How to buy Ethereum (ETH) with a credit card

Disclaimer: This page is not financial advice or an endorsement of digital assets, providers or services. Digital assets are volatile and risky, and past performance is no guarantee of future results. Potential regulations or policies can affect their availability and services provided. Talk with a financial professional before making a decision. Finder or the author may own cryptocurrency discussed on this page.

How to buy Ethereum with a credit card in 3 steps

Step 1: Create an account

Creating an account is the first step to buying (ETH) with a credit card. This typically requires you to sign up with an email and password. Most exchanges will require you to pass a Know Your Customer (KYC) process. Once you are signed up and have passed KYC, you are ready to use the exchange to buy Ether with a credit card. Read Finder's KYC Guide.

Step 2: Set up a wallet

Exchanges that allow you to buy Ether with a credit card usually come with a built-in wallet.

Any Ether you buy with a credit card will be deposited directly into your account wallet. If the exchange you're using has a built-in wallet, then you can continue to step 3.

However, some services will request an Ethereum address. If this is the case, then you will first need to set up a wallet to obtain an Ethereum address before buying ETH. Setting up a wallet is as easy as downloading an Ethereum wallet and following the steps to secure it. Once the wallet has been initialized, you can copy the Ethereum address and paste it into the service.

Step 3: Purchase with a credit card

The last step is to make the purchase of ETH with your credit card. You will need to input the full credit card number, the CVV code and the expiry date. Most service providers will also ask for billing details such as the billing address and postal code along with the cardholder's name. After you have entered the details of your credit card, you will be able to input the amount of ETH you would like to purchase. You can specify an amount of Ether to buy or the amount of USD to spend.

Buying Ethereum (ETH) with a credit card in the US

The majority of credit cards can be used to purchase Ethereum in the US. Some conditions apply.

Ethereum exchanges that support credit cards

Pros and cons of buying Ethereum with a credit card

Pros

• Purchasing Ether with a credit card is usually instantaneous and is deposited to your exchange account or wallet address within 10 minutes.
• You don't need cash on hand to buy Ethereum with a credit card.

Cons

• Credit card providers typically charge a cash advance fee when purchasing cryptocurrencies such as ETH.
• The exchange or service that you are buying Ether from typically applies a surcharge of between 1.5% and 5%.
• Ether purchases from a credit card can attract unwanted attention from the associated bank or credit card provider.

How to choose the right platform

Want to buy Ethereum with your credit card or debit card but don't know which broker or exchange to use? Remember to take the following factors into account when comparing the available options:

• Safety and security. Above all else, you want to be sure you're dealing with a trusted and secure provider. For more info, check out the "Is it safe to buy crypto with a credit card?" section.
• Cost. The convenience of buying crypto with a credit/debit card comes at a price, so take some time to compare the fees charged by different platforms before picking one.
• Supported currencies. Which cryptocurrencies does the platform allow you to buy using your credit card? Bitcoin and Ethereum are the 2 digital currencies that are most widely available, but some platforms will also allow you to buy a number of other coins.
• Supported cards. Does the platform accept all major credit cards or even debit cards?
• Transaction limits. What are the minimum and maximum amounts you can spend in any single transaction?
• Processing times. How long will it take for the crypto you purchased to arrive in your wallet or a deposit to arrive on the platform?
• Sell-side services. Does the exchange also allow you to sell your cryptocurrency or is it a buy-only service? If you can sell your crypto, it's worth checking what fiat withdrawal methods are supported and whether any fees apply.
• Customer support. Find out when the provider's customer support team is available and how you can get in contact with them. Also check the provider's reputation.

How much does it cost to buy Ethereum with a credit card?

While buying ETH with a credit or debit card is generally quick and easy, it can also be quite expensive. This is because there are several fees that can contribute to the cost of your transaction, not only from the crypto broker but also from your card issuer. These charges can include the following:

• Cash advance fee. Many card issuers treat a cryptocurrency purchase as a cash advance. This means your purchase will usually incur a cash advance fee and will also attract higher interest rates than normal purchases.
• Exchange/broker fee. The platform you use to buy Ether or another cryptocurrency will impose its own transaction fee. These tend to range from 4-6% but are higher in some cases.
• Credit card surcharge. You may also be asked to pay a credit card surcharge on top of any other fees and commissions being charged.
• Currency exchange fee. If you're using a US credit card on an overseas exchange, you might be paying credit card currency conversion rates. A 0% foreign fee credit card might be useful for cutting costs.

Is it safe to buy Ethereum with a credit card?

• Check it's secure. Make sure the platform's web address starts with https://, which means that all communications between your browser and the website are encrypted.
• Check what security features it offers. What other features does the platform offer to protect your funds? For example, does it support 2-factor authentication? Are client funds stored offline?
• Check where the exchange is based. Finding out where an exchange platform is based can give you a better idea of how it is regulated and whether there are any measures in place to protect you against fraud.
  • For example, Australian and Canadian digital currency exchanges must be registered and enrolled with AUSTRAC and FINTRAC, respectively.
• Read reviews. Check out independent user reviews and browse online forums to find out what sort of experiences other users have had with the platform. Did it deliver the service promised? Would they recommend it to friends and family?
• Check the exchange rate. Take a look at how the exchange rate you're getting compares to the current ETH/USD market rate. This will help you calculate just how much your transaction will cost.
• Check your interest rate. Most card issuers will classify a crypto purchase as a cash advance, which means higher-than-normal interest rates apply. Be aware of how interest accrues with your card.
• Know the risks of buying crypto. You've probably heard and read plenty about the volatility of Bitcoin and other cryptocurrencies, but don't assume that the coins you'll buy will increase in value enough to cover your purchase costs.

Frequently asked questions