Before you buy
There are many places that offer you to buy Bitcoin with credit card nowadays. However, not all of them are trustworthy. A part of these services are scams that want to collect your credit card information or simply receive the money without sending any Bitcoin in exchange.
Because of that, we advise you to stick to the services mentioned in the article. All the exchanges in this list proved to be trustworthy. They served thousands of clients over the course of the last few years and are reliable businesses, not scams.
However, if you do decide to use a service not mentioned here, make sure to do some research before sending your money:
- Check the reviews of the service online. Make sure to check the negative reviews first. If the user feedback seems overly positive for no reason, some of the reviews can be sponsored by the service – keep that in mind.
- When visiting the website of the service you choose, make sure it has https connection (a lock sign in the address bar).
- Check the fees. Overly low fees or suspiciously good exchange rate are red flags.
7 most popular places to buy Bitcoin with credit card
Founded in 2012, Coinbase is one of the oldest and most popular services for buying Bitcoin. With more than 30 million users as per 2019, it is the largest Bitcoin broker.
Currently, Coinbase supports more than 50 countries, US included. The service accepts both Visa and Mastercard in Europe, Australia, Canada and USA. US residents can also buy cryptocurrencies via bank transfer. PayPal is supported as well, albeit for withdrawals only.
The fees vary between 1.5% and 4% depending on the country and payment method.
The service also has a few tricks up its sleeve. For example, the account balance is FDIC insured for up to 250 000 USD. What’s more, the interface is extremely fluid and easy-to-use. The last but not the least, users can earn little amounts of certain cryptocurrencies by learning more about them thanks to the Coinbase Earn.
Users also have an option to complete verification by submitting phone number, photo ID and personal information. After the process is complete, the limits raise significantly. For example, US residents that have completed all steps of verification can deposit up to 25 000 USD per day.
- Extremely reliable
- High, but still not the highest limits around
Previously, Binance was a cryptocurrency-only exchange. It was impossible to buy Bitcoin or any other coin on it using a credit card or bank account. However, it’s not the case now.
Binance now has several fiat gateways, and their number is steadily growing. The company plans to support 180 currencies to allow customers from any country purchase cryptocurrency.
In order to make it possible, the company partners with third-party payment platforms. Here are some of them:
- AdvCash – added support for EUR, RUB, UAH and KZT
- FlutterWave – added support for Nigerian Naira (NGN)
The deposit fee will depend on the service.
- Growing list of supported fiat currencies
- Great reputation
- Fees can vary depending on the service
Unlike services like Coinbase, LocalBitcoins is a P2P fiat-to-crypto exchange. The company does not provide exchange services; the users do.
Let’s say someone in your country wants to sell some Bitcoin. This person lists an amount of BTC he/she is ready to sell, the preferred payment method (PayPal, cash, bank transfer, credit card) and the amount of money he/she expects to receive. The offer details are then listed on the website.
When you browse LocalBitcoins, you can see all such offers available in your country. If an order has interested you, you have to choose it, enter the amount you are ready to pay and send a trade request.
Once your trade request is sent, the bitcoins of the seller get locked by the escrow. You are given a certain payment window. If you manage to pay the right amount in time, you get bitcoins.
It is worth noting that the whole system also works in reverse, e.g. if you want to sell Bitcoin, you browse available buy offers.
The service also has a trader rating system. The rating is visible to all users and discourages traders to be dishonest.
- Seller rating system
- Not as secure as some other options; user rating system still can not be 100% reliable
- Available payment methods depend on the user offers
Coinmama is a reliable global service that allows users to buy Bitcoin, as well as several other large cryptocurrencies with credit and debit cards. It works in most countries (except those with bans on cryptocurrency).
Important: in order to use the service, you have to have a wallet Coinmama will send you bitcoins to. The exchange itself does not provide any kind of storage solution.
It is possible to purchase from approximately 60 USD to 1 million USD worth of cryptocurrency on Coinmama. However, the exact maximum amount varies depending on how much personal information you have submitted. For example, if you have submitted just a photo of a valid government-issued ID, you pass Level 1 verification and are eligible to purchase up to 15 000 USD worth of coins. In order to pass Level 3 (up to 1 million USD), you have to provide two valid government issued IDs, a photo of you holding the IDs and fill out a short form provided by Coinmama.
The main downside of the service are its high fees – 5.5%. Another disadvantage is that it can only be used for buying, not selling cryptocurrency – something that most of its competitors offer.
- Big limits once you pass KYC
- Good reputation
- High fees
Founded in 2013, Luno was originally known as BitX. It has over 2 million users worldwide.
This exchange is mainly aimed at users in developing countries, including Nigeria and Indonesia. It supports credit and debit cards, as well as several other services depending on the exact location. For example, Nigerian residents can also use Paystack or GT Bank transfer.
Maximum buy limits are low compared to most other services. However, verification requirements are lower as well. For example, in order to receive Level 1 verification (max deposit/withdrawal of 1000 euros), only a phone number is needed. The absolute maximum limit is 100 000 EUR. It requires phone, ID and proof of residence to be submitted.
- Supports several regional payment services
- Comparatively low KYC requirements
- Complicated fee system
- Relatively low limit
Bitpanda is one of the best options for EU residents. Founded in 2014, this service offers a wide selection of cryptocurrencies and payment methods. Currently, it allows users to buy and sell over 20 coins, including Bitcoin, IOTA, Ethereum, Waves (one of the most underrated coins) and other ones.
Available payment methods include credit and debit cards, as well as bank transfer. The fees vary depending on the exact payment service; bank transfers are free of charge. However, the fees are incorporated in the coin price, so it may be hard to tell how big they precisely are.
One of the strongest sides of Bitpanda are extremely high withdrawal limits. How does up to 500 000 EUR per day via a SEPA transfer for verified users sound? However, it has to be noted that unverified users are extremely underprivileged, not being able to make fiat deposits at all. Completing verification is a must when using Bitpanda.
- Extremely high withdrawal limits
- Not very useful for those living outside the EU
- Fees incorporated in price
Founded in 2013, CEX.io was originally a provider of cloud mining services. However, just after 2 years, the company turned away from cloud mining, instead opting to concentrate on BTC brokerage services.
The service supports credit and debit cards, as well as wire transfers. As for the coins, CEX supports Bitcoin, Ethereum and few other large cap altcoins. All of them can be purchased with USD, but some can also be bought with EUR, GBP or RUB.
The main disadvantage of the service are the relatively high fees – up to 7%. This is one of the highest values among comparable services out there.
However, the service also has its own “killer feature” – high limits. At first glance they seem to be low, with ID verified accounts allowed to buy up to 1000 USD worth of Bitcoin per day and 3000 USD worth of BTC per month. However, after completing address verification, these limits rise to 200 000 USD and 500 000 USD respectively. And it gets better: Enhanced Corporate verified accounts have no limits at all.
- Extremely high limits
- Fee structure
Frequently asked questions
Can I store my coins on the same exchange where I bought them?
Technically, you can store the coins on most exchanges after buying. However, it’s a terrible idea. The coins aren’t actually yours: they are stored on the wallet of the exchange. If an exchange gets hacked, they can be stolen. A much, much better idea is to transfer them immediately to your Bitcoin wallet. The most secure type of wallet is a physical one (here are the 7 best options).
Can I earn bitcoins and other cryptocurrencies instead of buying them?
Sure! If you are looking for ways of earning cryptocurrency, check out our guide.
Can I buy bitcoins with Discover Card?
Yes! CEX.io supports Discover card, you can use it to buy BTC and altcoins there.
We hope you enjoyed the article. If you find it helpful, share it and join our community and digest!