how can I buy crypto with a credit card?

how can I buy crypto with a credit card? If you want to buy Bitcoin Ethereum or any other cryptocurrency through a credit card then it is possible but it is difficult and also unfair.

• Buying cryptocurrency with a credit card can cost you a lot because buying and selling is a cash advance.

• Buying cryptocurrency with a credit card is possible only if the credit card issuer and your crypto exchange allow it. If this is not allowed, cryptocurrency cannot be bought on a credit card.

You can use a credit card to buy Bitcoin, Ethereum, or other cryptocurrencies. It is possible, but if you don’t know that your credit card issuer and your crypto exchange won’t accept it, you’ll buy the currency at the time, but you won’t be able to sell it. This can be a problem, so you should make sure that your credit card issuer and your crypto exchange accept the purchase of cryptocurrency with a credit card.

Most major credit card issuers ban the purchase of cryptocurrency and if a person does not follow this rule, the credit card issuer can impose a variety of penalties on that person.

If you want to buy cryptocurrency with a credit card, you can buy from Coin Mama and CEX.io, but they only accept Visa and Mastercard payments.

So in order to buy cryptocurrency with a credit card, you need a credit card issuer and a cryptocurrency exchange that implements it.

crypto exchange fees

For example, as I told you on Coinmama you can buy cryptocurrency by credit card but Coinmama charges you if payment is done by credit card it charges an extra 5%. Charges $5 on purchases of $100. And you will need more interest to recover it.

But while buying cryptocurrency with a credit card, pay attention to its fees as well, maybe you will change your mind after seeing the fees and buy it from your bank or any other exchange platform.

Penalties From The Card Issuer

Your credit card issuer may treat cryptocurrency purchases as cash advances if your credit card issuer does not recognize cryptocurrency purchases and may charge taxes as a result.

• Cash advance fee. When you take your advance, here you are charged an additional fee, usually, this fee is 3 to 5 percent, for example, if you take an advance of $ 100, then you will have to pay an additional fee of 3 to $ 5.
• Lower credit limit. Each credit card and each credit card issuer has a different cash advance limit, some are lower and some are higher.
• Higher interest rate. There are cards that charge a higher interest or annual rate than regular advance purchases.
• No grace period. It gives you a grace period of 21 days if you make monthly payments on your credit card in advance
• No credit card rewards. If your credit card issuer considers the purchase of cryptocurrency as equivalent, it will not count towards your signup bonus and you will not receive any reward for it.

Let me tell you once more that whether your credit card issuer accepts cash advance or not, make sure that you contact the helpline number on the back of that card.

How else can I buy cryptocurrency?

Once again I tell you that many major credit cards charge and major cryptocurrency exchanges do not allow this.

The best way to buy cryptocurrency is to buy currency through your bank account in US Dollars or Indian Rupees etc. and you can buy it from any cryptocurrency exchange, just first you have to link your bank account to a cryptocurrency exchange. Have to and you can also buy it through P2P here is p2p person to person

How To Buy Crypto With Credit Card

1. If you have made up your mind to buy cryptocurrency with a credit card, the first thing you need to know is whether the credit card issuer allows it or not and how much it charges. (you can read about it above)
2. you can find out which cryptocurrency exchange accepts credit card payments.
3. Once you know which credit card issuer and which cryptocurrency exchange allows it, you can buy cryptocurrency by linking your credit card to your cryptocurrency exchange.

Pros Of Using a Credit Card To Buy Cryptocurrency

• You can get some bonus points on this if your disdain applies to it.
• You can buy cryptocurrency without cash.

Cons Of Using a Credit Card To Buy Cryptocurrency

• Recovery for a longer period.
• getting cryptocurrency at a higher rate at the higher rate.
• Lower CIBIL score for non-payment of credit card bill.
• additional tax if a bill is not paid on time.

Cryptocurrency as a credit card reward

Some credit cards accept cryptocurrency purchases and offer rewards on purchases

• Brex Card
• Venmo Credit Card
• Gemini Credit Card
• Unifimoney Visa Credit Card
• Upgrade Bitcoin Rewards Visa® Credit Card