How to Buy Bitcoin with American Express Cards

To buy Bitcoin with an American Express card, find a third-party cryptocurrency exchange such as Paxful or LocalBitcoins that accepts Amex cards and open an account. Just bear in mind that the process and cost of buying Bitcoin with an American Express card varies, depending on the exchange platform you choose. The Paxful and LocalBitcoins fees for credit card transactions are 1%, for example, whereas exchanges like Coinmama charge up to 5%.

Bitcoin purchases: How American Express compares with other issuers

American Express is one of the few credit card issuers that allows you to purchase Bitcoin and other cryptocurrencies with a credit card. Bank of America and Citibank are among the issuers that had permitted the practice but have since banned all cryptocurrency purchases. Capital One does not allow cardholders to use any of its cards for Bitcoin or other transactions involving cryptocurrencies.

That said, some exchanges – such as Coinbase – no longer allow customers to link any credit card. Instead, most exchanges will accept online bank transfers, wire transfers, and debit cards.

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Where is American Express accepted?

American Express is accepted at 10.6 million merchant locations in the U.S. and in 160+ countries and territories abroad. But you’ll find some stores that have exclusive deals with the more popular networks, Visa and Mastercard. For example, Costco only accepts Visa cards now, after switching from Amex only in 2016. Plus, despite the good number of foreign countries where you can use American Express cards, acceptance is on a merchant-by-merchant basis. So, coverage in a lot of countries is hit or miss…. read full answer

Here’s where American Express is accepted:

• Where American Express is Accepted in the U.S.

  : 10.6 million merchants

• Where American Express is Accepted Internationally:

  160+ countries and territories

• Countries Where American Express is Accepted Most:

  Canada, Australia, UK, India, Singapore

• Places Where American Express is Not Accepted:

  Cuba, Sudan, South Sudan, Iran, Syria

• Major Retailers That Accept American Express:

  Amazon, IKEA, Sears, Target, Walmart, Lowe’s, Apple, Best Buy, Staples, CVS

• Major Retailers That Don’t Accept American Express:

  Costco, small non-chain stores/restaurants

So, an American Express card is enough for your shopping within the U.S. Though you may find some stores that don’t take it, the majority will. But you’ll probably want to have a no foreign transaction fee Visa or Mastercard when you go abroad. Those networks guarantee you worldwide coverage, with acceptance in over 200 countries and territories. Plus, Mastercard and Visa cards are accepted just about universally within those regions. Amex cards still have hit-or-miss acceptance in many.

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