigation make it a great platform for beginners for their cryptocurrency purchases, while more experienced traders can switch to Coinbase Pro to access customizable charts, crypto prices and indicators.

There is a wealth of educational resources for expanding your crypto knowledge and regular learn-and-earn campaigns where you can pick up free crypto and digital assets. The recurring buys feature makes regular crypto and Bitcoin purchases simple and there is even an NFT marketplace. Read our full Coinbase review.

3. Binance

You can buy Bitcoin and over 600 cryptocurrencies with your credit card on Binance, making it the top place to discover new, obscure, and best altcoins. There are advanced spot trading tools, as well as margin and derivatives trading, while less experienced users can use the convert feature to make simple swaps.

There is a plethora of earning products, such as staking and crypto savings accounts, to help you grow your crypto once you’ve got some crypto after a few credit card purchases. Other exciting features include fan token trading, an NFT marketplace, and a Launchpad for new tokens. Read our full Binance review.

Pros & Cons of Buying Cryptocurrency with Credit Card

If you’re still undecided about whether to use your credit card for buying crypto, here are some pros and cons to help you make up your mind.

Pros

• Acceptance. Credit cards are a widely accepted payment method, meaning you’ll have plenty of choice of crypto platforms to use.
• Convenience. If you’re already using your credit card for other purchases, it’s a quick and simple way of buying crypto, and if you save your credit card details on your platform, you can complete your crypto purchases in a few clicks.
• Spread the cost. There’s no need to pay up straight away when you use your credit card—you can wait until payday or even pay off large purchases in installments.
• Secure. Credit cards provide an extra layer of security as they aren’t linked to your bank account. They also come with extras from the credit card issuers or credit card companies such as purchase protection and a zero liability policy to protect you from fraudulent payments.
• Rewards. Credit card companies often reward their customers with loyalty points or cashback on purchases made using their credit cards.

Cons

• Fees. The fee for buying crypto with a credit card may be higher than for other payment methods such as bank transfers. There are also interest payments and other charges from your card provider to consider.
• Getting into debt. You borrow money when you use your credit card, and if you’re unable to pay it back with interest, you could find yourself in debt and facing higher interest rates.

Fees When Buying Crypto with a Credit Card

Some crypto exchanges charge deposit fees and these can be higher for credit cards than other payment methods. There may be other charges when you make crypto transactions with a credit card payment, such as blockchain transaction fees, spread, commission, or trading fees.

Is Buying Cryptocurrency with a Credit Card Right for Me?

While the fees may be higher and there is a risk of debt with cash advance penalties by the credit card issuer, if you use your credit card responsibly, it can be a very convenient way of purchasing cryptocurrency, due to its speed, security, and almost universal acceptance.