Cash equivalence: Another reason card issuers aren't big fans of cryptocurrency is that it can be traded for actual currency.It can also mean legal complications down the line, another thing banks strongly dislike. The lack of regulation adds even more uncertainty to an already very risky product. Poor regulation: Unlike most other financial products, there is very little regulation when it comes to cryptocurrency.They won't let you use your credit line - also known as 'their money' - to make dicey purchases. That volatility makes cryptocurrency stocks very risky, and banks are notoriously against risk. Many other cryptocurrencies have had similar (though less publicized) histories. Uncertainty: If you've spent much time researching crypto, you've undoubtedly seen the extreme ups and downs that Bitcoin has experienced over the last few years.Why? There a few main reasons card companies won't allow crypto purchases: Most major card companies have prohibited purchasing cryptocurrency at all. Of course, even if you're willing to pay the exchange's fees to use your card, your credit card issuer could still be a problem. The crypto exchanges that do take credit cards will charge you for the privilege, and those fees can add 3% or more to your transaction. Many of the popular exchanges won't allow credit card purchases at all. You'll also need an exchange that allows credit card transactions. This is a business that facilitates the buying and selling of cryptocurrency, sort of like a stock exchange. If you're wondering whether you can use a credit card to buy Bitcoin or other crypto, the answer is yes - but not easily.įor one thing, you'll first need to find a cryptocurrency exchange.

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