Buy Crypto with a Credit Card

When you’re looking to buy digital tokens, one of the major things you need to consider is the payment option. Using a credit card is one of the many ways you can buy cryptocurrency. This is a fast and efficient way to buy digital assets because, unlike wire transfers, when you purchase cryptocurrency with a credit card, you will obtain the tokens within a few minutes. 

Whether you intend to trade long or short-term, learning how to buy crypto with a credit card is very straightforward. Therefore, in this guide, we will discuss all you need to know about buying cryptocurrency with a credit card, where you can do so, and how to get started in under five minutes. 

How to Buy Crypto With a Credit Card – Select a Broker

There are various regulated brokers in the crypto market. However, when you’re choosing the broker with which you can buy crypto with a credit card, you need to exercise some care. We have highlighted the three best brokers that allow you to buy crypto with a credit card – while also offering you numerous other excellent tools and features. 

  • eToro – Overall Best Broker to Buy Crypto with a Credit Card
  • Capital.com – Best Broker to Buy Crypto CFD Instruments with a Credit Card
  • AvaTrade – Excellent Analytical Broker to Buy Crypto CFD Instruments with a Credit Card

Later in this guide, you’ll come across our full review of each broker and why they stand out in the market as the right place for you to buy crypto with a credit card.

67% of retail investor accounts lose money when trading CFDs with this provider.

How to Buy Crypto With a Credit Card: Quickfire Walkthrough

The best way to buy crypto with a credit card is to use an regulated online broker. Such brokers offer you credibility and security, making your transactions safe. Additionally, you may not have to incur high fees when you buy crypto with a credit card on such platforms.

Therefore, if you’re looking to buy crypto with a credit card in under ten minutes, this quick walkthrough is all you need. 

  • Step 1: Open an Account: This is the first step you have to take. You should consider a broker like eToro, as the platform has a low-fee structure and is heavily regulated.
  • Step 2: Complete the KYC Process: You’ll have to submit some personal details here. You’ll also be required to upload a government-issued ID, which can be your passport. Additionally, you’ll need to submit a utility bill or bank statement to validate your home address. 
  • Step 3: Make a Deposit: You’ll need to add funds to your eToro account before you can proceed to buy crypto. This is essentially where you use your credit card, as this is one of the payment options supported by the broker.
  • Step 4: Buy Crypto Tokens: Once you’ve completed the steps above, you can now purchase the cryptocurrency assets you want. Simply enter the token name into the search box, and click ‘Trade’. 

Once you complete this purchase process, you’ll get your cryptocurrency tokens. With eToro, you can store your tokens in the platform’s in-built wallet. They will remain there until you decide to sell.

67% of retail investor accounts lose money when trading CFDs with this provider.

Where to Buy Cryptocurrency With a Credit Card

There are numerous brokers available online. As the cryptocurrency industry continues to grow, several crypto brokers emerge each and every day. This means there are dozens of brokers through which you can buy crypto with a credit card. However, not all of these brokers will offer you a good service in a cost-effective manner. 

Below we discuss extensively the best brokers with which you can buy crypto with a credit card.

1. eToro – Overall Best Broker to Buy Crypto with a Credit Card

eToro stands out in the market as a broker that allows you to buy crypto with a credit card. The broker takes the first position in this review for different reasons. With more than 20 million users, eToro offers atop-notch brokerage serviceswithout charging high fees. You can get started with the platform by simply opening an account and making a deposit of at least $200.

eToro supports different payment methods including credit cards. This means that if the credit card option is all you have to add funds to your account, you can conveniently do so with this broker. Additionally, the broker supports other payment options including e-wallets, debit cards, and wire transfers. Once you make the required minimum deposit with your credit card, you can begin to buy your desired tokens for as little as $25.

Since eToro allows you to buy tokens from as little as $25, this means you can invest in different coins with minimal risk. This is a great perk, especially if you’re a beginner and just getting started with crypto investing. Furthermore, eToro offers you access to a wide range of cryptocurrencies, making it convenient for you to diversify your portfolio. Interestingly, when it comes to the pricing of any of these tokens, you only have to consider the spread.

Importantly, another benefit of using eToro is that you can use the broker’s copy trading tool. If you’re a beginner who wants to get a firm grasp of trading, this tool allows you to mirror the buy and sell positions of an experienced investor. This way, you get to have a more in-depth understanding of the cryptocurrency investment and trading scene and thus - buy and sell in a passive manner.

Buying your crypto using a credit card on a broker like eToro also makes you eligible to use its social trading tools. This way, the broker allows you to interact with other investors in a social forum, which is an effective method to gain insights from other cryptocurrency enthusiasts. Additionally, the broker also allows you to trade CFDs, which is perfect for you if you’re buying crypto with a credit card for the purpose of trading on a short-term basis.

Overall, the most significant advantage of using a broker like eToro is that the platform is regulated. The broker is authorized by CySEC, the FCA, and ASIC. This heavy regulation ensures the platform cannot act beyond its outlined scope of operations, thereby offering its users a reasonable protection level. Finally, you can access eToro through its mobile app, making it easy for you to buy crypto with a credit card anywhere.

Our Rating

  • Supports credit cards and allows you to invest on a spread-only basis
  • Regulated by the FCA, CySEC, and ASIC - also approved in the US
  • User-friendly platform and minimum crypto stake of just $25
  • $5 withdrawal fee
67% of retail investors lose money when trading CFDs with this provider

2. Capital.com – Best Broker to Buy Crypto CFD Instruments with a Credit Card

Capital.com was founded in 2016 and the broker has since established itself as a leading platform in the cryptocurrency market. While you can use your credit card for purchases on this broker, it doesn’t work in the same manner as other crypto brokers. With Capital.com, what you can buy are CFDs, which are derivative products that allow you to trade based on the value of a token. This is highly suitable for short-term traders, as you don’t take ownership of the crypto asset.

Furthermore, the platform also has a simple user interface that makes it convenient to buy CFD instruments. Even if you’re a beginner in the digital asset world, you can conveniently navigate your way on the platform and buy crypto CFDs with a credit card. This is in addition to the fact that the trading platform has mobile applications you can use to make purchases from practically anywhere.

Another advantage of this platform is that it’s highly regulated. Capital.com is regulated by the FCA and CySEC, which are leading financial authorities that set guidelines for the broker to follow. The presence of these regulators offers you some sort of safety as an investor on the platform. If you’re also looking to trade several crypto assets, Capital.com is a suitable place for you, as the platform offers over 200+ digital currency markets.

Concerning fees, you only have to worry about the spread when you trade crypto on Capital.com. The broker has a low-cost structure, not least because you will pay no commission when you buy and sell crypto CFDs. When you use Capital.com, you pay zero inactivity, deposit, withdrawal, and account fees. This makes the platform ideal if you’re just getting started with buying crypto.

Lastly, while Capital.com allows you to buy crypto with a credit card via CFDs, it also supports some other payment options. This includes using debit cards and numerous e-wallets. Additionally, you can get started by making a minimum deposit of just $20. This makes it convenient for you to buy crypto as a beginner since you start with a small amount that helps to minimize your risks.

Our Rating

  • Easy to use broker for buying crypto CFDs with a credit card - great for newbies
  • Regulated by the FCA and CySEC
  • 0% commission, tight spreads, and $20 minimum deposit
  • Too basic for experienced crypto investors
71.2% of retail investors lose money when trading CFDs with this provider

3. AvaTrade – Excellent Analytical Broker to Buy Crypto CFDs with a Credit Card

AvaTrade is a top-rated cryptocurrency broker that has established its prominence in the marketplace. If you’re looking to buy crypto CFD instruments from a platform that makes trading convenient, AvaTrade might be your best option. The platform specializes in crypto CFD instruments in a similar manner to Capital.com. This means that when you buy CFD instruments, you don’t technically own the tokens, but their underlying value.

One thing that makes AvaTrade stand out among others is the platform’s technical analysis offering. This is an important feature because traders often rely on charting analysis to open and close positions. While it might be challenging to understand how technical analysis works, learning it is an effective way to maximize your crypto investment. Therefore, if you’re looking to trade crypto at a platform that helps you do this easily, AvaTrade might be the right option for you.

Furthermore, AvaTrade offers you a pool of cryptocurrency markets from which to choose from. This makes it easy for you to buy different crypto CFDs and diversify your trades. Whether you want to go long or short, the broker supports both and allows you to trade all supported digital token markets with leverage. When you consider this alongside the technical analysis tools on offer, you get to see how beneficial this broker can be.

AvaTrade is also a spread-only broker, meaning you don’t have to worry about paying commission fees that are payable with other platforms when you buy crypto with a credit card. Essentially, you simply need to make enough from your trade to cover the difference between the ask and bid price. Additionally, when you make deposits or withdrawals with your credit card, you incur no fees. More so, you only have to deposit a minimum of $100 to get started.

As a beginner, after buying crypto CFD instruments, you might be looking to practice how to trade before getting started with real markets. AvaTrade allows you to do this through a demo account. Additionally, the broker integrates third-party platforms such as MT4 and MT5. All of this makes the platform one of the best brokers to buy crypto with a credit card.

Our Rating

  • Lots of technical indicators and trading tools
  • Free demo account to practice trading
  • No commissions and heavily regulated
  • Perhaps more suited to experienced crypto investors
71% of retail investors lose money when trading CFDs with this provider

How to Buy Crypto with a Credit Card: Detailed Walkthrough

Earlier, we briefly discussed what you need to do to buy crypto with a credit card in under five minutes. However, that might not be sufficient, especially if you’re a beginner. Therefore, in this section, we will walk you through all you need to know about the process.

Step 1: Open an Account

As we established in our platform reviews, eToro is the best broker for you to buy crypto with a credit card. This is because the platform is heavily regulated and offers very low fees. Therefore, the first thing is to visit eToro and create an account.

You can do this by entering some personal information and contact details.

67% of retail investor accounts lose money when trading CFDs with this provider.

Step 2: Complete KYC

eToro is heavily regulated by leading financial authorities such as the FCA, CySEC, and ASIC. The implication of this is that you cannot complete any trade on this platform without submitting your relevant details. Therefore, eToro will require you to fulfill some KYC requirements – which include uploading a copy of your government-issued ID. 

Step 3: Fund Your Account

The next thing you have to do is to make a deposit into your account. As such, this is where you input your credit card details and enter your desired deposit amount. This needs to be at least $200 at eToro.

Step 4: Search for your Token

Now that you’ve set up and funded your account, the next thing is to search for the crypto you want to buy. You can utilize the search box provided on eToro’s page to look for your desired token. 

For instance, if you’re searching for Ethereum, you simply need to enter the token name into the box.

Step 5: Buy Crypto

Once you’ve followed the steps above, all you need to do here is to place a buy order. Placing a buy order means you’re instructing eToro on how much you intend to invest in the token you’re buying. On this broker, the minimum stake you can enter for a token is $25.

Buy Crypto – Best Place to Buy Crypto with a Credit Card

When you’re looking to buy crypto with a credit card, you can do so through numerous places. There are many options in the market for buying cryptocurrencies. However, focusing on places that offer you credibility and safety will help you make the right choice. 

We have discussed below the best place you can buy crypto with a credit card.

Online Cryptocurrency Broker

A regulated broker is your best bet when you want to buy crypto. These platforms are regulated by leading financial authorities, making them credible. eToro falls within this category as the broker is regulated by the FCA, ASIC, and CSEC.

Here are some of the reasons why you should consider a regulated broker:

  • A regulated broker like eToro offers you seamless fiat money facilities – including support for credit cards
  • This means that you can buy crypto with a credit card in a fast and convenient manner.
  • A regulated broker is also mandated to follow KYC rules and ensure that all investors validate their identities.

Essentially, with KYC rules, you have to submit some personal details before you’re allowed to buy crypto with a credit card. Interestingly, with highly automated brokers like eToro, you can complete your verification process within a few seconds. 

Cryptocurrency Exchange

For some investors, cryptocurrency exchanges are the best places to buy crypto with a credit card. On these platforms, you’re matched against a seller in real-time to buy crypto. The major perk of these exchanges is that they are very low-cost. However, this comes at the expense of security, as these exchanges are often unregulated. 

The absence of regulation gives way to several nefarious activities taking place on the platform. This puts your interest and that of the other innocent investors at a risk. This is why regulated brokers rank ahead of cryptocurrency exchanges if you’re looking to invest in a secure environment.

Other Ways to Buy Cryptocurrency

Although the focus of this page is how to buy crypto with a credit card, we will also like to touch on some other ways you can purchase digital tokens. Here, we discuss the common ways through which you can buy crypto.

Buy Crypto with a Debit Card

Suppose you have a debit card issued by MasterCard or Visa, you can buy crypto with it. All you need to do is to input your card details to buy the amount of crypto you need. To finalize the process, your broker will require you to complete a KYC process, since paying with a debit card means you’re buying crypto with fiat money.

If you’re looking for a broker that allows you to buy crypto with a debit card, you don’t have to search too far. All of the brokers we reviewed earlier support this payment method.

Buy Crypto with Wire Transfer

If you don’t mind waiting a few days for the funds to arrive, you may use the wire transfer option. You might find this option favorable if you’re big on buying crypto at a very minimal cost. This is because most brokers will charge no fee for bank transfers. 

Buy Crypto with Paypal

You can also buy crypto with e-wallet options like Paypal. Brokers like eToro allow you to make deposits with Paypal and you can also withdraw your funds through the same channel. If you’re looking to buy crypto with Paypal on eToro, you only have to pay 0.5% in fees. Additionally, the broker will process your payment instantly.

Buy Crypto with Crypto

You can utilize a crypto-to-crypto exchange to buy your desired tokens. Here, you might want to transfer your funds to a platform like Binance. This broker will allow you to swap one token for another. For instance, you can exchange Ethereum into XRP. The system will show you the exchange rate, and if you’re comfortable with it, you can proceed.

Risks of Buying Crypto With a Credit Card

When you’re looking to buy crypto with a credit card, you must consider the risks obtainable in this space. We have identified some important risks that you need to consider before making a crypto investment.

Volatility

Both large and small crypto projects are highly volatile. This means that you can buy crypto with a credit card today and the token’s price will drop tomorrow. For instance, in May 2021, Ethereum had a price of over $4,000, and just a month after, the token hit a low of about $1,700.

Hence, the uncertainty that comes with cryptocurrencies is why you should always do your research before buying a coin. That way, you can make a more informed decision that’s based on a clear investment strategy.

Regulation

Regulations can impact the value of cryptocurrencies. Since many countries are just opening up to cryptocurrency, the laws guiding the industry are still in their infancy. This means that a government can come up with any regulation at any point, and the nature of such a law will determine its impact on crypto. 

How to Buy Crypto with a Credit Card – Conclusion

The payment option supported by a broker is a significant factor to consider when choosing a crypto platform. If you’re looking to buy crypto with a credit card, we have reviewed the best brokers that allow you to do that.

Even more, we discussed the benefits of using these brokers, especially eToro – which allows you to buy crypto with a credit card in a cost-effective manner. Plus, eToro is heavily regulated – so you can invest in a safe environment.

67% of retail investor accounts lose money when trading CFDs with this provider.

FAQs

How to buy crypto with a credit card?

You can buy crypto with a credit card by using a regulated broker like eToro. The platform allows you to buy your desired tokens on a spread-only basis.

Where to buy crypto with a credit card?

There are numerous brokers and exchanges for you to buy crypto. However, it’s preferable to always go for the best. eToro stands out in this regard for the platform’s ease of use and low-fee structure.

How much can you invest in crypto when buying with a credit card?

You can invest as much as you desire or as little as you can afford. However, this is ultimately based on the minimum deposit requirement set by the broker you’re using. For a broker like eToro, while you need to make a minimum deposit of $200, you can buy crypto from just $25 per trade, making your risk exposure minimal.

Do you need to be experienced to buy crypto with a credit card?

You don’t need to be experienced to buy crypto with a credit card. All you need is a broker like eToro with a simple user interface. That way, you can follow the prompts and buy crypto in under five minutes.

What should you consider when choosing a broker to buy crypto?

There are many things to consider in this instance, but two are highly important. Consider the cost-effectiveness of the broker and also whether the platform is regulated. These two things make it more convenient and safe to buy crypto and maximize your investments, especially if you’re a beginner.