How to Buy Bitcoin with American Express in 2023 | CoinJournal

Is using American Express the Best way to buy Bitcoin?

You have now seen the benefits and drawbacks of buying Bitcoin with an Amex card, but it remains to be seen how it compares to other payment methods. There are plenty of alternatives, and which is right for you depends on your individual situation. Let’s take a look at some of the most popular payment methods for buying Bitcoin.

Credit card

Buying Bitcoin with a credit card other than American Express is just as fast and convenient. You will get similar flexibility and security, with the added benefits that the fees may be a bit lower and they are more widely accepted. The vast majority of crypto platforms accept Mastercard and Visa credit cards.

Debit card

Buying Bitcoin with a debit card has some of the same advantages as using a credit card. It is also fast and convenient, and you can use your debit card on almost any crypto platform. A debit card won’t improve your credit score or give you the flexibility to pay later, but on the plus side, using a debit card can’t harm your credit score or get you into debt.

Bank Transfers

Using a bank account to buy Bitcoin is one of the most popular options as it is often the cheapest—the fees tend to be low or even non-existent. There are loads of crypto platforms that accept bank deposits, but it could take a few days to process the transfer, unless you can use a network like Faster Payments for immediate transfers.

PayPal

Buying Bitcoin with PayPal is a popular option due to its convenience and speed, but hardly any crypto platforms accept PayPal deposits from users outside the US. You can buy Bitcoin directly on the PayPal platform, but your choice of altcoins and features will be far more limited on PayPal than on a crypto platform.

Apple Pay

The checkout process is speeded up when you buy Bitcoin with Apple Pay. It provides an easy, private, and secure payment method, but you will likely find that your choice of platforms that accept Apple Pay is rather limited.

Google Pay

Buying Bitcoin with Google Pay brings many of the same benefits as using Apple Pay, such as speed and security. There is no limit on transactions, and it is easy to set up your account, but there aren’t that many crypto platforms that accept Google Pay as a payment method.

Skrill

If you use Skrill to buy Bitcoin, you will benefit from speed, ease, and security. Skrill is a digital wallet, and although it is not as widely accepted as cards and bank transfers, you can use Skrill to make deposits on platforms such as eToro, Bitpanda, and Capital.com.

Neteller

Using digital wallet and e-money transfer service Neteller to buy Bitcoin is somewhat similar to using Skrill. You will find that many of the same crypto platforms accept both Skrill and Neteller deposits.

Venmo

You won’t be able to buy Bitcoin with Venmo on a crypto platform, but you can purchase as little as $1 of BTC on the Venmo platform in the crypto tab. Similar to PayPal, however, you won’t have access to many coins or features, and the fees can be higher than on crypto platforms.

Paysafecard

Those who don’t have access to a credit card or bank account may find it convenient to buy Bitcoin with a Paysafecard, as it provides an easy way to pay with cash. However, you may find that your options are limited when it comes to where you can use it and how much you can spend.