Paying Your Credit Card Bill with Bitcoin [Full Guide]

With rates of interest by the roof, carrying a steadiness in your bank cards has gotten painfully costly. As a substitute of letting your bank card payments creep up month after month as curiosity accumulates, it’s at all times preferable to pay your steadiness in full. Fortuitously, BitPay Invoice Pay supplies the pliability to shortly and simply pay your bank card payments, whether or not you’re paying the entire thing off or making common month-to-month funds. Learn on for a fast primer for getting began.

How you can pay bank card payments with crypto

Paying bank card payments with crypto is quick and easy, and you will get began by following just a few easy steps.

Step 1: Get the BitPay app and arrange your pockets

Obtain the free app for Android and iOS gadgets. The BitPay Pockets is self-custody, that means that you just, and solely you, management your funds. Simply create a pockets to pay your bank card payments or import wallets/keys created in different fashionable self-custody pockets purposes like Metamask, Exodus Belief Pockets and Coinbase Pockets. Alternatively, you can also make bank card funds out of your browser on the BitPay web site. Simply log into your BitPay account and navigate to the Invoice Pay tab from throughout the private dashboard.

Step 2: Join your accounts

Within the BitPay app, faucet the “Pay” tab after which “Pay Payments”. If you’re a brand new BitPay consumer, you’ll be prompted to supply fundamental KYC data. Your data is used to attach your bank card accounts to your crypto pockets.

Step 3: Pay your bank cards along with your favourite cryptocurrency

As soon as your bank card accounts are linked, card issuer, due date, steadiness and extra particulars are displayed within the app. Choose your bank card, faucet “Pay Invoice” and enter the quantity you’d wish to pay. Then select your most popular cryptocurrency and ensure the fee. It’s that straightforward.

Get the App or Join on Internet to Begin

Get Began

Which bank card suppliers can I pay with crypto?

Many shoppers are loyal to at least one bank card model or one other due to the perks they provide. It doesn’t matter what bank card you employ as your each day driver, BitPay Invoice Pay is appropriate with just about any supplier, together with American Categorical, Visa, Uncover, Capital One, Chase, Barclays and plenty of extra.

Which cryptocurrencies can I exploit to repay my bank cards?

BitPay Invoice Pay allows all types of companies and lenders, together with bank card firms, to simply accept direct crypto funds utilizing any token or coin BitPay helps, together with Bitcoin (BTC), Bitcoin on the Lightning Community, Ethereum (ETH), Bitcoin Money (BCH), Dogecoin (DOGE), Shiba Inu (SHIB), Litecoin (LTC), Polygon (MATIC), XRP (XRP), Dai (DAI), Wrapped Bitcoin (WBTC), Gemini USD (GUSD), USD Coin (USDC), PayPal USD (PYUSD), Binance USD (BUSD), ApeCoin (APE) and Euro Coin (EUROC). We’re additionally frequently evaluating different cash and tokens for inclusion on this record, so examine again typically when you don’t see your favourite crypto as an choice at present.

Which wallets can I exploit to pay my bank cards?

You can also make pupil mortgage funds proper from the BitPay App, or on-line by the BitPay web site when you favor to deliver your individual crypto pockets. 

As a result of the BitPay App supplies a self-custody pockets, every other self-custody wallets you’ve created by alternate pockets suppliers can simply be imported into the BitPay App utilizing your 12- or 24-word seed phrase. You can also make pupil mortgage funds from the crypto property contained in any of your imported wallets.

You can too pay pupil loans by the BitPay web site, which is appropriate with greater than 100 of the preferred and trusted crypto wallets. All you want to do is enroll and connect with your lender. You’ll obtain a customized bill that may be paid utilizing your pockets of alternative.

What different payments can I pay for utilizing crypto?

BitPay Invoice Pay has revolutionized and simplified crypto funds, supplying you with many choices to pay all kinds of payments utilizing your cryptocurrency of alternative. Not solely can you employ it to pay your bank cards, you possibly can leverage BitPay Invoice Pay to make funds on all forms of payments – auto mortgage funds, pay your mortgage, private loans and extra from greater than 5,000 of the most important lenders and repair suppliers.

Mortgage funds

Ditch the financial institution and lender dashboards and simplify your life by making your month-to-month mortgage funds with crypto. With BitPay Invoice Pay, you possibly can pay your own home mortgage along with your favourite cryptocurrency by main banks like Wells Fargo, Chase, Quicken Loans, Financial institution of America, CitiMortgage and plenty of others. See extra about paying your mortgage crypto.

Automotive funds

You can too use BitPay Invoice Pay to make month-to-month automobile funds regardless of who your lender is. Invoice Pay helps crypto funds to Capital One Auto Finance, Wells Fargo Auto, Toyota Monetary Companies, Ford Credit score and plenty of extra. You possibly can even purchase a automobile with crypto if the urge to purchase that Lambo outright has gotten too robust to withstand. BitPay companions with a few of the nation’s greatest and most trusted automobile dealerships, letting you pay for a automobile in full with crypto. See our information to paying auto loans with crypto.

Pupil loans

When you took out pupil loans for varsity, spent your lecture durations buying and selling or shopping for low, and now wish to put these income to make use of, you’re in luck. Repay pupil loans dealt with by Navient, Sallie Mae, Uncover Pupil Loans, FedLoan Service and plenty of different pupil mortgage suppliers. See extra about paying pupil loans with crypto. Learn our information to paying off pupil loans with crypto.

Private loans

You possibly can even repay private loans with BitPay Invoice Pay, which facilitates funds to main lenders together with SoFi, Marcus by Goldman Sachs, Avant, Upstart, LendingClub and plenty of others.

Different methods to spend crypto

No person likes paying payments, however you don’t have a lot of a alternative if you wish to preserve a roof over your head or your automobile on the highway. However typically you simply wish to purchase your self or somebody you care about one thing enjoyable. BitPay makes it straightforward to spend crypto on virtually something your coronary heart needs. 

Spend direct with BitPay retailers

BitPay companions with lots of of high retailers and retailers for direct crypto funds, together with fashionable manufacturers like AMC Theaters, Ralph Lauren, Newegg, Jomashop and extra. It’s extremely straightforward to get began. Seek the advice of our searchable Service provider Listing and discover your favourite retailer or model, then comply with the directions supplied on every web page. 

Spend utilizing the BitPay Card

The BitPay Card helps you to spend crypto on the go, both by the BitPay App or with a bodily card in your pockets. It’s accepted by tens of millions of retailers around the globe, anyplace Mastercard is accepted. BitPay Card holders additionally take pleasure in advantages like cash-back rewards and low- or no-fee ATM withdrawals across the globe. Getting one in all your individual is free, and takes just some minutes.

Present playing cards

Possibly your favourite retailer doesn’t settle for direct crypto funds but. No downside. BitPay helps you to use the cryptocurrency of your option to buy present playing cards from an enormous number of main manufacturers together with Uber, Walmart, Inns.com and extra. 

Other ways to make use of the BitPay Pockets app

Purchase crypto at low charges

Buying round for the very best charges when buying crypto is at all times a good suggestion, however doing it each time you purchase may be anxious and time-consuming. BitPay does the heavy lifting for you, leveraging our in depth partnership community to make sure you at all times get the very best out there worth. Our “Greatest Provide” function may be accessed by our web site or straight from the BitPay Pockets app. With a click on or faucet, you’ll be introduced with a number of affords, no hidden charges, no extreme markups. Simply choose whichever supply fits you finest and also you’ll be robotically taken to one in all our trusted accomplice websites to finish the transaction.

Retailer with self-custody

The BitPay Pockets is self-custody, that means no one however you’ll ever be capable to entry your non-public keys or the crypto-assets they assist defend. For crypto customers who prioritize pockets safety, self-custody is the popular answer.

Spend

Whether or not you’re making direct crypto funds for merchandise at your favourite retailer, paying your bank card payments or different month-to-month bills or shopping for present playing cards with crypto, the BitPay Pockets does all of it. Even when you aren’t a BitPay Pockets consumer you possibly can nonetheless make crypto buys and have them despatched to any self-custody pockets by the BitPay web site.

Swap

If you wish to take part in a blockchain undertaking or turn out to be a member of a crypto group, you’ll probably have to amass a few of the ecosystem’s native crypto token. For instance, if you need entry to passive earnings incomes potentialities out there by the decentralized finance (DeFi) ecosystem, you’ll want some Ethereum or one other appropriate cryptocurrency. Possibly you are inquisitive about becoming a member of a extra area of interest group powered by a smaller, lesser-known crypto token. As soon as upon a time this required a number of steps. First you’d should trade fiat for a big-name coin like Bitcoin, then trade that for the smaller token. However throughout the BitPay app, you possibly can immediately trade nearly any cryptocurrency for every other, with lots of of swapping pairs out there.