How to Buy Crypto with Amex Card: 3 Easy Methods
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American Express, or Amex, is a popular U.S.-based credit card provider. To buy crypto with Amex, investors need an account with an online exchange that accepts payments from the credit card issuer. Other options include non-custodial wallets and peer-to-peer (P2P) exchanges.
Read on to discover the best ways to invest in digital assets with Amex, how the process works, and what fees to consider.
Key Takeaways
- Compared with Visa and MasterCard, a much smaller range of platforms accept Amex payments.
- For purchasing crypto with Amex in a non-custodial environment, one of the best choices is the Best Wallet app. It supports dozens of cryptocurrencies and eliminates counterparty risks through real asset ownership.
- Centralized exchanges such as MEXC and Binance partner with fiat gateways like MoonPay, which indirectly allows users to buy crypto with Amex.
- P2P exchanges are another popular solution. Users purchase digital assets directly from domestic merchants that accept Amex.
- Like most credit and debit card issuers, Amex typically charges cash advance fees on crypto purchases. Cardholders also incur interest on their digital asset investments if they fail to clear the statement balance in full.
Can You Buy Crypto With Amex Card?
Amex’s recent collaboration with Coinbase One, an exchange-backed credit card, is one of the institution’s first crypto partnerships. Even so, Coinbase and many other Tier-1 exchanges do not accept Amex payments. Our research shows many platforms lack Amex support because of higher processing fees, limited regional access, and inconsistent crypto policies.
We analyzed hundreds of exchange and wallet providers to identify suitable solutions for Amex holders. Non-custodial wallets like Best Wallet, Trust Wallet, and MetaMask allow Amex payments via MoonPay, the popular fiat gateway. These wallets offer a smooth investment and non-custodial experience with instant execution.
MoonPay and other reputable gateways also partner with the best crypto exchanges. MEXC, for example, allows instant Amex purchases for Bitcoin (BTC), Ethereum (ETH), XRP (XRP), and more.
Users based in countries with limited exchange accessibility prefer P2P exchanges like LocalCoinSwap. The platform connects buyers with merchants in the same country, so they can buy cryptocurrencies without foreign exchange fees.
From wallets and exchanges to P2P providers, each purchase method offers pros and cons. Investors should consider transaction fees, available cryptocurrencies, security, and the overall trading experience.
While the American Express Mobile App has partnered with blockchain and crypto companies, it does not support direct cryptocurrency purchases, nor does it have an integrated crypto-wallet functionality.
How to Buy Crypto With Amex: Step-by-Step Guide
The following step-by-step walkthroughs explain each purchase method in simple terms. Read on to learn how to buy crypto with Amex using Best Wallet, a centralized exchange, or a P2P marketplace.
Buy Crypto With Amex via a Non-Custodial Wallet
Our research shows that Best Wallet is the overall best place to buy digital assets with an Amex card. The app supports a massive selection of coins and tokens, from BTC and ETH to top meme coins like Pepe (PEPE) and OFFICIAL TRUMP (TRUMP).
The key benefit is Best Wallet’s non-custodial framework. It ensures true custody of the underlying assets, since only the wallet user controls private keys.
Step 1: Download and Set up the Best Wallet App
Visit the Best Wallet website and download the free iOS or Android app.
It only takes a couple of minutes to secure the wallet. Choose a four-digit PIN, then secure the 12-word seed phrase for wallet recovery (you’ll need it if you lose your smartphone). Write the phrase on a sheet of paper only. Never store it online, as cybercriminals could hack the credentials remotely.
If you prefer facial recognition or fingerprint ID over a PIN, activate biometrics in the app’s settings. To maximize security, set up two-factor authentication. Best Wallet sends an SMS code for each login request thereafter.
Visit Best WalletStep 2: Choose a Crypto to Buy
Best Wallet’s asset library covers a huge selection of cryptocurrencies from the leading blockchain ecosystems.
To browse available markets, tap “Trade” and “Buy With Bank Card”, which will open the bank transfer menu. Then input the cryptocurrency’s name or explore tokens by blockchain (e.g., Solana or Base).
Step 3: Fill Out the Crypto Order Form
Once you have selected a crypto to buy, choose the fiat currency and purchase amount. Ensure the currency aligns with the Amex card to avoid foreign exchange fees.
Select “Credit Card” as the payment method and “MoonPay” as the gateway provider.
The Best Wallet app then displays the exchange rate, as set by MoonPay. Note that the gateway includes commissions and fees in the final quote.
Step 4: Complete Amex Crypto Purchase via MoonPay
Tap the “Buy” button, and Best Wallet redirects you to the MoonPay payment page.
Enter your Amex details, including the 15-digit card number, expiry date, and the four-digit CVV.
MoonPay processes the payment instantly and automatically transfers the purchased cryptocurrencies to your Best Wallet balance. Those coins or tokens remain in non-custodial storage, so you retain full asset ownership.
How to Buy Bitcoin With American Express on a Centralized Exchange
To purchase Bitcoin with Amex on a centralized exchange, you’ll need to register an account, complete KYC, and use the exchange’s instant buy feature.
The following tutorial uses MEXC, as it offers competitive fees and access to over 4,000 crypto markets, including spot trading and perpetual futures with leverage.
Step 1: Open a MEXC Account
Go to the MEXC website and click “Sign Up” to register an account.
The registration process initially requires an email address or mobile number only. Choose a strong password and verify the contact method.
Visit MEXCStep 2: Complete Advanced KYC
While MEXC remains one of the best no-KYC crypto exchanges, it requires identity verification to access fiat facilities.
Hover over the profile icon and select “Identification” followed by “Advanced KYC”.
The hassle-free KYC process comprises two steps. First, upload a government-issued ID such as a driver’s license or passport. Then complete the facial verification procedure via your desktop webcam or smartphone camera.
Our research shows that MEXC typically verifies identities in seconds.
Step 3: Use the Instant Buy Feature
MEXC’s instant buy feature lets verified users purchase digital assets through credit card payments.
Click the “Buy Crypto” button from the top menu and choose a fiat currency. Then select an asset to buy from the drop-down list. The feature supports a wide range of cryptocurrencies, including meme coins like Popcat (POPCAT), Pudgy Penguins (PENGU), and Shiba Inu (SHIB).
If you plan to access MEXC’s broader asset library, including derivative markets, we recommend you buy Tether (USDT). This is because the vast majority of spot and futures pairs contain the stablecoin.
Enter the purchase amount, change the payment method to “Third Party”, and tap “Buy”.
Step 4: Choose MoonPay and Complete Payment
MEXC displays available fiat gateways based on currency, digital asset, and purchase size. Ensure you select “MoonPay” to buy crypto with Amex. Review the quoted exchange rate, which includes the
Then complete the payment by entering your Amex details. MEXC generates a unique wallet address for the coin or token, so MoonPay automatically transfers the assets after payment.
Click the “Wallet” button to view your cryptocurrencies. If you’re looking for a non-custodial storage experience, withdraw your assets to a private wallet like Best Wallet or MetaMask.
Buy Crypto with Amex on a P2P Marketplace
P2P providers typically support more fiat currencies and payment options than traditional exchanges. They also enable users to purchase assets from sellers in the same country, which helps eliminate foreign exchange charges.
Our research suggests that LocalCoinSwap is one of the best P2P crypto exchanges with support for Amex payments. Its escrow system ensures a safe trading experience for buyers and sellers alike.
Step 1: Open a LocalCoinSwap Account
Visit LocalCoinSwap to open an account. Provide an email address, password, and country of residence.
As a no-KYC platform, the exchange requires no personal information.
Step 2: Fill Out P2P Parameters
Click “Buy Crypto” to fill out the P2P search parameters.
Select “American Express” as the payment method, as well as your preferred digital asset and location. To access a broader selection of Amex merchants, consider leaving the asset and location fields as “Any” and “Worldwide”.
Step 3: Choose a Merchant
LocalCoinSwap lists available Amex merchants based on your parameters. It sorts out search results by the quoted exchange rate, so the top-listed sellers offer the most competitive prices.
Reviewing the exchange rate is essential, as some merchants charge over 50% above the spot price on Amex payments.
In addition, evaluate the seller’s history on LocalCoinSwap, including their historical trades, rating, and average transfer time.
Step 4: Wait for Escrow Confirmation and Complete Payment
After you choose a merchant and accept their terms, they transfer the exact amount of cryptocurrencies to the exchange’s escrow wallet.
Important: Do not complete the payment until LocalCoinSwap confirms the escrow deposit. The escrow system helps protect buyers against scams.
The merchant then sends a payment link that allows you to enter the Amex card details. Once processed, they mark the P2P trade as complete, and LocalCoinSwap releases the cryptocurrencies from its escrow wallet.
You can then withdraw the purchased assets to a non-custodial wallet.
What Fees to Expect When Buying Crypto with American Express
Investors incur multiple fees when they buy Bitcoin with Amex. Besides platform fees tied to payment processing and trading commissions, the credit card issuer may charge cash advance fees and interest.
Here are the main fees to consider when using Amex to purchase digital assets.
Platform Fees
Whether you use a non-custodial wallet or a traditional crypto exchange, platforms rely on gateway providers for Amex payments.
MoonPay, which processes Amex transactions for most crypto stakeholders, may charge up to 4.5% of the purchase amount, depending on the currency. It builds those fees into the quoted exchange rate, so ensure you cross-reference them against the real-time spot price.
Cash Advance Fee
Most credit card issuers, including Amex, Visa, and MasterCard, treat crypto-related purchases as cash advances. Similar to ATM withdrawals, these fees average 3–5% of the purchase amount.
Cash advances also trigger interest payments right away, which adds additional costs to the crypto investment.
Interest Fees
Most Amex billing cycles range from 28 to 31 days. Each cycle requires payment on a certain date of the month. If users do not clear the balance in full, they incur interest charges on the outstanding amount.
Amex interest rates average 20% to 30% APR, depending on the card type. Paying interest on crypto investments adds significant fees to the cost basis.
Foreign Exchange Fees
Amex typically charges 3% on foreign exchange purchases. You avoid those fees by buying cryptocurrencies in the same card currency.
Pros and Cons of Buying Bitcoin with Amex
The benefits of buying cryptocurrencies with Amex include instant purchases, fraud protection, and the potential to earn cashback rewards. Alongside higher fees, a key drawback is that few crypto platforms directly accept Amex payments.
Benefits of Buying Crypto With Amex
Here are the advantages of using Amex to buy cryptocurrencies:
- Instant Payments: As merchants process Amex payments instantly, the credit card offers one of the fastest ways to invest in cryptocurrencies.
- Purchase Protection: Amex provides strong purchase protection, which adds additional security measures to online payment methods.
- Potential Rewards: Some Amex cards offer rewards on eligible purchases, which could include crypto payments (depending on the merchant).
Drawbacks of Buying Crypto With Amex
Here are the disadvantages of using Amex to buy cryptocurrencies:
- High Transaction Fees: In addition to platform commissions, Amex users may incur cash advance fees on crypto purchases. These fees add 3–5% to the purchase amount.
- Limited Platform Support: Since fewer exchanges directly support Amex, crypto investors have limited platform options compared with other fiat methods.
- Credit Risk: Using credit to buy digital assets is a very high risk. If the investment value drops, investors must still repay the full purchase amount.
Can You Buy Crypto with Amex without Verification?
Many online exchanges have strict KYC processes to comply with domestic anti-money laundering (AML) regulations. As such, to buy Bitcoin with a credit card without ID verification, investors typically use offshore exchanges based in countries with weaker compliance requirements.
Even if the trading platform permits Amex purchases without KYC, the fiat gateway may have its own policy. Remember that you must enter the full Amex card details when completing a crypto purchase, so achieving true anonymity is challenging.
Conclusion: What is the Best Way to Buy Crypto With Amex?
We researched the market extensively to identify the best places to buy crypto with Amex. Our findings show that Best Wallet is the overall top choice for Amex holders.
The Best Wallet app supports Amex payments via third-party gateways like MoonPay. The non-custodial wallet lists top cryptocurrencies from over 60 blockchains, and it stores purchased assets automatically in a decentralized framework.
Visit Best WalletFAQs
What cryptocurrencies can I buy with Amex?
Can I earn Amex rewards for crypto purchases?
Is it safe to buy crypto with Amex?
Does MoonPay support Amex?
Does Kraken take Amex?
Does BitPay accept American Express?
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