Which Cryptocurrencies Can You Buy Directly With a Credit Card?
Summary: Want to buy crypto with a credit card, but unsure whether you’re limited to just Bitcoin and Ethereum? Let’s dig into what’s actually possible in 2024—complete with personal experience, screenshots, some real-world regulatory headaches, and a few traps you don’t want to fall into.
The Problem—Can You Buy Altcoins, Or Just BTC/ETH?
Plenty of friends have asked: “If I want to use my credit card, am I stuck with the big boys like Bitcoin and Ethereum—or can I grab smaller coins like Solana, Dogecoin, or maybe that weird altcoin I’ve been tracking on CoinMarketCap?” Plus, what’s the deal with credit cards? Is it risky, expensive, or maybe both?
To answer this, I went hands-on with several major exchanges, talked to crypto industry experts, checked some regulations (including the US, EU, and a few Asia-Pacific markets), and naturally made a few mistakes along the way. Here’s my actual journey—and the surprises I ran into.
Short answer: You CAN buy a surprisingly wide range of cryptocurrencies with a credit card, but there are big differences based on where you live, the platform you use, and even the specific card you have. And yes, you’ll run into weird limits and extra identity checks. Let’s jump in.
Step 1: Picking the Right Platform—Not All Are Created Equal
There’s Coinbase, Binance, Bitget, Bybit, MoonPay, and literally dozens more. My first try—super casual—was with Binance (because let’s face it, their interface feels like a turbocharged banking app). They actually do let you buy crypto with a credit card (see their guide), but here’s what nobody told me: their available coins depend a lot on your country.
[Screenshot: Binance lets users buy USDT, BTC, ETH, BNB, SOL, XRP and more via credit card. Selection varies by region and verification level.]
Direct Credit Card Purchase Options (June 2024):
As of this writing, I pulled up the “Buy Crypto” screens at the following platforms. Here’s what I was actually able to purchase directly with a regular Visa:
- Coinbase: Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Litecoin (LTC), USDC, sometimes Avalanche (AVAX), and more. They keep adding coins, but try using Mastercard—they’ll occasionally restrict non-USD stablecoins.
- Binance: Over a dozen including BTC, ETH, BNB, USDT, DOGE, ADA, XRP, and more. But it asked for ID/passport once I went beyond ~$500 USD. (Official support.)
- Bitget/Bybit: Both advertise 100+ buyable cryptos via card, but in practice, many are routed via stablecoins—so “Buy SHIB with card” = Buy USDT first, then use USDT to buy SHIB.
- MoonPay/Simplex (Aggregators): Offer 50-80+ coins, including more obscure tokens like MATIC, DOT, or meme coins. These are often embedded inside wallets (like TrustWallet or Exodus), and fees are higher.
In summary: Yes, you can buy altcoins directly, but the most liquid, biggest coins are always easiest, have lower fees, and raise fewer regulatory flags. Sometimes, for anything beyond a top-10 coin, the “credit card buy” is really a two-step operation under the hood. (Buy USDT/USDC with card; swap to your altcoin.)
Step 2: Completing the Credit Card Purchase—Oops, Here’s a Real-World Example
Quick story—on my first try with Coinbase a few years ago, I attempted to buy Cardano (ADA) with my everyday Capital One Visa. Immediate fail. Turns out, some US banks block crypto purchases outright (the infamous list includes Citi, Chase, and Discover as of 2024). Source: CNBC: Which banks block Bitcoin purchases.
So, after a false start, I switched to my Revolut card (a fintech that seems “crypto-friendly” in the UK/EU). Success! Screen asked for an extra ID selfie (seriously annoying at 1 a.m.), then I was given the choice: ETH, USDT, LTC, SOL. Still, the “Buy ADA Direct” button was missing. Why? In the UK, direct ADA purchases with card are banned due to local compliance. I had to buy USDT, then convert.
Screenshot proof from a friend’s recent transaction (June 2024, France):
[Screenshot: MoonPay lets direct card purchase of coins incl. SOL, MATIC, AAVE, DOGE, ADA, and more—availability varies by geo]
Common Issues During Credit Card Crypto Purchases
- Not all cards work—some banks block crypto outright or treat as “cash advance” (with bigger fees).
- Most platforms require full identity verification for credit card buys—passport, ID, selfie, maybe even proof of funds. This is due to FATF and KYC/AML rules.
- Fees can be high (2–5%), especially via aggregators like MoonPay, Simplex, or Mercuryo.
- Some altcoins will only be available via an intermediate step (buy stablecoin, then swap), not 1-click direct.
Why the Variability? Regulatory Differences by Country
OK, here comes the nitty-gritty nobody enjoys. Buying crypto by credit card is tangled up in a web of national rules, card provider opinions, and even “gray list” bank policies.
For example, the European Union officially applies its AMLD (Anti-Money Laundering Directive) to crypto, requiring identity checks and sometimes restricting certain coins. In the US, the FinCEN MSB Guidance is pivotal—crypto platforms have to register as Money Service Businesses and comply with strict KYC.
Case in point: In Japan, the FSA lists exactly which coins can be listed and which payment methods are legal. Buying DOGE with a credit card there? Forget it.
Country-by-country differences (“Verified Trade” standards)
| Country/Region | Standard Name | Legal Basis | Enforcing Body | Direct Card Crypto Buy? |
|---|---|---|---|---|
| USA | MSB (Money Service Business) Compliance | FinCEN Guidance | FinCEN | Yes, but limited by bank/card |
| EU | AMLD 4/5/6 & MiCA | AMLD / MiCA | National FSAs/Oversight Bodies | Yes, but stricter KYC |
| Japan | Crypto Asset Exchange Act | FSA Guidance | FSA | Highly restricted |
| Australia | AUSTRAC Digital Currency Exchange Regs | AUSTRAC Guidance | AUSTRAC | Most major coins, some restrictions |
Case Study: France vs. US on Crypto “Verified Trade” Flows
Last year, a friend living in Paris tried to buy MATIC (Polygon) and DOGE using his Visa card via Kraken—not possible. Kraken’s French arm hadn’t secured a full crypto service provider license yet, so only the “top four” coins (BTC, ETH, USDT, USDC) were permitted for card purchases. In contrast, on Coinbase US, I could buy the same coins via my debit/mastercard (after a bunch of KYC nonsense), but—odd twist—US banks treat these transactions differently. “Sometimes it’s ok, but sometimes you get flagged for ‘cash equivalent’ and your bank suspends the card,” says Jackson Tse, payments risk analyst at a New York fintech.
Side note: in the US, rules literally differ by state. Wyoming allows more, New York (BitLicense hell) much less. This is why, if you’re traveling and trying to buy crypto, even VPNs can’t always magic away restrictions.
A Peek Behind the Curtain: What’s Really Happening When You “Buy an Altcoin” With a Card?
Huge “gotcha”: On nearly all the big platforms, even when you see 40+ coins available, most route your credit card buy through a stablecoin, then auto-convert it. That means extra swap fees, more risk of slippage, and—sometimes—speed bumps if the exchange is busy.
In my personal experience, MoonPay’s flow is the noob-friendliest, showing a huge menu of coins with actual USD/EUR options. But double-check: after you approve your card, you sometimes get a message like “your coin will arrive soon, after internal swap,” and THEN you see your balance as USDT, followed by the altcoin. It’s not always instant.
Expert Quote
“Direct card purchases of new altcoins are still rare. Most platforms work by selling you a stablecoin, which they then convert to your chosen token. This is partly a regulatory workaround and partly a risk management tactic. Always read the small print!” – Sandra Lee, Regulatory Counsel, CoinPayments.eu (2024 fintech Q&A webinar)
So, Can You Buy Altcoins With a Credit Card? Final Thoughts, Warnings, and Next Steps
From several weeks of poking around, screencapping, and cursing at random failed payment attempts: it’s clear that yes, you can buy way more than just Bitcoin and Ethereum with a credit card these days. Solana, Cardano, Dogecoin, Avalanche—they’re all available directly on multiple platforms, at least in many major western markets. But, expect to hit invisible walls in certain countries, and sometimes even for specific cards.
Tips from my own chaotic attempts:
- Double-check your platform’s “Buy” screen in your own region—use incognito to see unfiltered choices if you’re not logged in.
- Be ready for strange verification requests, or blocked cards—sometimes you need to call your bank to “approve” the payment.
- Look out for the “actually buys USDT for you” trick—this isn’t bad, but does add a little cost. Read the order summary.
- Stay updated: platforms change available coins (and card partners) quickly, especially when regulators issue new edicts.
Oh, and one more thing—don’t buy meme coins with borrowed money, obviously. That never ends well.
Next Steps? If your goal is to buy something more obscure with a card, try an aggregator like MoonPay (via a wallet app), but expect extra fees. If you want lowest cost and widest choice, fund via bank transfer and then buy inside the exchange.
For more info, check actual exchange guides (Coinbase Help or Binance Help), or look up your country’s trading rules on official finance ministry sites.
Author background: 5+ years using and reviewing crypto exchanges, with real KYC scars to prove it; sources include regulatory agency bulletins and live chat with platform staff.