How To Buy Bitcoin With A Credit Card

Many investors have the desire to buy Bitcoin because it holds the top spot in market capitalization. By the way, it also has worldwide fame and recognition. In today’s fast-paced world, the most convenient payment tool is often a credit card. However, in the crypto space, you need to know some specifics to avoid mistakes using it. We will explain whether you can purchase Bitcoin with a bank card, which is also available on the Cryptomus platform, and how reliable and convenient this method is.

Can You Buy Crypto With A Credit Card?

Yes, you can get Bitcoin and other cryptocurrencies with a plastic card, but there are a few essential factors to consider. First, check the policies of your bank. Not every financial institution allows transactions related to digital assets. For example, use a Visa to purchase digital funds.

At the same time, not all crypto exchanges and platforms offer the option to buy Bitcoin with CC. Among these options is Cryptomus, where you can get BTC with just a few clicks. We recommend choosing a third-party provider for a safer deal. These platforms facilitate the exchange of fiat money for cryptocurrency and act as intermediaries between users and markets.

Where To Buy Crypto With A Credit Card?

Today, there are numerous methods to purchase virtual coins, but not all of them are equally secure. Let's start in order:

• Centralized (CEX) Exchanges And P2P Platforms

CEX gives a user-friendly interface, a high level of security, and a wide variety of coins. Major international exchanges fall into this category, operating under regulatory authorities and requiring account verification. So, CEX is generally the preferred way.

P2P platforms are a part of centralized exchanges, directly connecting merchants and customers. They offer more flexibility in payment methods, including bank cards. But the security of the transaction depends entirely on the integrity of the counterparties. So, users need to exercise caution.

• Decentralized (DEX) Exchanges

These platforms are among the most popular options, as these exchanges allow customers to make transactions with Bitcoin without third-party providers. However, this kind might not be available for every fiat unit. The key difference between centralized and decentralized platforms lies in the level of anonymity. DEX offer greater privacy but are often less beginner, making the process with a credit card more complex.

• Online Wallets And Exchange Services

Some crypto services allow you to buy with a credit card. These platforms are convenient and require minimal verification, making them a pleasant choice for quick deals. But there’s the flip side of the coin: the confidentiality of your data and the reliability of the transaction depend on the intermediary.

Among such options, Cryptomus offers multiple services. You can buy Bitcoin with a credit card via an online wallet (and via P2P). We will tell you how to purchase via wallet later in the detailed guide. To buy via P2P, go to the exchange page, choose a merchant who sells Bitcoin and accepts payment in the same bank system as you, and make a deal. Additionally, the low fees are a pleasant bonus!

Things to Consider When Buying Bitcoin With CC

As we've mentioned earlier, purchasing cryptocurrency with a credit card can come with higher fees. But, beyond the cost, several other factors need to be considered:

• Fees

Before you buy any digital asset, it's wise to explore many different platforms and calculate the potential costs. Transaction fees generally range from 0.1% to 3%, depending on the exchange. Sellers might also add fees based on their location, the place of purchase, or the type of card used.

On average, credit card fees hover between 3% and 5% of the total amount. Many cryptocurrency stocks also charge a "spread", which is essentially a markup on the purchase price of the crypto. This spread is charged on top of other transaction fees.

In addition to the basic platform fees, there could be extra charges from your bank, such as foreign transaction fees. Make sure to investigate this aspect before completing your deal.

• Limits

Every platform and bank imposes its own limits on the amount you can spend. These restrictions usually start at $10–50, while the maximum depends on the user's verification level. For basic verification, the range typically spans from $1,000 to $5,000, while fully verified users can transact between $10,000 and $50,000 per day. Beginners may encounter lower limits, but over time, trusted platforms allow users to request increases.

• Transaction Time

In most cases, buying cryptocurrency with a credit card happens almost instantly. However, delays can occur due to payment verification processes by either the bank or the platform. The fastest and cheapest options are usually P2P or decentralized exchanges, where transactions take around 5 minutes. On several exchanges, the procedure can take 1–2 hours, depending on the platform's load.

A Step-By-Step Guide To Buy Bitcoin With CC

To help you navigate the process of buying Bitcoin with a credit card, we've prepared a step-by-step guide. The actions might slightly differ depending on the platform. The following algorithm focuses on purchasing Bitcoin through Cryptomus.

Step 1. First, create an account on Cryptomus. You can do this using an existing account on any convenient social network. For example, Google, Telegram or Facebook. Also, enhance your data security with a strong and complex password.

Step 2. After registration, you'll need to enable 2FA and complete the Know Your Customer (KYC) procedure. Follow the actions below:

1. Click on your account icon in the top right corner.

2. Open your personal settings.

3. On the third line, you’ll see a “KYC Verification” button; click on it. You are on the right track!

4. Next, you will need to take a photo of your identity card and then a selfie. This way, you will confirm your identification. After passing KYC, a confirmation should appear.

Step 3. Then, click on “Personal” and select “Receive”.

Step 4. Choose BTC as the cryptocurrency you want to buy and select the appropriate network. When buying crypto with a credit card, pick “Fiat”.

Step 5. Click on “Receive via Mercuryo” and enter the amount you wish to spend in Bitcoin. The payment form will automatically calculate the equivalent amount in BTC.

Step 6. Enter your email to receive a verification code. Input the numbers in the designated field to confirm the transaction. Then, provide your credit card details.

Congratulations! You've successfully purchased Bitcoin using your credit card. We hope you found this guide and article quite informative and useful. If you still have questions, check out our answers to frequently asked questions.

FAQ

How To Send Bitcoin With A Credit Card?

It’s not possible to send Bitcoin directly using a bank card. They are only to purchase cryptocurrency. Once you’ve bought BTC, you can send it from the crypto wallet by specifying the recipient’s address.

Can I Buy Bitcoin With A Credit Card Without Verification?

Most platforms require mandatory identity verification. Unfortunately, it is possible to buy BTC without verification on most crypto trading platforms. Keep in mind, though, that these transactions carry higher risks, as sellers could potentially be scammers.

Why Can't I Buy Crypto With My Credit Card?

If you’re unable to buy cryptocurrency with your card, several factors could be at play. Some banks block crypto transactions due to their security policies. You might also face issues with card verification on the platform or exceed the set limits. In such cases, it’s advisable to contact your bank or try using a different card, crypto platform, or payment method.

Have you ever bought cryptocurrency with a plastic card? Share your experience in the comments!