Buying Crypto with a Credit Card: A Reddit Consensus

The Reddit community has extensively discussed the topic of buying cryptocurrency with a credit card. While it is possible to do so, the majority consensus is that this method is not cost-effective due to high exchange fees, cash advance charges, and immediate interest.

Most major exchanges, including Bitget, Coinbase, and Crypto.com, accept credit cards for crypto purchases. However, this approach comes with a total cost of 5-11% when factoring in exchange fees (2-5%), cash advance fees (3-5%), and immediate interest (18-30% APR).

Reddit recommends depositing funds via bank transfer and buying on spot at 0.1% fees, which is significantly cheaper than using a credit card.