Credit / Debit card

Buy cryptocurrency With a Credit Card

Here you'll learn how to buy BTC and other cryptocurrencies with credit card. Learn the pros and cons of debit cards and see how it compares to wire transfers.

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Popular Platforms for Credit Card Crypto Purchases

While credit cards offer the appearance of instant purchase on some platforms, cryptocurrency exchanges often impose holds for verification and security reasons, leading to potential delays in accessing your crypto. Furthermore, credit card purchases are frequently subject to significantly higher fees due to cash advance charges and interest, making wire transfers a more cost-effective option for many users.

Kraken

Most popular US-based exchange with a user-friendly interface

Processing: Instant for credit card purchases (may vary based on verification)

Limits: Minimum purchase: $10; Maximum weekly limit: $5,000

Fees: Transaction fee varies but typically around 3% for credit card purchases

Purchase Steps:
  1. Create an account on Kraken and verify your identity
  2. Navigate to the buy section and choose 'Credit Card'
  3. Specify the cryptocurrency and amount you wish to buy
  4. Provide your credit card details for payment
  5. Review and confirm your order
Credit card purchases may be treated as cash advances by some issuers, incurring additional fees and higher interest rates
Crypto.com

Advanced trading platform with institutional-grade security

Processing: Instant transactions

Limits: Minimum purchase: $20; Maximum purchase: $10,000 per transaction (varies by region)

Fees: 2.99% for credit card purchases

Purchase Steps:
  1. Sign up on Crypto.com and complete the identity verification process
  2. Navigate to the buy section and choose your desired cryptocurrency
  3. Specify how much of the cryptocurrency you want to buy
  4. Choose credit card as your payment method and enter your card details
  5. Review the transaction details and confirm to complete the purchase
ACH deposits through Plaid have an estimated processing time of up to five minutes. However, withdrawals have a hold of seven days
KuCoin

Prominent U.S.-based cryptocurrency exchange

Processing: Instant transactions

Limits: Minimum purchase: $5; Maximum purchase: $5,000 per day

Fees: 2.99% for credit card purchases

Purchase Steps:
  1. Create an account on KuCoin and verify your identity
  2. Go to the 'Buy Crypto' section and select 'Credit/Debit Card'
  3. Choose the cryptocurrency you want to buy
  4. Enter the amount you wish to purchase and provide your credit card details
  5. Review all details and confirm the transaction
KuCoin supports Visa and MasterCard, including credit, debit, and prepaid cards. The card must also support 3D Secure (3DS)

Credit Card vs Wire Transfer for Bitcoin & Crypto Purchases

Wire Transfer with ODT
  • Faster Settlement

    Funds usually available within the same business day.

  • Higher Limits

    Allows larger transactions, ideal for significant BTC purchases.

  • Better for Large Transactions

    Wire transfers are preferred by institutional and high-value investors due to their higher limits and speed.

  • More Reliable

    Can be tracked with minimal risk of error or delay.

  • Lightning Quick Access

    Funds are available right after transfer clearance.

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Credit Cards
  • Expect Delays & Holds

    While the transaction might appear instant, the crypto exchange may impose holds due to fraud concerns or verification processes.

  • Much Lower Limits

    Credit card companies may view crypto as high-risk and impose very low daily or transaction limits or restrictions. You might be surprised at how little you can actually buy.

  • Highly Unsuitable for Large Trades

    The combination of low limits, high fees, and potential restrictions makes credit cards a terrible choice for buying significant amounts of cryptocurrency.

  • Prone to Rejection and Cancellation

    Highly susceptible to being blocked by the card issuer due to fraud prevention measures or restrictions on cryptocurrency purchases. Expect potential declines, holds, or even account freezes.

  • Delayed Access

    Even if the purchase goes through, accessing your crypto might be delayed while the exchange verifies the transaction and your identity.

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Frequently Asked
Questions

  • What are the fees associated with credit card purchases?
    Buying cryptocurrency with a credit card can get expensive. You might face high fees, like cash advance charges and foreign transaction fees, which add up fast. Some exchanges take as much as 9.75% per transaction. Wire transfers, on the other hand, usually cost less, especially for large purchases, making them a better choice for serious investors.
  • Are there security concerns when using credit cards?
    Banks and credit card companies often block cryptocurrency purchases to prevent fraud, which can lead to declined transactions. Wire transfers, though, are seen as safer since they move money directly between banks, lowering the risk of fraud. This extra security matters, especially in the unpredictable crypto market.
  • How quickly can I access my funds after a purchase?
    Buying crypto with a credit card can slow things down if the bank flags the transaction or asks for more verification. Wire transfers, on the other hand, usually clear within hours, giving investors faster access to funds and a better chance to act on market shifts.
  • What happens if my credit card transaction fails?
    Credit card transactions can fail for reasons like incorrect billing details or bank restrictions on crypto purchases. Wire transfers, however, are more reliable since they move directly between banks without extra checks that can cause issues with credit cards.
  • Are there limitations on how much I can purchase?
    Credit cards often have limits on cash advances or purchases, which can make large crypto investments difficult. Wire transfers usually allow higher amounts without these restrictions, making them a better option for big transactions.
  • What about consumer protections?
    Credit cards offer fraud protection and chargebacks, but these usually don't apply to crypto purchases since they're treated as cash advances. Wire transfers don't have these protections, but they're considered safer and more direct for moving large sums between banks.

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ODT, Inc. provides trading services for major cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Solana (SOL), and USD Coin (USDC).

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ODT, Inc. is a wholly owned subsidiary of InvestiFi, Inc., a Delaware-registered Corporation.

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