Summary: To buy crypto using a prepaid card, you must first register with a third-party broker. Once signed up, you can deposit your desired fiat currency using your Mastercard or Visa with the help of PayPal. For those looking to buy cryptocurrencies with a prepaid card, we’ve found eToro to be a standout choice among multi-asset investment platforms.
Best Crypto Exchange for Intermediate Traders and Investors
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Invest in cryptocurrencies and 3,000+ other assets including stocks and precious metals.
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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.
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eToro USA is registered with FINRA for securities trading.
Can you buy crypto with a prepaid card?
You can buy crypto with prepaid cards at several exchanges, including eToro. While debit and credit cards are linked to a checking account, prepaid cards including gift cards aren’t and instead require you to load money onto the card first. In short, to buy Bitcoin with a prepaid card safely, cardholders can load it with cash, make their purchase, and add funds when it’s running low on money.
Disclaimer: Credit Cards and PayPal are not available for deposits for users under the FCA regulation.
How to buy crypto with a prepaid card?
If you want to buy Bitcoin (BTC) or other cryptocurrencies using a prepaid card or gift card, a reputable platform like eToro is an excellent choice. Widely recognized as a trusted multi-asset investment platform, eToro offers an array of over 70 cryptocurrencies, along with distinctive features like Copy Trading—allowing users to replicate the moves of high-performing crypto traders. Additionally, it provides a personalized watchlist, and comprehensive charting and technical analysis tools.
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How to buy crypto with a prepaid card: Step-by-Step
You can get started in minutes with five simple steps:
- Step 1: Create an account on eToro and complete your verification (personal or company);
- Step 2: Deposit money from your prepaid card (Mastercard (NYSE: MA), Visa (NYSE: V), AMEX (NYSE: AXP), Discover (NYSE: DFS)) to your PayPal (NASDAQ: PYPL) account;
- Step 3: Enter the cash amount you want to deposit on the eToro platform;
- Step 4: Connect your PayPal to deposit your selected fiat currency;
- Step 5: The final step is to find the cryptocurrency you want to purchase and execute your trade.
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.
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What is a prepaid card, and how does it work?
A prepaid card is a type of payment card that is preloaded with funds, this includes prepaid gift cards. It is similar to a debit card without being linked to a checking or savings account. Instead, the cardholder must load money onto the card before it can be used to make purchases or withdraw cash.
Prepaid cards are accepted nearly everywhere as debit or credit cards since major card networks (e.g. Mastercard or American Express) often back them.
Buy Bitcoin with a gift card
Visa and Mastercard support cryptocurrencies and blockchain, making it easy to buy Bitcoin with prepaid cards. While most crypto exchanges accept gift cards, some may not; in such cases, using third-party platforms like PayPal is a recommended alternative.
Prepaid card crypto policy
Prepaid cards like Mastercard allow buying and selling digital assets on licensed exchanges. Mastercard has its Bitcoin card, Bybit Card, supporting various cryptocurrencies in the UK and EU. However, if exchanges don’t accept prepaid cards, investors can use platforms like PayPal, Venmo, Skrill, Neteller, or Stripe for deposits.
How to buy crypto safely?
- Research: Understand the cryptocurrency and its risks;
- Use a safe device: Avoid public computers, use a personal computer with a VPN;
- Choose a reputable exchange: Check licenses, terms, and user reviews;
- Secure your account: Enable two-factor authentication and use a strong password;
- Use a secure wallet: Opt for a hot or cold wallet, following our guide on crypto wallets;
- Invest wisely: Only use money you can afford to lose, especially in the volatile market;
- Monitor investments: Stay updated on market changes for 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 a prepaid card
How to buy crypto with prepaid card online?
You can buy crypto with a prepaid card by depositing funds from your card into a licensed third-party crypto trading platform.
Can you buy crypto with prepaid card?
Yes, you can buy crypto with a prepaid card. Whether Mastercard, VISA, American Express, or Discover Card, prepaid cardholders can generally link their cards to a crypto exchange to buy digital assets. However, some brokers, such as eToro, will require you to link your account to a third-party payment platform like PayPal.
Where to buy crypto with prepaid card?
You can buy crypto with a prepaid card at various online brokers; however, not all exchanges will allow you to do so directly. Some crypto brokers will require you to transfer funds to a third-party payment platform like PayPal first.
is it safe to buy Bitcoin with prepaid card?
You can buy Bitcoin with a prepaid card (subject to your chosen crypto exchange) and it is perfectly safe to do so.
Can I buy crypto with a prepaid card without verification?
Yes, there are specific platforms and exchanges where you can buy crypto with a prepaid card, no verification required. However, it’s essential to ensure the legitimacy of these platforms and be cautious about potential scams.
I want to avoid KYC procedures. Is it possible to buy crypto with a prepaid card without KYC?
Indeed, there are platforms that allow you to buy crypto with a prepaid card, no KYC required. Keep in mind, though, that bypassing KYC might limit the amount you can purchase, and there’s always a risk of higher fees or potential fraud on less-regulated platforms.
Can I use a Visa gift card to buy Bitcoin without verification?
Yes, there are certain platforms where you can buy Bitcoin with a Visa gift card, no verification needed. However, always be cautious about the platform’s legitimacy and be wary of fees or potential hidden charges.
