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Tim Leatherworx
Tim Leatherworx

Where To Buy Cryptocurrency With Credit Card

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Where To Buy Cryptocurrency With Credit Card

From crypto exchanges that collapse overnight to extreme price volatility, cryptocurrency investing is riddled with risks. But the payment method you use to purchase crypto can increase your risk of loss even further.

Most exchanges allow you to buy cryptocurrency using a variety of payment methods, including debit cards, ACH transfers from your bank, PayPal, or even credit cards. If credit seems like the obvious choice, you may want to think again, since your creditor might block the purchase, or even process it as a high-interest, high-fee cash advance loan.

In short, yes you can buy crypto with a credit card. Some of the most popular cryptocurrency exchanges allow you to make purchases with credit cards when you set up your payment method in your account.

There are a lot of reasons and parameters to take into consideration when buying crypto with a card. In this article, we'll see if you can buy crypto with a credit card, if not then what are the reasons, and if yes, then what is the best site to buy cryptocurrency with a credit card?

Buying cryptocurrency with a credit card is a tedious process. First, you have to find an exchange that facilitates buying and selling of cryptocurrency, similar to a stock exchange. Bitcoin, Ethereum, and Dogecoin are bought and sold using crypto exchanges. Each crypto exchange has its own set rules, fees, payment times, and selection of coins.

Exchanges, such as Coinbase, Gemini, and Binance.US, don't allow credit card purchases, whereas others may accept but only from people living in a certain country or state. For the companies that will accept credit cards, you might have to pay 3% or more for your transaction.

That's not the end of trouble...there's more. Even if you are ready to pay the exchange's fees to use your card to buy crypto, there might still be some issuer with your credit card company. The purchase of cryptocurrency has been forbidden by most of the major card companies. But why so?

However, not every credit card company is the same. There are several credit card companies that let you use their cards to buy cryptocurrency. So, if you manage to obtain one that permits cryptocurrency purchases, this is how you should go.

Earning points while buying Bitcoin with a credit card is a benefit. However, the majority of card issuers that permit cryptocurrency purchases classify them as cash advances. This way you won't be eligible for credit card benefits or a welcome bonus.

In conclusion, if you want to buy cryptocurrency with a credit card it comes down to if you can versus if you should. Can you buy crypto with your card? If you find a card issuer that allows you to buy crypto and find an exchange that accepts credit cards, you definitely can. But should you buy crypto with your card? It's not a good idea since there are more drawbacks to purchasing cryptocurrencies using a credit card than benefits.

The short answer is yes, you can buy cryptocurrency with a credit card. However, this largely depends on your credit card issuer and the cryptocurrency exchange platform, says Maxim Manturov, head of investment research at Freedom Finance Europe, an international investment company.

To buy and sell cryptocurrency, you first need to join an exchange. This is a platform that facilitates crypto transactions, much like a stock exchange. Many of the most popular exchanges don't allow credit card transactions. For instance, one of the largest crypto exchange platforms, Coinbase, allows credit card purchases in Europe and the United Kingdom but not in the U.S., Manturov says. On the other hand, exchanges such as CEX.IO, eToro and Coinmama do accept credit cards in the U.S., but only Visa and Mastercard.

"However, the main drawback isn't actually the availability of credit cards as a payment method, but rather the fees involved with purchasing via a credit card," Manturov says. For example, Coinmama charges a transaction fee based on the m


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