Purchasing Bitcoin (BTC) with a credit or debit card was once incredibly complicated. Fortunately, numerous platforms have made the procedure quick and straightforward.

If you're used to making all of your spendings with a credit card, you might be astonished to hear that purchasing Bitcoin and other cryptocurrencies maybe not as easy. If you try, you might be restricted in two ways: by the cryptocurrency exchange where you are trying to buy it or by your credit card issuer.

Even if you can convert dollars for Bitcoins using a credit card from a smaller bank, you would not want to. 

Luckily, there are several popular exchanges that allowed clients to buy Bitcoin using credit cards:

  1. Coinbase
  2. Coinmama
  3. Luno

This article compiles those 3 popular exchanges where you can buy cryptocurrency with a credit or debit card.

 

Coinbase

A US-based cryptocurrency exchange, Coinbase provides easy payment for Bitcoin and other coins buying. Follow the steps below to purchase Bitcoin on Coinbase:

  1. New user need to sign up for an account, follow the steps and activate it;
  2. Choose to Add a Credit or Debit Card option;
  3. Enter Credit or Debit card details;
  4. Add a billing address for the Credit Card;
  5. A window will pop up, and you can start purchasing Bitcoin from there.

Coinbase generates the consumer exchange rate ("consumer exchange rate") by adding a margin or spreads (the "spread") to the market exchange rate on Coinbase Pro (the "Pro exchange rate"). In addition to the spread, Coinbase might charge an additional fee (the "Coinbase Cost") that is either a flat fee or a percentage of the transaction.

Coinbase payment with Credit Card
Coinbase fees are subject to change depending on the region, payment type, and other factors. Coinbase charges a spread of around half a percent (0.50 percent). However, due to market variations in Bitcoin price on Coinbase Pro, the actual spread may be larger or smaller when you quote a price and the time the order executes.

See also: List of Cryptocurrency Exchanges with the Lowest Fees

 

Coinmama

Coinmama is a cryptocurrency exchange that trades in eight different digital assets and available in almost all countries. Coinmama has a $60 minimum purchase requirement and charges a 5.9% transaction cost, plus an additional 5% fee for credit card purchases.

If you want to buy Bitcoin instantly and efficiently using credit or debit cards, Coinmama can be a good choice. Since 2013, over 2,800,000 consumers in 190 countries have trusted Coinmama as the quickest and easiest way to purchase Bitcoin. Here are the steps to buy Bitcoin from Coinmama:

  1. Sign up and create a new account if you are a new Coinmama customer, then activate the account through the confirmation link;
  2. Before buying BTC using a credit or debit card, you must first validate your account. Uploading a picture of passport, national ID, or other similar papers is required. You can buy Bitcoin with a credit/debit card for up to $15,000 once you've been approved and cleared;
  3. Log in to the Coinmama account you created before, enter the chosen wallet address, complete the form, and instantly buy Bitcoin using a credit card.

Coinmama currently accepts Visa and Mastercard as payment methods. Please keep in mind that American Express, Discover, and PayPal are not accepted at the time of this writing. Please be aware that card payments include an extra processing cost.

Coinmama

You will receive the purchased Bitcoin within a few minutes after your account has been validated and a purchase has been made. Fyi, Coinmama has the highest purchasing limitations in the business.

 

Luno

Luno is one of the famous exchanges in Nigeria, Indonesia, Malaysia, and South Africa. Luno has an Instant Buy feature to make the customer able to purchase Bitcoin easily. With Instant Buy, you can buy a set amount of cryptocurrency or specify your amount without adding money to your local currency wallet first. Use the credit, debit card, or Google Pay to get cryptocurrency directly into the Luno wallet.

Luno exchange

Here are the steps to buy Bitcoin in Luno using a credit or debit card:

  1. Sign up for an account if you are a new user, and follow the steps to activate it;
  2. Select the cryptocurrency that you would like to purchase;
  3. Choose Buy option;
  4. Add a new card from the following menu and then enter credit or debit card details;
  5. Select Add Card;
  6. Enter the amount that you would like to purchase;
  7. Confirm the payment;
  8. Enter 2FA (two-factor authentication) if you already enable the option;
  9. Check out! Please wait for the cryptocurrency to arrive in your Luno wallet.

 

Conclusions

Take note that checking out the reviews, ratings, information on the rules and regulations of each platform is still an important step regardless of their provided payment methods. After all, an account of cryptocurrency exchange is where you store your funds to trade crypto coins. If something unexpected happens in the market, you will have more protection to minimize the risks than when you're registered under an unknown exchange.