I'd like to buy bitcoins with a credit card or should I use my debit card?

4 Answers 4


Buying any crypto from your credit card is same as buying it through any other payment method. both are equally secure. But always buy it from authentic source only, there are many scamming sites running in the crypto world.


For the buyer, yes. For the seller, no.

Purchasing bitcoin with a card (either debit or credit) is no different than purchasing anything else online with a card. It's important that the merchant is reputable, and stores your information securely. If you are comfortable that this is the case, then you should be fine.

However, sellers have an additional risk when it comes to bitcoin. Credit and debit card transactions can be reversed, whereas bitcoin transactions cannot be. This means that if a "charge back" is issued after the bitcoin has been transferred to you, then you will get your money back and get to keep the bitcoin. This is the same as if a company ships a product and then the transaction is reversed. With physical goods this is much easier to track down, but with bitcoin it's harder. Physical goods must be delivered to a physical location, thus tying a fraudster to an identity. Bitcoin provides a level of anonymity that the authorities can't easily track.

Companies selling bitcoin that accept cards will generally wait until your transaction can no longer be reversed before sending you the coins. If a company doesn't do this, it might be a good indication that they are not reputable, and you should investigate them further.


It wont make a difference. All i can say is buy it from a reputable source if it is your first buy. Understand that a lot of volatility is expected in the coming few weeks.


{tl;dr - credit is usually safer for the consumer than debit (when using pin#), however you will have to go by whatever rules your chosen exchange enforces, depending upon your geographic region. Also, sometimes using credit card will require additional ID verification, again depending on site and region. }

Generally speaking, when using your bank-card, it is safer for the consumer (you) to run the transaction as "credit" (meaning you don't put your pin number in); the reason being: a) you do not risk compromising your pin #, in the case that the merchant processing the transaction is either fraudulent, or has compromised systems b) if there is an issue with the transaction (over-charged, or you don't receive what you were expecting) then the card company will likely be able to reverse, or 'charge-back' the transaction, and you will not be held liable, or charged for it (given that the problem with the transaction actually falls on the merchant). With most card companies and banks, when you enter your pin number, for a debit transaction, YOU assume all responsibility for the transaction. This, coupled with the added risk of exposure of your pin number in the event of a data-breach involving the merchant, generally makes debit-card transactions a little more risky. That being said, the aforementioned examples mainly apply to everyday type of financial transactions; so if you are paying for gas, and the cashier asks, credit or debit? Credit should be your answer if you are looking for added security. This decision is not always so cut and dry when it comes to purchasing crypto-currencies; mainly because you don't always have the option of purchasing coins with a bank card of your choosing. Depending on the financial regulations in your country, state or region, some exchanges will only offer you certain ways to transact from fiat-currency (euro, usd, etc) to crypto-coin. So, depending on your location, you may actually have to link your bank account, instead of using your bank-card (which would avoid possible compromise of your pin#), but would involve other inherent risks. These same exchanges will also likely offer an option to only link a credit-card, or even your pay-pal account. I guess it really comes down to the following: what are you purchasing bitcoin for? Are you just purchasing once to see what the new buzz is all about? (i.e. a new way to pay for stuff), or are looking to dive a little deeper, and take part in an exchange -buying and selling crypto-currencies in the interest of speculation- with hopes to make a profit -or just have fun learning of course!.. If you are just purchasing once to check it out, you can try any number of the peer-to-peer exchanges, some will accept credit cards (expect to pay a premium for this however). If using a peer-to-peer exchange however, you should realize that you are transacting with another person, only using the exchange's network for facilitation, but keep that in mind, b/c if you go the p2p route, I would never recommend using a debit card. If you are looking for a more long-term approach, then you should use one of the larger crypto-exchanges, and in doing so, you will be bound by there regulations, which will vary depending upon geographic region. I hope that answered your question, without thoroughly confusing you any further...

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