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A Step-by-Step Guide On How to Buy Cryptocurrency With Credit Cards

If you are a crypto user who want to buy bitcoin with a credit card then you should read our “how to buy crypto with credit cards” guide where we have explained each and everything step-by-step.

Kiran Gohar



buy crypto with a credit card

Cryptocurrencies are popular decentralized trading instruments. Today cryptocurrency market has become a trillion-dollar industry with its fair share of ups and downs. Crypto investors and trading platforms continue to grow across the globe. Many financial institutions and private banks already offer cryptocurrency services on account of consumer demand. Crypto credit card buy options are one of these services. This article answers all questions about how to buy crypto with a credit card.

Trading Cryptocurrencies

Most people use centralized or regulated cryptocurrency exchanges for crypto trading. There are also DEXs or decentralized exchanges where investors can access digital assets. Once an investor has made an account on a crypto exchange, they can get started by purchasing crypto.

Also Read: Crypto Trading Guide 2023 – What is Cryptocurrency Trading And What Are Its Benefits?

There are a variety of methods that investors can use to buy cryptocurrencies. Some of the most common options are listed as under:

Crypto Payment Options

It is important to keep in mind that options for crypto payments vary across different crypto exchanges. Therefore, you should read the user info section of the exchange to learn about available crypto payment methods. Here are some of the most common methods across the board:

Bank Wires

Third-Party Payment Applications

External Wallets

Debit Card Payments

Credit Card Payments

  • Bank Wires 

Cryptocurrency exchanges that have partnered with local banks allow bank wire options for purchasing listed currencies. There are some countries where the Central Bank has directed regional banks to ban crypto payments. You can confirm with local authorities to check which banking options are open in your region. Crypto exchanges such as Binance, ByBit, KuCoin, and also offer peer-to-peer crypto trades using bank wire options. 

  • Third-Party Payment Applications

Third-party payment applications like Google Pay, Apple Pay, Paypal, and WhatsApp Payments have gained popularity recently. Many cryptocurrency exchanges partner with various third-party payment applications. Crypto investors can connect their third-party accounts with crypto exchanges to purchase cryptocurrencies. 

  • External Wallets

External wallets are another way for cryptocurrency investors to deposit cryptocurrencies in their crypto exchange accounts. This method is not a direct payment. Users can link hard wallet accounts or other existing digital wallet addresses to their crypto exchange wallets. You may deposit funds in your digital wallet account and swap them with other cryptocurrencies listed on the exchange. 

  • Debit Card Payments

Debit cards are payment instruments issued by banks for purchases using available account funds. A vast number of cryptocurrency exchanges partner with local banks to offer debit card crypto payments. There are no interest or cash advance fees involved with debit card payments.

  • Credit Card Payments

Credit cards are also cashless payment instruments issued by banks. However, credit card holders can make purchases with borrowed funds or money. Usually, credit card holders can make transactions across local and international crypto trading forums. 

How to buy crypto with a Credit Card?

Credit cards have been around since the 1950s. At present, just about all banks in the world offer their consumers with credit card payment options. When it comes to purchasing cryptocurrencies using credit cards, there are several factors that you should take into consideration. If you are planning to start trading cryptocurrencies, verify the following aspects before signing up:

Buy crypto with a credit card
  • Check with the relevant financial regulators in your country if banks are allowed to process transactions on cryptocurrency exchanges. 
  • Confirm with the cryptocurrency exchange platform if credit card payment services for your bank are listed there or not.
  • Talk to the customer services representative of your bank to check your credit score. You may only make crypto purchases if your credit score is out of the red zone and your previous credit bills are not outstanding.
  • Calculate the interest rate, cash advance fees, and other costs that are levied on credit card payments for your crypto haul. The total cost of a crypto purchase can make a considerable impact on the total realized profits of crypto trades.

Types of Credit Card Fees for Crypto Investors

Every cryptocurrency investor should know about the following credit card fees that are tethered to purchasing cryptocurrencies using them. Not all cryptocurrencies ingrain these charges, but the users can read the policy charter or talk to an exchange representative to confirm which costs are levied on the platform. 

Cash Advance Fees

Annual Percentage Rate (APR)

Lower Credit Limit

Rewards and Bonus Points

No Grace Period

Transaction Fees 

Foreign Transaction Fees

  • Cash Advance Fees

The cash advance fee is the cost of borrowing cash from your bank or credit card issuer. Usually, lenders issue cash advances at a 3% to 5% fee. Depending on the credit card issuers, cryptocurrency purchases can be classified as cash advance purchases.

However, for a cryptocurrency cash advance, credit card issuers usually levy around 5% to 10% fees. It means that if you take a $100 cash advance for a crypto purchase on their credit card, you have to pay an additional $10 cash advance fee. 

  • Annual Percentage Rate (APR):

Annual Percentage Rate or APR is the amount of interest accrued on the total credit borrowed by a credit card holder. APR is the same as a cash advance fee, but it compounds after a year.

Additionally, it has a floating interest rate that keeps changing as per market conditions. APR is applied on all cash advance fees and becomes active on the first day of the purchase. This interest continues to accrue until the credit is fully paid. The average APR is around 19%-25%. 

  • Lower Credit Limit

Most credit cards come with a lower credit limit, which is the minimum amount that a credit card holder may borrow. Crypto investors using High-Frequency Trading (HFTs), scalping, or day trading may not be able to make big crypto purchases on account of credit limits on cash advances. 

  • Rewards and Bonus Points

Most credit card issuers incentivize their users to make more purchases by awarding those using rewards and bonus points. These rewards and bonuses are used to make more purchases or as discounts. However, cryptocurrency investors usually don’t qualify for any bonuses or rewards that they may earn at other e-commerce stores as welcome bonuses or sales promos, etc. 

  • No Grace Period

Credit cards have a 21-day grace period where consumers can pay off the borrowed amount without any additional interest. However, if a cryptocurrency payment is classified as a cash advance on a cryptocurrency exchange, it means that there is no grace period, and interest will start to accrue from day 1 of the purchase.

  • Transaction Fees

Every cryptocurrency exchange charges a small percentage on all transactions, such as sales and purchases on their platforms. However, some exchange forums may charge an additional fee on credit card payments of cryptocurrencies that is higher than other forms of payments such as bank transfers, etc.  

  • Foreign Transaction Fees

Crypto exchange account holders can perform cross-border crypto purchases using credit cards. In this case, the users have to pay foreign transaction fees as high as 3%. 

Steps To Follow to buy Bitcoin with a Credit Card

You can purchase cryptocurrencies using a credit card if your bank and crypto exchange allows it. Most cryptocurrency exchanges offer a comprehensive guide on how to make credit card purchases on their platforms.

At the same time, the users can talk to the CS representatives of a crypto exchange to get a list of eligible banks and credit card issuers at their forum. Here is a step-by-step guide for anyone who wants to buy crypto with a credit card:

buy bitcoin with a credit card
  • Create an account with the required cryptocurrency exchange and complete the KYC or other verification process. 
  • Get your credit card ready and confirm your credit score and credit limit beforehand.
  • Check that your credit card service is acceptable with your crypto exchange account and vice versa.
  • Navigate to the crypto purchase options in your crypto exchange account, select the required amount, and select the credit card payment option.
  • Enter your credit card credentials, such as card number, expiration date, and CVV/CVC digits.
  • Complete the OTP instructions or enter the confirmation code to verify the transaction and enter into the crypto exchange account to complete the purchase. 
  • You can recheck the payment details, such as total cost, crypto amount, and type, before confirming the payment. 

How to buy crypto with a credit card without verification?

It is possible to purchase cryptocurrencies using credit cards without verification using these four methods:

Bitcoin ATMs

P2P Trades

Wallet Exchanges

DEX Platforms

  • Bitcoin ATMs

Bitcoin ATMs are one of the most reliable and fastest ways to purchase cryptocurrencies using credit cards. Users can create a new account on a Bitcoin ATM to hold their crypto purchases and later transfer their crypto reserves to other wallets. 

  • P2P Trades

Crypto exchanges that allow other cryptocurrency investors to register as merchants may offer verification-free crypto payments. Rather than using centralized authentication, these platforms use decentralized escrow accounts to ensure confirmation of crypto trade contracts between two users in exchange for a small fee. 

  • Wallet Exchanges

There are various cryptocurrency custodial services providers that do not require any type of verification process for signing up. Some of the most popular verification-less crypto wallets are ShapeShift, BitQuick, Lobstr, Coinmama, Paybis, Coingate,, DameCoins, and Paxful among others. 

  • DEX Platforms

DEX platforms such as Uniswap and CurveFinance allow crypto investors to purchase cryptocurrencies using fiat reserve via credit cards. DEXs either have minimal KYC or no account verification requirements.  

List of Crypto Exchanges that allow credit card payments in 2023

  • Binance 
  • Coinbase (New credit card payments are revoked for now at Coinbase)
  • EToro
  • Huobi
  • Kraken (for Non-US clients only)
  • OKX
  • ZenGo

List of Crypto Exchanges that does not allow credit card payments in 2023:

  • BlockFi
  • Gemini 
  • Kraken ( Only for account holders in the USA)

List of Credit Cards that allow Cryptocurrency purchases in 2023

  • American Express
  • Royal Bank of Scotland
  • SoFi and Ally Bank
  • VISA
  • MasterCard
  • Revolut
  • American Express

AMEX holders can make cryptocurrency purchases using exchange platforms that are certified by FINRA. Some of the cryptocurrency exchanges that have partnered with AMEX are eToro, Coinmama, Paxful,, Libertex, and, etc.

Royal Bank of Scotland

Royal Bank of Scotland and its subsidiary NatWest both allow credit and debit card cryptocurrency purchase support. It is one of the UK banking institutions that are crypto-friendly, such as Monzo, Nationwide, and TSB. Barclays is another English bank that offers cryptocurrency payments, but it has a history of canceling and reoffering cryptocurrency credit card services, such as the Coinbase contract that was canceled in 2019.

SoFi and Ally Bank

SoFi and Ally Bank started as neobank, meaning that they offered online banking services without brick-and-mortar offices. However, they turned into traditional banking enterprises. Both banks offer credit and debit card payment support for cryptocurrencies. 


VISA is one of the biggest credit card service providers in the world. Many banking institutions around the globe partner with VISA to offer credit card services. A barrage of cryptocurrency exchanges and DEXs allow VISA credit and debit card purchases. 


Mastercard is another global giant in the world of cashless payments. Much like VISA, financial institutions, banks, and third-party payment apps also use Mastercard to offer credit and debit card services. Various cryptocurrency exchanges offer crypto purchase support using Mastercard.


Revolut is a neobank hailing from the UK with crypto purchases. Only consumers hailing from the USA, Lithuania, Ireland, and Poland of Revolut can apply for a credit card. Revolut allows credit card purchases without foreign exchange fees on weekdays. Crypto payments with various fiat currencies, such as the Euro and USD, are an added advantage of Revolut. 

Why should you use Credit Card to buy crypto?

There are many ways to purchase cryptocurrencies. However, using a credit card to buy cryptocurrency can be beneficial. Here are some of the advantages of purchasing cryptocurrencies using a credit card:

  • Low Balance Payments
  • Fast Transaction Settlements
  • Beginner-Friendly
  • Staking Rewards

Low Balance Payments: The crypto market is all about sharp price changes at a frequent pace compared to traditional trading instruments like stocks. Therefore, investors may need to make instant purchases to take advantage of the meandering price movement. In these scenarios, Investors can make instant trades using credit card crypto purchases for low or zero bank account balances. 

Fast Transaction Settlements: Credit cards such as VISA and Mastercard have a TPS (transaction per second) rate of 24,000 and 5,000, respectively. Therefore, many crypto investors use credit cards when they want to ensure instant and secure crypto purchases.  

Beginner-Friendly: Just about every cryptocurrency investor who is venturing into the crypto market for the first time has to use fiat currency to buy digital currencies. Credit cards are one of the most secure and reliable ways to purchase cryptocurrencies using paper money. At the same time, they are also very easy to use, with a standardized operating procedure across various crypto exchanges. 

Staking Rewards: Some credit cards also offer rewards on cryptocurrency purchases. At the same time, the users have the option to break even or eliminate their cash advance fees or APR by staking their credit card cryptocurrency purchases. Crypto exchanges such as Binance offer as high as 20% Annual Percentage Yield or APY for staking crypto. 

Risks Associated with Cryptocurrency Trading

  • Credit Card Information
  • Credit Score
  • Interest Payments 

Credit Card Information: There are a host of cryptocurrency brokers and exchange platforms online. Therefore, crypto investors must be careful about choosing verified and reliable platforms only. In case they pick a shady forum with unknown origins and unreliable backgrounds, the user can face the threat of losing their credit card information to hackers and threat actors. 

Credit Score: Crypto trading is a skill that requires time and energy to learn. It is not ideal to keep purchasing more cryptocurrencies in hopes of making profits. Purchasing more crypto on a credit card can affect the credit score of the cardholder and increase their outstanding payables.

Ideally, investors can adopt Dollar-cost averaging (DCA) or make small investments to understand the market dynamics before jumping into bigger trading positions. However, most banks impose a maximum limit on credit cards for daily, weekly, and monthly purchase limits. 

Interest Payments: All credit card payments incur a higher cost of purchase. Crypto credit card payment can expose crypto investors to various types of aforementioned additional fees.

Frequently Asked Questions (FAQs)

  • Can you earn crypto rewards while using credit cards?

Some credit cards offer crypto rewards as part of their promotional offers. Depending on the crypto exchange platform, users may earn these crypto rewards in the form of cryptocurrencies. In other cases, the investors may trade their reward points to redeem cryptocurrencies after reaching the required balance. 

  • How to buy crypto anonymously with a credit card?

It is possible to purchase cryptocurrencies anonymously using credit cards. Crypto investors who wish to keep their transaction history private can opt for these options. Some cryptocurrency exchanges that allow anonymous credit card payments are Pionex, CoinSmart, Coinmama, Binance, Coingate, Swapzone, and, etc. 

  • How to pay credit card bills using crypto?

If your credit card service providers accept crypto payments, you can use your crypto balance to settle bills. There is also an option of investing in crypto gift cards from third-party websites using credit card payments. 

  • Can you buy crypto with credit cards on the Binance crypto exchange?

Binance offers several payment options to its large user base. One of these payment options is cred cards as well. It is one of the easiest ways to buy crypto on the Binance digital currency exchange.


Cryptocurrency investors can benefit from credit card payments by recognizing their pros and cons. Credit cards are a reliable, instant, and simple way of making crypto purchases. Investors should keep an eye on the accumulated fees of credit card purchases, credit scores, and credit limits. You can maximize trading revenue using credit card purchases during a bear market and for HFT trades, scalping, or day trading strategies.

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