Steve Carney 
Many people are looking to make cryptocurrency investments as the digital currency has gained widespread attention in recent years. American Express (AMEX) is a major credit card issuer in the United States and a convenient way to purchase cryptocurrency. It’s good news for American Express cardholders who have been waiting for the option to buy Bitcoin and other cryptocurrencies with their plastic. Following this advice, you’ll be able to use your American Express card to buy Bitcoin and other cryptocurrencies in 2023 with confidence and easily.
Can You Use the American Express Platform to Buy Crypto Directly?
American Express does not provide a way to buy cryptocurrency on its site. Customers will need to use a cryptocurrency exchange to get cryptocurrency with an American Express card. While there are no American Express-specific perks for buying cryptocurrencies, there are still advantages to using a credit card like American Express, such as added security and the possibility of earning rewards points or cashback on the purchase. Before making any purchases involving cryptocurrencies, individuals should always do their due diligence and fully comprehend the risks involved.
How to Buy Crypto with American Express (AMEX): Here’s Our Guide
Let us remind you that not all cryptocurrency exchanges accept American Express cards. Check if your preferred crypto exchange accepts AMEX. Here’s a step-by-step guide on how to use American Express to buy crypto on a cryptocurrency exchange:
Select a Cryptocurrency Exchange:
Before you can use your American Express card to buy cryptocurrency, you’ll need to find a cryptocurrency exchange that accepts it. You can use your American Express at many other exchanges, including Coinbase, Bitstamp, and CEX.IO. Finding an exchange that satisfies your demands regarding costs, security, and accessible cryptocurrencies requires some homework and comparison shopping.
Sign Up:
After settling on a specific marketplace, it’s time to sign up for an account by giving your name, email address, and password. Your home address and phone number may be asked for in some transactions.
Verify Your Identity:
First, you’ll need to verify your identity, as this is a standard procedure at any cryptocurrency exchange. This is necessary to avoid violations of the law and ensure compliance. Providing a government-issued ID like a passport or driver’s license plus a selfie of yourself holding the ID is standard procedure for establishing your identity online. After that, the market will consider your application and either accept or reject it.
Link Your AMEX Card:
After passing the identity verification process, you can link your American Express card to the marketplace. You can do this by entering your card details in the relevant section of your account’s settings or payment options. Additional details like a billing address and credit card verification number may be requested.
Choose the Cryptocurrency:
Once your card has been linked, you will be able to select the cryptocurrency you want to buy. Bitcoin, Ethereum, Litecoin, and many more are all available on most exchanges. The list of supported cryptocurrencies is often displayed either on the main page of the exchange or in the “buy” section of your account.
Enter the Amount:
Once you decide on a cryptocurrency, you can enter the amount you wish to buy. The final price, including any applicable exchange or American Express fees, will be calculated automatically based on the current market rate. Verify the exact sum and any additional fees before committing to the deal.
Verifying the Deal:
After entering the sum, you can check its accuracy by reviewing the purchase’s details. It’s possible that certain trades will ask for a one-time password or mobile app verification. As soon as you complete the trade, the exchange will process your payment and buy the cryptocurrency for you.
Receive Your Transaction:
Your crypto exchange account will be credited once the transaction is verified and executed. The amount of cryptocurrency you have acquired may usually be shown in your account balance or wallet. The cryptocurrency may appear in your account immediately, or it may take a few hours, depending on the exchange.
Withdraw Your Crypto:
You can now trade or hold your crypto on the exchange or withdraw it to a personal wallet. Your cryptocurrency will be sent to your wallet address in your account settings or wallet. Withdrawals from some exchanges may additionally necessitate a one-time password or email confirmation. Verify that the wallet address is correct before approving the withdrawal to prevent losing cryptocurrency due to an incorrect address.
In general, making a Bitcoin purchase on an exchange with an American Express card is a simple process. You should never invest more money than you can afford to lose, as cryptocurrency markets may be highly unpredictable and hazardous. You should also analyze the prices and select the most cost-effective choice for your needs, as using a credit card to purchase cryptocurrency can incur greater fees than other payment methods.
Conclusion:
Although American Express does not currently support in-app purchases of cryptocurrency, it is possible to use an American Express card to buy cryptocurrency through an exchange. Remember that the cryptocurrency market is extremely unpredictable and risky, so before investing, you should do your homework and only risk money you can afford to lose. You should also analyze the prices and select the most cost-effective choice for your needs, as using a credit card to purchase cryptocurrency can incur greater fees than other payment methods. If you want to use American Express to buy cryptocurrency on an exchange, read this advice carefully and implement the safety precautions it recommends.
