Crypto Exchange with the smallest credit card fee

exstasie

legendary

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OP, are you aware that using a credit card will probably trigger cash advance fees on your bank's side? It usually amounts to 3-5% of the amount borrowed, on top of the fees charged by exchanges. Shocked

Quote from: BitMaxz on December 27, 2019, 04:59:29 PM

If you are going to deposit a big amount from credit card I suggest you go directly to Binance exchange because the depositing fee is fixed to $10 but if you are going to deposit a small amount they also asking for 3.5% fee so I suggest you use binance only if you are going to deposit a big amount to pay the fee with $10 fixed.

Other exchanges don't have a fixed fee they always ask for a 4%+ fee every deposit unlike binance that you can only pay $10 USD fixed you read their article from here https://www.binance.com/en/support/articles/360022498052

I think you're misinterpreting this. Binance's fee is 3.5% per transaction or 10 USD, whichever is higher. If you buy $250 worth, you pay a $10 fee. If you buy $1,000 worth, you pay a $35 fee.

This is the standard fee charged by exchanges who use Simplex to process credit cards. Poloniex and Kucoin offer the same fees.

Amel

legendary

Activity: 1638

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There are many crypto exchange services available here, but for me it is not part of who is the cheapest but the most important thing is who is the most trusted among them. I myself prioritize security in trading, it all can not be separated from the many cases of hacking and fraud in crypto exchange so I prefer the top exchanges such as binance. For the rest, please check here https://www.finder.com/cryptocurrency-exchange-fees

justdimin

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www.Crypto.Games: Multiple coins, multiple games

Quote from: Paulinerims on December 27, 2019, 11:47:41 AM

If I would like to buy btc on a credible exchange with my credit card (visa, mastercard..), which one would you suggest? so many different fees that is hard to calculate everything. Is there any stats which one would be the best option?

It also depends on where you are from, you can't use credit card to buy from any website you want depending on your nation. If you are american, best place to deal with is definitely coinbase, if you are from Europe bitpanda helps out best, if you are in Asia there are now Singapore based binance operations that started recently.

It all depends on where you are from, surely there must be some local exchanges (doesn't have to be too local but at least close) that could help you out but when it comes to credit card purchasing of bitcoin I would say being able to use it is more important than the fee involved with it. You are already buying bitcoin with money you don't have (credit card) instead of using money you have on your debit or bank account, so the fee shouldn't be much of a problem.

panganib999

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Quote from: Sterbens on December 28, 2019, 11:16:36 AM

Binance also accepts purchases of bitcoin through a credit card and your visa can try there, it might be easier for you because Binance always offers the best.
There are some suggestions from others just choose which one is more comfortable to use, if you think I like Binance.

Binance has way higher fees compared to other exchanges when buying BTC through credit card. Iirc, Binance asks for 5% while other exchanges ask for around 3 - 4%, like Coinbase, and they're pretty much at the same level with Binance in terms of trust and security, so I'd choose Coinbase in any other day. Though, I'd actually advise on using credit card? I mean, if you have the choice anyway. If your comfortable with it, then feel free to do so and ignore my opinion.

Sterbens

sr. member

Activity: 1848

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Duelbits.com

Binance also accepts purchases of bitcoin through a credit card and your visa can try there, it might be easier for you because Binance always offers the best.
There are some suggestions from others just choose which one is more comfortable to use, if you think I like Binance.

Kemarit

legendary

Activity: 3080

Merit: 1353

Maybe you can look at this thread, Reviews: How to buy Bitcoin for low price and few fees with card or paypal. It's an old thread but at least you verify everything before you do the purchase.

gentlemand

legendary

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Merit: 3008

Welt Am Draht

Quote from: Wexnident on December 28, 2019, 10:17:30 AM

Well, he did say credit card though.

They always say credit card and when they eventually go into more detail half the time it turns out to be a debit card.

In the UK at least and plenty of the US most banks won't let people make any crypto purchases with credit cards any more. OP had better check that too.

Wexnident

hero member

Activity: 2506

Merit: 628

I don't take loans, ask for sig if I ever do.

I'd try around coinbase or localbitcoins. They're pretty much the only ones I use when I load up using credit card every now and then. Though they are KYC, since you originally wanted a credible and secure purchase, then I suggest using either of the two. Though I don't recommend it much because they generally have higher fees compared to other modes of payment in buying crypto.

Quote from: gentlemand on December 28, 2019, 09:29:35 AM

OP should specifically confirm whether it's a credit card or a debit card as it's often treated as an interchangeable term here.

A credit card carries extra risk and will incur extra expense. Quite a few places will accept debit card transactions but won't service credit card ones.

Well, he did say credit card though.

gentlemand

legendary

Activity: 2590

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Welt Am Draht

OP should specifically confirm whether it's a credit card or a debit card as it's often treated as an interchangeable term here.

A credit card carries extra risk and will incur extra expense. Quite a few places will accept debit card transactions but won't service credit card ones.

OmegaStarScream

staff

Activity: 3472

Merit: 6129

Quote from: ReiMomo on December 27, 2019, 12:48:43 PM

That is a good reference. I may recommend using Paxful or Localbitcoin.com because they are more reliable as of now in buying bitcoin online and bypass the KYC that centralized exchange has. Just a quick question, where you are located? Is there any bitcoin ATM there? You can use them through debit cards or cash.

Localbitcoins has KYC enforced, and the same thing with Paxful if you exceed 1500$ in trading volume. LocalCryptos would be the best alternative here.

Aveatrex

sr. member

Activity: 840

Merit: 375

Quote from: 1Referee on December 27, 2019, 06:12:12 PM

Quote from: BitMaxz on December 27, 2019, 04:59:29 PM

unlike binance that you can only pay $10 USD fixed you read their article from here https://www.binance.com/en/support/articles/360022498052

$10 fixed fee still means that the fee itself is outrageously high compared to the amount you buy. For example, you buy $50 worth of Bitcoin but have to pay $60 including fees. It means that your fee is 20% which is insane. For those who only can afford to buy small amounts once every week or month, they will overpay significantly every single time they pay a $10 fee.

I get that they want to make money and are dealing with a base fee from the financial institution they work with, but that's not fair for people with a small wallet. Undecided

That's why BitMaxz said "only if you are depositing a big amount",if OP deposits only 50$ then the fee is surely outrageous BUT let's say he wants to deposit 1000$ he only have to pay 1010$ whch implies that the fee rate is only 1% compared to other exchanges where it is 3%+ for the same amount. Conclusion:the fixed fee rate is only beneficial if you are dealing with big amounts of money.For people who only can afford to buy small amounts they better be using another service like LocalBitcoins.com

Strongkored

legendary

Activity: 2772

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Leading Crypto Sports Betting & Casino Platform

Buy Bitcoin with credit card should bought a large amount this is the fact, if not you only waste more money to pay the fee if buy in small amount like what @1Referee said.
Exchange fee rate for using credit card between 2-5%.
https://www.bitpremier.com/buy-bitcoins

tungaqhd

hero member

Activity: 1540

Merit: 508

Quote from: Paulinerims on December 27, 2019, 11:47:41 AM

If I would like to buy btc on a credible exchange with my credit card (visa, mastercard..), which one would you suggest? so many different fees that is hard to calculate everything. Is there any stats which one would be the best option?

If you want to buy small amount then Coinbase is a good option. The fee is as low as 3.99% but there is a buying limitation. You will need to verify your identity before making a order.

tenakha

hero member

Activity: 1470

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Quote from: Paulinerims on December 27, 2019, 11:47:41 AM

If I would like to buy btc on a credible exchange with my credit card (visa, mastercard..), which one would you suggest? so many different fees that is hard to calculate everything. Is there any stats which one would be the best option?

This link contains information on how much you will pay when you buy crypto from exchanges: https://www.coinparator.com/compare-exchanges/ Obviously, there are some differences in interest rates, but not much.

1Referee

legendary

Activity: 2170

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Quote from: BitMaxz on December 27, 2019, 04:59:29 PM

unlike binance that you can only pay $10 USD fixed you read their article from here https://www.binance.com/en/support/articles/360022498052

$10 fixed fee still means that the fee itself is outrageously high compared to the amount you buy. For example, you buy $50 worth of Bitcoin but have to pay $60 including fees. It means that your fee is 20% which is insane. For those who only can afford to buy small amounts once every week or month, they will overpay significantly every single time they pay a $10 fee.

I get that they want to make money and are dealing with a base fee from the financial institution they work with, but that's not fair for people with a small wallet. Undecided

BitMaxz

legendary

Activity: 3248

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Block halving is coming.

If you are going to deposit a big amount from credit card I suggest you go directly to Binance exchange because the depositing fee is fixed to $10 but if you are going to deposit a small amount they also asking for 3.5% fee so I suggest you use binance only if you are going to deposit a big amount to pay the fee with $10 fixed.

Other exchanges don't have a fixed fee they always ask for a 4%+ fee every deposit unlike binance that you can only pay $10 USD fixed you read their article from here https://www.binance.com/en/support/articles/360022498052

Be careful with other exchanges that offer free or lowest depositing fees.

Findingnemo

hero member

Activity: 2310

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Bitcoin = Financial freedom

Biptpanda seems to have low fee for credit card purchases compared to other exchange but the fee will vary depends on your card.binance also supports credit card purchase I will suggest you thins if you want to buy bitcoin on your credit card without any issues.

ReiMomo

sr. member

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Duelbits - $100k Bonus/week

Quote from: rijaljun on December 27, 2019, 12:34:39 PM

Quote from: Paulinerims on December 27, 2019, 11:47:41 AM

If I would like to buy btc on a credible exchange with my credit card (visa, mastercard..), which one would you suggest? so many different fees that is hard to calculate everything. Is there any stats which one would be the best option?

Uhuh.. there are few exchanges that provides credit/debit card options to buy Bitcoin. I gotta put this for you, I hope this can help you a bit https://www.buybitcoinworldwide.com/credit-debit-card/

That is a good reference. I may recommend using Paxful or Localbitcoin.com because they are more reliable as of now in buying bitcoin online and bypass the KYC that centralized exchange has. Just a quick question, where you are located? Is there any bitcoin ATM there? You can use them through debit cards or cash.

rijaljun

sr. member

Activity: 1274

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Quote from: Paulinerims on December 27, 2019, 11:47:41 AM

If I would like to buy btc on a credible exchange with my credit card (visa, mastercard..), which one would you suggest? so many different fees that is hard to calculate everything. Is there any stats which one would be the best option?

Uhuh.. there are few exchanges that provides credit/debit card options to buy Bitcoin. I gotta put this for you, I hope this can help you a bit https://www.buybitcoinworldwide.com/credit-debit-card/

Paulinerims

jr. member

Activity: 193

Merit: 7

If I would like to buy btc on a credible exchange with my credit card (visa, mastercard..), which one would you suggest? so many different fees that is hard to calculate everything. Is there any stats which one would be the best option?

Topic: Crypto Exchange with the smallest credit card fee (Read 160 times)