Buy Crypto with a Debit Card

When you enter the cryptocurrency trading scene, you’ll likely have many questions. One of the most important questions many beginners ask is whether they can buy crypto with a debit card.

If you fall in this category, we have written this guide to walk you through the process of how to buy crypto with a debit card. We will also point you to the best crypto brokers that support debit cards and how to complete the investment process in under 10 minutes. 

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

The first and most crucial step for you when you want to buy crypto with a debit card is selecting a broker. As the cryptocurrency market grows in size, there’s an increase in the number of brokers looking to satisfy the demand for trading services.

However, not all brokers are credible, which is why you should research thoroughly before deciding on one to sign up with. Below you will find the best three best brokers with which you can buy crypto with a debit card.

  • eToro – Overall Best Broker to Buy Crypto with a Debit Card
  • Capital.com – Leading Regulated Broker to Buy Crypto CFDs with a Debit Card
  • AvaTrade – Superb Analytical Broker to Buy Crypto CFDs with a Debit Card.

Later in this guide, you will come across our detailed review of each broker and why you should consider these options if you want to buy crypto with a debit card. For now, we will go straight to the process of how to buy crypto with a debit card.

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

How to Buy Crypto With a Debit Card: Quickfire Walkthrough

It’s crucial that you buy crypto from a trusted and reliable broker to minimize your risks. Your trading experience is determined by the efficiency of the broker you choose. So, select a broker where you won’t incur high fees when buying cryptocurrency.

After making a choice, you can follow the straightforward steps in this quickfire walkthrough to buy crypto with a debit card in under ten minutes.

  • Step 1: Open an Account: This is the first step to get started in the cryptocurrency trading scene. You should go for an established broker such as eToro. The crypto trading platform is regulated and supports various payment options – including debit cards.
  • Step 2: Complete the KYC Process: At this stage, you’ll submit some personal details to the broker. The Know Your Customer (KYC) process is a standard procedure for regulated platforms like eToro. To complete the process, you’ll upload a government-issued ID such as your passport/driver’s license. You also have to submit your bank statement or a utility bill as proof of home address.
  • Step 3: Make a Deposit: The next step requires you to fund your eToro account. This is where you deposit funds with your debit card. 
  • Step 4: Buy Crypto Tokens: Now that you have funded your account, you can buy whatever cryptocurrency you desire. At eToro, click on the search tab and enter the name of the crypto you wish to buy. Then, click on ‘Trade’, enter your stake (minimum $25), and click ‘Open Trade’ to complete your purchase. 

Within seconds, you will receive a notification that your crypto purchase is complete. You can store the tokens on the broker’s inbuilt wallet or move them to an external source. 

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

Where to Buy Cryptocurrency With a Debit Card

There are several places to buy cryptocurrency online. If you want to use your debit card, you have to confirm that the platform supports this payment method. Following that, research to know more about the platform’s credibility and fee structure.

To help point you in the right direction, below we have reviewed the best brokers for you to buy crypto with a debit card.

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

If you are looking to buy crypto with a debit card, eToro is one of the best brokers you can use. This broker has built a reputation for itself based on the quality of service it offers. With over 20 million users, the platform offers access to dozens of cryptocurrency markets. Moreover, the platform has a simple user interface that makes it convenient for beginners to trade crypto.

Launched in 2007, eToro is one of the oldest and most trusted regulated brokers in the cryptocurrency scene. Furthermore, the broker provides you with a copy trading tool to make it easy for you to open and close positions. The copy trading tool allows you to mirror the trades of other people and automatically enter your stake based on that. This is highly suitable for trading if you’re a beginner looking to get a firm grasp of the industry.

Although the platform offers impressive services, eToro remains one of the most affordable brokers in the market due to its low-cost policy. The platform’s minimum deposit requirement is just $200, but you can start to trade with as little as $25. This way, you can enter trades with minimal risk, especially if you’re still getting familiar with the broker and need to engage in some practice.

Furthermore, you can buy crypto with a debit card on eToro, since the broker supports this payment method. Further, you will only pay an debit card fee of 0.5% (0% for US clients). To purchase cryptocurrency on the platform, you will first need to deposit funds into your account. Afterward, decide on the crypto you want to buy and follow the prompts. eToro also accepts other forms of payment such as credit cards, e-wallets, and wire transfers.

Perhaps the most important consideration here is that the broker is regulated. This includes regulation with the FCA, CySEC, and ASIC - the presence of which indicates the broker’s credibility. In addition, eToro allows you to access CFDs, meaning if you’re looking to trade short-term and don’t want to take ownership of the tokens, these derivative products are available for your use. Get started with eToro by visiting the website or downloading the mobile app.

Our Rating

  • Supports debit 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 – Leading Regulated Broker to Buy Crypto CFD Instruments with a Debit Card

While Capital.com is relatively new compared to other brokers on this list, the crypto trading platform has been swift to establish its prominence. Launched in 2016, Capital.com has positioned itself as a leading broker for trading CFD instruments. CFDs are derivative products through which you can trade a cryptocurrency pair based on its value without owning the token itself.

Capital.com has a simple user interface that makes it easy for you to buy crypto CFDs with a debit card. If you’re looking to trade on a short-term basis, this means you’d be opening and closing different positions across days, hours, or even minutes. Therefore, trading CFDs with a platform like Capital.com allows you to open these positions conveniently. With your debit card, you can get started in under ten minutes.

When you use Capital.com, the spread is the only fee you need to worry about. This is because the platform doesn’t charge any trading commissions. As such, inactivity, deposits, and withdrawal fees are all inexistent on this broker, allowing you to enjoy your profits without interference. In terms of credibility, the platform is regulated by leading financial authorities such as the FCA and CySEC.

Capital.com also makes it convenient to diversify your trades, as the platform supports over 200 digital currency markets. In addition, you can start trading on Capital.com with as little as $20 when using a debit/credit card or e-wallet. Bank wires require a minimum of $250. Nevertheless, if you’re a beginner looking to start trading with a conservative amount via a debit card deposit, this low-cost broker might be the right one for you.

Our Rating

  • Leading broker with a simple interface to buy crypto with a debit card
  • 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 – Superb Analytical Broker to Buy Crypto CFDs with a Debit Card

AvaTrade is another broker that has been around for a long while. Founded in 2006, the broker has improved its services over the years to meet the increasing demands of the cryptocurrency industry. If you want to buy crypto with a debit card on an analytical broker, AvaTrade might be your best bet. With the platform’s technical analysis tools, you gain more insights into the cryptocurrency markets and your trades.

Experienced crypto traders understand the importance of technical analysis when opening and closing positions. As a beginner, you may not quickly grasp how technical analysis works. However, over time, you’ll become familiar with this feature and understand how to leverage it to boost your trades. Additionally, aside from debit cards, AvaTrade also permits you to buy crypto with other options like e-wallets.

AvaTrade offers you affordable brokerage services. When you trade crypto on the platform, you don’t incur commissions, unlike other investment sites. You simply need to make enough profit on your trades to cover the spread. Additionally, the platform has a minimum deposit requirement of just $100. Once you deposit that into your account, you can start trading.

Furthermore, AvaTrade is highly user-oriented, and this accounts for why the platform provides a demo account with which you can practice crypto trading as a beginner. The broker also supports both MT4 and MT5, which are third-party platforms that make buying and selling cryptocurrency pairs seamless. With these features, you can see why AvaTrade is one of the top three brokers where you should buy crypto with a debit card.

Overall, AvaTrade is a super-credible broker that’s licensed in more than seven jurisdictions. If you’re looking to trade cryptocurrencies on a platform that’s mandated to work within a defined scope of acceptable operations, AvaTrade is one of few brokers that ticks this box. Regulated brokers of this nature are required to follow certain guidelines to ensure some sort of protection for their users - so you'll have no concerns about safety at AvaTrade.

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 traders
71% of retail investors lose money when trading CFDs with this provider

How to Buy Crypto with a Debit Card: Detailed Walkthrough

After reading the quickfire guide outlined earlier on this page, you may have understood the process of buying crypto with a debit card, especially if you are already conversant in this space. However, if you are new to cryptocurrency, some of the steps might still be unclear to you.

Therefore, in this section, we will break down the steps and explain them in a more detailed manner.

Step 1: Open an Account

You will have to open an account with a credible crypto broker like eToro. This broker stands out because it’s regulated and has a low fee structure. Opening an account on eToro is easy. All you need to do is to visit the website and click on the ‘Join Now’ button. 

Next, provide the broker with your personal information and contact details – which includes your name, nationality, date of birth, and email address.

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

Step 2: Complete KYC

Completing a KYC process is an expected part of signing up on any regulated broker. As such, eToro has to verify your identity before you’re allowed to trade on the platform. You simply need to provide a government-issued ID like a passport/driver’s license and a utility bill/bank statement to validate your identity and home address. 

Step 3: Fund Your Account

This is the point where your debit card comes into play. You have to deposit money into your eToro account so that you can then proceed to buy your chosen cryptocurrencies. Do note that the minimum first-time deposit at eToro is $200.

Step 4: Search for your Token

There is a search bar on the eToro page for you to look for the cryptocurrency of your choice. eToro supports dozens of cryptocurrencies, both major and alternative coins. You can choose from any of these based on your trading strategy.

Alternatively, you can click on the ‘Trade Markets’ button to see what crypto assets eToro supports.

Step 5: Buy Crypto

Finally, you can purchase cryptocurrency by placing a buy order. When you do so, you are telling eToro to stake a specific amount of money on an asset. The smallest amount you can stake here is $25. Once you click on the ‘Open Trade’ button – your crypto purchase will be carried out by eToro instantly. 

Best Place to Buy Crypto with a Debit Card

If you are looking for a place to buy crypto with a debit card, many options are available for you. Although there are numerous options, you need to assess them with some important metrics. These metrics include reliability, security, cost-effectiveness, and user-friendliness.

Online Cryptocurrency Broker

The best place to buy crypto is at an online regulated broker. These platforms are easy to use and offer you different opportunities to maximize your trades. This option is highly preferable for beginners who have no prior knowledge of how to buy crypto with a debit card.

eToro is a leading online cryptocurrency broker that’s reputable for its cost-effectiveness. The platform is regulated by top financial bodies such as the FCA, CySEC, and ASIC.

Here are some of the reasons brokers are more preferable when buying crypto with a debit card:

  • Regulated brokers such as eToro integrate efficient fiat money facilities, including support for debit cards.
  • They are faster and more convenient.
  • Because the broker is regulated, it does condone anonymous trades. Therefore, you and your fellow investors have to complete a KYC process before using a regulated brokerage.

The KYC requirements stipulate that you have to verify your identity before you can buy crypto with a debit card. You have to submit your details and upload a valid ID, usually government-issued. Some online brokers – such as eToro, Capital.com, and AvaTrade – will validate your identity in seconds.

Cryptocurrency Exchange

This is another place to buy crypto with a debit card. These exchanges are platforms that match you to a seller in real-time. Exchanges are mostly cheaper to use than brokers, but they are less secure. Due to their lack of regulation, cryptocurrency exchanges do not have the same level of security that brokers offer.

Furthermore, another risk of using an unregulated exchange to buy crypto with a debit card is that it’s easier for users to engage in nefarious activities that might affect the interest of other traders.

Other Ways to Buy Cryptocurrency

While the focus of this page is to teach you how to buy crypto with a debit card, we will also highlight some of the other ways in which you can purchase digital tokens. These options all have their own pros and cons, and you may decide to use any of them based on your needs.

Buy Crypto with a Credit Card

If you own a credit card, you can use it to buy cryptocurrency online. The process is similar to that of buying crypto with a debit card. You will have to complete a KYC process since you are buying cryptocurrency with fiat money.

Once you complete the process, enter your card details and buy your tokens. You can use your credit card with any of eToro, Capital.com, and AvaTrade.

Buy Crypto with Wire Transfer

You can buy cryptocurrency through a wire transfer if you prefer that option. You will, however, need to note that wire transfers are generally slower than other payment options. Therefore, if your purpose of buying crypto with a debit card is to invest instantly, this payment option is not the best for you.

However, what wire transfers lack in timeliness, they make up for in cost-effectiveness, as this method is likely cheaper than buying crypto with a debit or credit card.

Buy Crypto with Paypal

If you have funds in your Paypal account and want to buy cryptocurrency, you can do so with ease. For instance, you can buy cryptocurrency on eToro with e-wallets such as Paypal. This method is also cost-effective on eToro, as you only pay a 0.5% fee on your transaction.

If you are based in the US – this 0.5% fee is scrapped! You can also withdraw your funds from eToro using Paypal. The withdrawal process is straightforward and swift, as you should get your funds within 24 hours.

Buy Crypto with Crypto

With the rise of cryptocurrency coins comes the increase in platforms supporting crypto-to-crypto exchanges. This method allows you to buy a cryptocurrency token with another coin through a direct swap.

  • If you want to do this, you need to connect to an exchange such as Binance. Here, you can exchange a token for the one you desire. For instance, you can exchange XRP for Ethereum.
  • Check the exchange rates of the two tokens. Different exchanges have their own swapping rates.
  • These rates differ depending on the assets you want to swap, the availability of sufficient liquidity levels, and the exchange policy of the platform itself.

So, after checking out the details, if you find the rate comfortable, you can complete the swap. 

Risks of Buying Crypto With a Debit Card

Trading cryptocurrency comes with some inherent risks, notwithstanding the platform you are using. Thus, you need to be on the lookout when you’re buying cryptocurrency with a debit card.

These risks include:

Cryptocurrency’s Volatile Nature

The cryptocurrency market is highly volatile, irrespective of the asset you’re investing in. Therefore, you need to understand that you may buy crypto today for a particular price, and the value will drop the following day. The wider sentiment of the cryptocurrency market can change at any time.

So, any piece of news or market update can cause the price of an asset to fluctuate. Aware of the volatile nature of cryptocurrency, you should thoroughly research a project before you trade or invest in it. You should also keep yourself abreast of news in the market to know of any that may affect your investment.

Government Regulations

The cryptocurrency industry is still evolving. As such, many governments continue to make regulations concerning the industry and the safety of its people’s interests. Therefore, if it happens that a government enacts an unfavorable regulation, this may adversely affect the cryptocurrency market of thus – your investment. 

Privacy

The internet is filled with many unscrupulous individuals who are out to scam investors of their digital assets. Therefore, as you buy crypto with a debit card, you should take precautions not to fall prey to hackers.

The only sure-fire way of avoiding this is to ensure you only use a regulated brokerage. Examples of safe and secure platforms that are heavily regulated included eToro, Capital.com, and AvaTrade – all of which support debit cards. 

How to Buy Crypto with a Debit Card – Conclusion

After reading this page, you must now know how you can buy crypto with a debit card. Additionally, you should also understand the importance of choosing a suitable crypto broker and how to go about it. 

We have also reviewed the best brokers in this space that support Visa and MasterCard crypto purchases and what makes them stand out.

For example, eToro tops our list for being regulated, highly cost-effective, and user-friendly. All of these attributes impact your trading experience when learning how to buy crypto with a debit card for the first time.

eToro – Best Site to Buy Crypto With a Debit Card

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

FAQs

How to buy crypto with a debit card?

You can buy crypto with a debit card from any broker that supports this payment method. So, for instance, you can buy crypto with a debit card on eToro. You simply need to fulfill the KYC requirements by providing a valid ID to verify your identity. 

Where to buy crypto with a debit card?

The market is filled with many brokers and exchanges where you can buy crypto with a debit card. Many of these platforms will state on their websites whether they offer this payment method. To save yourself the trouble of performing unnecessary research, you should consider a pre-vetted platform like eToro.  

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

Getting started with cryptocurrency can be a big deal, especially if you’re working within a budget. This is why you should consider a cost-effective platform like eToro where you only need to deposit a minimum of $200 to get started. Interestingly, once you do that, you can trade cryptocurrency for as little as $25. 

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

You don’t need any prior experience to buy cryptocurrency tokens with a debit card. You can get it all done within ten minutes. Start by opening an account with eToro, complete the KYC process, make a deposit, and proceed to buy your chosen crypto. 

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

Although every investor has different things they look out for in a broker, there are certain factors you should always consider. This includes whether the broker is regulated and the cost-effectiveness of the platform. These two factors are crucial when making a choice on the broker with which you intend to buy crypto.