Can You Buy Crypto with a Credit Card?

Bitcoin was the first cryptocurrency when it was first created in 2009. For nearly a decade after, cryptocurrency was very niche.

However, crypto has exploded in popularity in the past two years. Today, with Bitcoin hovering around $40,000/BTC, tons of people invest in crypto. It’s not out of the ordinary to see crypto ads on TV or companies accepting it as payment, either.

Fortunately, you can get in on the crypto world with a credit card nowadays.

In this post, we’ll show you how to buy crypto with a credit card and cover a few pros and cons.


How to Buy Crypto with a Credit Card

To buy cryptocurrency, you’ll have to visit a crypto exchange and link your credit card. Once your card is linked, you can select the crypto you want to buy and choose your desired amount.

Crypto Cashback

There are now some cards that let you earn cryptocurrency as cashback on your purchases, or let you invest your cashback points into the crypto of your choice.

These cards can be a great way for some people to passively invest in cryptocurrency.


Pros of Buying Crypto with a Credit Card

Buy Crypto Sooner

Crypto is known for wild price swings. It might be sitting at what you consider a cheap price one day, then jump a large amount per coin the next day.

Yet, you may not have the cash on hand just yet to buy — maybe your paycheck arrives in two days.

A credit card lets you buy instantly and take advantage of that presumed cheap price.

Potential Cashback

If your card issuer treats crypto investing like a regular purchase, you could potentially earn rewards on your investment when charged to a cash back credit card. You could then redeem this cashback to cover some of the cost of your investment, effectively earning you a small return right away.


Cons of Buying Crypto with Your Credit Card

May Not Be Allowed or Treated a Cash Advance

Some card issuers treat crypto purchases as cash advances. Cash advances charge you a fixed fee and accrue interest at a higher APR than your regular purchase APR.

Additionally, some card issuers don’t allow crypto purchases as all.

Transaction Fees

Some exchanges charge transaction fees for using a credit card to buy crypto. Additionally, if the exchange is located outside the US, you may pay a foreign transaction fee for each purchase.


Every crypto exchange has a specific daily buying limit. They’re often very high, but some may be within reach of your ability to spend.

The other limit to think about is your credit limit. You can quickly run up a balance if you buy too much cryptocurrency. You might get stuck in debt or harm your credit score with high utilization.


Invest in and Use Crypto with Your Credit Card, Carefully

If you have a credit card, you may be able to use it to buy cryptocurrency. This might help you take advantage of prices when you think they are cheap and earn cashback on crypto investments.

However, some card issuers treat these as cash advances or bar them entirely. Even if you’re allowed to buy with a credit card, you may owe transaction fees, and you’ll have to consider your credit limits and the exchange’s buying limits.

Lastly, keep in mind that crypto, like an investment, carries the risk of losses. It’s generally a good idea to only buy as much crypto as you’re willing to lose. That way, you can take advantage of potential gains in the crypto market without financial harm.

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Contact Information:

Name: Michael Bertini
Job Title: Consultant

IPS, Financial Content, English

Contact Information:

Name: Michael Bertini
Job Title: Consultant