Buy Bitcoin with Credit or Debit Card
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Buy Bitcoin with Credit or Debit Card

written by John Murphy | February 23, 2023

Bitcoin is king in cryptocurrency, and everyone wants to own it. Although there are numerous ways to buy Bitcoin, investors always search for the most cost-effective means. So, if you are strangled with deciding whether to buy Bitcoin with credit or debit card, here is everything you need to know.

Despite turbulent times in the crypto market, people still search for how to buy Bitcoin. It becomes interesting as they have options; since the fastest cryptocurrencies keep flooding the market, Bitcoins remain at the top.

Buying cryptocurrency in a highly volatile environment can go either way, so every penny matters. Therefore, choosing an option that will cost the least is vital to avoid extra charges.

Here is a detailed guide on whether to buy Bitcoin with credit or debit cards.

Buying Bitcoin with Credit Card

Investors can easily buy Bitcoin with credit by following the simple steps below.

  • Sign Up with a Crypto Exchange

First, you need to have an account with any decentralized crypto exchange. There are quite a few options available in the market. Each crypto exchange has its own set of rules and charges. So, checking details about the exchange before opening an account is important.

Generally, the following are major points of concern to check in a crypto exchange.

  • Transaction fees
  • Security
  • Bitcoin availability
  • Payment method (whether a credit card is accepted or not)
  • Amount restriction, if any

Once you have gone through the above details and decided about a cryptocurrency, you are good to proceed further.

  • Paying with a Credit Card

After successfully signing up with an exchange, the next step is depositing funds into your account. So, now you need to use your credit card to make a deposit.

The transfer process is straightforward; you must pay just like any other payment using your credit card.

However, one key point is that credit card payments to buy Bitcoin are treated as cash advances; thus, banks will charge higher interest rates. In addition, you may also have to bear a surcharge for using a credit card and a brokerage fee as well.

Therefore, buying Bitcoin with a credit card is not advisable, as it costs more than usual.

  • Place an Order

Within the crypto exchange you have signed up for, search for Bitcoins either by entering its name or short key BTC. Then, place your order by entering the amount of fiat money you want to spend or by entering the number of BTCs you want in your crypto wallet.

  • Store Bitcoins

After purchasing authentications, you will receive Bitcoins in your crypto wallet. You can store it with your exchange or transfer it to a self-custodial cold wallet. However, a few crypto exchanges may also apply withdrawal charges, so check these before proceeding further.

Pros of Buying Bitcoin with a Credit Card

  • Buy Bitcoins even if you do not have cash
  • You can earn cash-back rewards
  • Transaction speed is high while making the payment with credit cards
  • Deferred payment facility


  • You have a debt to pay when you make a payment with a credit card
  • Higher interest charges
  • Buying Bitcoin with a Debit Card

The process for buying Bitcoins with a debit card is almost the same as for buying with a credit card. The only difference is that instead of linking a credit card, you will add a debit card to deposit to your crypto exchange account.

However, the rest of the steps remains the same.

Pros of Buying Bitcoin with a Debit Card

  • Buy with your own money without worrying about paying later
  • Safe and secure payment option
  • Instant transfer
  • All crypto exchanges accept payments from debit card


  • Slow approval mechanism
  • Upfront payment

Credit Card or Debit Card

So, the question remains whether to buy Bitcoin with credit or debit cards. We recommend buying Bitcoins with a debit credit based on the information and methodology. One of the major reason for this option because it do not charge you extra money. However, with a credit card, you have to pay extra dollars.

Therefore, it is not advisable to buy bitcoin with credit or debit card,. Although offering a deferred payment may seem a good option, it will cost much more than you actually spend. 

Since credit card payments for Bitcoins are treated as cash payments, thus interest rates are much higher than regular credit payments.

Thus, we suggest using debit cards to buy Bitcoins rather than credit cards.

Frequently Asked Questions

Can I buy Bitcoin with a credit card?

Yes, you can buy Bitcoins with credit cards. However, your crypto exchange should accept a credit card payment option. Payments through credit cards are made just as any other regular payment; verify transactions and buy Bitcoins.

Are there fees for paying through a credit card for Bitcoin?

Most payments through credit cards for buying Bitcoin are treated as advance cash, with higher charges than usual. Moreover, you may have to pay brokerage charges and late payment surcharges.

Can I buy Bitcoins with a debit card?

Buying Bitcoins with a debit card is possible across all major crypto exchanges. So, open an account and use your debit card to purchase Bitcoins.

Parting Thoughts

Deciding whether to buy Bitcoin with a credit or debit card is a decision each investor has to go through. Although it solely depends on the purchase type and available funds, we recommend using a debit card.

Each type of card has pros and cons, but credit card payments are charged at higher interest rates. Therefore, avoiding payments from a credit card is a better option; otherwise, you will have to pay more than actual you buy.

Moreover, crypto exchanges will want you to open an account before allowing a purchase. However, once your account is open, you can link your card with the exchange and buy Bitcoins.

Similarly, new users searching for answers to buying cryptocurrency may also want to select a payment option – a debit or credit card.

In the comments section, please let us know your preferred way of buying Bitcoins.