Crypto Credit Card Fees: A Costly Route for Buying Bitcoin

Buying Bitcoin with a credit card can be costly due to multiple fees.

The first fee is the deposit or card fee charged by the trading venue, which ranges from 1.80% to 3.99% of the transaction amount.

The second fee is the bank's surcharge for treating the crypto purchase as a cash withdrawal, known as quasi-cash.

This clause can be found in some card contracts and charges between 3.5% and 3.00% of the transaction amount, with a minimum of €5.95.

For example, on an outlay of €100, the total fee would be €9.94, which is 9.94% of the purchase price.

The quasi-cash clause can also lead to debit interest being charged, adding extra costs for buyers who do not settle their card transactions in full within the same month.