 TITLE: Can I Buy Cryptocurrency With a Credit Card? CONTENT: Drawbacks of Buying Cryptocurrency With a Credit Card\n-----------------------------------------------------\nThere are many potential drawbacks to using a credit card to buy a cryptocurrency, and few—if any—benefits. The specifics can vary depending on your card's terms and the exchange, but consider:\n*   **The transaction may be considered a cash advance.** If your credit card issuer treats the transaction as a cash advance, you may have to pay a cash advance fee on each transaction and it may immediately accrue daily interest—often at a higher interest rate than purchases. Your card may also have a lower cash advance limit than credit limit.\n*   **Promotional interest rates won't necessarily apply.** Even if your card offers a 0% APR promotional rate on purchases, this generally won't apply to cash advances.\n*   **You may pay foreign exchange fees.** If the exchange or payment processor isn't based in the U.S., you may also have to pay a foreign transaction fee for each purchase.\n*   **You might not earn rewards.** Rewards credit cards also often won't give you rewards for cash-like purchases, including cash advances. The purchases also might not count toward intro bonus requirements.\nAdditionally, exchanges may charge different fees depending on how you add funds to your account or make a purchase. Often, a bank transfer can be less expensive than using a debit or credit card.\nYou'll also want to research an exchange before submitting any of your information. Some sites may be scams set up to gather your personal and payment information. While buying cryptocurrencies can be safe, even some well-known exchanges have abruptly shut down without returning customers' funds—what's known as an exit scam. END