How To Buy Bitcoin With American Express In Under 5 Minutes!

Fact Checked by Gary McFarlane

Billions of people globally share the sentiments that Bitcoin is the currency of the next generation. Although some thought it would be a failure, the digital coin managed to defy all odds and rose from the ashes. Today Bitcoin holds the highest value among all cryptos. Everyone is rushing to buy it, and yeah, we root for that. There are many methods one can use to invest in Bitcoin in the US today. However, some of these methods can get pretty confounding if you don’t do them in the proper manner. Stay with us to learn how to buy bitcoin with American Express / AMEX in the US today. You will also find out the best places to invest in Bitcoin with AMEX 2021.

How to Buy Bitcoin with AMEX – Quick 4 Step Guide

You can start buying Bitcoin with AMEX right away if you’re feeling exited about it. It only takes a few minutes to own your first Bitcoin. Here’s a step-by-step easy guide that you can follow.

  1. Open an Account with eToro: eToro is the best platform for buying Bitcoin with American Express in the US 2021
  2. Verify your Identity: Upload your ID to verify your trading account
  3. Deposit Funds: Finance your crypto wallet to start investing in Bitcoin.
  4. Buy Bitcoin with AMEX: Go to eToro’s trading platform and buy Bitcoin now.

Benefits of Buying Bitcoin with AMEX

Brokers like eToro offer a variety of payment methods. This can get you thinking about whether American Express would be your best choice for funding your crypto account. Let us walk you through why we think you will not go wrong if you buy Bitcoin with AMEX in the US 2021.

Deposit Time

Your deposits with AMEX will be instant 99% of the time. Imagine using a method that takes hours or days for your funds to reflect when you wanted to make your investment quickly. BTC is very volatile, and you want to use a method that allows you to make swift purchases when the price is right. Remember the value of BTC will not wait for you to get ready before it can start going higher. So, it’s upon you to have a reliable method like AMEX that allows you to invest instantly when you spot the perfect opportunity. US regulated brokers might only fail to allow instant deposits when they suspect fraud or unusual behaviour. In such cases, they might ask you for additional information to clear out the air. You’ll never experience a delay again after that.

Transaction Fees

Minimizing costs is one sure strategy of reaping as much profit as possible from any investment. Buying Bitcoin in the US with AMEX can be cost-friendly if you pick the right broker. Some platforms charge commissions of up to 3% or more every time you use your American Express card to invest in BTC. While this is a considerably low cost, you can get better options. Buy Bitcoin with American Express using eToro commission-free. You get to save the deposit fees that other platforms charge and go back home with more significant earnings at the end of the day.

Straightforward Process

Buying Bitcoin with AMEX in the US is a simple process. You do not need to travel, call the bank, or fill lengthy forms. All you need is a stable internet connection. Then, you can perform your transaction from the palm on your hands in just a few simple steps. You also don’t have to worry about sending your money to the wrong address because you initiate the payment from your broker’s dashboard. As soon as you click on deposit, you only have to specify the amount you want to invest, submit your card details, and you’re good to go.

Membership Benefits

American Express offers numerous rewards every time you use their services. Your points accumulate whenever you spend, and you can redeem them later for shopping or entertainment. If you were wondering whether your points grow when buying BTC with AMEX in the US, here is an answer for you. Investing in Bitcoin with American Express is like killing two birds with one stone. You might as well be killing three birds with eToro in the basket. Transact commission-free, courtesy of eToro, make money from your crypto investment and at the end of the day, earn AMEX reward points that could pay off your next holiday. What an intelligent way!

Safety

The primary purpose of investing in BTC is to grow your wealth as Bitcoin price increases. So why put your money in an asset if there is no guarantee of your fund’s safety? From 90 day protection to fraud alerts and account monitoring, American Express offers top-grade security to its members. You will get an instant replacement whenever you lose your AMEX card. You’re probably worried about the worst that could happen when your card lands in the wrong hands. Well, American Express protects you by giving you zero liability when your card is lost. Whether you had withdrawn your profits from eToro or were planning to fund your trading wallet, you wilt not lose a fraction of a penny when someone steals your AMEX card.

Improve your Credit Score

AMEX classifies crypto payments under cash advances. This means that you improve your credit score every time you buy BTC with AMEX and send your profits back to the same card. If you’re an active trader, you can start seeing significant advances in your credit score in as little as 45 days. Remember, this also opens up a whole new world of unlimited finances to you since lenders will view you as a low-risk borrower.

Bitcoin AMEX Regulation

American Express and other Credit card issuers are still on the guard regarding Bitcoin transactions until they find a way to collect on cryptos. They also consider the market volatile and unstable. Although the central bank does not play a significant role in crypto regulation, the situation may not stick around long enough. FED Chairman Jerome Powell recently mentioned that they are looking at ways of being more involved in cryptocurrencies. We expect them to publish a regulatory proposal by September 2021. Most credit card issuers are in a grey area when it comes to handling Bitcoin transactions. Some of them, like Capital One, don’t back crypto purchases at all. Citigroup is reviewing its policies to determine whether or not to continue supporting crypto transactions. AMEX, on the other hand, found a clever way of allowing its members to buy Bitcoin. While they don’t offer direct Bitcoin purchases, they will enable you to invest in BTC using a third-party regulated platform like eToro. American Express treats all BTC purchases as a cash advance, limiting you to $1,000 worth of BTC per month.

Where to Buy Bitcoin with AMEX

1.  eToro – best place to buy Bitcoin with AMEX

eToro is the go-to broker for professional traders and individuals learning how to buy BTC with AMEX in the US. For starters, this broker does not charge any commission when you invest in Bitcoin or any other digital asset with American Express. If you think there’s a catch to that, you’re absolutely right. The trick is to eliminate unnecessary trading expenses, attract many customers, and benefit from economies of scale. In fact, the company offers commission-free trading for all listed instruments. This is a win-win for both eToro and their investors.

On top of 16 virtual currencies, you will also find stocks, commodities, and forex. eToro permits you to spread out your portfolio across 2300 markets from different asset classes. In addition, the crypto exchange offers Bitcoin in the traditional sense. As such, you get to buy the underlying asset and own a real BTC when investing with eToro. You still have the liberty to trade CFDs if you’re a short-term investor.

The broker has licenses in the US, UK, Israel, Cyprus, and Australia in terms of regulation. You want to trade with a properly regulated broker for the safety of your investments. You can open your account with this broker within a matter of minutes as there is no complicated prerequisite to this. eToro’s trading platform is well integrated to accommodate newbies and the pros. Take advantage of its friendly web trader and mobile trading apps to purchase Bitcoin from anywhere in the world. Your best feature will be mirror trading. eToro has the best technology for copying orders of experienced Bitcoin traders. With this, you can start earning as you learn. The best part is that you will not incur additional fees to use this feature. Beginners choose eToro over thousands of brokers because here, you only need a minimum investment of $200 to activate your trading account. Anyone can afford this, so there’s no excuse for not investing in your future.

eToro Trading Fees

Deposit fees 0%
Withdrawal fees 0%
Trading Commissions 0%
Withdrawal fees 5%
Extra fees 0%

 

Pros Cons
 Multiple licenses  Charges a withdrawal fee of 5%
 No commissions or hidden charges
 Social Trading Platform
 User-friendly for beginners and pros
 Low minimum investment
 Allows fractional investing

 

67% of all retail investor accounts lose money when trading CFDs with this provider.

2. Coinbase – Renowned place to Buy Bitcoin with AMEX

If you would love to explore more platforms, Coinbase will be a great choice. Just like eToro, this virtual currency provider complies with the US regulations under NFA and CFTC. It is one of the most established online crypto providers and serves 190 countries globally. The broad customer base of 30 million investors is a reason enough for you to trust Coinbase with your investment. Irrespective of the digital currency you’re interested in, this exchange could be the most exemplary service you need. It is a high liquidity exchange, and this protects you from serious price requotes in a market that is already too volatile. Coinbase has an easy-to-use trading platform, and you do not need guidance to start buying Bitcoin with it. Have you ever imagined that you can earn to learn? Yes, instead of paying for your studies, Coinbase has a program that makes you money in terms of crypto every time you finish a course with them. These are free courses meant to promote crypto awareness among the population.

 

As a leading mainstream exchange, the Bitcoin provider offers a solid variety of coins. Access over 50 coins like Bitcoin, XRP, Dogecoin, Ethereum, and Litecoin on this platform. The CEO announced that they are exploring possibilities of hosting more digital assets on their platform. If they manage to do so, the exchange will be the biggest online broker in crypto listings. What might discourage you from Coinbase is high transaction fees. You will part with a fee of 3.99% every time you buy Bitcoin with AMEX using Coinbase. Many traders find this fee unreasonably as it eventually affects their returns. Coinbase also makes additional revenue by charging you a commission of 1.49% for every transaction you make. Although this is consistent with many digital coin providers, it’s still a con that they do not give users autonomous control over their investments. This conflicts with the principles of decentralized finance.

Coinbase fees

Deposit fees 3.99%
Withdrawal fees 0%
Trading Commissions 1.49%
Extra fees 0%

 

Pros Cons
 Offers more than 50 digital coins   Charges a withdrawal fee of 5%
 User friendly
 Long-standing reputation
 Regulated in the US
 High liquidity platform
 High cost of trading
 Users lack autonomous control over their holding

 

67% of all retail investor accounts lose money when trading CFDs with this provider.

How To Buy Bitcoin With Amex – Full eToro Guide

There are two main prerequisites for buying Bitcoin in the US. We already have the first one; our AMEX card. Now we need to find a proper exchange that will facilitate this transaction. Follow this guide to start buying Bitcoin with AMEX today.

Step 1: Register with eToro

Open an Online Trading Account

Setting up your online platform to purchase Bitcoin with American Express in the US is a walk in the park. Pick your broker and head to their website for registration. eToro is our best choice when it comes to online trading. You don’t have to look further. The process is straightforward.

Click the “Sign Up” button to kick off. The website will redirect you to a registration page. You need to present your email address and select a password to protect your eToro Bitcoin trading account. Short and sweet! No need to submit tons of unnecessary information at this stage.

Step 2: Prove your Legal Existence

You definitely exist because it is not a robot that opened your account, right? The law cares less. Bitcoin exchanges must verify your legal being to remain compliant with Federal law. The government wants to make sure they can trace your activities to prevent financial fraud. This also protects you so that no one can claim your account in the future. So your money and BTC will always be safe. Next, the broker will request you to submit a clear picture of your government ID or driver’s license. This will confirm that you are the person you specified while signing up. To complete this stage, you will also need to upload a proof of address (POA). Utility bills and Bank statements will sort this. Make sure your POA is recent and not more than six months old. eToro verifies account applicant documents within ten minutes. Other platforms may take one to three days.

Step 3: Finance your New Crypto Wallet

We are almost there. It’s time to transfer funds into our eToro account and start making money from Bitcoin. eToro supports numerous payment options. To use AMEX:

  1. Click on “Deposit Funds,” then select Debit or Credit card.
  2. Fill your card details in the appropriate fields, and specify the amount that you want to deposit.
  3. If everything looks OK, click “Deposit” to complete your transaction. Your balance should update in the “Available” funds section as in the picture below.
  4. See the amount circled in blue.

eToro charges 0% commission for all your deposits with AMEX. This is one of the many reasons we think it’s the best platform for buying Bitcoin with American Express for beginners.

Step 4. Buy Bitcoin

We are now set to start investing in the future currency, gold 2.0, as some financial gurus call it. There’s a search box at the top of your eToro platform for looking up any asset of your interest. Type “BITCOIN,” or the ticker symbol “BTC” to pull up Bitcoin from the list of thousands of assets on eToro.

There you go! You’ll find a couple of peer reviews, individual opinions, experts views, and much more. At the top left is the real-time price of BTC. Our current price from the above image shows that this digital coin was selling at $32,105.11. Don’t be scared. eToro allows fractional investing. So, you don’t need $32,105 to get rolling. You can start with as little as $200. There is also additional information such as “Market Open” to let us know that trading is ongoing. Lastly, eToro tells you how the asset has performed in the last 24hours. In this case, it had gained value by 8.52%—incredible performance. On the top right is the “Trade” button. This is all you need. Click on it if you’re ready to start investing.

The above pop-up window will show up when you click on “Trade.” Stipulate the amount you want to invest and press “Open Trade.” You just started trading Bitcoin on eToro with American Express.

Conclusion

The first step to making money out of anything to do with cryptocurrencies is to go ahead and invest. Many noobs, however, still don’t know the safest and most reliable ways to do so. To pull you out of such trouble, we propose using American Express card for buying Bitcoin for beginners in the US. If you have never imagined that you can buy Bitcoin with AMEX, now you know that it is as easy as shelling peas. It’s a fast and secure method, unlike alternatives like bank wire transfers. What’s exciting is that you earn perks from American Express every time you use your AMEX card.

eToro tops upon these benefits by absorbing all your transaction fees, increasing your chances of earning higher profits. The only limitation is that you have a maximum ceiling of $1,000 when using AMEX to invest in cryptocurrencies. This should not be a big challenge for a newbie. You don’t want to rush and pump in ten thousand dollars in one go before you master the ropes of the business. So get your American Express card and start learning how to invest in Bitcoin today. eToro is ready to walk with you.

eToro.com – Best Platform to Buy Bitcoin in USA

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Our score10
  • Invest in a wide range of cryptocurrencies
  • Ability to copy more experienced investors and their decisions
  • eToro crypto wallet included which makes it beginner-friendly
0% Commissionstart TradingOur score 10

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About Eugene Abungana PRO INVESTOR

Eugene Muyonga Abungana is an investment analyst, forex trader, MQL programmer, and financial writer. He is a graduate in economics and finance and currently pursuing studies in sustainable retirement investments. In addition, he has a background in literary journalism and experience in private fund management, institutional trading, and online broker setup. Eugene is a specialist at breaking down complex finance and investment topics into a simple read for everyone.