How to use credit cards to buy bitcoin

Credit/debit cards are a relatively easy and convenient option for paying for your Bitcoin purchases. This payment option is also supported by most major exchanges like Coinbase, Coinmama, and Bitpanda. Additionally, paying for BTC with your card is safe, as long as you’re dealing with reputable exchanges. On the downside, cards have restrictive transaction limits, which may disadvantage large buyers.

We also list what to look for in an https://www.tokenexus.com/ when buying Bitcoin with a credit card. You need to factor in the potentiality of the purchase being marked as a cash advance, as well as interest being applied on your next statement. Additionally, most brokers will charge you a trading commission on the purchase. To this end, it is essential to state here that Binance is not a coin that is recommended for investors who are new in the crypto business. The only time that people recommend the platform is when the user has had some sufficient experience in the crypto trading market.

Share trading? Three shares with turnaround potential

Unlike Wirex, it doesn’t hide any How to buy Bitcoin with a credit card in the BTC to GBP exchange rate though. However, you don’t need to order a Wirex Card in order to buy Bitcoin with a credit card using its platform. You will have a more limited experience on their platform if you don’t get one, but it can be avoided. For these reasons, I would personally never buy Bitcoin with a credit card. It’s cheaper and a lot less hassle to just use a debit card or UK bank transfer.

Like when you buy Bitcoin through this app, you’ll be quoted the real exchange rate and be charged the same 2.99% fee if you buy them with a credit card. Purchasing Bitcoin with a credit card might seem convenient but it carries a lot more risk than using funds in your bank account. Using a credit card means you are taking on debt which is going to compound rapidly if you don’t pay it off immediately. Taking on debt to invest in anything – especially a volatile asset like Bitcoin – is particularly ill-advised because you could wind up losing more than your initial investment. Though uncommon, there are credit cards that charge 0% on cash advances, such as the Barclaycard Rewards Credit Card. However, taking on debt to buy Bitcoin is not advisable.

About Adam Green PRO INVESTOR

NatWest Rooster Money starts children on their journey to money confidence. You wouldn’t have to rely on bank transfer alone before you can buy Bitcoin. When you’re happy with the quoted price, click ‘Buy Bitcoin Instantly’ on the left side of the page. Coinbase is an easy, quick, and very popular way to buy bitcoin in the UK. Find out more in my Crypto.com review or click the link below to download the app and check it out yourself.