Cryptocurrencies are the talk of every home in the world. Some are scared to invest, while others are trying to find ways to invest more and more. Recently, many people have questioned the power of credit cards to buy cryptocurrencies. Is it possible? Yes, of course, you can buy digital currencies with the support of your credit cards. But there are certain limitations and charges that you must know about before you raise your hopes high. 

Can you buy Crypto with your credit card?

Not all card issuers allow you to purchase cryptocurrencies from your credit card. It varies from company to company. And so, you should check with your specific card issuers whether the card would allow you to buy cryptocurrencies. Leading banks like Bank of America, Well Fargo, Chase, and others do not permit crypto purchases. However, there are few firms like SoFi, that have come up with exciting offers to ease out this process. 

Another thing that you must keep in mind while purchasing cryptocurrency from a platform is to check whether it accepts credit purchases. Only limited platforms allow customers to buy digital currencies with plastic money. Paxful and Coinmama are the leading currency exchange platforms allowing credit purchases. 

What type of credit cards are allowed for purchasing Crypto?

To purchase cryptocurrencies with a credit card, you need to have specific cards that allow such purchases. For now, you can only use a Visa or Mastercard to make a crypto purchase. However, accepting credit purchases on platforms is quite restricted. And therefore, it is best to check with your card issuer before you invest in a credit card. 

Why do companies restrict purchasing Crypto with credit cards?

Many leading U.S. credit card companies restrict cardholders from purchasing cryptocurrency with a credit card. Reports state that Citibank, for example, blocked cardholders from using credit cards to purchase Bitcoin and other cryptocurrencies in 2018 because they were scared of the potential threat and fraud it could cause. Some credit lenders even issue cash advance fees for customers who attempt to buy cryptocurrencies with their credit cards. 

Who would allow you to buy cryptocurrency with a credit card?

As mentioned earlier in the article, SoFi has become the number one leading company that allows you to buy cryptocurrencies with its credit card. The company also provides several benefits and bonus coupons you can redeem for other purchases. 

How To Get a Card?

You can apply for a bitcoin mastercard with just a few simple steps. You can save and spend the smart way without an annual fee attached and the ability to earn up to 3% cash back for your financial goals. Tread carefully as you consider using Crypto, and do your research before committing to which form of Crypto you wish to use.

So, without further ado, check out the exclusive offers offered by this trusted company and read their terms and conditions carefully to better understand the terms of purchase.