How to buy Bitcoin with credit card

One of the most common methods used to exchange fiat currency for bitcoin is through a bank card. We'll show you how it's done.
By: Harry Atkins
Harry Atkins
Harry joined us in 2019, drawing on more than a decade writing, editing and managing high-profile content for blue… read more.
Updated: Jun 23, 2021
Tip: our preferred broker is, eToro: visit & create account

In order to use a credit or debit card, you need to find a trading platform that accepts it as a payment method. This guide takes you through how to find one, and the process involved when you do. Credit and debit cards are a popular way to fund trading accounts because the transactions go through instantly, as opposed to other payment methods, such as bank transfer, which can take up to 5 business days to complete.

Where can you buy Bitcoin with a credit card?

If you just want to find a broker that offers Bitcoin and accepts card payment, then use one of the platforms below. We have assessed all the options and created this list of the best of the best so that you can get started straight away. Otherwise, keep reading to learn more about which features to look out for and how to use a broker.

1
Min. Deposit
$50
Exclusive promotion
Our score
10
Accepts customers from the USA
Offers 15 crypto coins to buy&sell including BTC, LTC, ETC, NEO and more
Trade on the world's leading social trading and investing platform
Start Trading
Description:
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Payment Methods
Wire Transfer, Bank Transfer
Full regulations list:
CySEC, FCA
2
Min. Deposit
$20
Exclusive promotion
Our score
9.3
Margin Trading with full legal compliance
Cryptocurrency staking
Various Payment options
Start Trading
Description:
Cex.io offers exchange of fiat currency for Bitcoin Ethereum, Tether, and 23 other cryptocurrencies, as well as Bitcoin/Ethereum trading against the USD.
Payment Methods
Credit Card, Debit Card, Wire Transfer, Cryptocurrencies, Skrill
Full regulations list:
3
Min. Deposit
$10
Exclusive promotion
Our score
8.7
The broker offers access to a trusted MetaTrader trading system
Pricing is ensured to be completely transparent, also providing accuracy and speed
Trade a Wide Variety of Assets with Leverage up to 1:500
Start Trading
Description:
LonghornFX is a true ECN STP broker dedicated to delivering a superior trading experience to traders no matter their level of experience. Their services are based on transparency, innovation and efficiency, ensuring an unparalleled trading experience for all.
Payment Methods
Credit Card, Debit Card, Visa, Bitcoin
Full regulations list:
LonghornFX offers high-leverage trading on a wide variety of assets. Trading with leverage carries a degree of risk which may result in losing more than your investments. Clients should practise risk management to protect themselves from losing more than they can afford when trading with leverage.

What’s the difference between broker platforms, exchanges, and wallets?

Choosing whether to use an online broker platform or an exchange depends on what your goals are and how quickly you want to see returns. Here is a quick summary of the different platforms, as well as what makes a wallet unique.

Exchange

An exchange is a marketplace that connects buyers and sellers, and allows transactions between them. They often offer the best prices as they are set in real time by the forces of supply and demand, rather than being set by the platform itself.

Broker platform

A ‘broker’ offers coins at a fixed price, so that you can get them instantly. Generally, the broker takes the other half of the trade, rather than matching you with another user as an exchange would do. Often these platforms offer CFDs, or contracts for difference, which are essentially notes that represent the value of an asset and allows you to trade Bitcoin without owning the coins themselves.

Wallet

A wallet is essentially a bank account: it is an address that stores your bitcoin and allows you to send or receive bitcoin to/from other wallets. Wallets are best suited to long term investors, as each one comes with two separate strings of numbers and letters known as ‘keys’: a public key (used to receive bitcoin) and a private key (used to send bitcoin to other wallets). You need these whenever you want to transfer coins to or from the wallet.

Therefore, if you’re looking for bitcoin at a competitive rate and capitalise on fluctuations in price, then you’ll want to sign up to an exchange or CFD platform. The key difference between these two types of service is that on an exchange you buy and store the coins yourself, whereas with a CFD platform you trade without the hassle of actually owning them.

Should I buy bitcoin with a credit card?

It depends. Cards are a quick and convenient method to fund your broker account, but transactions usually have fees of 1-5%. Some platforms also limit how much you can spend on any one day, and many only accept debit card payments, so will not let you deposit money from a credit card.

Why aren’t credit cards more widely accepted?

Because of the way credit cards function, they are riskier than using a debit card. Unlike debit cards, where money is debited straight from your balance, credit cards charge funds to your line of credit. Given the fluctuations in the Bitcoin price, this means that the value of any coins you own might be significantly different to the price they started at when it comes to paying off the debt. This is one reason why many platforms don’t let you use a credit card.

Additionally, credit card payments are reversible whereas bitcoin transactions aren’t. This poses the risk that someone could cancel the payment after they have received the coins. Even if you find a platform that accepts credit card payments, it’s not certain that your bank will allow the transaction to go through – so it’s always a good idea to check with your bank beforehand.

What about prepaid cards?

Most companies allow their users to use prepaid cards. Like debit cards, prepaid cards provide some sense of security, as you are using funds that are already in your account rather than billing the transaction to your credit line. Alternatively you can use other payment methods, such as PayPal, or a bank transfer.

Is using a card the best method?

It depend – if your primary concern is fast transaction speeds, using a card is a great option. But if you’re looking to get a large amount of coins at once, other options may be preferable.

The limits on how much bitcoin you can get at a time using a card usually start around £100 a day (although these can rise over time and on some platforms they’re considerably higher). Transaction fees can also be quite high, especially when using a credit card. Typically these fees are between 1 and 5%, but they vary and can be more.

How to buy Bitcoin with a credit card – a step-by-step guide

Now you know what your options are, you need to know how to put them into practice. That’s why we’ve outlined all the steps right here. If you’re already familiar with how it’s done and have specific questions you need answering, then skip to our frequently asked questions section at the bottom of the page.

What do I need to do before I get started?

You’ll need to provide some information to sign up to a service. Spending bitcoin is completely anonymous, but in order to verify your account and to combat fraud there are a few things you need to have with you. To get started you need to prepare your:

Method of payment

Whether you’re using a credit card, debit card, bank transfer, or PayPal to fund your account, you’ll need to have your account details to hand and make sure there are no restrictions on payments of that type through your chosen service.

Proof of identity

You’ll almost always be asked to supply valid photo ID to prove your identity when signing up to a platform. A passport or driving license is most commonly required and you’ll often be asked to supply a selfie of you next to it to verify it’s yours.

Proof of address

Along with photo ID you’ll be asked to supply proof of your address, generally in the form of a utility bill or a bank statement. If you don’t have access to these documents, others are sometimes accepted. This will, however, depend on the platform so be sure to check you have the right forms of ID before signing up to a particular service.

Exchange or broker platform

Now decide which type of platform you want to use. Consider what you want to get out of your investment, and then find the service that best matches your aims from the summaries above.

The final steps

Alright, you’re ready to sign up and make your first move. Let’s get started.

  1. Visit site and open a free account. Select a service from our list and click the link. Once you’ve arrived on your chosen platform, select the option to register an account.
  2. Fill out personal details. Fill out the required details to register a new account. This will usually be your name, email address, and country of residence. On most platforms this form will also be where you set your account password. If not, then:
  3. Create password. It’s very important to have a solid password, especially on an exchange as your account will be used to store your bitcoins. Make sure to include a mixture of letters and numbers and make your password memorable. In a few cases there won’t be an option to create a password at this stage. This will mean one has been randomly generated and in your confirmation email (see next step) there will be a link to change your password. Make sure you do this as nothing is more important than the safety of your account.
  4. Activate account. In the majority of cases the next step is to check your inbox for an account verification email which will include a link to activate your account. As mentioned above, for some services this will also be the point at which you set or change your password.
  5. Fund account or make payment. In most cases, you’ll have to transfer money into your account balance, and in other cases you’ll be able to make a direct payment. Either way, there are a variety of methods to pay for your bitcoin. We’ve summarised them for you here:
    • Bank transfer. You’ll need to acquire the destination bank details from the site, key in your own account details and the amount of money you wish to transfer. Bank transfers commonly take between 1 and 5 days to go through.
    • Card payments. Depending on the platform you’ll either have to add your card details to your account, or simply enter your card details and make a one-off payment. The process is the same as using your card on any online shopping site.
    • PayPal/other. If your platform accepts PayPal (many of them don’t), then you’ll simply have to select the option to pay with PayPal. This will direct you to a page that will enable you to pay from your PayPal into the account you’ve created on the platform. You’ll want to ensure that your PayPal account is active, funded and has no restrictions.
  6. Make your purchase. If you’ve made a payment, congratulations! You’ve bought your first bitcoin. If you’ve transferred funds into your account then you’re just one small step away: simply follow the link on the platform to find the Bitcoin price and use the money deposited in your account. Choose how much bitcoin you want and confirm the transaction. Done!
  7. Additional: Withdraw to wallet. If you’re using a broker, you’ll need to set up a wallet to which they can send your coins. If you’re using an exchange there will be an integrated wallet you use to store and trade coins, but you can create an external wallet into which you can transfer coins for extra security. If you’re using a CFD platform, you don’t need a wallet as the coins are handled within the platform.

Should I buy BTC with a credit card?

Pros

  • It’s a fast and easy method
  • Credit/debit cards offer you secure transactions
  • Bitcoin is protected from fiat (normal) currency inflation
  • You can use bitcoin as a swap for other cryptocurrencies as well
  • You can spend bitcoin anonymously

Cons

FAQs

ℹ Can Bitcoin replace cards?
ℹ Is Bitcoin better than fiat currency?
ℹ Can I convert bitcoins back to my card?
ℹ Can you buy other cryptocurrencies using card?
ℹ Can I use my credit or debit card on Coinbase?
ℹ Can you buy Bitcoin with a stolen credit card?
ℹ Can I use a prepaid debit card?
ℹ What are the risks involved when using cards?
ℹ Will buying bitcoin with debit and credit card actually work?
ℹ Can I buy anonymously with no ID?
ℹ Why are there no easier methods of buying bitcoin?
ℹ What’s the fastest way to buy bitcoin?
ℹ What are the fees for transactions?
ℹ What are the fees for depositing funds?
ℹ What are the fees for withdrawing funds?
ℹ Where do I buy coins?
ℹ Should I leave my coins on an exchange after I buy them?
ℹ If the limits aren’t high enough, can I buy coins on multiple exchanges?
ℹ Why do I have to buy bitcoin in order to buy other cryptocurrencies?

Fact-checking & references

Our editors fact-check all content to ensure compliance with our strict editorial policy. The information in this article is supported by the following reliable sources.

Risk disclaimer

Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >

Harry Atkins
Financial Writer
Harry joined us in 2019, drawing on more than a decade writing, editing and managing high-profile content for blue chip companies, Harry’s considerable experience in the… read more.