How to Buy Crypto with Discover Card [2024]

Summary: If you want to buy crypto with Discover Card, we recommend linking it to a trusted multi-asset investment platform. After testing over ten popular trading platforms, we concluded eToro to be the best choice for Discover customers, as it offers low trading fees as well as a wide selection of digital asset.

Best Crypto Exchange for Intermediate Traders and Investors

• Invest in cryptocurrencies and 3,000+ other assets including stocks and precious metals.

• 0% commission on stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.

• Copy top-performing traders in real time, automatically.

• eToro USA is registered with FINRA for securities trading.

30+ million Users

Get Started

Securities trading offered by eToro USA Securities, Inc. (“the BD”), member of FINRA and SIPC. Cryptocurrency offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Finbold.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD

Can you buy crypto with a Discover card? 

Discover does not offer cryptocurrencies directly on its own platform. Instead, customers can link their Discover banking accounts to a cryptocurrency broker to buy digital assets such as Bitcoin (BTC) and Ethereum (ETH). 

How to buy crypto with a Discover card?

The best way to buy crypto with Discover in the US is through a broker like eToro, which is a widely trusted multi-asset investing platform with over 80 cryptocurrencies and unique features such as “Copy Trading,” which enables users to copy top-performing crypto traders, in addition to a custom watchlist, as well as advanced charts and technical analysis tools.

How to buy crypto with Discover card: Step-by-Step

You can get started in minutes with four simple steps:

• Step 1: Create an account on eToro and complete your verification (personal or company);
• Step 2: Enter the USD amount you want to deposit on the eToro platform;
• Step 3: Connect your Discover account to deposit your selected fiat currency;
• Step 4: The final step is to find the cryptocurrency you want to purchase and execute your trade.

Disclaimer: Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Finbold is not an affiliate and may be compensated if you access certain products or services offered by the MSB.

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

Best Crypto Exchange for Intermediate Traders and Investors

• Invest in cryptocurrencies and 3,000+ other assets including stocks and precious metals.

• 0% commission on stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.

• Copy top-performing traders in real time, automatically.

• eToro USA is registered with FINRA for securities trading.

30+ million Users

Get Started

Securities trading offered by eToro USA Securities, Inc. (“the BD”), member of FINRA and SIPC. Cryptocurrency offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Finbold.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD

About Discover Bank

Discover Bank is an American digital-only bank headquartered in Riverwoods, Illinois. As a Discover Financial Services subsidiary, it’s best known for its rewards credit cards. However, they also offer traditional banking, retirement, and lending solutions. As a strictly online bank, Discover doesn’t have physical branches that customers can visit in person for their banking needs. That said, Discover is known for its first-rate customer service, available 24 hours a day.

Discover Bank crypto policy

Discover hasn’t made any official announcements regarding its crypto rules and regulations, nor does its online help center offer guidance about the usage and acceptance of digital currencies.

However, they have repeatedly responded to customers’ inquiries on Twitter regarding crypto payments. For example, as of July 2022, the Discover Card Twitter account responded to a customers’ inquiry regarding cryptocurrency as a payment source as follows:

Who accepts Discover Card?

While the acceptance of Discover cards as a deposit method varies by platform and country, there are exceptions where they are indeed accepted. A notable example is eToro (all information can be found here), where you can use your Discover credit card to transfer funds. However, it’s always advisable to check directly with the exchange or broker, as their policies on card acceptance, including Discover cards, might differ.

How to buy crypto safely

As a relatively new asset class, crypto is expectedly more volatile than, say, stocks or bonds. In addition, as a less vigorously regulated financial device, cryptocurrencies seem to be particularly susceptible to fraud, such as pump-and-dump scams, putting both inexperienced and seasoned investors at risk. 

To navigate this landscape safely, consider these key steps:

• Research thoroughly: Understand the cryptocurrency, its workings, and associated risks;
• Use a secure device: Employ a personal computer with a VPN for enhanced security, avoiding public computers and Wi-Fi;
• Select a reputable exchange: Choose an exchange regulated in your country with a good reputation. Review its terms and user feedback for extra assurance;
• Fortify your account: Implement two-factor authentication and robust passwords;
• Choose the right wallet: Secure your crypto in a suitable crypto wallet, be it hot (online) or cold (offline);
• Invest wisely: Only invest what you can afford to lose, given the market’s volatility;
• Monitor your investments: Stay informed about market trends and the performance of your chosen cryptocurrency.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk. 

FAQs about how to buy crypto with Discover: 

Best Crypto Exchange for Intermediate Traders and Investors

• Invest in cryptocurrencies and 3,000+ other assets including stocks and precious metals.

• 0% commission on stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.

• Copy top-performing traders in real time, automatically.

• eToro USA is registered with FINRA for securities trading.

30+ million Users

Get Started

Securities trading offered by eToro USA Securities, Inc. (“the BD”), member of FINRA and SIPC. Cryptocurrency offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Finbold.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD