How to Buy Bitcoin with Credit Card

Credit cards have become one of the easiest methods of buying Bitcoin and other altcoins for investors. In previous years this was not a favored payment method as it often involved fraud; however, today, many anti-fraud companies and brokerage firms have made it possible to safely and efficiently buy Bitcoin using a credit card.

The most well-known, regulated cryptocurrency trading platforms now accept credit cards as a fiat on-ramp to purchase cryptos. We review the best exchanges to buy Bitcoin with credit, how to do so in screenshots, and what you need to consider before getting started.

How to Buy Bitcoin with Credit Card

Best Brokers to Buy Bitcoin with Credit Card in October 2023

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As you will find plenty of cryptocurrency exchanges that allow you to buy Bitcoin with a credit card, you may be confused about which one to choose to get more efficient and safe trading.

In the above list, we included brokerage platforms considering some crucial factors. In the first case, we examined their security systems and website safety to recommend the most trustworthy and reliable brokers. Top financial institutions regulate most trading platforms we included in the list and have strong privacy policies. 

Secondly, we figured out their pricing systems, which include what trading and non-trading fees the brokers charge. Some brokers and exchanges also apply hidden fees that they can include in the asset price, so you must be careful too. As for trading fees, brokers charge either commission fees or spreads or, in some cases, both. 

At last, if you plan to buy and sell assets frequently, you should choose a broker with lower fees. eToro, for instance, charges only spreads, which are very competitive. In contrast, Libertex does not take spreads but charges low commissions. We also examine their non-trading fees, such as withdrawal, conversion and deposit fees, management costs, and so on, as they can also eat your profits in the process. 

How to Buy Bitcoin with Credit Card

In this section of our guide, we’ll show you a step-by-step process of how to buy Bitcoin with a credit card with one of our recommended brokers, eToro. Being one of the most popular brokerage platforms, eToro stands out with several features: a social trading platform with unique tools, excellent user experience, strong regulations, zero-commission for trading, etc.

eToro is also a CFD trading platform, meaning you can buy Bitcoin in the form of CFDs, though it enables you to buy Bitcoin outright. The platform offers a vast selection of assets and supports multiple payment methods to deposit and withdraw funds. To get started, here’s what you need to do. 

Step 1. Open an Account

To start, you must visit eToro’s website and register for an online account by clicking the “Join Now” button. It’s a rapid and straightforward process, as long as you fill in some details such as your username, provide an email and create a password. Then, you need to continue the registration process by providing more personal information – name, surname, phone number and answer eToro’s questions about your investment goals. 

Step 2. Verify Your Account

Due to its heavy-regulatory systems, verifying your account on eToro is mandatory. The broker requires two verification documents – proof of identity and proof of address. You must upload a photo of your driver’s license or passport for the first verification. You must provide a bank document or utility bill for the second verification. If you do all the steps appropriately, your account will be verified relatively quickly.

Step 3. Deposit Funds via Credit Card

You can eventually transfer some funds to your brokerage account in this step. eToro offers multiple payment methods – bank credit cards, wire transfers, and e-wallets. These methods have no deposit fees, but eToro takes low conversion fees for non-USD transfers. To deposit funds, click the “Deposit Funds” button, choose the credit card option, and fill in your card details and the amount you want to deposit. 

Step 4. Buy Bitcoin

If you have completed the previous steps, you can now buy Bitcoin with a credit card. To do that, you must search BTC/Bitcoin in the search toolbar, fill in the amount you want, and complete your purchase. eToro will immediately process your order and complete your purchase anytime you place the order, as the cryptocurrency market is open 24/7. 

Buying Bitcoins Instantly with Credit Card without Verification

There are several methods to buy Bitcoin with a credit card without going through any verification processes. At first, though, we should mention that these options involve higher risks of data leaking and fraud – They are not as safe as trading with regulated brokers as long as top brokers provide strong safety with your information and funds. 

Many cryptocurrency exchanges supporting buying Bitcoin with a credit card without verification are not regulated. So, you must be careful not to provide your card details to a susceptive platform. 

There are also peer-to-peer marketplaces where you buy cryptocurrencies directly from the seller. On these platforms, you browse to find the best seller for you, get in touch, and they will directly send it to your Bitcoin wallet. With this in mind, you can also face situations when you send the money but won’t get your cryptos. Hence, you had better select a P2P marketplace with an escrow mechanism. 

Another option is to buy BTC from a Bitcoin ATM. You can look at the BTC ATMs map to find out if there is an ATM machine near your location and buy Bitcoin with a credit card. But this method also has its drawbacks, notably high fees and availability. 

Advantages and Disadvantages of Using a Credit Card for Buying Bitcoin

In all senses, there is no perfect payment method – some take longer to transfer funds, others require higher trading fees, etc. So, you need to select the one that best suits your requirements. With this in mind, you can find the advantages and disadvantages of buying Bitcoin via credit card below before you get started. 

Advantages

• Credit cards allow you to buy Bitcoin instantly compared to wire transfers, when the purchase may take several days. 
• Several heavily regulated brokers and crypto exchanges approve credit cards as a payment option.
• It’s a more user-friendly and straightforward method of purchasing cryptocurrencies.
• Because of being quicker than other payment methods, credit cards give more security in these terms. 
• With credit cards, there may be some limitations on the amount you can buy to help you invest cautiously. 

Disadvantages

• It may negatively affect your credit score.
• Crypto trading platforms may apply higher fees for credit cards. 
• Some Brokers and exchanges may also limit how much BTC you can buy with a credit card.

Withdrawing Bitcoin from a Brokerage Account

After getting your Bitcoin, you can create a personal Bitcoin account and withdraw your crypto to store them in a Bitcoin wallet more safely. But whether you can do this depends on how you made your purchase. If you trade BTC through Contracts for Differences, you don’t own the asset, and simply speculate on the price of the asset. Therefore, in this case, you cannot withdraw Bitcoin and send it to a personal wallet. 

In contrast, buying Bitcoin outright on a crypto exchange will allow you to transfer your coins to a more secure private wallet. Firstly, you need to find a platform that provides a BTC wallet account, create an account, and complete the transfer. You can find more information on this topic in our guide How to Open Your Free BTC Account. 

Where to Buy Bitcoin with Credit Card in October 2023

Nowadays, selecting a trustworthy broker when buying Bitcoin with a credit card is crucial. This is because you trust valuable information about your identity and provide your credit card details. And if someone could hack your brokerage account, they can also get access to your credit card and all the checking accounts linked to it. 

With that in mind, we list the safest brokers to buy Bitcoin with a credit card below. These brokers stand out with their excellent regulations, pricing systems, and other essential features.

eToro – Zero-Commission Broker to Buy Bitcoin with a Credit Card

According to our research, eToro is the best choice to buy Bitcoin with a credit card. It was launched in 2006 and has gained a tremendous reputation among investors, especially beginners who want access to a user-friendly and easy-to-use trading platform. Today, eToro has 20 million registered users that particularly like this broker due to its social trading platform, the low commissions, and the significant trading tools it offers. This includes social trading tools called CopyTrader and CopyPortfolios, which you can use to mirror the trades or portfolios of any professional trader you want to follow.

eToro’s pricing system is also pretty convenient. You don’t need to pay commission fees to buy Bitcoin with a credit card. Instead, eToro charges small bid-and-ask spreads, 0.75% for Bitcoin. To start trading on eToro, you need a minimum deposit of $200 on your brokerage account. There are no extra deposit fees, though you need to consider a $5 withdrawal fee every time you withdraw your cash. 

At last, eToro is a fully licensed legal broker that such top institutions as FinCEN in the US, FCA in the UK, ASIC in Australia, and CySEC in Cyprus regulate. This means eToro guarantees your safety of funds, making it one of the most reliable brokers worldwide. 

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OKX – Buy Bitcoin with Credit Card At Low Fees

Our second pick as the best cryptocurrency exchange to buy Bitcoin with a credit card is OKX. Launched in 2017, OKX hit its stride in mid-2022, becoming one of the better cryptocurrency exchanges. And at press time, it is the world’s fifth-biggest crypto trading platform by market capitalization.

OKX introduced the ability to buy Bitcoin using credit cards and other fiat methods in the first quarter of 2023. In addition to this inclusive addition, OKX has also integrated other features, such as copy trading and trading bots, to make bitcoin trading easier for investors.

OKX supports basic trading, derivatives trading, and margin trading. Users can also convert their holdings into BTC or other assets without any additional fee. And under the Grow program, OKX offers staking and other facilities, allowing users to earn passive income through their BTC holdings.

OKX follows a maker/taker fee model. While it starts with 0.080%/0.1%, the fee can be reduced further by holding OKB tokens – the native crypto of the OKX exchange. VIP traders with assets exceeding $100k in their OKX trading accounts also enjoy a reduced trading fee.

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Bybit – Buy Bitcoin With Credit Card At This Beginner-Friendly Platform

Bybit is a beginner-friendly platform with multiple inclusive features, allowing users to buy Bitcoin with a credit card. While the platform doesn’t ask for any charges, credit card payment service providers might charge you some fees.

Along with Bitcoin, Bybit supports over 100 cryptocurrencies. Users can also trade over 300 trading pairs on Bybit. Both spot trading and margin trading are supported. BTC/USDT is one of the leveraged pairs, allowing users to short this pair on 3X leverage.

Bybit also gives users an overview of the cryptocurrency market, where they can check out the list of top gainers and top trading cryptocurrencies based on their niches.

Security features on Bybit are also exceptional, focusing on protecting users’ assets. Part of that is the Proof of Reserves. Bybit’s Proof of Reserves is fully audited, allowing users to check their holdings in reserve.

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Libertex – Buy Bitcoin CFDs with No Spreads

Libertex is an excellent no-spread CFD trading platform designed for those who want to trade financial instruments actively. The broker was founded in 1997 and is among the most trustworthy trading platforms, with over 30 industry awards. Along with its well-designed in-house trading platform, Libertex also supports MetaTrader4 and MetaTrader5 trading platforms.

In contrast to most CFD platforms, the broker does not take bid-and-ask spreads and charges fixed commission fees that are very competitive. Also, Libertex does not charge withdrawal and deposit fees, registration is free, and there are no management or account fees. So, the only fee to consider for using the platform is a monthly inactivity fee of 10 EUR after three months of inactivity.

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Capital.com – Buy Bitcoin with an AI Trading Platform

Being a completely new CFD trading platform in the industry, Capital.com has gained a good reputation among its users. The platform accepts customers from over 50 countries worldwide, and its innovative trading tools stand out. Capital.com supports various assets, including 29 cryptocurrencies that customers can trade using artificial intelligence-based solutions. 

The platform offers four types of trading accounts – Standard, Plus, Premier, and Invest – each type of account is designed for traders of different levels. Regarding trading fees, the broker does not apply commissions but charges variable spreads, which is 0.5% for BTC trading. The minimum deposit fee is £/$/€20, which differs depending on your selected trading account. 

Finally, the platform accepts several payment methods, including credit and debit cards, wire transfers, and e-wallets. Capital.com also stands out with its firm regulations – the broker is regulated by three tier-1 authorities (ASIC, FCA, and CySEC) and the National Bank of the Republic of Belarus. 

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Coinbase – Buy Bitcoin with a Credit Card in the US

Coinbase is a US-based cryptocurrency exchange best known for its excellent user interface and trading tools for all types of traders. Though Coinbase is most famous in the US, it also accepts customers from other countries and has 68 million users worldwide. The exchange offers two types of accounts – Standard account and Coinbase Pro. The first is best suited for those who want to make a one-time purchase and buy and hold various crypto coins, while the Coinbase Pro is ideal for active crypto traders looking for an advanced trading platform and low fees.

Compared to other platforms, Coinbase takes a relatively higher commission, which is charged every time you make a buy or sell order. Plus, there is a deposit fee of $3.99 every time you transfer funds using a bank card payment option.

Generally, Coinbase supports trading more than 50 cryptos and 60 crypto pairs, while it also accepts buying BTC with 40 types of fiat currencies and ETH with seven currencies. You can also access other cryptos using USD Coin (USDC).

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Plus500 – Buy Bitcoin outside the US with no Commissions

Plus500 is among the most reputable CFD trading platforms, with customers from over 50 countries. It’s a commission-free broker with competitive spreads, a high leverage ratio, and a simple-to-use web-based and mobile trading app. Also, Plus500 is a highly trustworthy platform as it has licenses from such regulatory financial institutions as ASIC, FCA, and CySEC.

Regarding its non-trading fees, the broker does not apply any withdrawal fees but charges currency conversions. There is also an inactivity fee of $10/month if you don’t show any activity within three months. Plus500 requires a minimum deposit of $100, which you can transfer through multiple payment options, including credit cards. 

The broker offers web trading via its WebTrader online platform and offers trading apps for Android, iPad, and iPhone users. Along with bitcoin and cryptocurrencies, the broker supports many other assets, including ETFs, indices, forex, commodities, etc.

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Buy Bitcoin with Credit Card Broker fees

If you have decided to trade with one of our recommended platforms and still need more information to choose the best platform, below we have compared the best brokers and exchanges to buy bitcoin with a credit card in 2021:

Everything to Bear in Mind When Buying Bitcoin with Credit Cards

Below are the main points to consider before you make your first Bitcoin purchase with a credit card. 

Credit cards: As you will deal with credit cards, first and foremost, you must research what kind of credit cards the broker typically accepts for transactions. After clearing it, you need to check if the credit cards you own to suit the recruitment or if you need to issue a new one. Top brokers usually accept American Express, Visa, and MasterCard-issued credit cards. 

Selecting a good broker: Selecting a good brokerage platform must be your priority, as the right broker can save you lots of money that you may lose in trading costs. Nowadays, it’s becoming more and more tricky to find a good broker as the internet is flooded with plenty of brokers offering their services. Hence, it may take you some time to choose the right platform. But instead, you can pick one from our list of the top brokers, which we have carefully selected after reviewing several such platforms. 

Safety: When it comes to providing your card details to an unknown platform, it goes without saying that safety is a top priority. Here is why you must check if your broker is licensed and regulated by top-tier financial organizations. Safety is the first thing we consider offering you to trade with this or that broker. So, we ensure all our recommended brokers have reasonable regulations and robust safety systems. 

Trading and non-trading fees: Obviously, your brokers don’t operate for free, and every time you use their services, you must pay for them. This comes in the form of trading and non-trading fees. Some brokers charge higher prices while also taking extra hidden fees; others offer a pricing system that is pretty competitive in the market. With this in mind, choose the right broker for your trading style and how you plan to trade digital assets. 

Transaction time: Depending on your chosen payment method, your transactions may be processed in a shorter or longer time. Credit cards usually prioritize speed, as transactions are speedy and straightforward.

Bitcoin wallet: There are also certain things to consider after you purchase. The first refers to storing your coins in a safer place than your brokerage account. If trading with CFD platforms, you must keep your funds in segregated accounts. However, buying Bitcoin with a credit card via a crypto exchange is best to open a reputable and popular Bitcoin wallet and store your coins. 

Taxation: In general, it’s important to mention that in many countries, bitcoin is classified as property; hence it’s a taxable asset. Thus, you should report to the appropriate government bodies about every capital gain you have made and be taxed according to the law.

Safety and Security When Buying Bitcoin with a Credit Card

As mentioned, safety is a top priority we must consider before getting started. The problem is that you must provide too many details about your identity during registration and verification. Plus, using a credit card makes it even riskier than using e-wallets or bank transfers. 

We always recommend choosing a broker with solid regulations and safety systems. Brokerage platforms registered and regulated with tier-1 authorities can ensure your security and the safety of your funds. Due to their privacy policy, they will also not share your information with a third party, and they usually use robust SSL protocols to protect your account and keep hackers away from fraud. 

Buying Bitcoin with Prepaid Credit Cards

While a credit card is an excellent option for buying Bitcoin, Prepaid credit cards are also widely accepted among investors. These cards are usually safer as they are not linked to your other account, and you provide fewer details when linking them to your brokerage account. To learn how to buy Bitcoin with a prepaid card, visit our guide Buy Bitcoin with Prepaid Card, where you will find all the essential information related to this payment option. 

How to Store Bitcoin on a Digital Wallet

Cryptocurrencies are primarily stored in digital wallets specially designed for this purpose. These decentralized apps or physical devices provide a safe place for your coins and are almost impossible to hack. 

So, when you buy Bitcoin as a long-term investment, leaving them in your exchange account is not secure. Instead, you had better build your personal crypto wallet and transfer your coins. You can find more information about creating a Bitcoin wallet in our Best 5 Bitcoin Wallets guide. 

eToro - Our Recommended Crypto Platform

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• ASIC, CySEC and FCA regulated - 30 Million Users Worldwide
• Buy with Bank transfer, Credit card, Neteller, Paypal, Skrill, Sofort
• Free Demo Account, Social Trading Community
• Free Secure Wallet - Unlosable Private Key
• Staking Rewards for holding ETH, ADA or TRX
• Copytrade Professional Crypto Traders

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Buying Bitcoin Anonymously with Credit Cards

To buy bitcoin anonymously with credit cards, firstly, you need to find a cryptocurrency exchange that does not require you to go through the verification process. Some peer-to-peer marketplaces and exchanges will allow you to buy Bitcoin in this way, such as Binance. 

But the problem is that – even if you skip the verification, you provide some personal information registering your card details. Plus, this method is not recommended as long as the verification process is strongly required for the broker to protect your identity and safety.

Taxation on Bitcoin Earnings in the US

As mentioned, the US Internal Revenue Service applies taxes for Bitcoin as digital currencies are classified as property. So, every time you get rewards from trading Bitcoin, you must inform the body about your capital gain and be taxed accordingly. 

Depending on the period you hold your BTC before you sell it and gain capital, the taxes applied for the cryptocurrencies can be short-term and long-term capital gains. Each type of capital gain is taxed differently, so you must check the IRS’s website to know how your assets will be taxed. 

Conclusion

To sum up, a credit card has become one of the most convenient methods of purchasing Bitcoin and other cryptocurrencies. Crucially, there are certain things to consider before you get started. You must first consider your safety as long as you share information about your identity and credit card with the broker. Then, you need to find a platform that charges low fees for buying Bitcoin with a credit card and does not maintain strict limitations on how many Bitcoins you can buy with a credit card. 

In these terms, eToro and all the other brokers in our recommendation list are excellent platforms for buying Bitcoin with a credit card. To get started, you need to create an account, verify and fund it using a credit card, and place an order to buy Bitcoin. 

eToro - Best Platform to Buy Bitcoin with Credit Card

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• 120+ Cryptos Wallet Available
• Debit and Credit Card Accepted
• $10 Minimum Deposit
• Social Trading Platform & Copy Trading
• CySEC & FCA regulated

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