How To Buy Bitcoin With A Credit Card

Kevin Groves
Posted by: Kevin GrovesUpdated Nov 16th, 2023

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Using a credit or debit card to buy Bitcoin is a simple, safe, and fast method for people who don't have the option of a bank transfer due to local regulations. Or, just want to buy Bitcoins instantly with a bank card. This guide explores the ins and outs of how to buy Bitcoin with a credit card, and which exchanges support the payment method (with the lowest fees).

Quick Guide: How To Buy Crypto With A Credit Card

Here are the five steps to follow to buy Bitcoin with a credit or debit card:

  1. Compare and select an exchange
  2. Create an account with the crypto exchange
  3. Fund the account with a credit card
  4. Select Bitcoin or another crypto from the asset list
  5. Buy Bitcoin (BTC) with the linked card

Can You Buy Bitcoin With Credit Card?

Yes, it is possible to buy Bitcoin with a credit card. However, it depends on the crypto exchange and credit card provider being used. Some cryptocurrency exchanges allow investors to purchase Bitcoins with a credit card, while others restrict or discourage them with high fees, as some platforms charge as high as 8% for a credit card transaction.

The other consideration is finding a banking institution that accepts credit card transactions to acquire Bitcoin can be tricky. Not all banks allow it depending on the country. There are a few select third-party providers such as Simplex that integrate with cryptocurrency exchanges to accept credit card payments.

Where To Buy Bitcoin With A Credit Card

Here is our summary of the top Bitcoin & cryptocurrency websites that offer credit card/debit card purchases. For in-depth coverage and the pros and cons of each exchange, click on the exchange review links below.

  1. Binance. Overall best place to buy Bitcoin with a credit card
  2. Kraken. High Liquidity Exchange that accepts credit cards
  3. eToro. Buy Bitcoin with a credit card with low fees
  4. Coinbase. A user-friendly platform for buying crypto with cards
  5. CEX.IO. Secure platform for credit card payments
ExchangeCrypto AssetsCredit Card FeesKYC RequiredLimits
Binance6003.5%YesUnlimited
Kraken 250+3.75%Yes$10 minimum
eToro90+FreeYes$10 to $40,000
Coinbase240+3.49%Yes$20 to $50 minimum
CEX.IO145+2.99% to 3.99%Yes$20 minimum

1. Binance

Binance is the largest digital currency exchange service in the world, according to CoinMarketCap, which provides a platform for trading more than 600 different cryptocurrencies. The platform has seen a meteoric rise since it was founded in 2017. Binance accepts VISA card Bitcoin transactions using 30+ local fiat currencies such as the USD, GBP, and the Euro.

Credit card transactions are faster, but the associated fees are usually higher than bank transfers and other popular payment methods. Binance charges around 3.5% per card transaction, and there may be additional fees from the bank or credit card provider. There does not appear to be a minimum payment limit using a credit card on Binance.

Users must complete the know-your-customer (KYC) process to access this payment option. Binance may request additional verification before credit cards are successfully linked to customers’ accounts. Credit card purchases for crypto are available on the global Binance platform. But credit card payments are not supported on the exchange’s American subsidiary – Binance.US.

To buy Bitcoin with a credit card on Binance, follow these steps:

  1. Log in to a verified account
  2. Open the fiat gateway to make a purchase
  3. Select the fiat currency to pay with and enter the amount
  4. Select a payment service provider and choose a credit card
  5. Confirm the transaction and wait for the cryptocurrency to be received

Read our full Binance review and claim $100 USDT with our Binance code.

2. Kraken

Kraken is a high liquidity exchange that supports over 200 crypto assets. The US-based cryptocurrency exchange was founded in 2011, making it one of the oldest digital asset exchanges today. While it started as a crypto trading hub, Kraken has evolved into a full-featured exchange with a variety of features (and payment methods).

To purchase crypto using credit cards on Kraken, the customer must be a verified Intermediate or Pro level user. Also, the details on the credit cards must match the customer's account information on Kraken. However, credit card payments are not available to customers in the US.

As for the costs, Kraken charges a 3.75% fee per credit/debit card transaction, while the minimum purchase amount in USD is $10. The exchange implements a 72-hour withdrawal limit on the user's first credit card purchase. This applies to fiat and crypto withdrawals.

Credit card purchases have a 7-day purchase limit, depending on the selected fiat currency. For instance, GBP deposits have a seven-day purchasing limit of £4,000 while USD deposits have a $5,000 weekly threshold.

To buy Bitcoin with a credit card on Kraken, follow these steps:

  1. Log in to a Kraken account
  2. Deposit funds by selecting a credit/debit card option
  3. Enter the amount to spend with a card
  4. Browse the supported assets and buy bitcoin

Read our full Kraken review.

3. eToro

eToro is a social trading and online brokerage that allows crypto traders and investors to buy, sell, and store Bitcoin and other cryptocurrencies. The exchange was founded in 2007, making it one of the oldest names in cryptocurrency. Like Binance, eToro is a centralized crypto trading platform that offers crypto traders and investors access to 90+ cryptocurrencies, including popular options like Bitcoin and Ethereum.

eToro accepts credit cards powered by Visa, MasterCard, and Maestro. To initiate credit card payments, the customer details on the card must match the information provided on the registered eToro account. Credit card transactions on eToro are completed within minutes. This is quicker than other options like bank transfers that require days.

The minimum card deposit is $50 for US residents and $50 for residents of the US and those who want to buy crypto with a credit card in Australia. For maximum deposit limits, eToro imposes a $40,000 threshold. However, new users must verify their account by submitting a copy of their driver’s license or official passport to access this payment method. A bank statement or recent utility bill must also be uploaded as proof of address.

Credit card deposits are free on eToro. However, there’s a $5 fee per credit card withdrawal, and the minimum withdrawal amount is $30. There’s also a conversion fee of 0.1% for deposits made in currencies other than the US dollar. Credit card crypto purchases are available worldwide for all eToro-supported regions.

To buy Bitcoin with a credit card on eToro, follow these steps:

  1. Log into the account
  2. Open the deposit box to add funds to the eToro account
  3. Select 'credit card' and choose fiat currency
  4. Enter the card details and amount
  5. Buy Bitcoin once the card payment is completed

Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. [website domain name] is not an affiliate and may be compensated if you access certain products or services offered by the MSB.

Read our full eToro review.

4. Coinbase

Coinbase is one of the best exchanges to buy Bitcoin with a credit card as it supports multiple fiat currencies to an account. However, the credit card deposit feature is not available for US customers. Only traders based in the UK and other EU countries can buy Bitcoin with a credit card on Coinbase. Initiating cash advance payments on Coinbase is simple once the credit card is linked to the platform.

The minimum card deposit on Coinbase ranges from $25 to $50, depending on the user’s location. The account level of the user largely determines Coinbase deposit limits. The exchange charges about 3.49% per credit card transaction. To ensure a successful transaction, traders must ensure that their credit cards support “3D Secure” to be accepted by Coinbase.

To buy Bitcoin with a credit card on Coinbase, follow these steps:

  1. Log in to Coinbase with a verified email address
  2. Link the account to a 3D Secure Card
  3. Fund the wallet by selecting card payments and entering an amount
  4. Select Bitcoin or another crypto and complete the purchase

Read our full Coinbase review.

5. CEX.IO

CEX.IO is a regulated cryptocurrency exchange with millions of customers worldwide. The exchange allows users to buy, sell, trade, and invest in cryptocurrencies easily and securely in one place. The platform supports over 146 cryptocurrencies, including Bitcoin and altcoins like Ethereum, Litecoin, and Bitcoin Cash. On CEX.IO, investors can buy Bitcoin and other cryptocurrencies using various payment methods, including credit cards.

To use a VISA or Mastercard to buy crypto, individuals must undergo the mandatory KYC/AML procedure. Once completed, the user can choose a credit card as a payment method. It should be noted that CEX.IO limits its credit card deposits to specific regions which include the US, UK, and Russia.

The minimum card purchase on CEX.IO is $20, which makes it easy for first-time investors to buy Bitcoin. However, there is a deposit commission between 2.99% to 3.99% and an additional service charge that will be added to the transaction. We could not verify the deposit fees.

To buy Bitcoin with a credit card on CEX.IO, follow these steps:

  1. Log in to CEX.io with a valid email
  2. Link a credit card to the account and enter card details
  3. Select card payments, enter the amount, and deposit funds
  4. Choose the crypto, enter the fiat currency and amount to spend
  5. Once the deposit is complete, select Bitcoin and click 'buy'

Read our full CEX.IO review.

Advantages of Buying Bitcoin with Credit Card

  • Instant transactions. Credit card payment offers instant processing on exchanges. The transaction speed is a significant advantage because it helps investors mitigate the risk of losing money due to market volatility and price swings during the transaction timeline.
  • Security. Buying Bitcoin with a credit card is secure because credit card companies offer fraud protection. Credit cards are not connected to the customer's bank account. In the event of theft, the card issuer's funds would come into harm's way, not the customer's. On the other hand, a debit card links directly to a checking account.
  • Convenience. Credit card transactions only require the card information and the transaction will be completed. Bank transfers are more tedious, as they require additional information like routing numbers, account numbers, and bank details. Moreover, credit card transactions can be performed using a mobile app or wallet.

Disadvantages of Buying Bitcoin with Credit Card

  • Volatility. Investing in cryptocurrencies can be risky. Coin prices fluctuate from time to time, so borrowing money with a credit card to purchase or invest in Bitcoin can result in losses if the market drops. Credit card payments not only increase the investor’s debt but could also affect their credit score.
  • High fees. Credit card purchases usually come with high fees because of the additional charges, transaction fees, cash advance fees, and interests that accrue over time.

How To Buy Bitcoin Using A Credit Card - Full Tutorial

1. Compare and select an exchange

The first step to buying Bitcoin is to find a cryptocurrency exchange that supports card payments. The options above are good examples to consider. It is important to check the fees associated with credit card and debit card payments. There can also be foreign conversion fees. For this example, we will show the process of using a credit card on Binance Exchange.

2. Create an account with the crypto exchange

Visit the Binance website and click the ‘Register Now’ icon to access the registration portal. Select ‘Create a Personal Account’ to register for an individualized trading account. Provide a valid email address and a strong password. Tap ‘Next,' and enter a valid mobile number to verify a mobile phone line and email address.

All crypto trading exchanges, including Binance, require all customers to provide know-your-customer (KYC) information as an additional verification process to access the platform’s full features.

Create an account with the exchangeCreate an account with the exchange

3. Fund the account with a credit card

To fund an account, visit the Binance deposit page to purchase Bitcoin and other crypto assets. Traders should select ‘credit card’ as their preferred payment method. Then, click on the ‘Deposit’ button, type in how much Bitcoin to buy, and click ‘Deposit’.

Choose credit card paymentChoose credit card payment

4. Select Bitcoin from the asset list

After making a payment in USD or any fiat of their choice, investors should navigate to the search bar located at the top of the screen and enter ‘BTC.’ When Bitcoin (BTC) appears below the search bar, click on the ‘Buy BTC’ button.

5. Buy Bitcoin (BTC)

Place an order to buy Bitcoin instantly with a credit card. For this part of the process, type the total purchase amount and click on 'submit'. Once an order is placed, Binance will instantly process and complete the trade, and Bitcoins will be added to customers' wallet addresses.

complete credit card purchasecomplete credit card purchase

Frequently Asked Questions

Yes, cryptocurrency exchanges like Binance, Coinbase, and eToro allow users to add credit cards as payment methods. Once the card is linked, the investor can buy Bitcoin and other cryptocurrencies using their credit card.

Using a credit card to obtain Bitcoin from a cryptocurrency exchange is near instant. Once the cardholder information has been entered, the Bitcoin purchase will be completed instantly and the asset is sent to the user's exchange wallet immediately.

Both cryptocurrency credit cards and traditional credit cards can be used for Bitcoin purchases. Usually, the cards are powered by Visa, MasterCard, and Maestro.

Yes, users can add funds to their crypto wallets using a credit or debit card. Usually, this requires connecting the card to the Bitcoin wallet provider or exchange and making a purchase afterward.

Investors can cash out of their Bitcoins to a credit/debit card using a cryptocurrency exchange such as CEX.IO. The platform allows its users to instantly sell Bitcoin and withdraw fiat to a credit or debit card to spend like a normal bank card.

Generally yes, most financial institutions mandate that individuals must be over the age of 18 years old to apply for a credit card. This means they will not be able to obtain credit for the purposes of buying Bitcoin. For a list of alternate ways to buy Bitcoin as an underage, read this article.

Conclusion

Buying with a credit card or debit card is one of the easiest and safest ways to acquire Bitcoin instantly. The benefits of using a bank card allow investors all over the world the opportunity to buy digital currencies without using a traditional ACH bank transfer which can take several business days to complete.

Related: How to buy Bitcoin with ACH.

Users that want to buy Bitcoin should begin by comparing and assessing the fees and features of cryptocurrency trading exchanges that offer credit/debit card payment methods. An alternative method to acquire Bitcoin is to use a prepaid card that does not go through a bank. For more information, read this article which explains how to buy Bitcoin with a prepaid card

Kevin GrovesKevin GrovesKevin Groves

Kevin started in the cryptocurrency space in 2016 and began investing in Bitcoin before exclusively trading digital currencies on various brokers, exchanges and trading platforms. He started HedgewithCrypto to publish informative guides about Bitcoin and share his experiences with using a variety of crypto exchanges around the world.

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