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11 Ways to Buy Bitcoin with a Credit Card

By: Ofir Beigel | Last updated: 1/5/21

These days it’s getting much easier to purchase Bitcoin with a credit card. The problem of chargebacks has been mitigated through anti-fraud companies, and more and more exchanges allow credit cards as a valid payment option. In this post I’ll review the most popular methods for buying Bitcoin with a credit card.

Buying Bitcoins with a Credit Card Summary

The easiest way to buy Bitcoins with a credit card would probably be CEX.io. Here are the steps:

1. Visit CEX.io and create an account
2. Choose the amount you want to buy.
3. Complete your KYC
4. Enter your Bitcoin address.
5. Enter your credit card details.
6. The coins will be sent to your wallet.

*eToro users: 75% of retail CFD accounts lose money. Your capital is at risk

If you want to read in depth about additional exchanges that accept credit cards keep on reading. Here’s what I’ll cover:

1. Buy Bitcoin with a credit card through CEX.IO

Pros: Veteran company, high buying limits

Cons : Support can be slow, Higher exchange rates than competition

Established in 2013, CEX.IO is a cryptocurrency exchange trusted by over 2 million users. CEX.io works in the United States, Europe, as well as in some countries in South America and Asia. The site supplies a complete trading platform as well as a brokerage service.

How to Use CEX.io

1. Open a CEX.IO account.

2. Click on Finance and Deposit next to the requested currency.

3. You’ll then have the option to either wire transfer the money or use your credit card to buy Bitcoins instantly.

CEX.IO also offers instant withdrawals of USD, EUR, GBP, and RUB to payment cards, meaning you can deposit and withdraw funds in and from your payment cards once they’re linked to your CEX.IO profile.

Withdrawal requests are processed automatically right after their placement, and they do not require you to log in to any third-party services. In most cases, withdrawals are processed instantly, enabling you to gain convenient access to the funds on your Visa or Mastercard right away.

2. Buy Bitcoin with a credit card through eToro

Pros: Low fees, user friendly

Cons : Hard to withdraw actual coins

eToro supplies different cryptocurrency services such as a wallet, trading platform, CFD services and also a regulated exchange. You can speculate on Bitcoin’s price through eToro using your credit card with relatively low fees. While it’s possible to withdraw the actual coins, the platform is more suited for price speculation.

75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. CFDs are not offered to US users. Cryptoassets are highly volatile unregulated investment products. No EU investor protection.

3. Buy Bitcoin with a Credit Card through Coinmama

Pros: Good support, respectable company, fast service

Cons: Limited states in the United States

Coinmama specializes in Bitcoin purchases through a credit card since 2013. They take a premium fee for their services, and you can buy up to $1 million worth of Bitcoin with a fully verified Coinmama account. They provide fast and reliable service with receiving Bitcoins instantly after your purchase confirmation. Support is pretty responsive.

How to Use Coinmama

1. Get a Bitcoin wallet, as Coinmama doesn’t hold the Bitcoins for you.

2. From Coinmama’s homepage, choose how many Bitcoins you’d like to buy. Enter the price either in BTC, USD, EUR or in other currencies. Alternatively, you can choose one of the offered packages.

3. Click Buy BTC, and you will be taken to the sign-up page.

4. After you fill out your initial details, you’ll need to go through an additional verification by submitting a photo ID. Verification is usually pretty quick (it took me 1.5 hours to get verified).

5. Verified users can buy bitcoins pretty easily with your credit card through the friendly interface. I suggest you use Visa or Mastercard since it’s the fastest option. With level 3 verification you can buy $7,500/day and up to $40,000/month.

6. Next you’ll need to enter your own Bitcoin address.

7. Finally, enter your payment details and place your order.

4. Buy Bitcoin with a credit card through Bitpanda

Pros: Multiple payment options, relatively low fees

Cons: Not available worldwide

Bitpanda is an Austrian startup company that was founded in October 2014. The company allows you to buy Bitcoins and a variety of other cryptocurrencies with a credit card as well as with wire transfers, Neteller, Skrill, SEPA, and more. The company supplies its services to European countries a handful of other countries only at a relatively low fee.

How to Use Bitpanda

5. Buy Bitcoin with a credit card through Coinbase

Pros: User-friendly interface, relatively low fees, established reputation

Cons: Not available worldwide, horrible support

Coinbase is the largest Bitcoin broker worldwide. It has over 30 million customers around the world. Coinbase charges a 3.99% convenience fee on all credit card transactions and is open to 100+ countries around the world. When buying more than $100 worth of Bitcoins, you will receive an additional $10 Bitcoin bonus.

How to Use Coinbase

1. Create a Coinbase account.

2. Go to Settings, then Payment Methods, and then click Add Payment Method.

3. Click Credit/Debit Card.

4. Enter your card’s information.

5. Once the card is confirmed, you can go to Buy/Sell and buy your Bitcoins.

6. The Bitcoins will be sent to your Coinbase wallet.

Credit card purchases of Bitcoin are charged an additional 3.99% processing fee. In order to connect your card, you’ll need to verify your identity by uploading a government-issued ID.

6. Buy Bitcoin with a credit card through Binance

Pros: Good reputation, available worldwide

Cons: Slow verification process, slow support

Binance is a crypto only exchange. However, you can buy Bitcoins with a credit card on Binance thanks to a partnership they have with Simplex. Even though it is considered a relatively young exchange, Binance has surpassed most veteran exchanges in its popularity and trading volumes.

7. Buy Bitcoin with a credit card through LocalBitcoins

Pros: Wide variety of sellers, easy-to-use interface

Cons: Sellers will usually take higher fees for credit card purchases, possibility of scam

LocalBitcoins is a peer-to-peer marketplace for buying and selling Bitcoins. You can think of it as eBay for Bitcoin. The site offers a wide variety of sellers that accept various payment methods, including credit cards. The main issue when using LocalBitcoins is that you have to filter sellers wisely so that you won’t get scammed. One thing to keep in mind is that if you’re new to LocalBitcoins, not a lot of sellers will want to do business with you since they’re likely afraid of scammers as well.

How to Use LocalBitcoins

1. Sign up to LocalBitcoins.

2. Search for a seller who accepts credit cards (unfortunately, there’s no “worldwide” search, so you’ll need to sift through different countries to find all sellers).

3. Verify that the seller has enough of a reputation, and read the terms of the trade.

4. Enter the amount you’d like to buy, and click Send trade request.

5. Follow any additional requests as required by the seller.

8. Buy Bitcoins with a credit card through Bitstamp

Pros: Great reputation, multiple payment options, accepts customers worldwide

Cons: Average fees, verification process can take a long time, not very user friendly

Established in 2011, Bitstamp is one of the oldest and most reputable Bitcoin exchanges out there. The exchange is fully licensed by the Luxembourg ministry of finance. Bitstamp accepts credit card purchases via Simplex. Its service is open to over 80 countries globally including Europe and USA plus a selection of Asian and South American states .

How to Use Bitstamp

1. Click on Deposit.

2. Choose Credit Card as your payment option.

3. Deposit the required amount.

4. After the deposit is cleared, click on Buy/Sell.

5. Choose Buy BTC.

6. Enter the amount you want to buy and click on Buy BTC.

To finish your order, you’ll need to use a 3D Secure credit card. Also, some banks may consider your credit card deposit as a cash advance. If that’s the case, your bank or credit card provider may charge extra fees.

9. Buy Bitcoin with a credit card through Coinhouse

Pros: Reputable company, high buying limits

Cons: Limited countries available, high exchange rates

Coinhouse is the “House of Bitcoin” in Paris. You can buy Bitcoins by Visa, MasterCard, with cash, or with a Neosurf prepaid card, which is available in most European countries.

10. Buy Bitcoin with a credit card through IndaCoin

Pros: Good support, available worldwide

Cons: High fees

Indacoin is a UK-based exchange that allows users worldwide to buy Bitcoins with a credit card. The minimum amount is $50, and the limit for the first week is $500. After 14 days, your limit increases to $2,000 and after one month there are no buying limits at all.

In order to use your credit card, you’ll need to verify your phone number and your five-digit code which is on your credit card statement. The process is fairly simple, but I haven’t tried the exchange out myself, so I can’t vouch for it.

Even though the site states that it doesn’t charge any fees, its exchange rate is pretty high due to credit card processing.

11. Buy Bitcoin with a credit card through CoinCorner

Pros: Easy to use for beginners, supporting mobile app

Cons: High administration fees on deposits, not available worldwide

CoinCorner is a Bitcoin broker established in 2014, located in the Isle of Man. The exchange services several countries around the world. You can buy up to €1000 of Bitcoin without any verification for very competitive fees. CoinCorner also has a supporting mobile app that allows you to send and receive Bitcoins from your account using your mobile phone.

12. Buy Bitcoin with a credit card through Xcoins

Pros: Very quick turnaround for purchases, 24/7 support

Cons: No explicitly-stated fee, accepts USD and EUR only for fiat

Xcoins is a Malta-based cryptocurrency exchange platform which has been around since 2016.

Users of the service can purchase BTC as well as LTC, ETH, XRP and BCH using USD or EUR via Visa or Mastercard.

Xcoins takes the speed of its service very seriously; The exchange actually promises to send your coins within 15 minutes of payment approval, or your next transaction will be free of fees. This makes Xcoin a good choice if you want to put your hands on some bitcoin quickly.

The minimum purchase amount is 50 USD or 50 EUR, with no maximum limit stated on their site.

12. Frequently Asked Questions

Does a Bitcoin ATM accept Credit Cards?

Bitcoin ATMs accept only cash as payment for Bitcoin (due to chargeback issues). You will not be able to pay with your credit card at a Bitcoin ATM.

How can I buy Bitcoins with Visa?

All of the exchanges listed on this page accept Visa cards as a form of payment.

How can I buy Bitcoins with Discover Card?

Most exchanges accept Visa and Mastercard credit cards. However, some online reviews claim that exchanges like CEX.io accept Discover card as well.

13. Conclusion: How do I know which exchange to use?

It can be kind of hard to decide which exchange is the best platform for buying your Bitcoins since there are so many of them. I suggest trying out each exchange with a small amount of money and moving on to larger funds only after you’re comfortable with the process.

Once you take the first step you’ll start to notice what you actually value in an exchange and adjust your choices accordingly. If you have any more questions or comments about the methods I just described, leave me a comment below.

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Learn Where & How to Buy Bitcoin With Credit Card — A Beginner’s Guide

Bitcoin is the most popular cryptocurrency with monetary value. An unknown group or person using the name Satoshi Nakamoto invented the digital asset in 2008 and mined the genesis block on the 3rd of January 2009. It is a decentralised digital currency that surpasses expectations.

Credit cards enable the holders to pay for goods and services based on the promise to the card issuer to pay them the amount and interest later. Today, you can buy and sell Bitcoin with your credit card from many crypto platforms across the world without difficulty.

Steps to Buy Bitcoin With Credit Card

Buying Bitcoin with credit cards was incredibly hard a few years ago. However, in 2020, many crypto companies have made the process easy. Here are the 3-easy steps that you should follow:

1. Ensure your credit card is active: Before you start the transaction, ensure that your card is active. It should also support the purchase of Bitcoin. Visa and Mastercard are some of the best companies that allow you to send and receive Bitcoins. In case you do not have the card, ensure that you have all the vital details, including card number, security code and expiry date.
2. Create a Bitcoin wallet: There are several excellent Bitcoin wallets. Choose one that has your preferred security features and is affordable. Bitcoin.com offers some of the best options.
3. Register with a Bitcoin exchange: Find a secure cryptocurrency exchange where you feel safe to buy Bitcoins. Find out what they want from you. Have your photo ID ready. Pay the seller using your credit card and let them send the assets to your Bitcoin address.

If you are ready to buy from a peer-to-peer marketplace, you can do some research online. Then look for individuals or organizations that accept it for buying Bitcoin. Please note that some exchanges also allow you to buy directly on their site with credit cards.

Best Places to Buy Bitcoin With Credit Card

Compared to securing the best Bitcoin wallet, which is relatively straightforward, obtaining the right Bitcoin trading platform is often a little challenging. Some of the platforms do not accept this payment method. Others are quite costly.

We have taken the time to select the best trading platforms that are accepting Bitcoin since we know that finding the right one is critical to your success.

Pros and Cons of Buying Bitcoin With Credit Card

What Are the Transaction Fees on Credit Cards?

When buying cryptocurrency, bear in mind that transaction fees on credit cards often vary greatly. Credit card issuers have different pricing policies, and that reflects on the fees. Different trading platforms also charge different rates. The best way to know the transaction fees that you should pay is to check with the card issuer and the trading platform that you are planning to use.

As we have mentioned, there are several types of credit cards. That means it is difficult to provide a full list of the transaction fees you are likely to pay. However, when purchasing Bitcoin with a credit card, you should bear in mind that most companies charge approximately 5% of the total amount of currencies you buy. But others will charge you as high as 10%. Mastercard charges an average processing fee ranging from 1.55% and 2.6%, and Visa charges are between 1.43% to 2.4%.

BTC to Credit Card: Can I Transfer Bitcoin to Credit Card?

If you want to sell Bitcoin, you can go ahead and do that, but you must follow the right process. You can do the transfer directly. To start with, you need to register on a Bitcoin trading platform of your choice. You can transfer the assets to your credit card directly. If this is not possible for you, use an alternative method. Typically, credit cards do not need to be credited for you to use them. However, if you transfer your Bitcoin to your bank account, you can go ahead and withdraw it.

Once you have created an account on your trading platform, add your credit card information and confirm the action. Buy or transfer the Bitcoin in the wallet and receive the funds into your credit card. After that, you can go ahead and withdraw the money from your credit card. Many people say this is not recommended due to the high charges. However, in this case, the charges are relatively low since the bank will not be offering you a cash advance, as is always the norm. In this case, your card is functioning like a debit card. Remember to follow your platforms’ instructions as the procedure may differ depending on your chosen Bitcoin exchange site.

Your platform will most likely require a photo ID or proof of residence. So, make sure you have them ready if you want to transfer your Bitcoin to your credit card. Transferring Bitcoin to a credit card fund is not your thing if you want anonymity. Both platforms will keep transaction records. But you can see this as an advantage as it limits your chances of falling victim to scams.

Credit Card to Bitcoin: Is It Possible to Convert My Credit Card Funds to BTC?

Unlike many payment methods, major companies allow people to convert credit card funds to BTC. Some credit card companies have banned users from some geographical locations from investing in gambling and forex.

But purchasing Bitcoin when you have some funds in your credit card is easy. It is essential to identify exchanges that can convert the fiat currently into the digital asset. Some of them provide built-in wallets where you can hold your Bitcoins for a while as you wait for its value to rise.

Since credit card companies are registered and responsible, the chance of having your money reversed is close to nil. Start by selecting a secure crypto exchange. Once the company has received the funds, they will send the Bitcoin to your wallet.

Frequently Asked Questions

1. 1. How long does it take to convert Bitcoin to credit card funds?

If you follow the right steps, it could take you between 5 and 10 minutes. Start a new transaction and authorise the credit card. After that, transfer the crypto coins to your trading platform. You will then receive your money within 1-to-5 days, depending on the bank’s processing time.

Whenever you want to convert your BTC to credit card funds, you should bear in mind that the service typically comes at a cost. All the involved parties must make some profit to remain in business. Here are the types of fees that you need to bear in mind: Bank transfer charges: The processing bank will charge a small fee to deliver your credit card funds. Trading platform fees: The platform also takes some fee for providing the service. Bitcoin transaction fees: This is the amount that is charged to your crypto wallet. Bitcoin miners receive it for confirming your transactions.

Bitcoin is among the digital assets that fluctuate a lot. So, it is best to use the dollar-cost averaging strategy if you want to make a profit. This means that you can buy the coins when the price is low and sell when it increases for the best outcome. Remember that many people lose money when investing in these kinds of assets due to their hyped price-increase expectations. If the price has significantly dropped and you objectively expect it to increase in the coming days, you can use your credit card to buy the coins. This way, the high cost of using credit cards to buy digital currencies will not stop you from making a profit. Of course, it is best to invest the amount you can afford to lose due to the volatility risk.

When you use a credit card to buy Bitcoin, you must be prepared to repay the principal plus an agreed additional charge. Remember, you are not required to deposit funds on the card to be able to use them. However, limits are always put on the cards. Despite these drawbacks, many people are still using these cards for a good reason. If you want to buy Bitcoin but do not have money, credit cards are your best reliable source of funds. All we are saying is that these cards allow you to trade when you have no purchasing power but need to continue investing or using Bitcoin.

Speed is vital in the buying and selling of Bitcoin. So, it is fair to want to know whether you can use credit cards to buy bitcoins instantly. The answer is ‘yes’. You can buy instantly, but that is only applicable if you go through CFD’s brokers rather than a traditional Bitcoin exchange.

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