How To Buy Bitcoin With A Credit Card

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Here are the five steps to follow to buy Bitcoin with a credit or debit card:

1. Compare and select an exchange
2. Create an account with the crypto exchange
3. Fund the account with a credit card
4. Select Bitcoin or another crypto from the asset list
5. Buy Bitcoin (BTC) with the linked card

Can You Buy Bitcoin With Credit Card?

Yes, it is possible to buy Bitcoin with a credit card. However, it depends on the crypto exchange and credit card provider being used. Some cryptocurrency exchanges allow investors to purchase Bitcoins with a credit card, while others restrict or discourage them with high fees, as some platforms charge as much as 8% for a credit card transaction.

The other consideration is that finding a banking institution that accepts credit card transactions to acquire Bitcoin can be tricky. Not all banks allow it, depending on the country. There are a few select third-party providers, such as Simplex that integrate with cryptocurrency exchanges to accept credit card payments.

Where To Buy Bitcoin With A Credit Card

Here is our summary of the top Bitcoin and cryptocurrency websites that offer credit card/debit card purchases. For in-depth coverage and the pros and cons of each exchange, click on the exchange review links below.

1. Binance. Overall best place to buy Bitcoin with a credit card
2. Kraken. High Liquidity Exchange that accepts credit cards
3. Coinbase. A user-friendly platform for buying crypto with cards
4. CEX.IO. Secure platform for credit card payments

Exchange	Crypto Assets	Credit Card Fees	KYC Required	Limits
Binance	600	3.5%	Yes	Unlimited
Kraken	250+	3.75%	Yes	$10 minimum
Coinbase	240+	3.49%	Yes	$20 to $50 minimum
CEX.IO	145+	2.99% to 3.99%	Yes	$20 minimum

1. Binance

Binance is the largest digital currency exchange service in the world, according to CoinMarketCap, which provides a platform for trading more than 600 different cryptocurrencies. The platform has seen a meteoric rise since it was founded in 2017. Binance accepts VISA card Bitcoin transactions using 30+ local fiat currencies such as the USD, GBP, and the Euro.

Credit card transactions are faster, but the associated fees are usually higher than bank transfers and other popular payment methods. Binance charges around 3.5% per card transaction, and there may be additional fees from the bank or credit card provider. There does not appear to be a minimum payment limit using a credit card on Binance.

Users must complete the know-your-customer (KYC) process to access this payment option. Binance may request additional verification before credit cards are successfully linked to customers’ accounts. Credit card purchases for crypto are available on the global Binance platform. But credit card payments are not supported on the exchange’s American subsidiary – Binance.US.

To buy Bitcoin with a credit card on Binance, follow these steps:

1. Log in to a verified account
2. Open the fiat gateway to make a purchase
3. Select the fiat currency to pay with and enter the amount
4. Select a payment service provider and choose a credit card
5. Confirm the transaction and wait for the cryptocurrency to be received

Read our full Binance review and claim $100 USDT with our Binance code.

2. Kraken

Kraken is a high liquidity exchange that supports over 200 crypto assets. The US-based cryptocurrency exchange was founded in 2011, making it one of the oldest digital asset exchanges today. While it started as a crypto trading hub, Kraken has evolved into a full-featured exchange with a variety of features (and payment methods).

To purchase crypto using credit cards on Kraken, the customer must be a verified Intermediate or Pro level user. Also, the details on the credit cards must match the customer's account information on Kraken. However, credit card payments are not available to customers in the US.

As for the costs, Kraken charges a 3.75% fee per credit/debit card transaction, while the minimum purchase amount in USD is $10. The exchange implements a 72-hour withdrawal limit on the user's first credit card purchase. This applies to fiat and crypto withdrawals.

Credit card purchases have a 7-day purchase limit, depending on the selected fiat currency. For instance, GBP deposits have a seven-day purchasing limit of £4,000 while USD deposits have a $5,000 weekly threshold.

To buy Bitcoin with a credit card on Kraken, follow these steps:

1. Log in to a Kraken account
2. Deposit funds by selecting a credit/debit card option
3. Enter the amount to spend with a card
4. Browse the supported assets and buy bitcoin

Read our full Kraken review.

3. Coinbase

Coinbase is one of the best exchanges to buy Bitcoin with a credit card as it supports multiple fiat currencies to an account. However, the credit card deposit feature is not available for US customers. Only traders based in the UK and other EU countries can buy Bitcoin with a credit card on Coinbase. Initiating cash advance payments on Coinbase is simple once the credit card is linked to the platform.

The minimum card deposit on Coinbase ranges from $25 to $50, depending on the user’s location. The account level of the user largely determines Coinbase deposit limits. The exchange charges about 3.49% per credit card transaction. To ensure a successful transaction, traders must ensure that their credit cards support “3D Secure” to be accepted by Coinbase.

To buy Bitcoin with a credit card on Coinbase, follow these steps:

1. Log in to Coinbase with a verified email address
2. Link the account to a 3D Secure Card
3. Fund the wallet by selecting card payments and entering an amount
4. Select Bitcoin or another crypto and complete the purchase

Read our full Coinbase review.

4. CEX.IO

CEX.IO is a regulated cryptocurrency exchange with millions of customers worldwide. The exchange allows users to buy, sell, trade, and invest in cryptocurrencies easily and securely in one place. The platform supports over 146 cryptocurrencies, including Bitcoin and altcoins like Ethereum, Litecoin, and Bitcoin Cash. On CEX.IO, investors can buy Bitcoin and other cryptocurrencies using various payment methods, including credit cards.

To use a VISA or Mastercard to buy crypto, individuals must undergo the mandatory KYC/AML procedure. Once completed, the user can choose a credit card as a payment method. It should be noted that CEX.IO limits its credit card deposits to specific regions which include the US, UK, and Russia.

The minimum card purchase on CEX.IO is $20, which makes it easy for first-time investors to buy Bitcoin. However, there is a deposit commission between 2.99% to 3.99% and an additional service charge that will be added to the transaction. We could not verify the deposit fees.

To buy Bitcoin with a credit card on CEX.IO, follow these steps:

1. Log in to CEX.io with a valid email
2. Link a credit card to the account and enter card details
3. Select card payments, enter the amount, and deposit funds
4. Choose the crypto, enter the fiat currency and amount to spend
5. Once the deposit is complete, select Bitcoin and click ‘buy'

Read our full CEX.IO review.

Advantages of Buying Bitcoin with Credit Card

• Instant transactions. Credit card payment offers instant processing on exchanges. The transaction speed is a significant advantage because it helps investors mitigate the risk of losing money due to market volatility and price swings during the transaction timeline.
• Security. Buying Bitcoin with a credit card is secure because credit card companies offer fraud protection. Credit cards are not connected to the customer's bank account. In the event of theft, the card issuer's funds would come into harm's way, not the customer's. On the other hand, a debit card links directly to a checking account.
• Convenience. Credit card transactions only require the card information and the transaction will be completed. Bank transfers are more tedious, as they require additional information like routing numbers, account numbers, and bank details. Moreover, credit card transactions can be performed using a mobile app or wallet.

Disadvantages of Buying Bitcoin with Credit Card

• Volatility. Investing in cryptocurrencies can be risky. Coin prices fluctuate from time to time, so borrowing money with a credit card to purchase or invest in Bitcoin can result in losses if the market drops. Credit card payments not only increase the investor’s debt but could also affect their credit score.
• High fees. Credit card purchases usually come with high fees because of the additional charges, transaction fees, cash advance fees, and interests that accrue over time.

How To Buy Bitcoin Using A Credit Card – Full Tutorial

1. Compare and select an exchange

The first step to buying Bitcoin is to find a cryptocurrency exchange that supports card payments. The options above are good examples to consider. It is important to check the fees associated with credit card and debit card payments. There can also be foreign conversion fees. For this example, we will show the process of using a credit card on Binance Exchange.

2. Create an account with the crypto exchange

Visit the Binance website and click the ‘Register Now’ icon to access the registration portal. Select ‘Create a Personal Account’ to register for an individualized trading account. Provide a valid email address and a strong password. Tap ‘Next,' and enter a valid mobile number to verify a mobile phone line and email address.

All crypto trading exchanges, including Binance, require all customers to provide know-your-customer (KYC) information as an additional verification process to access the platform’s full features.

3. Fund the account with a credit card

To fund an account, visit the Binance deposit page to purchase Bitcoin and other crypto assets. Traders should select ‘credit card’ as their preferred payment method. Then, click on the ‘Deposit’ button, type in how much Bitcoin to buy, and click ‘Deposit’.

4. Select Bitcoin from the asset list

After making a payment in USD or any fiat of their choice, investors should navigate to the search bar located at the top of the screen and enter ‘BTC.’ When Bitcoin (BTC) appears below the search bar, click on the ‘Buy BTC’ button.

5. Buy Bitcoin (BTC)

Place an order to buy Bitcoin instantly with a credit card. For this part of the process, type the total purchase amount and click on ‘submit'. Once an order is placed, Binance will instantly process and complete the trade, and Bitcoins will be added to customers' wallet addresses.

Frequently Asked Questions