Why buying bitcoin with a credit or debit card is a good idea? | CoinCasso Exchange

In the past it was impossible to buy digital currencies with a credit or debit card. As technology advances, the ability to pay for digital assets changes. Nowadays, buying Bitcoin with a credit card can be really easy. Find out why it is worth using this form of payment.

Benefits of buying BTC with a card

The option to purchase Bitcoin with a credit card allows investors to pay in FIAT currencies, which is not possible on many exchanges. Therefore, it is an easy and quick option for those who are buying surreptitiously for the first time or for buyers who want the transaction to take place without any delays, as is the case with bank transfers or PayPal.

Due to a simple credit card interface, the exchanges and platforms that offer this form of payment are often user-friendly. Credit card payment is an ideal solution for beginner investors, who often cannot cope with the difficult process of buying digital assets on more advanced exchanges.

The use of credit and debit cards is slowly becoming one of the most popular forms of payment for digital assets. Bank transfers often take several days. This is a very inconvenient process for users and, on the one hand, dangerous due to hacker attacks. The speed of credit and debit card purchases therefore provides greater security for users.

bitcoin credit card

Source: Coinspeaker.comCoinspeaker.com

The reason why consumers often buy BTC with a credit card is because of leverage. This is a process that is based on high risk. If the purchase of Bitcoin is not treated as a cash advance, the credit card allows the use of large lines of credit and takes the profit from this, obtained from price fluctuations.

If this is the main reason you buy BTC with your card, be careful. Spending more than you can afford to spend, it is easy to debt your card for a huge amount of money.


In addition to the many advantages of buying covertly with a credit card, there are also some disadvantages that are worth looking into. One of the main disadvantages is the high transaction fees. With every debit card trading operation on the exchange crypto, there will probably be no fee lower than 5%. That is why investors usually give up this type of purchase.

Another disadvantage that is worth discussing is the limit imposed on credit cards to purchase digital assets. These limits are observed due to the risks associated with crypto purchases through the stock exchange. Banks must make sure that their customers’ funds are safe. Because the cards have such limits, larger investors who can use more capital will forego using them.

If you want to trade anonymously, using a credit or debit card is not a good solution. Why? The bank account must be connected to the card. In addition, it is mandatory to provide photo IDs in order to make a purchase on an exchange offering credit and debit card payments. Crypto exchange platforms are asking for this because they try to maintain the highest level of security and protect the personal data of their customers.

It is also worth remembering that buying cryptocurrencies with a credit card can affect your creditworthiness. The more you use your credit limit when buying BTC, the lower your creditworthiness is. Only after you pay off your card will your ability return to normal. You must keep this in mind when you are going to apply for a mortgage or loan.

Summary of positive and negative sides

There are many positive as well as negative features of credit card purchases, so it is worth summarizing it briefly.

It is an easy and quick payment option especially for people who start their adventure with crypto.
Thanks to the speed of transaction execution, this form of payment is more secure for users.
The possibility of using margin trading. Additionally, if the crypto exchange platform has the option of leveraged trading, a leverage effect can be achieved. This potentially allows you to earn more money.

High trading fees. Often above 5%.
Limits for buying digital assets.
No anonymity.
Impact on creditworthiness.


If all the negative sides mentioned above have made you want to postpone your Bitcoin purchase using a credit card directly from the exchange, one of the alternatives is to use your eWallet from a regulated payment provider. This process is slightly longer than a direct purchase, but offers many more benefits. You can use your card to deposit money into your wallet in a few minutes – bypassing traditional bank waiting times.

Sometimes providers do not charge for this process, which is a very good option compared to banks, which charge high commissions for each operation. Connect your e-wallet to the exchange of assets in the form of a FIAT/script, you can use it to buy, sell and store Bitcoin. Currently, the choice of e-wallets is huge. The most popular are PayPal, which boasts over 200 million users in 190 countries, Skrill or Neteller.

paypal and bitcoin payments

Source: medium.com

Banks make it difficult

Although crypto is becoming increasingly popular, banking institutions often fail to see the potential of digital assets. Therefore, in some institutions it is not possible to buy Bitcoin with a credit card. The main reason is that banks do not want their customers to get into debt in this way, because they usually buy BTC with the hope of making a quick profit. Unfortunately, sometimes the market fails, and the debt remains.

This prevents consumers from using the system. And the banks do not take into account that investors also profit from operating on the crypto market.


At the moment, if you want to buy cryptocurrencies with a credit or debit card, the market rate for each transaction is about 5%. Although this fee seems to be very high, especially for regular transactions, you can see the benefits of this form of payment.

Using bank transfer is indeed a more cost-effective option, but with long delays in the transaction, it is important that you are informed about the other payment options available.

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