Cryptocurrency has now become a very popular investment option for many individuals as well as organizations. With the skyrocketing value of Bitcoin over the past few years, many people have now started directly trading and buying Bitcoin with credit cards or debit cards instead of mining Bitcoin.
However, buying Bitcoin (BTC) using a debit card, credit card or prepaid card can be difficult. But, the companies like Coin base and Binance have made this process seamless and fast. Now, you can directly purchase Bitcoin with a credit card, debit card or prepaid card from your account at any international or domestic exchange.
In recent times, many banks don’t authorize credit cards to buy cryptocurrencies like Bitcoins, Ethereum, Ripple, etc. However, some credit card providers with sole businesses allow you to make a crypto purchase using a credit card.
If you want to buy or acquire Bitcoins (BTC) with a credit card, follow the steps below:
Step 1) Visit Coin base Platform
Open a browser and visit: https://www.coinbase.com/
Step 2) Create your Coin base account
Create an account, verify the details, and log in to your account.
Step 3) Add a Payment Method
Next, you will be asked to add a payment method. Hit the “Add a Payment Method” button.
Step 4) Set the Payment option
In this step, you are required to add a Bank Account or a Credit/Debit Card.
Select the “Credit/Debit Card” method.
Step 5) Verify your identity
You need to verify your identity. Click on Upload ID.
Here, we have selected a Driving License for ID verification purpose.
Step 6) Upload the Document
Next, you need to upload the document via Webcam, Mobile camera, or a File. Choose your preferred option and upload the document.
Step 7) Enter your Billing Address details
After the verification is done, enter your credit card information and hit the “Add Card” button.
Step 8) Go to Buy/Sell option again
Now, you can go to the “Buy/Sell” option and buy Bitcoins by selecting Bitcoin.
Step 9) Select the amount and make the purchase
Once you pay the amount, the equivalent Bitcoin will be sent to your Coinbase wallet.
Within a few minutes, your funds will be shown in your account.
Note: Credit card purchases of Bitcoin are charged an additional 3.99% processing fee. Moreover, to connect your card, you’ll need to verify your identity by uploading a government-issued ID proof.
The protocol for Debit card transactions in Bitcoin purchases is mostly similar to credit card transactions. The only difference is that we can count a selection of debit card or prepaid card options instead of credit card selections.
Here are the steps for purchasing Bitcoin with debit cards:
Step 1) Visit the Binance site and register by clicking on the “Register Now” button
Step 2) Open a Crypto Trading Account with Binance
Step 3) As an extra security step, Binance asks you for the puzzle verification
For that, you just need to drag and drop the puzzle shown on your screen
Step 4) Verify your Binance account by entering the verification code received on your email id
Step 5) Complete the registration process
Enter the billing details as a Credit/Debit Card option to proceed with your Bitcoin purchase
Step 6) Enter the fiat currency amount to purchase Bitcoin with a debit card and click on the “Continue” button.
Here, we have used Euro to buy Bitcoin. You can see the corresponding Bitcoin amount you will receive.
Step 7) Complete the transaction using your Debit Card, and you will receive the Bitcoins in your Binance wallet.
|Name||Deposit Methods||Fiat Currencies||Supported Cryptocurrencies||Link|
|Paybox||Bank transfer, Credit/debit cards, Payee, and Skrill.||EUR, GBR, USD, and 44 others.||BNB, BTC, ETH, LTC, XRP, NEO, XLM, and TRX.||Learn More|
|Coin base||Bank transfer, Credit card, Debit card, and Wire transfer||USD, EUR, AUD, GBP, HKD, INR, etc.||BTC, BCH, ETH, ETC, LTC, etc.||Learn More|
|Binance||Bank transfer (ACH), Credit card, Debit card, Cryptocurrencies, and Pay ID||USD, EUR, AUD, GBP, NZD + 40 others||Bitcoin, Litecoin, Ethereum, Ripple, etc.||Learn More|
|Prime XBT||Credit Card, Debit Card, Bank Transfers, MoneyGram, Western Union, and cash deposits||AUD/USD, EUR, GBP, NZD, JPY, CA, etc.||BTC, ETH, LTC, and over 50+ other crypto assets||Learn More|
|CEX.io||Credit Card, Debit Card, and Bank transfer||USD. EUR, GBP, and RUB.||BTC, ETH, ADA, LTC, etc.||Learn More|
Paybis is an online multi-cryptocurrency exchange platform that supports the buying and selling of cryptocurrencies. It offers numorous payment methods to trade Bitcoin and other altcoins.
Deposit Method: Bank transfer, Credit/debit cards, Payer, and Skrill.
Transaction Fees: Charges a 2.49% for all credit/debit card transactions.
KYC and Verification Process: Need to provide full name, address, government-approved ID card for verification.
Customer Service: Chat and Email, and Social Media accounts.
Countries Supported: Albania, Bahamas, Barbados, Ghana, Iceland, Iran, Jamaica, North Korea, Mauritius, Mongolia, Myanmar, Panama, Sudan, etc.
Coin base is a Bitcoin exchange platform that enables you to purchase, sell, transfer, and store digital currency. It has low fees compared to other exchanges. This platform also helps you to buy crypto using your credit/ debit card.
Deposit Method: Bank Transfer (ACH), Credit and Debit card, and Wire Transfer.
Transaction Fees: Charges a 2% convenience fee on all credit card transactions.
KYC and Verification Process: Need a government-approved identity document for verification.
Customer Service: Chat and Email.
Countries Supported: Bahamas, Bermuda, Canada, Mexico, Panama, Trinidad and Tobago, United States, etc.
Binance is one of the best cryptocurrency exchanges, which allows you to buy BTC with a credit card or debit card. This Bitcoin exchange helps you to buy Bitcoin online. It also provides an API to integrate your current trading application.
Deposit Method: Bank account transfer (ACH), PayID, Credit card, Debit card, and Cryptocurrencies.
Transaction Fees: Debit/ Credit card transactions may add an extra 3% fee. Moreover, 0.02% maker fee and 0.04% taker fee.
KYC and Verification Process: Identity document verification.
Customer Service: Chat and Email.
Countries Supported: Austria, Belgium, Bulgaria, Denmark, Finland, France, Germany, United Kingdom, Netherland, Romania, etc.
PrimeXBT is a cryptocurrency exchange to purchase Bitcoin with a credit card or debit card. It allows users to buy and trade multiple cryptocurrencies from a single account. You get easy access to many cryptocurrencies, stock indices, commodities, and forex on this platform.
Deposit Method: Credit and Debit Card, Bank Transfers, MoneyGram, Western Union, and cash deposits.
Transaction Fees: 0.001% to 0.05%.
KYC and Verification Process: No verification is needed or KYC Requirement.
Limits: You can make a maximum purchase of 10 BTC.
Security: Cold storage of digital assets with multi-signature technology.
Customer Service: You can reach out to Chat/Email customer support 24/7.
Countries Supported: Australia, Thailand, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Denmark, United Arab Emirates, etc.
Cex.io is a cryptocurrency exchange that helps you to buy and sell Bitcoins. It is one of the best crypto exchange platforms that follows scalping and frequency trading strategies to secure assets and user data.
Deposit Method: Credit Card, Debit Card, Bank transfer, and Skrill.
Transaction Fees: 0-0.16% maker fees and 0.10-0.25% taker fees. You can deposit $100/day with no ID verification.
KYC and Verification Process: No verification is needed.
Limits: Daily limit of deposit up to $3,000.00, and withdrawal limit up to $10,000.00.
Customer Service: Email and Chat support.
Countries Supported: Austria, Bulgaria, Denmark, Finland, Germany, Poland, Spain, Sweden, etc.
Pros of Credit Card Purchases
Here are some important pros of buying cryptocurrency with a credit card:
Risks involved in Bitcoin Credit Card Purchases
Here are some cons/ drawbacks of Bitcoin purchase using a credit card:
Currently, No. As most Bitcoins ATMs only accept cash. However, you can use your credit card to get cash at a normal ATM and then use the cash to purchase Bitcoin at the Bitcoin ATM.
You can buy Bitcoin with almost all credit cards like Visa, Master Card, American Express, Rupay, etc.
The fee of purchasing Bitcoin with a credit card depends on the payment method and the crypto exchange you are buying from. For example, an ATM or exchange may charge either a fixed amount or a percentage of the purchase amount.
These fees can be $10 (Fixed) or 3-5% (Based on the transaction), whichever is greater. Credit card companies have also started to consider buying Bitcoin as a cash advance.
Also Check: Cheapest way to buy Bitcoin
Yes, you earn Bitcoin rewards, but chances are very less, as only a few credit card providers offer a reward for purchasing Bitcoin using a credit card.
» Check here our list of the Best Crypto Debit/Credit Card
Yes, The process of buying Bitcoin with a prepaid card is similar to buying crypto with a debit or credit card. The only difference is that we can count a selection of prepaid card options instead of credit card selections.
Also Check: Best Crypto (Bitcoin) Friendly Banks in US, Canada, Europe
It completely depends on how much you trust the exchanges. Like any other information you share online, there is always the risk that it can be either stolen or hacked from the website you have given.
Moreover, Bitcoin exchanges are prone to security flaws because they are constantly under attack. Therefore, there is always a risk of anything related to information online