Purchasing cryptocurrencies using a credit card is easy. There are many exchanges that have this as an option. That said, it’s important to understand the risks and rewards associated with using credit cards for buying crypto.
Can you buy cryptocurrency with a credit card?
Yes, it is possible to buy cryptocurrency with a credit card. However, most exchanges do not allow you to purchase Bitcoin or other cryptocurrencies using your credit card.
The reason behind this is that exchanges are required by law to verify the identity of their users and make sure they are over 18 years old (or whatever age bracket applies in your country). If someone pays for an account using their credit card but then turns out not being 18 years old, the exchange is liable for it and could lose its banking license.
Therefore, if you want to buy Bitcoin or any other cryptocurrency with your credit card for now, I would recommend signing up on Changelly (which accepts all major payment methods including PayPal) instead of Coinbase or CEX because they do not require ID verification nor age confirmation; as long as there’s enough balance in your bank account from which you transfer money from (and receive bitcoin into), then everything should go smoothly!
What options are available to you?
The first thing you should know is that cryptocurrency purchases are restricted to certain countries. In addition, the option of using a credit card to buy crypto is also limited to some countries. If this is your first time buying cryptocurrency online, you probably don’t know what I’m talking about and most likely have not been able to purchase any at all.
If it’s not clear yet, here is an overview of what options are available (or unavailable) in different countries:
- Credit Card Purchases — Available in Most Countries Except U.S., Japan and China
- Cryptocurrency Purchases — Available in Most Countries Except United States & Japan
Why would I buy Bitcoin with a credit card?
1: You can buy Bitcoin with a credit card to get started in the cryptocurrency world
2: You can buy Bitcoin with a credit card to diversify your investment portfolio
3: You can buy Bitcoin with a credit card to make a profit
What cryptocurrencies can I purchase with a credit card?
Before you begin buying cryptocurrency, it is important to know which coins are supported by your exchange. Some exchanges do not support all cryptocurrencies and many don’t allow fiat deposits (meaning you can’t use a credit card to buy Bitcoin).
Some exchanges may also only support certain countries and have their own fees for different coins. For example, Coinbase doesn’t offer Ripple (XRP), Monero (XMR), Dash or Iota but does support Bitcoin Cash (BCH) and Ethereum Classic (ETC).
Additionally, you will likely be charged a fee for buying with a credit card depending on the exchange you choose. For example, Coinmama charges 5% while Coinbase charges 3%.
How do I sign up for an account at an exchange that allows me to purchase Bitcoin with my credit card?
There are many exchanges that allow you to purchase Bitcoin with your credit card. The process is usually simple and straightforward, but there are a few things you need to know before getting started:
- You will need to provide your name, address and other personal information (e.g., your birthdate).
- You may need to upload a photo of your ID or other documents (e.g., utility bill).
- You will need to provide your credit card information in order for the exchange to verify that it’s valid and belongs to you.
Exchanges that allow buying bitcoin with a credit card usually have similar requirements for the transaction process. Below we’ll look at how purchasing cryptocurrency from Coinbase compares with Circle and CEX .
Which exchanges are the best for buying Bitcoins with a credit card?
So, how do you buy cryptocurrencies with a credit card?
There are two options:
- Buying Bitcoin on an exchange that accepts credit cards. The most popular exchanges for buying Bitcoin with a credit card are Coinbase and CEX. Coinbase is the world’s largest cryptocurrency exchange, but it only allows users to purchase four cryptocurrencies. CEX is less popular but more flexible in terms of the number of coins that it offers for trading – which makes it a better option for those who want to trade other coins besides BTC (Bitcoin).
- Purchasing crypto directly from another individual who is willing to sell their own coins in exchange for fiat currency like dollars or euros via LocalBitcoins – a peer-to-peer marketplace where buyers and sellers meet directly on an online forum hosted by LocalBitcoins itself between each other without any middleman intervention needed so long as both parties agree on rates/prices beforehand before making payment using whichever payment method they prefer!
There are lots of options.
You may have heard that you can’t buy crypto with a credit card, but that’s not entirely true. There are several ways to use your credit card to buy crypto, including:
- Buying from an exchange like Coinbase using their Visa or Mastercard debit card. This is the most straightforward way to get started buying crypto with credit cards because it’s free and doesn’t require verification of identity or personal information. However, there’s a limit on how much money you can spend per day; this varies depending on which country you’re in and how much cryptocurrency you’re looking to purchase (for example, if you want to buy $2K worth of Bitcoin every day). You also won’t earn any cash back rewards when paying with your debit card as opposed to a standard purchase made through Amazon or another retailer where companies usually offer incentives for shopping through their payment gateway (Stripe).
- Using TransferWise or Revolut which both allow users abroad[sic] but only accepts euros instead [sic] dollars
There are a number of exchanges that accept credit card payments for buying and selling cryptocurrencies. This article will help you decide if this is the right payment method for you, and then we’ll go over how to sign up at an exchange where you can buy Bitcoin with your credit card.