Credit cards have become one of the easiest ways for investors to buy Bitcoin and other cryptocurrencies. In the past few years, credit cards were not a popular payment method because they were often involved in fraud. However, nowadays, many anti-fraud companies and brokerages have made it possible to buy Bitcoin safely and efficiently using credit cards.
Today, most reputable, regulated cryptocurrency exchanges accept credit cards as a fiat on-ramp to buying cryptocurrencies. We’ll review the best exchanges for buying Bitcoin with a credit card, provide screenshots of the purchase process, and tell you what to consider before you get started.
How to Buy Bitcoin with a Credit Card
Choose a Bitcoin exchange – We recommend OKX.
Create an account.
Select the credit card option to deposit funds into your account.
Search for "Bitcoin" in the drop-down menu.
Click "Open Trade" and select the amount of Bitcoin you want to buy.
Comparison of Bitcoin Exchanges
Since there are many cryptocurrency exchanges that allow you to buy Bitcoin using a credit card, you might be confused about which one to choose that is more efficient and secure.
In the list above, we considered some key factors to include brokerage platforms. First, we looked into their security systems and website security to recommend the most trustworthy and reliable brokers. Most of the trading platforms we listed are regulated by top financial institutions and have strong privacy policies.
Secondly, we looked at their pricing structure, including the transaction and non-transaction fees charged by the broker. Some brokers and exchanges also charge hidden fees and include them in the price of the asset, so you have to be careful. As for transaction fees, the broker may charge commission fees, spread fees, or in some cases, both.
Finally, if you plan to buy and sell assets frequently, you should choose a broker with low commissions. Some companies do not charge fees, but others do. We also checked their non-trading fees such as withdrawal fees, exchange fees, deposit fees, management fees, etc., as these fees may also reduce your profits.
How to Buy Bitcoin with a Credit Card
In this section of our guide, we will show you step by step how to buy Bitcoin with a credit card using one of our recommended exchanges, OKX.
Step 1. Open an account
Getting started on OKX is very simple, you can download the free mobile app, or join the exchange through its website. Just enter an email address to get started.
Step 2. Verify your account
Next, new users must complete steps to verify their account and identity. This includes verifying their email address and phone number, as well as providing proof of personal identification and, in some cases, proof of address.
Once these steps are completed and checked, users can deposit funds.
Step 3. Deposit funds via credit card
OKX allows users to deposit fiat currencies in a variety of ways, including using credit cards, debit cards, bank transfers, and e-wallets.
There are no fees for deposits and withdrawals, and the minimum amount is $1.
Step 4. Buy Bitcoin
Once you have funds in your OKX account, you can buy Bitcoin. Go to the home dashboard and search for "Bitcoin" or "BTC" in the search bar, then select it and click "Buy."
Next, enter the amount you want to buy (the minimum is $30) and follow the steps to make your purchase with a third-party broker like Wert or MoonPay – they are both trustworthy but may offer different exchange rates.
Once you have made your selection, simply follow the steps to complete the transaction. The Bitcoin will appear in your wallet under "Portfolio".
Buy Bitcoin instantly with a credit card without verification
There are several ways to buy Bitcoin instantly using a credit card without going through any verification process. However, we should first mention that these options involve a higher risk of data breaches and fraud – they are not as safe as trading with a regulated broker, as top brokers provide strong security for your information and funds.
Many cryptocurrency exchanges that support buying Bitcoin with credit cards without verification are not regulated. Therefore, you must be careful not to provide your card details to vulnerable platforms.
Another option is to buy BTC from a Bitcoin ATM. You can check the Bitcoin ATM map to see if there is an ATM near your location and buy Bitcoin using a credit card. But this method also has its drawbacks, especially high fees and availability.
Pros and Cons of Buying Bitcoin with a Credit Card
There is no perfect payment method in every sense – some payment methods take longer to transfer money, some payment methods may require higher transaction fees, etc. Therefore, you need to choose the one that best meets your requirements. Before you start, you can find the pros and cons of buying Bitcoin with a credit card below.
advantage
Credit cards can buy Bitcoin instantly compared to wire transfers, where purchases can take days.
Some strictly regulated brokers and cryptocurrency exchanges accept credit cards as a payment option.
This is a more user-friendly and straightforward way to buy cryptocurrency.
Credit cards offer more security in this regard as they are faster than other payment methods.
There are certain limits on the quantity you can buy, which helps you invest prudently.
shortcoming
It may have a negative impact on your credit score.
Cryptocurrency exchanges may charge higher fees for using credit cards.
Some brokers and exchanges may also limit the amount of Bitcoin you can buy with a credit card.
Withdrawing Bitcoin from a Brokerage Account
After acquiring Bitcoin, you can create a personal Bitcoin account and withdraw your cryptocurrency to store more securely in a Bitcoin wallet. But whether you can do this depends on how you purchased it. If you trade BTC via CFDs, you do not own the asset, but only speculate on its price. Therefore, in this case, you cannot withdraw Bitcoin and send it to a personal wallet.
If, on the other hand, you buy Bitcoin directly on a cryptocurrency exchange, you can transfer your Bitcoin to a more secure private wallet. First, you need to find a platform that offers Bitcoin wallet accounts, create one, and complete the transfer. You can find more information in our guide How to Open Your Free Bitcoin Account.
Where to buy Bitcoin with a credit card in December 2023
Nowadays, it is crucial to choose a trustworthy broker when buying Bitcoin with a credit card. This is because you are trusting valuable information about your identity with your credit card details. If someone is able to hack into your brokerage account, they can also access your credit card and all checking accounts associated with it.
With this in mind, we have listed below the safest brokers for buying Bitcoin with a credit card. These brokers stand out due to their good regulation, pricing system, and other important features.
OKX – Credit Card Broker for Buying Bitcoin with Low Fees
We recommend as one of the best cryptocurrency exchanges to buy Bitcoin with a credit card
OKX
.
OKX was launched in 2017 and reached its peak as one of the better cryptocurrency exchanges in mid-2022. Currently, it is the fifth largest cryptocurrency trading platform in the world by market capitalization.
OKX launched the ability to purchase Bitcoin using credit cards and other fiat currencies in the first quarter of 2023. In addition to this across-the-board addition, OKX has also integrated other features such as copy trading and trading bots to make Bitcoin trading more accessible to investors.
OKX supports basic trading, derivatives trading, and margin trading. Users can also convert their holdings into BTC or other assets without paying additional fees. Under the Grow program, OKX provides lock-up and other services that allow users to earn passive income through their BTC holdings.
OKX adopts a market maker/taker fee model. Although initially 0.080%/0.1%, fees can be further reduced by holding OKB tokens (OKX exchange’s native cryptocurrency). VIP traders with more than $100,000 in assets in their OKX trading accounts also enjoy lower trading fees.
advantage
Supports over 350 cryptocurrencies
Allow users to buy Bitcoin with credit cards
Provide copy trading function
Trading robots available
Support block transactions
shortcoming
Not available in the United States
You need to hold OKB tokens to reduce transaction fees
Visit OKX
Bybit – A beginner-friendly platform to buy Bitcoin with a credit card
Bybit
It is a beginner-friendly platform with a variety of comprehensive features that allows users to buy Bitcoin using credit cards.
While the platform itself does not charge any fees, credit card payment service providers may charge some fees.
In addition to Bitcoin, Bybit also supports more than 100 cryptocurrencies. Users can also trade more than 300 trading pairs on Bybit. Bybit supports spot trading and margin trading. BTC/USDT is one of the leveraged trading pairs, allowing users to short the trading pair with 3x leverage.
Bybit also provides users with an overview of the cryptocurrency market, where users can view a list of the most traded cryptocurrencies and the top gainers based on their area of interest.
Bybit’s security features are also excellent, with a focus on protecting users’ assets. One of these features is Proof of Reserves. Bybit’s Proof of Reserves is fully audited and allows users to view their reserves.
advantage
Supports over 100 cryptocurrencies
Provides a simplified user interface
Users can use credit cards to buy Bitcoin
Low Fees
Provide trading robots and copy trading functions
Support margin and spot trading
shortcoming
Not available in the United States
Visit Bybit
Libertex – Platform for buying Bitcoin with no spread
Libertex is an excellent no-spread CFD trading platform designed for those who want to actively trade financial instruments. Founded in 1997, the broker is one of the most trusted trading platforms, having won more than 30 industry awards. In addition to its well-designed in-house trading platform, Libertex also supports MetaTrader4 and MetaTrader5 trading platforms.
Unlike most CFD trading platforms, this broker does not charge a bid-ask spread, but instead charges a very competitive fixed commission fee.
Libertex
There are no withdrawal and deposit fees, registration is free, and there are no management fees or account fees. Therefore, the only cost of using the platform is a monthly inactivity fee of 10 euros after three months of inactivity.
advantage
Buy Bitcoin with no spread
Support for MetaTrader 4 and MetaTrader 5
No withdrawal/deposit/account fees
Strictly regulated
24/7 Operation
shortcoming
Not accepting US investors
Bitcoin can only be purchased through MetaTrader4
Only CFD trading is supported
Visit Libertex
Capital.com – Buy Bitcoin via AI Trading Platform
As a completely new CFD trading platform in the industry, Capital.com has earned a good reputation among its users. The platform accepts clients from more than 50 countries around the world and offers a variety of innovative trading tools. Capital.com supports a wide range of assets, including 29 cryptocurrencies, and clients can trade using AI-based solutions.
The platform offers four types of trading accounts – Standard, Plus, Premier and Invest, each suitable for different levels of traders. In terms of trading fees, the broker does not charge commissions, but does charge variable spreads, with a spread of 0.5% for BTC trading. The minimum deposit fee is £/$/€20, depending on the trading account you choose.
Finally, the platform accepts a wide range of payment methods, including credit cards, debit cards, wire transfers, and e-wallets. Capital.com also stands out for its strict regulation – the broker is regulated by three Tier 1 agencies (ASIC, FCA, and CySEC) and the National Bank of the Republic of Belarus.
advantage
Using artificial intelligence technology to provide trading insights
Low spreads and no commissions
Multiple payment options including credit cards
Over 200 cryptocurrencies to choose from
Wide selection of assets
Start trading with low deposit
Multiple account options
shortcoming
Only CFD trading is available
High deposit requirements for professional accounts
Visit Capital
Coinbase – Buy Bitcoin with a Credit Card in the US
Coinbase is a US-based cryptocurrency exchange known for its excellent user interface and trading tools for all types of traders. While Coinbase is most well-known in the United States, it also accepts clients from other countries and has 68 million users worldwide. The exchange offers two types of accounts – Standard Account and Coinbase Pro. The former is best suited for those who want to make a one-time purchase and buy and hold a variety of cryptocurrencies, while Coinbase Pro is for active cryptocurrency traders looking for an advanced trading platform and low fees.
Compared with other platforms,
Coinbase
The commissions charged are relatively high, and a certain fee is charged every time an order is placed to buy or sell. In addition, there is a deposit fee of $3.99 when transferring funds using the bank card payment option.
In total, Coinbase supports trading in over 50 cryptocurrencies and over 60 cryptocurrency trading pairs, while also accepting 40 fiat currencies for BTC and 7 for ETH. You can also use USD Coin (USDC) to access other cryptocurrencies.
advantage
Excellent mobile trading apps for Android and iOS
A cryptocurrency exchange with a good reputation
Additional Coinbase Pro accounts for professional traders
Supports more than 60 cryptocurrency trading pairs
High liquidity
shortcoming
Fees are higher than most other platforms
No phone customer support
Visit Coinbase
Plus500 – Buy Bitcoin outside the US with no commission
Plus500 is one of the most trusted CFD trading platforms with clients in more than 50 countries. It is a no-commission broker with competitive spreads, high leverage and easy-to-use web-based and mobile trading applications. In addition, Plus500 is a very trustworthy platform as it has licenses from regulatory financial institutions such as ASIC, FCA and CySEC.
In terms of non-trading fees, the broker does not charge any withdrawal fees, but does charge a currency conversion fee. There is also an inactivity fee of $10 per month if you have no activity for three months. Plus500 requires a minimum deposit of $100, and you can transfer money via a variety of payment methods, including credit cards.
The broker offers web trading through its WebTrader online platform and provides trading apps for Android, iPad, and iPhone users.
In addition to Bitcoin and other cryptocurrencies, the broker supports many other assets including ETFs, indices, forex, commodities, and more.
advantage
Well regulated by top financial institutions
Competitive spreads
No commission on transactions
Well-designed platform
Provides trading apps for iPhone and Android users
Guaranteed Loss Stop Order
shortcoming
Only CFD trading is supported
Cannot operate in the United States
Lack of educational content
Visit Plus500
Brokerage fees for buying Bitcoin using a credit card
If you decide to trade with the platforms we recommend but still need more information to choose the best one, below we have compared the best brokers and exchanges for buying Bitcoin with a credit card in 2021:
Libertex
Capital.com
Coinbase
Plus500
Commission Fees
From 0.47% to 2.5%
No commission
1.49%
No commission
Spread
No spread
Spread + overnight fee
0.5% included in the price
USD/BTC is 0.30%, overnight fee
Deposit Fees
none
none
3.99% per bank card payment
none
Withdrawal Fees
1 Euro, 3-5 days
none
none
none
Inactivity Fees
€10 per month after three months of inactivity
none
none
$10 per month after three months of inactivity
Minimum deposit
100 EUR
$20 for a standard account
No minimum deposit required
USD 100
Everything You Need to Consider Before Buying Bitcoin with a Credit Card
Here are the main things to consider before you make your first credit card purchase of Bitcoin.
credit card:
Since you will be using a credit card to trade, first, you must research what type of credit cards the broker usually accepts for trading. After clarifying this, you need to check if the credit card you have is suitable for payment or if a new credit card needs to be issued. Usually, the top brokers accept
Credit cards issued by American Express, Visa and MasterCard.
Choosing a good broker:
Choosing a good brokerage platform should be your first priority as the right broker can save you a lot of money that you might lose in trading costs. Nowadays, it is becoming increasingly difficult to find a good broker as there are a large number of brokers offering their services on the internet. Therefore, it may take some time to choose the right platform. However, you can also choose one from our recommended list, which we have handpicked after carefully reviewing several such platforms.
Security:
Security is the primary concern when it comes to providing your card details to an unknown platform. That is why you must check if your broker is licensed and regulated by a Tier 1 financial institution. Security is the first thing we consider when offering you to trade with this or that broker. Therefore, we make sure that all the brokers we recommend have reasonable regulation and strong security systems.
Transaction and non-transaction fees:
Obviously, your broker does not provide services for free, and you will have to pay for them every time you use their services. This comes in the form of transaction fees and non-transaction fees. Some brokers charge higher prices while also charging additional hidden fees; others offer a pricing structure that is quite competitive in the market. In this case, choose the right broker that suits your trading style and how you plan to trade digital assets.
Trading hours:
Depending on the payment method you choose, your transaction may be processed in a shorter or longer time. Credit cards generally prioritize speed because transactions are quick and easy.
Bitcoin Wallet:
After buying Bitcoin as a long-term investment, it is not safe to leave it in your exchange account. Instead, you are better off setting up your own cryptocurrency wallet and transferring your Bitcoins. You can find out more about creating a Bitcoin wallet in our guide The 5 Best Bitcoin Wallets.
Taxation of Bitcoin Income in the United States
As mentioned earlier, the U.S. Internal Revenue Service imposes taxes on Bitcoin because digital currencies are classified as property. Therefore, every time you receive a return from trading Bitcoin, you must report your capital gains to the tax department and pay taxes as required by law.
Depending on how long you held your Bitcoin before selling it, the taxes applied to cryptocurrencies can be both short-term and long-term capital gains. Each type of capital gain is taxed differently, so you must check your
Internal Revenue Service website
, learn how your assets are taxed.
in conclusion
In conclusion, credit cards have become one of the most convenient ways to buy Bitcoin and other cryptocurrencies. There are certain things you must take into account before you get started. You must first consider your security, as you will be sharing information about your identity and credit card with the broker. Then, you need to find a platform that offers low fees for buying Bitcoin and does not have strict limits on the amount of Bitcoin you can buy using a credit card.
In these respects, all other brokers in our recommended list are excellent platforms for buying Bitcoin using a credit card. To get started, most exchanges and brokers require users to create an account, verify the account and deposit funds via credit card, then place an order to buy Bitcoin.
Visit OKX
Frequently asked questions
How to buy Bitcoin with a credit card?
You can buy Bitcoin with a credit card through a brokerage platform or a cryptocurrency exchange. The process is very simple – you need to open an account, verify your identity and deposit funds via credit card. In some cases, you can buy Bitcoin directly with a credit card, and the process is very similar to how you would do any transaction online.
Where can I buy Bitcoin with a credit card?
Today, there are many ways to buy Bitcoin with a credit card. However, the most reliable platforms are brokerage platforms with a good regulatory regime. All the exchanges and brokers we recommend are those we have carefully evaluated and recommend.
How to buy Bitcoin instantly with a credit card?
Using a credit card is usually the fastest way to buy Bitcoin. Although there may be additional fees, you will have your cryptocurrency in a few minutes or hours.
Where can I buy Bitcoin online with a credit card?
You can buy Bitcoin online with a credit card on brokerage platforms and exchanges. Our recommended platforms OKX, Coinbase, Capital.com, Libertex and Plus500 are all reviewed and recommended.
How to buy Bitcoin anonymously using a credit card?
For anonymous purchases of Bitcoin, you can usually buy Bitcoin on a cryptocurrency exchange that does not require verification. Some peer-to-peer marketplaces and exchanges will allow you to buy Bitcoin this way, such as Binance.
But the thing is, even if you skip the verification process, you have provided some personal information while registering your card details. Moreover, this method is not recommended as the verification process is highly recommended to protect your identity and security.
Credit Card Brokerage Fees for Buying Bitcoin Outside the US
If you decide to trade with the platforms we recommend but still need more information to choose the best one, below we have compared the best brokers and exchanges for buying Bitcoin with a credit card in 2021:
Libertex
Capital.com
Coinbase
Plus500
Commission Fees
From 0.47% to 2.5%
No commission
1.49%
No commission
Spread
No spread
Spread + overnight fee
0.5% included in the price
USD/BTC is 0.30%, overnight fee
Deposit Fees
none
none
3.99% per bank card payment
none
Withdrawal Fees
1 Euro, 3-5 days
none
none
none
Inactivity Fees
€10 per month after three months of inactivity
none
none
$10 per month after three months of inactivity
Minimum deposit
100 EUR
$20 for a standard account
No minimum deposit required
USD 100
Everything You Need to Consider Before Buying Bitcoin with a Credit Card
Here are the main things you need to consider before you make your first credit card purchase of Bitcoin.
credit card:
Since you will be trading with a credit card, first, you must research what type of credit cards the broker usually accepts for trading. After clarifying this, you need to check if the credit card you have is suitable for payment or if a new credit card needs to be issued. Usually, the top brokers accept
Credit cards issued by American Express, Visa and MasterCard.
Choosing a good broker:
Choosing a good brokerage platform should be your first priority as the right broker can save you a lot of money that you might lose in trading costs. Nowadays, it is becoming increasingly difficult to find a good broker as there are a large number of brokers offering their services on the internet. Therefore, it may take some time to choose the right platform. However, you can also choose one from our recommended list, which we have handpicked after carefully reviewing several such platforms.
Security:
Security is the primary concern when it comes to providing your card details to an unknown platform. That is why you must check if your broker is licensed and regulated by a Tier 1 financial institution. Security is the first thing we consider when offering you to trade with this or that broker. Therefore, we make sure that all the brokers we recommend have reasonable regulation and strong security systems.
Transaction and non-transaction fees:
Obviously, your broker does not provide services for free, and you will have to pay for them every time you use their services. This comes in the form of transaction fees and non-transaction fees. Some brokers charge higher prices and also charge additional hidden fees; others offer a pricing structure that is quite competitive in the market. In this case, choose the one that suits you best.
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