How to buy bitcoin on binance app with debit card

Video tutorial: Buy Crypto with Debit/Credit Card on Binance APP

1. Get started by selecting [Credit/Debit Card] from the home screen. Or access [Buy Crypto] from the [Trade/Fiat] tab.

2. First, choose the cryptocurrency you want to buy. You can type the cryptocurrency in the search bar or scroll through the list. You can also change the filter to see different ranks.

3. Fill out the amount you’d like to purchase. You can switch the fiat currency if you’d like to choose another. You can also enable the Recurring

Buy

function to schedule regular crypto purchases via cards.

4. Choose [Pay with Card] and tap on [Confirm]. If you have not linked a card previously, you will be asked to add a new card first.

5. Check that the amount you wish to spend is correct, and then tap [Confirm] at the bottom of the screen.

6. Congratulations, the transaction is complete. The purchased cryptocurrency has been deposited to your Binance Spot Wallet.

If you’re ready to take the next step and want to buy some bitcoin, take the next step with Binance!

Cryptocurrency prices are subject to high market risk and price volatility. You should only invest in products that you are familiar with and where you understand the associated risks. You should carefully consider your investment experience, financial situation, investment objectives and risk tolerance and consult an independent financial adviser prior to making any investment. This material should not be construed as financial advice. Past performance is not a reliable indicator of future performance. The value of your investment can go down as well as up, and you may not get back the amount you invested. You are solely responsible for your investment decisions. Binance is not responsible for any losses you may incur. For more information, please refer to our Terms of Use and Risk Warning

Welcome to the World’s #1 cryptocurrency platform by trading volume!

Trusted by millions of users worldwide. Get started today and buy Bitcoin, Ethereum, ChainLink, Rune, Cardano, Binance Coin, SHIB, and more, all with some of the lowest fees in crypto. Additionally, explore awesome art and collectibles on Binance NFT marketplace!

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Here’s what you can do on Binance App:

LOOKING TO BUY OR SELL BITCOIN AND OTHER CRYPTO? THAT’S WHAT WE SPECIALIZE IN

Shop Bitcoin, Ethereum, Bitcoin Cash, Litecoin, and more. Simply add a debit or credit card to buy and sell crypto instantly.

WANT TO BE ABLE TO TRADE MORE THAN JUST BITCOIN AND ETHEREUM?

Choose from 200+ supported cryptocurrencies, including Bitcoin, Ethereum, Link, Tezos, Cardano and Binance Coin while always being at the forefront of new coin launches.

IS IT SAFE?

Sad that this question still needs to be asked in the Bitcoin and crypto space, but we get it! At Binance, security is our highest priority when it comes to safeguarding your Bitcion and other cryptocurrencies. Your funds are protected by our Secure Asset Fund for Users (SAFU Funds) which means we have your back.

DID YOU KNOW YOU CAN EARN INTEREST ON YOUR BITCOIN & CRYPTO HOLDINGS? YOU CAN!

Earn money on your crypto and enjoy some of the highest interest rates on the market with Binance Savings & Staking. USD Stablecoin interest rates all over 5%. Can your traditional savings account beat that? No way.

WANT TO BE ALERTED WHEN PRICE MOVES ON CERTAIN COINS?

You can set price alerts with a single tap to stay up to date on the latest prices and trends.

ARE YOU A BEGINNER? WE GOT YOU. ARE YOU A PRO? WE HAVE A PLATFORM FOR THAT TOO.

New to crypto? Our Binance app’s mobile-first design lets you switch between Lite and Pro interfaces with a single tap. Keep it simple or access advanced trading features, all in one app.

LOOKING FOR RECURRING BUYS?

We’re making it easier than ever to buy crypto. Set a recurring buy to purchase Bitcoin and other crypto on a regular basis. You choose how much you want to buy and how often, and our Binance app does the rest!

LOOKING FOR A WAY TO SPEND YOUR CRYPTO? BINANCE CARD IS ROLLING OUT

Spend Bitcoin or BNB at over 50 million merchants worldwide when you sign up for the Binance Card. Available in select markets.

SEND AND RECEIVE CRYPTO INSTANTLY

Send and receive crypto from friends and family, to and from your Binance wallet with QR codes.

24/7 CUSTOMER SUPPORT

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Updated on

Dec 1, 2022

Finance

1. Log in to your Binance account and click [Buy Now] on the homepage banner.

2. You can choose to buy crypto with different fiat currencies. Enter the fiat amount you want to spend and the system will automatically display the amount of crypto you can get. Click [Continue].

3. You can choose your preferred payment method here. To buy with credit/debit card, click [Visa/Mastercard] [Continue].

4. Follow the instructions and enter your card information.

5. Your card will be added. Click [Continue].

6. Please check the payment details and fees and

confirm your order within 1 minute, or the amount of crypto you can get would be recalculated based on the current market price.

You can click [Refresh] to see the new order amount.

7. You will be redirected to your bank’s OTP Transaction Page. Follow the on-screen instructions to verify the payment. After that, you can see the purchased crypto in your Binance Spot Wallet instantly.

Welcome to Binance! The world’s #1 cryptocurrency exchange by trading volume.

Trusted by millions of users worldwide. Get started today and buy, sell and store Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Binance Coin, and more, all with some of the lowest fees in crypto.

We make it easy for everyone to get started, whether you’re buying Bitcoin for the first time or actively trading. Access all the features you love in one simple and easy to use app:

BUY AND SELL CRYPTO

Shop Bitcoin, Ethereum, Bitcoin Cash, Litecoin, and more. Simply add a debit or credit card to buy and sell crypto instantly.

WIDEST SELECTION OF SUPPORTED ASSETS

Choose from 150+ supported cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), Binance Coin (BNB), and more.

CLASS-LEADING SECURITY

Security is the highest priority for us when it comes to safeguarding your funds. Your funds are protected by our Secure Asset Fund for Users (SAFU Funds). Store your crypto safely with the Binance app.

EARN INTEREST ON CRYPTO

Earn money on your crypto and enjoy some of the highest interest rates on the market with Binance Savings & Staking.

INSTANT PRICE ALERTS

Discover more buying opportunities. Set price alerts with a single tap to stay up to date on the latest prices and trends.

EASY FOR BEGINNERS AND PROS

New to crypto? Our Binance app’s mobile-first design lets you switch between Lite and Pro interfaces with a single tap. Keep it simple or access advanced trading features, all in one app.

AUTOMATIC RECURRING BUYS

We’re making it easier than ever to buy crypto. Set a recurring buy to purchase Bitcoin and other crypto on a regular basis. You choose how much you want to buy and how often, and our Binance app does the rest!

PAY USING BITCOIN

Spend Bitcoin or BNB at over 50 million merchants worldwide when you sign up for the Binance Card. Available in select markets.

SEND AND RECEIVE CRYPTO INSTANTLY

Send and receive crypto from friends and family, to and from your Binance wallet with QR codes.

24/7 CUSTOMER SUPPORT

We’re always here to help, whether you’re a longtime user or just getting started. Access 24/7 live chat customer support in 8 languages (English, Chinese, Russian, Spanish, Portuguese, Turkish, Korean, and Vietnamese).

Disclaimer:

Trading cryptocurrencies involves significant risk and can result in the loss of your capital. You should not invest more than you can afford to lose and you should ensure that you fully understand the risks involved. Before trading, please take into consideration your level of experience, investment objectives, and seek independent financial advice if necessary. It is your responsibility to ascertain whether you are permitted to use the services of Binance based on the legal requirements in your country of residence. Investments in cryptoassets are not covered by the Financial Ombudsman Service or subject to protection under the Financial Services Compensation Scheme.

Main Takeaways

  • Credit cards are one of many ways to buy crypto with fiat currency.

  • While credit cards offer convenience and speed, they also come with unique risks. 

  • In this article, you’ll understand the pros, cons, and fees associated with using a credit card to purchase crypto. 

The answer is yes. Many users prefer credit cards for a variety of reasons. Here’s why you should consider using one to buy crypto.

Some users prefer wallets or bank transfers to buy crypto. These methods incur the lowest fees, but they can be slow for someone that likes convenience and speed. In this case, credit cards are the best option. At Binance, you can buy crypto with everyday fees using a VISA or Mastercard credit card. Alternatively, Binance also provides crypto purchases via bank transfer, fiat deposit, and e-wallet. 

If you’re interested in buying crypto with a credit card, check if your card issuer and payment network allow the transaction type. Credit card issuers that block crypto purchases have varying reasons. Capital One, for example, decided to decline cryptocurrency purchases to protect cardholders from fraud, losses, and market volatility. 

Note: To ensure your credit card is suitable, we recommend double-checking before initiating any crypto transaction with your credit card issuer.

What Are The Different Types of Credit Card Fees?

Credit card fees come in all shapes and sizes. Below, we’ve outlined the most common fees you might incur, depending on your situation. 

Transaction fees

Cryptocurrency exchanges charge a small fee for credit or debit card transactions. This is usually higher than other popular payment methods like bank transfers. At Binance, we charge one of the lowest fees of up to around 2%. Any additional fees will come from the bank and credit card provider’s side.

Cash advance fees

A cash advance is when you borrow cash directly from your credit card provider. You’ll pay 3-5% of the amount in fees. For instance, a $200 cash advance would incur $6-10 in fees.

Some credit-card crypto transactions are processed as cash advances. For instance, American Express charges crypto transactions as a cash advance. In this situation, you’ll either pay $5 or 10% of the transaction amount, whichever is greater. So, if you purchase $1,000 in cryptocurrency, you could be paying a $100 fee to your credit card issuer. 

Note: Credit cards provide a 20-day grace period to pay off purchases if you are timely with your monthly balance. Cash advances, however, accrue interest from day one.

If these fees don’t suit your preference, consider Binance. Since we only accept VISA and Mastercard credit cards, Binance users will never have to pay a cash advance fee.

Foreign transaction fee

Users who buy crypto with USD via a credit card on a platform based outside the US are likely to incur a foreign transaction fee. This scenario also applies to users whose credit cards are issued domestically but are buying crypto with other fiat-issued currencies. Foreign transaction fees are typically around 3% of the transaction amount. For example, if you purchased $1,000 in cryptocurrency, you would pay a $30 fee. 

Why Should I Buy Crypto With a Credit Card?

Now that you understand the fees associated with using a credit card, here are all the benefits of using one to buy crypto — which often outweigh the cons. 

1. Credit cards allow you to invest without having cash on hand. 

Every crypto user knows the market moves fast. A few days could be the difference between buying a coin at the bottom or, even worse, its peak. Perhaps your salary might arrive next week. You won’t need to worry if you have enough cash on hand with a credit card. Just pay your bills at the end of the month to avoid accruing interest from your credit card provider.

2. Fast and instant

The speed of credit cards makes it easy for first-time buyers or investors to purchase crypto with fiat currency. Credit card transactions are completed in a matter of seconds. 

Conversely, bank and wire transfers often take three to eight days. As a result, the cryptocurrency cannot be moved off the exchange until the transaction is complete. For investors who are looking to buy the dip in a bear market quickly, a credit card is an ideal choice with the instant speed it offers. 

3. Beginner-friendly

Credit cards are an ideal payment method for beginners who don’t want to wrestle with the confusing methods on more advanced crypto exchanges. For crypto beginners especially, checking out with a credit card is familiar. Simply enter your card number, expiry date, and CVV, and you’re all set. Plus, credit-card-friendly crypto exchanges and platforms are often very intuitive and user-friendly. 

4. Earn rewards via staking

“All the transaction fees accumulated will wash out rewards earned from credit card crypto purchases” — this is a common misconception and depends on how you use your crypto. Today, many crypto financial products such as staking provide attractive yields. For some, these products are a powerful passive income vehicle. For example, you can easily buy crypto with your credit card, then stake it on Binance Earn and earn up to 20% APY. 

What Are The Risks of Buying Crypto With a Credit Card?

Now that you know the benefits of using a credit card for crypto, you should also be aware of the potential risks associated with the process.

1. Your credit card information could be at risk

Today’s crypto landscape is saturated with exchanges touting their unique benefits. Some of these exchanges are legitimate businesses. However, many of these exchanges are scams looking to exploit newcomers or users eager to make a quick profit. While credit cards have strong fraud protection, every user should have the ability to identify and steer clear of a scam. At Binance, we recommend users always do their due diligence before making any crypto purchase.

2. Your credit score could be impacted

Credit utilization refers to the amount of credit you use. It’s also a significant factor in your credit score. The more credit you use, the higher your credit score. Too much credit, and you’ll damage your credit score. In the worst case, this damage piles up while you fall behind on your monthly credit card bills. To avoid this situation, we recommend users only buy what they can afford to lose. Newcomers especially should start with small amounts and consider using a dollar-cost averaging strategy via Recurring Buy. 

Note: Credit card providers and banks enforce a maximum limit on the amount of cryptocurrency you can purchase every day. Users who make bulk crypto purchases should check if they are within their daily limit. Otherwise, the credit card transaction will be declined. 

How do I Buy Crypto With a Credit Card?

Have you done all the research on your credit card provider? If so, here’s how you can start buying cryptocurrency on Binance with a credit card. 

  • Step 1: Log in to your Binance account and click [Buy Crypto], then [Credit/Debit Card].

  • Step 2: Choose your fiat currency and enter the fiat amount you would like to purchase. The system will automatically display the amount of crypto you can buy.

  • Step 3: Click [Add new card], then enter your credit card details. Please note that you can only pay with your own credit cards.

  • Step 4: Enter your billing address and click [Add Card].

  • Step 5: Double-check your payment details and confirm the order. 

  • Note: After one minute, Binance will recalculate the price and the amount of crypto you receive. You can click [Refresh] to see the latest market price.

  • Step 6: You will be redirected to your bank’s OTP Transaction Page. Follow the on-screen instructions to verify the payment.

Read our step-by-step guide to learn how you can easily buy crypto via credit card on Binance. 

If you want to dollar-cost average (DCA) your crypto portfolio or automate your crypto buys with a credit card, you can consider using Recurring Buy. It allows you to set a weekly, bi-weekly, or monthly plan and the coin and amount you want to purchase on a recurring basis. For more information, read How To Grow Your Crypto Portfolio with Recurring Buy.

Bottomline

A credit card is just one of many ways to buy crypto. Although credit cards incur higher transaction fees, they are simple, instant, and don’t require cash on hand. Users who prefer a more cost-effective approach can consider using a bank transfer. However, unlike credit cards, bank transfers often take days to process. Before you pick a suitable payment method, it’s crucial to educate yourself on the pros and cons of each one. 

Ready to start your crypto journey with Binance?

Sign up for a Binance accountor download the Binance crypto trading app. Next, verify your account today. Once your account is verified, there are three main ways to buy cryptocurrencies on Binance using fiat: you can buy crypto with fiat from Binance via bank transfer, card channels or e-wallets options.

Buy BUSD, BNB and cryptocurrencies with a Debit Card, Credit Card, or via Bank Transfer.

Linking your debit card, credit card, or bank account (available in many regions) is one of the easiest ways to buy Bitcoin and more than 200+ cryptocurrencies.  

Disclaimer: Cryptocurrency investment is subject to high market risk. Binance is not responsible for any of your trading losses. The opinions and statements made below should not be considered financial advice and are shown to illustrate an example. They are not intended to serve as investment advice or recommendation. 

Read the following articles for more information: 

Written by Jane