Buying Bitcoin with Credit or Debit Cards

Background

The process of buying Bitcoin with credit cards or debit cards is not too different from buying through automated clearing house (ACH) transfers. 

You can purchase cryptocurrency with a credit card if your card issuer and payment network allow the transaction type. Using your credit card to purchase cryptocurrency isn’t like most everyday credit card transactions. You will need to enter your card details on the exchange you’d like to purchase. Before you get into this you need to also be careful and check Bitcoin future price prediction because bitcoin is a highly volatile cryptocurrency. Read on to find out how the process works and the platforms where you can buy using debit or credit cards.

List of platforms where you can buy Bitcoin with a Credit or Debit card

• Binance :

Binance is one of the largest crypto platforms where you can buy Bitcoin with a Credit/Debit card. There are more than 200 altcoins available to trade in Binance. Binance charges 0.1% on every purchase and Sale.

• KuCoin :

KuCoin is a well-known crypto exchange platform where you can trade Bitcoin with Credit/Debit cards. KuCoin charges 0.1% on every trade.

• Coinbase :

One of the most popular platforms for Buying Bitcoin in the US is Coinbase. It accepts both Credit/Debit cards. Coinbase has 30 altcoins to trade. Coinbase charges 0.5% on every trade of any altcoins.

• Bitstamp :

Bitstamp is one of the oldest exchange platforms in the world. Bitstamp accepts payment with Credit/Debit cards. Bitstamp has 7 altcoins available on its platform. It charges according to the trading amount. So,  if your transaction is under 10000$, it charges 0.5%.

• Bitfinex :

Bitfinex is a HongKong based platform to trade altcoins. Bitfinex accepts payment with Credit/Debit cards; There are more than 150 altcoins available for trade. Bitfinex charges 0.2% to 0.055% and Withdrawal fees of 0.1%.

Is It Safe to Buy Bitcoin With a Credit Card?

Before you decide to purchase cryptocurrency with your credit card, you should be aware of how the process works and the potential fees associated with credit card payments toward purchasing Bitcoin. Credit cards incur a processing fee in addition to the transaction fees. At most exchanges, you can connect your debit or a credit card or your bank account directly. While you can use a credit card to purchase cryptocurrency, it is generally something that should be avoided because of the volatility that is typical of cryptocurrencies. 

Many large U.S. credit card issuers don’t allow Bitcoin, while others penalize cardholders with fees. If you don’t max out your credit card and are strategic, you’ll also enjoy the rewards of purchasing it with a credit card.

What Credit Cards Allow You to Buy Bitcoins?

American Express remains the lone holdout among major issuers to enable the purchase of cryptocurrencies. The best AMEX cards allow you to buy cryptocurrency directly. These include the Amex EveryDay® Credit Card, The Alliant Cashback Visa® Signature Credit Card, The Cash Magnet® Card,  USAA Rewards™ American Express® Card,  and the USAA Rewards™ American Express® Card.

Bottom line

Although credit cards aren’t your ideal payment option when it comes to buying Bitcoin, they have the advantage of instantaneous processing. You can purchase Bitcoin with a credit card if your card issuer and payment network allow the transaction type. For example, with American Express, Bitcoin purchases are permitted, treated as a cash advance, and subject to a cash advance limit.