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Business News›Industry›Banking/Finance›Finance›How to Buy Crypto with Credit
Card - Beginner’s Guide

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HOW TO BUY CRYPTO WITH CREDIT CARD - BEGINNER’S GUIDE

SECTIONS
How to Buy Crypto with Credit Card - Beginner’s Guide
MediawireLast Updated: Mar 31, 2022, 04:45 PM IST

Buying cryptocurrency is now easy in 2022 with the availability of many types of
payment options now accepted that weren’t previously when crypto was in its
infancy. Many investors prefer the tried-and-tested credit card payment method
as it affords high-security and seamless purchases.

If you plan to sign up to online crypto exchanges and get started investing,
this guide is for you - we’ll review how to buy crypto with a credit card.

How to Buy Cryptocurrency with Credit Card - Quick Steps

On eToro, you can buy crypto with credit card – including Bitcoin and over 50
other cryptocurrencies. Here is a quick guide on how to buy crypto with credit
card on eToro:

Step 1: Open an Account with eToro

Create an account on eToro’s website. Fill in your details or link your Facebook
or Google account.

Step 2: Verify Account

This stage requires uploading a government-issued ID such as a passport or
driver’s license. Legal documents containing your address line are also
considered.

Step 3: Deposit

After verification, eToro will send you an email confirming that you are ready
to start trading. Next, make a deposit using your credit card and opt to link
your card if you plan to use the same payment medium regularly.

Step 4: Buy Crypto

Buy your first crypto using your deposited funds. Just type the coin you want to
purchase, input the amount, and click “Open Trade” or “Set Order.”

Where to Buy Crypto with Credit Card

Below we’ll take a closer look the best cryptocurrency platforms to buy crypto
with credit card and review each.

eToro

Early to spot the huge opportunity in crypto, eToro is one of the first
companies to allow digital asset trading. It began offering Bitcoin way back in
2013.

This long exposure in the space is a big advantage since it managed to build its
name as a trusted crypto platform over the years. Recently hitting a milestone
of 20 million users, eToro is regulated by the FCA, ASIC and CySEC, and accepts
traders from most countries in the world, including the US and UK.

The site offers a very straightforward way to invest. Under every account’s
“Discover” section, traders can access the “Crypto” section where coins are
featured. As of this writing, it offers 39 coins available for trading. Each
coin listing contains direct and valuable information such as current price and
movement in the last 24 hours.

eToro also has a CopyTrader feature, where you can copy experts’ moves easily.
At the bottom of this crypto section is a list of expert crypto traders, their
stats, and individual return percentage for the day. This tool is a lifesaver
for newcomers and traders who do not have the luxury of time to do technical
analysis every day.

It charges 1.0% in every crypto transaction paid via Visa, Mastercard, and
Maestro credit cards. This is much lower than the industry average of up to 4%
(e.g. Coinbase when buying crypto with a card). In addition, it has a minimum
deposit of only $10 in the US and UK and $200 to use the CopyTrader feature.

Buy Crypto with credit card on eToro.

Cryptoassets are a highly volatile unregulated investment product. No UK or EU
investor protection.

Crypto.com

If you plan to buy Bitcoin with credit card, Crypto.com is another site you
should check out. Cryptocurrency investing involves a lot of price movements.
This means traders buy and sell their coins faster than stocks and other assets.

That’s precisely why many traders prefer this platform over others. It offers
one of the lowest trading fees in the market, especially for holders of its
native coin, Cronos (CRO). High-volume traders are charged as low as 0.04% as
makers and 0.1% as takers. You can barely feel the fee in every transaction.

Over 250 cryptocurrencies are available for trading on its platform, with a
$100,000 daily withdrawal limit. It also has popular NFTs like Alienworlds.

Buy Crypto with credit card on Crypto.com.

Cryptoassets are a highly volatile unregulated investment product. No UK or EU
investor protection.

Binance

Due to its geographic availability and advanced trading options, most traders
worldwide use Binance to trade cryptocurrency. It is available in over 140
countries, including 43 US states. It also supports various transactions,
including limit order, market order, stop-limit order, and peer-to-peer (P2P)
exchange.

Binance is known as the “place for altcoins,” a term it got since it offers over
500 cryptocurrencies for trading. It also serves as a breeding ground for
initial coin offerings and encourages existing users to participate in ICO
projects. Traders have the chance to earn through staking during the duration of
a crypto project. Moreover, the exchange organizes a variety of rewards
mechanisms where investors can increase their holdings without the need to trade
directly.

Binance appeals to all kinds of users, be it beginners or otherwise, as it
offers different trading view options. The classic view appeals to new market
entrants who are still learning about their style. While the advanced view is
for intermediate to expert investors with more market knowledge.

Buy Crypto with credit card on Binance.

Cryptoassets are a highly volatile unregulated investment product. No UK or EU
investor protection.

Why Buy Crypto with a Credit Card?

For those who see themselves taking crypto investing seriously for the long
haul, it should not only be a question about how to buy crypto with a credit
card. It should also be a question of why you should do it.

There are a lot of reasons why you should. Much to the advantage of traders,
card payments are proven to be secured, hassle-free, and direct. You can also
make a purchase through a cash advance when using a credit card which is rarely
available on other online payment platforms.

Cash Advance

Credit cards allow you to borrow money from the issuer when making a purchase.
This is a convenient option if you plan to make a big trade but do not have the
financial capability. However, remember to practice precaution since digital
assets are highly volatile, and you could lose big instantly.

Proven Security

Credit card payment is one of the foundational payment mediums on crypto
exchanges. It had proven itself a secured choice long before other transfer
options became available. Only verified accounts are allowed to transact, which
then are protected with high-security features such as multi-factor
authentication.

Instant Purchase

On average, buying crypto with credit card takes only five to ten minutes to
complete. This then becomes instant once you have linked your card details with
your trading account after the first purchase.

How to Buy Crypto with Credit Card on eToro - Tutorial

Now that you have decided to get started investing in crypto, here is how to buy
crypto with a credit card using FCA regulated platform eToro.

Step 1: Create an Account

First visit the official eToro website. Type your username, email, and password
in the space provided on the sign-up page. You may also link your Google or
Facebook account.

Step 2: Verify Account

eToro asks new users to confirm their email or mobile number before proceeding.
It employs a strict verification protocol to prevent fraud from happening. After
confirmation, you will be redirected to the platform automatically. Click
“Verify Account” on the dashboard and present government-issued IDs such as a
passport and driver’s license to continue.

Step 3: Deposit Funds Using a Credit Card

After verification, eToro will send you an email confirming your account’s
accreditation to trade and may now start depositing. For greater convenience,
you may also opt to link your credit card at this stage if you plan to use the
same payment medium regularly.

Step 4: Buy Your First Crypto

To purchase your first crypto using your credit card, just type the coin you
want to purchase on the search bar, input the amount, and click “Open Trade” or
“Set Order.” This is how to buy crypto with credit card, hassle-free for
beginners.

Buy Crypto with credit card on eToro.

Cryptoassets are a highly volatile unregulated investment product. No UK or EU
investor protection.

Disclaimer:

The above content is non-editorial, and BCCL hereby disclaims any and all
warranties, expressed or implied, relating to it, and does not guarantee, vouch
for or necessarily endorse any of the content.

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