Buy Crypto With Credit Card in 3 easy steps | 
Buy Crypto With Credit Card in 3 easy steps
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Buy Crypto With Credit Card in 3 easy steps

So, you’ve decided to join the crypto craze and want to buy some with your credit card? Well, it turns out that using a credit card is a little more complex than simply whipping out your wallet.

Can you buy crypto with a credit card? The short answer is buying crypto with a credit card is possible—but you might be hit with some hefty fees. Also, the transaction may be blocked by your bank, exchange, or card provider. We’re going to talk you through the 3 steps you need to take, as well as cover any questions you might have.

Step 1 – Get a Wallet to Store

The first step you’ll need to take if you want to buy and hold cryptocurrency is to set up a crypto wallet through an exchange or crypto platform. A crypto wallet is a way to store and manage your crypto assets. You can set up one on an exchange or similar platform such as MetaMask, Coinbase, Binance, or TrustWallet.

With the CryptoWallet wallet, you just need to complete a short KYC (Know Your Customer) process, and then you’ll be guided through the entire process step-by-step. This will include setting up your seed phrase and other security features.

Step 2 – Find a Crypto to Buy 

Next step is to pick a cryptocurrency to buy. For this guide, we’ll use Bitcoin as an example. 

Now you’ll need to choose a crypto platform that supports buying Bitcoin through credit card purchases. Some exchanges like eToro don’t allow you to use a credit card, and others may not accept any fiat purchases at all. Take a look around at different platforms to find the best site to buy crypto with a credit card. Each will have its advantages and disadvantages, as well as charge different fees. 

Head to your chosen crypto exchange, and you may be asked to create an account or connect a wallet before making any purchases. 

Note: With CryptoWallet, you can buy Bitcoin and other cryptocurrencies by simply topping up your account using a Mastercard or Visa card. 

Step 3 – Buy and Enjoy 

Once your account is created, you can head to the Buy/Sell section of the platform. Choose Bitcoin from the list of crypto assets and enter the amount you’d like to buy. 

You may be asked to enter the address details of your wallet where you’d like the crypto to be sent. This will be your public key which is stored in your crypto wallet. 

Confirm the amount of crypto and the rate offered. Then you can pay using your credit card and enjoy your new crypto assets!

Exchange fees 

The exchange that you choose will often charge a fixed percentage fee for any crypto purchases. However, if you use a credit card, you might incur additional fees. For example, ZenGo charges between 0% and 3% for crypto purchases, but credit card purchases incur an additional 4%. 

The fees you might have to pay include:

  • Fixed percentage fee for crypto purchases: this is applied for any crypto purchases.
  • Credit card fee: some platforms may charge an additional flat or fixed percentage fee for using a credit card specifically. This can be as high as 5% or even 10%
  • Foreign exchange fee: depending on your country of residence and where the exchange is based, you may be charged a foreign exchange fee that can be as high as 5%

Cash advance penalties 

Many credit card issuers treat crypto purchases as a cash advance. If your bank does, that means they charge similar fees to using your credit limit for a cash withdrawal or a short-term loan. It also comes with some drawbacks compared to other credit card purchases.

For your crypto purchases, that can include:

  • A fixed percentage fee of between 3% to 10%.
  • Higher interest rates than normal credit card purchases.
  • No grace period before you start incurring interest, so you’ll start being charged straightaway.
  • No rewards if your card issuer offers them for other purchases.
  • A low credit limit (often, the cash advance limit is lower than your normal credit limit).

What countries are allowed to buy crypto with credit card? 

While most regions—including the US, the UK, and the EU—support credit card purchases, some countries prohibit crypto completely or only under certain circumstances. You’ll need to check the legislation for your country of residence

Buy Crypto with Credit Card: Advantages vs. Disadvantages 


  • If you don’t have the cash to hand, you can still buy crypto
  • Some credit cards allow you to benefit from their rewards program when buying crypto. However, this is rare.


  • Your card provider or bank may block the transaction
  • The exchange may not support it
  • You will usually incur hefty fees that may not make it worthwhile.
  • It can affect your credit rating.
  • Most credit card providers exclude crypto purchases from transactions that can receive rewards such as cashback. 
  • If it’s treated as a cash advance, you’ll face higher fees and no credit card protections.
  • Some exchanges will lock your crypto assets for 2-3 days while they validate your purchase.

Pitfalls when You buy crypto with credit card 

Buying crypto with a credit card can be complex, and you may run into several hurdles such as:

  • Exchanges like Coinbase and eToro either have restrictions on credit card purchases or prohibit them completely. You’ll need to check with any exchange you want to use.
  • Most US banks do not support crypto purchases with a credit card, including Bank of America, Barclays, Chase, and Wells Fargo.

Buy Crypto With Credit Card: Our Solution

While you can use a wire transfer or debit card for purchasing crypto, there’s an even better solution that allows you to use a credit card without hefty fees or bank issues: a crypto credit card.

This is a credit card that allows you to buy and spend crypto easily. It often comes with great rewards like cashback or lower trading fees. Some examples include 

  • Upgrade Bitcoin Rewards Card: 1.5% cashback in the form of Bitcoin.
  • Gemini Credit Card: 1% minimum cashback in over 50 cryptocurrencies.
  • Nexo Card: You can spend your crypto’s fiat value as credit while holding onto your crypto.

CryptoWallet will soon be launching our own crypto card that will allow you to buy and spend more than 800 cryptocurrencies as well as benefit from low fees. You can connect your own wallet or use our built-in crypto wallet for added convenience.

To order our crypto card, join the whitelist here!

Author Photo

Mohammad Humaid

Mo is an accomplished content marketer with expertise in Fintech, Blockchain, Web3, and SaaS. His professional journey includes a notable stint at Wise (formerly TransferWise) expanding the brand's footprints within European market. Presently, Mo is deeply engaged in shaping the vision of CryptoWallet, with the goal of making cryptocurrencies easily accessible and seamlessly integrated into everyday financial transactions.