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Buying crypto with a credit card is as easy as buying any other product, but there are some extra considerations to bear in mind compared to other methods. Some of the most common payment methods for acquiring crypto are bank transfers, debit cards, a payment processor (such as PayPal or Revolut) or trading another cryptocurrency you already own. Using a credit card may be more convenient for some users, but this method can incur extra fees, or be subject to limitations depending on the credit card provider.
Let’s take a closer look at how to buy crypto with a credit card, as well as some other methods commonly used to acquire cryptocurrency.
Common methods for buying crypto
Aside from buying crypto with a credit card, some alternative payment methods include bank transfers, debit cards, or a payment processor. Bank transfers are a common and cost-effective method for acquiring crypto. They generally offer low fees and high transfer limits, which makes them a great option for all kinds of purchases. Some banks may incur a delay as they move funds, but given their affordability, they are a popular and readily available payment method for buying crypto.
Buying crypto with a debit card is another fast and convenient option. Debit card transactions are also generally quick and cost-effective, not to mention easy to process, particularly if they are executed directly in a crypto exchange mobile app using Apple Pay or Google Pay. But sometimes, crypto exchanges and platforms impose transaction limits or require additional verification for security purposes before accepting a debit card payment.
Payment processors, such as PayPal or Revolut, provide another accessible option for acquiring cryptocurrency, particularly for users who already have an account. With as little as $1, users can buy, sell, and hold various cryptocurrencies, including Bitcoin, Ethereum, Litecoin, Solana and stablecoins. However, if fees are a concern, it can be more expensive to buy crypto through a payment processor compared to dedicated crypto exchanges.
Where can I buy crypto with a credit card?
The following exchanges can be used to buy crypto with a credit card:
Binance: Binance is a crypto exchange that allows users to buy crypto using VISA and Mastercard credit cards, as well as Apple Pay and Google Pay.
Kraken: Crypto exchange Kraken offers flexible payment methods to instantly buy cryptocurrency with a credit card, debit card, bank transfer, and more. Both debit and credit cards must be enabled with 3D Secure, an additional security layer used to authorize online purchases.
Bybit: Bybit allows users to buy crypto with a credit card via a desktop or mobile app. Fees do apply based on the card’s issuing region and card scheme.
OKX: OKX allows users to buy crypto with a credit card or debit card from most regions except the U.S. Only debit cards are supported in the U.S. at this time. Transfer fees will apply and transactions may require extra authentication via a small micro charge or a 3D secure authentication process.
Crypto rewards for buying crypto with a credit card
Some credit cards allow users to earn cryptocurrency rewards as an alternative to traditional points or cash back. One such example is the Gemini card, which provides instant crypto rewards with no transaction fees, offering up to 3% back on dining, 2% on groceries and 1% on other purchases. These rewards can be redeemed in bitcoin, ether, or other supported cryptos. The Venmo Credit Card offers a similar rewards program, including up to 3% cash back on top spending categories such as groceries or transportation, which can be easily converted into cryptocurrencies (including Bitcoin, Litecoin, Bitcoin Cash, and Ethereum) at no extra cost.
