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Crypto Payments Guide

Buying Crypto: Platforms and Payment Methods​

Several apps and websites allow US users to buy crypto. Most require identity verification (KYC - providing personal information and ID). Common funding methods include linking a bank account (ACH), using a debit card, or sometimes PayPal, Apple Pay/Google Pay.

Important Considerations for Using Cards (Debit/Credit) & Apple/Google Pay​

Buying crypto with cards can be convenient but has pitfalls, based on user reports:

  • Declines Common (Especially Credit Cards): Banks often flag or block crypto purchases, especially with credit cards, due to risk policies. VISA credit cards are frequently mentioned as problematic.
  • Debit Cards Often Work Better: Users generally report higher success rates using debit cards. Some banks are more crypto-friendly than others.
  • High Costs & Risks (Credit Cards): Using credit cards often incurs high fees: exchange processing fees (~3%+) PLUS potential cash advance fees from your card issuer (another 3-5%+) with high interest charged immediately. Buying volatile assets like crypto with credit is generally discouraged.
  • Apple Pay / Google Pay Convenience: These use the underlying card linked in your digital wallet. While convenient if supported by the crypto platform, they do not bypass the potential bank declines or high fees associated with the linked card.
  • Bank Account (ACH) Alternative: Linking a bank account (ACH transfer) is often slower (funds might take days to clear for withdrawal) but typically has lower fees and potentially higher reliability than card payments.

This guide covers common platforms like Cash App, PayPal, Coinbase, and mentions Others. The most critical part is Sending to the Vendor Correctly.