Using a Credit Card to Buy Bitcoin: Top 3 Exchanges

Using a Credit Card to Buy Bitcoin: Top 3 Exchanges

by August 28, 2018

Buying Bitcoin has become easier over the years with more exchanges open for business and the existing ones fine-tuning their processes.

While it is now easier, many people continue to buy Bitcoin using bank accounts. This is actually an issue that many people find off-putting when purchasing Bitcoin because of the fear of hacking and fraud.

This is why you may be looking into buying Bitcoin using a credit card instead. In this situation, it is recommended that you learn how these credit card purchases will work and where it is possible to carry them out.

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It Is Still A Rare Option

Using a credit card to get Bitcoin is just as simple and easy as doing so with a debit card or bank account.  The limited popularity of this method comes from the additional restrictions placed on these transactions. If you have a MasterCard or Visa card, you should not have any complications with purchasing Bitcoin. However, if the card is not with these companies but through another financial institution, you could have a problem.

You could have a card with Capital One and be unable to get Bitcoin due to the policies that Capital One sets in place. This institute, along with a number of others, has disallowed the purchase of Bitcoin using their credit cards.

Before you look at where credit card transactions for Bitcoin can be done, you should ensure that the card provider permits this. If not, the sale will be rejected and leave you with no Bitcoin to show for your efforts. These rejections are often caused by security measures which have already been put in place that flag Bitcoin transactions as fraudulent.

Where To Acquire Bitcoin With A Credit Card

To purchase Bitcoin, you have to work through an exchange. There are almost 500 exchanges operating right now and most will not accept credit cards. Fortunately, some exchanges will accept this payment method and you need to know what they are.


CoinmamaCoinmama is a cryptocurrency exchange that actually specializes in exchanging Bitcoin as well as Ethereum for fiat, and you can use a credit card for it. Only MasterCard and Visa credit cards will be accepted currently.  One of the issues with this exchange is the fact that it services only 40 states.

When purchasing Bitcoin, a transaction fee of approximately 6% is charged by this exchange. This is so high because of the high-risk nature Bitcoin transactions have and the associated processing of card transactions. The primary benefit of this exchange is that they have high purchase limits. You are able to buy $5,000 of Bitcoin per day and up to $30,000 per month.


BitPandaYou have to be a European resident to buy crypto at BitPanda. Many people find this annoying as BitPanda has some of the lowest transaction fees of between 3 to 4%. As the exchange has a European focus, it might be harder for residents of other countries to open accounts and buy Bitcoin. However, the exchange is able to provide selling options for people around the world.

Residents of European countries are able to easily use their Visa or MasterCard credit cards to get Bitcoin. Of course, you will have to go through account verification to limit the chances of fraud. BitPanda is a trusted as well as a reliable exchange that makes it easy for people in Europe to get Bitcoin with their credit card.


CEX.IOCEX.IO is one of the oldest exchanges out there and it operates in many different countries from South America to Europe. They also offer a fairly low transaction fee when compared to other exchanges.

If you are a resident of the United States, you have to note that this Bitcoin exchange does not operate in every state. If you live in one of the states which are not supported, you will be unable to purchase Bitcoin here. Another problem that people have with this exchange is the extensive verification process that you need to complete to open an account.

The whole process can take around 30 minutes to do. This can be increased as the information they require includes personal information as well as a photograph. However, this is something that you will find with almost any reputable exchange that is to comply with anti-money laundering policies.

What About Coinbase?

If you are not completely new to Bitcoin or cryptocurrencies, you will know about Coinbase as it is the biggest exchange out there. However, it has not been covered in the list of places where Bitcoin can be acquired using credit cards. This is down to changes that have been made after the banks imposed restrictions on purchasing Bitcoin with a credit card.

Previously, Coinbase did support Bitcoin purchasing with credit cards, but this is no longer true. If you open a new account with Coinbase, you cannot add and verify a credit card anymore. This feature has been suspended and cards only work for people who were already using them. Even these people are being told by Coinbase that they should change their payment method to either a bank account or debit card.

Purchasing Bitcoin via credit card should be easy if you are working with the correct exchange and the correct card. MasterCard and Visa are accepted by some exchanges, and these companies allow for these transactions to be completed. The problem comes with the bank that issues the card as well as the exchange because they do not all accept credit cards.

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