How to Buy Crypto with Credit Card: A Quick Guide 2024

Susan Oh
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Susan Oh
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Susan Oh is a leading figure in the integration of AI and blockchain for social good, serving as the CMO for BeOmni by Beyond Imagination and a civic technologist dedicated to creating scalable solutions. She is a board member of the Blockchain Commission For Sustainable Development supported by the UN GA Office of Partnerships, and...
Yulia Zakharchuk
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Julia is a professional crypto and blockchain writer known for her insightful YouTube channel "MoneyFest." She showcases her dynamic presentation skills as a host and moderator at blockchain conferences. Julia drives also business development at ChainUp and advises UNITBOX, an innovative NFT renting protocol. With her exceptional expertise, Julia is a highly valued industry contributor...
how to buy crypto with credit card

Buying crypto with credit cards is not as hard as many people think. We have created a step-by-step guide to make it frictionless for you.

Key Takeaways

  1. Find an exchange that accepts your credit card.
  2. Create an account and complete the KYC process.
  3. Add your credit card details and buy crypto.
  4. Finally, transfer your tokens out of the exchange.

And voila, you’re done! Most things about buying cryptocurrency with a credit card aren’t easy when you do it for the first time. So, let’s understand how to buy crypto with a credit card.

Step 1: Finding the Right Exchange 

Cryptocurrency exchanges are probably the first thing people think of regarding how you can buy and trade cryptocurrencies. Exchanges usually charge lower fees than brokerage platforms like eToro and Charles Schwab.

Finding a suitable crypto exchange is probably the most challenging part of this process. This is because of the following reasons:

1. Your credit card may not work for the crypto exchange

Some crypto exchanges do not accept cryptocurrency purchases with credit card payments. For example, cryptocurrency exchange Coinbase does not allow crypto purchases with a credit card for U.S. customers. You can only use your crypto purchase account for purchases with a debit card or ACH transfer from your own crypto purchase account to your bank.

The ones that accept credit cards from other credit card companies do not accept all of them. However, Binance accepts buying Bitcoin and other cryptos with credit cards. We got you covered.

2. Credit card Company’s cash advance fees

Buying crypto with your credit card will count as a cash advance. That means you may have to pay higher fees, a.k.a cash advance fees, pay back the amount faster and will have a smaller credit limit for such crypto purchases. 

3. Credit card issuers do not offer credit card rewards for cash advances

Since these crypto purchases transactions are counted as cash advances, the credit card issuer will not provide you with any credit card rewards for such credit card and cryptocurrency purchases. purchases

4. Some major credit card issuers do not allow you to purchase crypto

Popular credit card issuers like Bank of America, Chase, and Discover do not allow any crypto purchases on their credit cards. That doesn’t make using your credit card for crypto purchases all that inviting. But, as mentioned above, we can still buy crypto with a credit card and do it without too much difficulty.

Where, you ask?

Exchanges that accept credit card payments.

  • Binance – The largest exchange in the world regarding trading volume.
  • ByBit – Has over 10 million users across 180 countries.
  • Pionex – Offers one of the lowest fees for credit card transactions.
  • Coinbase – A popular exchange that allows users to buy and sell crypto for fiat currency.
  • – Allows users to trade over 250 different cryptocurrencies. 

If you already have an account on one of these exchanges, you might prefer saving yourself the time it takes to verify a new profile. Many of these exchanges have a KYC policy that can take a few days to complete.

If you buy cryptocurrency or not, you may have to go through the usual drill to buy cryptocurrencies from these platforms.

Which Credit Card Issuer or Credit Card Company Works Best? 

A credit card issuer is the bank that issues your credit card balance. This credit card issuer is usually a bank like American Express or an institution like Brex.

A credit card company, however, is a broader term that includes banks, unions, and payment networks that accept credit cards, keep credit card information, etc. The one that you should pay more attention to is the payment network your credit card issuer or credit card companies are using.

Most cryptocurrency exchanges accept such payments from both Visa and Mastercard credit cards. So, you should be good to purchase cryptocurrency with a debit or credit card if you have one from either of these networks.

Now that we know what to look for, let’s go through how you can buy the cryptocurrency you are looking for at some of these exchanges. Note that the following steps apply to most exchanges. 

Step 2: Creating an Account on Binance

The initial account creation can be pretty easy on some platforms. Here is how you would do it on some of the most popular ones. We will use Binance as an example.

To easily create an account on Binance, click the [Get Started] button.

Most Used
Tradable Coins
  • 600+
Payment Options
  • +3
  • 0.1 – 0.5%

More details

Binance is a great combination of low fees, deep liquidity and multiple cryptocurrencies and trading pairs. We have tested every aspect of it and it STILL holds its reign as the top exchange in the world. In our view, it is the perfect crypto exchange for both newbies and advanced traders alike.

  • Biggest exchange in the world.

  • Industry's lowest trading fees.

  • Advance trading options like leverage trading.

  • 600+ crypto options, 150+ for the US.

  • Lucrative on-site staking options.

  • Hiccups in account verification.

  • Less regulated than some competitors.

  • The corporate structure is not transparently.

Alternatively, visit the Binance home page and click [Register].

Binance sign up button
Binance Register Button.
Binance sign up details
Binance sign-up details.

All you need to do to sign up on Binance is go to Binance and click [Sign up]. Then, choose your preferred log-in method. You can use your e-mail, phone number, or Google account. Enter the verification code you receive. 

And you’re done. Wasn’t that simple?

You can also follow similar steps to sign up on Pionex and ByBit.

Step 3: Verifying Your Identity

Many exchanges require ID verification before they allow you to the cryptocurrency exchange buy cryptocurrencies for fiat money (USD, for example.)

This may involve pictures of your ID card or driver’s license, selfies or facial verification, and photos of you holding a card with a specific prompt that the exchange may provide. The exact details of the process differ from platform to platform.

Generally speaking, the first level should be proof of identity. This is where ID cards and facial recognition come in. The second level should be proof of address. It should involve proving where exactly it is that you live. Higher levels may involve other specific information.

Some platforms are more strict than others in terms of their KYC policies. Similarly, their time to approve and verify your account may vary. It may take anywhere from a few hours to a few days.

How to verify your identity on some popular exchanges  

Binance requires KYC verification before using your credit card to buy cryptocurrencies on the exchange. You can not do much of anything on Binance without completing the KYC process first. 

Starting the verification process on Binance
Starting the verification process on Binance.

The first step is putting in the following details.

Personal info for KYC
Personal info for KYC.

The second step is verifying your ID using the following three types of documents, i.e., government ID, driver’s license, or passport.

ID verification Binance
ID verification Binance.

Once you submit these documents, you must submit a selfie and complete the facial recognition procedure.

Submitting a selfie for Binance KYC
Submitting a selfie for Binance KYC.

Facial recognition is the last step of the process. Once you’re done with it, all you have to do is sit back, relax, and wait for an e-mail from Binance confirming your KYC process completion.

Financial recognition for KYC
Financial recognition for Binance KYC

The levels of verification on Binance are as follows:

  • Level 1 requires your personal information and identity verification. This is done through selfies and a couple of other checks.
  • Level 2 is, as we mentioned above, proof of address. This may involve a domicile certificate or any other document verifying where you live.

Each level you complete increases your credit limit and transaction limits.

Like many other crypto exchanges, Pionex requires KYC ID verification before using your credit card to buy Bitcoin or any cryptocurrency off the platform. Pionex only allows you to use your credit card to buy crypto after reaching a level 2 verification. This level requires a government-issued ID and facial recognition. The same applies to ByBit.

Step 4: Buying crypto

Once you have completed the steps we just laid out above, the hard part of the crypto investment is over. All you have to do now is to make a crypto account, buy crypto, and transfer your crypto somewhere safe.

Here is how you can finally buy crypto using your credit card on some of the abovementioned crypto exchanges. Depending on your credit card agreement and exchange, this can go one of two ways:

  1. The first is to deposit the money into your bank account and then buy crypto with a credit of that money.
  2. The second way is to get someone to buy crypto with a credit card number or transaction order. And then deposit the relevant amount afterward. Note that the crypto will only be available after the transaction is confirmed if you go that route.

Either way is pretty straightforward and should not be much of a problem.

How to buy crypto on Binance

On the Binance homepage, click on [Buy Crypto]. This should make the relevant dialog box show up.

Buying crypto on Binance with credit card
Buying crypto on Binance.

Specify the cryptocurrency and the amount you’d like to buy.

How to Buy Crypto with Debit/Credit
Specify the crypto on the Binance App.

After that, you can put in your new card details.

Entering your credit card details on Binance
Entering your credit card details on Binance.

You should see your transaction details once your card details are valid and confirmed. This includes the amount to be paid, Binance’s handling fee, and what you should receive in your account.

Note that Binance may charge either 3.5% of the amount or $10 as a fee for this service. 

Once you confirm the bank transfer transaction, the amount should go to your Binance account.

You can also use similar steps to buy other cryptos from Bybit and Pionex.

Step 5: Transferring your crypto 

Many exchanges have their custodial wallets. When you buy any crypto on these exchanges, it goes to these wallets. 

You may want to keep your crypto in these wallets if you want to use them in exchange for something like trading. But if you don’t, you can transfer your assets from crypto exchange to your wallet, like Metamask or Exodus. Here’s how.

How to withdraw crypto from an exchange

Let’s start with Binance.

Making a withdrawal on Binance
Making a withdrawal on Binance.

Click on the [Withdraw] option on mobile or desktop. Input the necessary details, and click on [Withdraw] to confirm the transaction.

You should look at the transaction details, including the amount spent, the withdrawal fee, and the net crypto tokens you should receive before you confirm the transaction.

It’s a similar story to Pionex and ByBit as well. They have similar interfaces for withdrawing cryptocurrency from your account. Follow the same steps here as for the other exchanges mentioned above. 

That was easy. But don’t take it too easy. You could still mess up this seemingly easy task in some areas. And some things you should keep in mind generally.

Things to consider when transferring your crypto

  1. Having the right address

Make sure you have the right wallet address. Sending your assets to the wrong wallet could mean losing them forever.

  1. A supporting wallet 

You also must ensure that the wallet you send your crypto to supports that particular asset. For example, if my receiving wallet does not support Tezor tokens, I could lose them by transferring them to such a wallet.

  1. Withdrawal fees

Every exchange has a withdrawal fee. Even though the typical fee may be minimal, you should still be aware.

  1. Foreign transaction fees

You may also have to pay a foreign transaction fee if you purchase your tokens on any popular crypto exchange using a foreign currency.


Most platforms prefer that you buy crypto with debit cards instead of using or buying crypto with a credit card. Using or even purchasing cryptocurrency with a credit card can have unfavorable consequences like higher interest rates, shorter grace periods, and smaller credit limits.

That said, plenty of exchanges still allow you to do so. All you have to do is find one that suits you. Follow the steps listed above, like completing the KYC procedure, and you should be ready.