You can buy cryptocurrency with a credit card. And in fact, buying crypto with a credit card is usually the easiest way to get started investing in digital assets. So if you want answers to “can I buy crypto with a credit card?” take a look at the details shared below to find some answers.
You can buy cryptocurrency with a credit card.
Many have asked, “How can I buy cryptocurrency with a credit card?” This is because of the belief that crypto is too risky to purchase with a credit card. However, this is not true at all! For example, you can use your credit or debit card to buy cryptocurrency as easily as you would use it at a grocery store or gas station.
There are several ways to do this:
- Buy crypto using a bank account and transfer funds from your bank account into another exchange or wallet’s account that supports purchasing via bank transfer (this is what we cover below).
- Use an instant wire transfer service like Coinmama or Changelly, where they will send you bitcoins within minutes after depositing funds into their accounts through a wire transfer service like Western Union or MoneyGram.
Which Cryptocurrencies Can You Buy With a Credit Card?
The best cryptocurrency to invest in is the one you believe will rise in value. Here are some of the most popular cryptocurrencies available for purchase with a credit card:
- Bitcoin (BTC)
- Ethereum (ETH)
- Litecoin (LTC)
- Bitcoin Cash (BCH)
- Dash
What’s the Best Place to Buy Crypto With a Credit Card?
Coinbase is the most popular place to buy cryptocurrency with a credit card. However, it might not be the cheapest option. For example, you can only use a maximum of $2,000 per week to deposit into your Coinbase wallet and buy crypto with your credit card. If you want to invest more, you should use another exchange like Changelly or Bitpanda (which both offer lower fees).
SoFi experts suggest, “It’s important to note that exchanges sometimes change their rules around payment methods and other details, due to the constantly-evolving regulatory landscape. There was a time when Coinbase accepted credit cards, for example, but as of the time of this writing, they do not.”
How to Buy Crypto With Credit Card
If you want to buy cryptocurrency with a credit card, the following steps will help you get started:
- Choose an exchange that accepts credit cards. The most popular exchanges for buying crypto with a credit card are Coinbase and CoinMama. These exchanges accept Visa and Mastercard and allow you to buy Bitcoin or Ethereum with your credit card.
- Verify your identity on the exchange by uploading the following: notarized copy of passport or driving license; utility bill; bank statement; official government document (e.g., birth certificate, permanent residence permit). Some exchanges may also require additional information, depending on their policies for KYC/AML procedures (Know Your Customer / Anti Money Laundering).
- Purchase digital currency using your credit card once identity verification is completed on the platform’s website or mobile application.* Once purchased, send it to your wallet via QR code scan or QR code generation to avoid losing them after purchase!
It’s important to note that you can only buy cryptocurrencies with a credit card at specific exchanges. However, there are plenty of options, and it doesn’t take long to compare them before making a decision. Just remember not to spend more than you can afford!