How to Buy Bitcoin with a Credit Card




For many individuals, credit cards have become very important tools for financing both small and large personal purchases or investments. In the last couple of years, Bitcoin has been a red-hot investment, and many individuals have had to consider buying this lucrative digital asset using their credit cards. Credit cards are a safe and convenient payment method for many people, and nowadays, they are accepted in many places where you can buy Bitcoin. The obvious appeal for buying Bitcoin with a credit card is that the digital asset can deliver gains that will be more than enough to cover the debt and any related fees. But there are also some risks. In addition to fees, Bitcoin is a very volatile asset and huge negative price swings can result in holding a coin that is worth less than the credit card debt accrued.

Considerations when Buying Bitcoin with a Credit Card

Generally, it is considered unwise to buy volatile assets with debt. But credit cards, when utilized responsibly, can be very advantageous. It is therefore important to consider some factors before buying Bitcoin with your credit card. These factors include:

  • Fees

There are a lot of associated fees when you decide to buy Bitcoin with a credit card. Cryptocurrency exchanges typically charge some fees for depositing funds with credit cards. Credit card companies also charge different types of fees. Most companies treat Bitcoin purchases as a cash advance, and this will attract an APR (Annual Percentage Rate) of about 25%. This interest will be effective immediately and will continue to accrue until the debt is paid off. There will also be foreign transaction fees if you decide to buy Bitcoin from an exchange outside your country of residence. Other potential fees that may come about include late payment fees, balance transfer fees, over-the-limit fees, and returned payment fees. It is important to consider all the fees that will contribute to increasing your overall purchase price of Bitcoin, as well as avoid the penalty fees that will likely eat into your potential gains.

  • Credit Utilization Ratio

Building one’s credit score is one of the main reasons people use credit cards. Also, the credit utilization ratio is a major component that credit rating agencies use to calculate your credit score. The credit utilization ratio is the amount of your available credit limit that is utilized. For instance, if you have a credit limit of $1,000, and you decide to use debt of $500, it means that you have a credit utilization ratio of 50%. Generally, financial experts advise people to keep their credit utilization ratio below 30%. Bitcoin is now a very valuable digital asset and buying it using a credit card can use up your available credit and negatively impact your overall credit score. When using credit cards, it is therefore important to buy an amount of Bitcoin that does not diminish your credit utilization ratio to unfavorable levels.

  • Rewards

Credit card companies offer various types of rewards for certain types of spending categories. Typically, every qualifying purchase will earn points that can be redeemed for items such as gift cards, travel perks, shopping vouchers, and frequent-flyer miles. These rewards can add up quickly and make it worthwhile for you to use your credit card frequently. Unfortunately, most mainstream credit card companies treat Bitcoin and other cryptocurrency purchases as cash advances that are ineligible for most reward options. But there are some Bitcoin-centered credit cards that offer rewards when you use them to buy cryptocurrencies. Some of these cards include the BlockFi Bitcoin credit card, Brex credit card, and SoFi credit card. There are also some cryptocurrency exchanges such as Coinbase, Binance, and that will offer different types of rewards when you use credit cards to purchase bitcoin via their platforms.

  • Safety

For individuals, credit cards are fairly safe to make payments. But if you use them to buy Bitcoins in controversial places, you may end up exposing your private details to potentially unethical persons. It is therefore vital to use credit cards to purchase Bitcoin from safe places where your personal and financial details will not be compromised.


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The Best Places to Buy Bitcoin using Credit Cards

Here are some of the best places you can safely and conveniently but Bitcoin using credit cards:


Binance is the largest cryptocurrency exchange in the world. Binance users can trade Bitcoin as well as over 500 over cryptocurrency pairs via its desktop and mobile applications, as well as its website. Binance prides itself as the most professional cryptocurrency exchange, offering advanced charting tools, innovative order types, and relatively lower trading fees. Its wide range of available trading assets includes trending meme coins such as Dogecoin, as well as the popular NFTs (non-fungible tokens). The company also has excellent support, with customers able to raise issues on their platform as well as directly on social media via their interactive Twitter handle. However, there have been concerns about the company as well. To start with, the Binance platform is very complex, and new traders may have to take some time to learn how to navigate it with ease. Binance also has restrictive access in the US and numerous other important crypto locations. Furthermore, Binance has faced regulatory and legal issues in many places such as China and the US.

To access more information about this leading crypto exchange, read our full Binance review.

Opening a Binance Account

  1. Visit Binance website
  2. Click on the ‘Register’ button on the top right section of the homepage
  3. Fill out the registration form with your details
  4. Verify your details and confirm your email address

Buying Bitcoin with a Credit Card on Binance:

  1. Click on the ‘Buy Crypto’ button on the homepage
  2. Select ‘Debit/Credit’ card
  3. Enter your credit card details
  4. Choose the amount you wish to spend
  5. Click buy ‘bitcoin’


Founded in 2012, Coinbase is a popular cryptocurrency exchange platform and the largest one located in the US. The company now boasts over 73 million users who average a trading turnover in excess of 300 billion every quarter. Coinbase has become a major crypto player and is even listed on the Nasdaq. The company allows its users to trade Bitcoin and more than 100 other altcoins on their two platforms: Coinbase Original and Coinbase Pro. Coinbase Original is very user-friendly, making it suitable for beginners as well as other investors who just need a basic trading platform. On the other, Coinbase Pro is designed for experienced traders who will appreciate advanced trading features such as in-depth charting tools, market analysis, and other professional features. Cryptocurrency exchanges have had turbulent times when dealing with regulators in various jurisdictions, but Coinbase has always cut a reputation as a regulation-friendly broker that is secure for its customers. Despite this, Coinbase has been criticized for its relatively higher fees and a limited selection of altcoins. The exchange is also known to have slow response times for customer support inquiries.
learn more about the Coinbase crypto exchange.

Opening a Coinbase Account

  1. Visit the Coinbase website
  2. Click on the ‘Get Started’ button on the top right section of the homepage
  3. Fill out the registration form with your details (name, email, and password). Additional details may be required depending on your location
  4. Verify your details and confirm your email address

Buying Bitcoin with a Credit Card on Coinbase

  1. Log into your account and navigate to the ‘Payment Methods’ section
  2. Select ‘Add a Debit/Credit’ card
  3. Enter your credit card details
  4. After successfully adding your card, click on ‘Buy Digital Currency’
  5. Choose ‘Buy Bitcoin’

Founded in 2013, is a UK-based crypto exchange that proves a safe and secure platform for trading Bitcoin and over 80 other altcoins. has distinguished itself as an innovative crypto exchange and brokerage platform and is famous for being one of the first-ever to support crypto/fiat pairs. features high security, a reliable and stable platform, excellent customer support, and a very user-friendly interface. Customers can trade bitcoin and other digital assets with relatively low fees on both desktop and mobile platforms. Additionally, supports margin trading, staking rewards, as well as crypto-backed loans for its customers. The exchange also offers a Prime Platform that is suitable for institutional investors, with features such as automated trading, flexible order execution, as well as convenient payment methods. However, also has some limitations. Customers have pointed out its limited coin selection and the unavailability of its services in important crypto jurisdictions such as China, the US, and South Korea. Access our comprehensive review on

Opening a Account

  1. Visit the exchange website
  2. Click on the ‘Register’ button on the top right section of the homepage
  3. Open an Individual or Business account by filling out the registration form
  4. Verify your details and confirm your email address

Buying Bitcoin with a Credit Card on Coinbase

  1. Log into your account and navigate to the ‘Finance and Deposit’ section
  2. Click on ‘Buy Bitcoin with Credit Card’
  3. Enter the amount you wish to spend, and you will be redirected to enter your credit card information
  4. Follow the prompts and click on ‘Buy Now’

Peer-to-Peer Crypto Trading Sites

You can also buy bitcoin using a credit card on peer-to-peer Bitcoin marketplaces such as LocalBitcoin, Paxful, and Remitano. These sites offer numerous sellers that accept various types of payment methods, including credit cards. It is a little riskier and inconvenient to buy bitcoin using credit cards on P2P sites compared to other payment methods. This is because you will have to perform due diligence so as to filter out bad sellers. It is also important to note that you will be sharing your credit card information with a third-party individual, and not these P2P sites.

To buy Bitcoin on P2P sites, simply search for sellers that accept Credit Cards as a payment method. To select the best seller, consider other factors such as reputation score, trading history, availability, limits, pricing, as well as terms and conditions. Typically, P2P sellers that accept credit cards tend to charge high fees.  

Final Word – Buying Bitcoin With a Credit Card

Credit cards are a safe and convenient payment method for many people. Buying Bitcoin with a credit card is now possible, but it should be done responsibly. It is important to consider the risks involved such as credit card fees and interest rates, as well as the underlying volatility of Bitcoin. It is also important to buy Bitcoin using a credit card on reputable exchange platforms where the safety of your personal and financial information is guaranteed.

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