Buy Bitcoin with a credit card or debit card

12/17/2020 | Non classé

Consumers in the U.S. alone made 39.6 billion credit card purchases in 2019, and chances are you have several of those little plastic squares on you right now. As the industry standard for online purchases, credit and debit cards offer a quick and convenient way for you to acquire bitcoin. While not built for heavy trading, using credit cards to buy Bitcoin is an excellent option for first-time buyers and people looking to use Bitcoin (BTC) to purchase goods.

Why should you buy Bitcoin with a credit card?

Benefits of using a credit card

Credit cards allow you to buy Bitcoin instantly. You don’t have to wait the 3-8 days that it usually takes for bank transfers to go through, which adds convenience and security. There are no advanced forms to fill out, and platforms are user-friendly, ideal for beginners.

The card allows investors like yourself to use FIAT currencies to make their purchases, and the card will automatically make any exchanges for them. Buyers can leverage their credit lines, allowing them to purchase more Bitcoin than they have liquid assets. While very risky, there are times when this strategy is advantageous.

Drawbacks of using a credit card

Platforms generally charge you higher fees for credit card transactions. Depending on the exchange, these fees can be as high as 5%. You aren’t anonymous when you buy with a credit card, and your cards need to be linked to a bank account.

Despite leveraging credit lines, the amounts of crypto you can purchase with credit cards will be lower than other methods. You wouldn’t buy a house with a credit card, would you? The same logic applies here. These purchases will also affect credit ratings like any other purchase and lower their score if the balance climbs too much.

Bank wire transfers will have lower fees and are preferred for larger transactions, but they take longer. ATMs are convenient, but they still charge you high fees and require your physical presence. Buying Bitcoin with PayPal is just now starting to be widely available, and isn’t very secure.

Where can you buy bitcoin with a credit card?

Given how easy it is for companies to accept credit card payments online, most exchanges and marketplaces that trade Bitcoin accept credit cards. Some of the options include:

How do you buy Bitcoin with a credit card?

The steps to buying Bitcoin online with a payment card are straightforward. Once you find a fair exchange, like our partner coinify, all you do is:

The platforms that accept credit cards almost universally accept debit cards. Online purchases rarely distinguish between the card types as long as they are issued by a large credit company like Visa or Mastercard.

Frequently Asked Questions


You can buy Bitcoin anonymously by purchasing it at a Crypto ATM using cash or a prepaid card. Some exchanges won’t require an ID, but will put stricter limits on how much you can purchase. Keep in mind that all exchanges of Bitcoin are publicly available as part of the blockchain technology, but it is possible to hide your identity by making it difficult to tie you to a particular transaction.

Yes, you can buy Bitcoin instantly by using an ATM, a marketplace, or an online service specifically suited to instantly filling your wallet like Ledger Live.

The service you are using may charge a fee to allow you to purchase Bitcoin. An ATM or exchange may give charge either a fixed amount or a percentage of the purchase price. Credit card companies have also started counting buying Bitcoin as a cash advance. Cash advance fees are typically $10 or 3-5%, whichever is greater.