With interest rates skyrocketing, carrying credit card balances has become prohibitively expensive. It’s always better to pay off your balance in full rather than letting your credit card bill grow each month as interest accumulates. Fortunately, BitPay Bill Pay gives you the flexibility to pay your credit card bills quickly and easily, whether you pay in full or make regular monthly payments. Read our quick primer to get started.
How to pay your credit card bill with cryptocurrency
Paying your credit card bills with cryptocurrency is quick and simple, and you can get started by following a few simple steps.
Step 1: Download the BitPay app and set up your wallet
Download our free app for Android and iOS devices. BitPay wallet is self-managed. This means that only you control your money. You can easily create a wallet to pay credit card bills or import wallets/keys created from other popular self-managed wallet applications such as Metamask, Exodus Trust Wallet, and Coinbase Wallet. Alternatively, you can make credit card payments in your browser on the BitPay website. Log in to your BitPay account and navigate to the Bill Pay tab within your personal dashboard.
Step 2: Link your account
In the BitPay app, tap the ‘Payments’ tab and then tap ‘Bill Payment’. If you are a new BitPay user, you will be asked to provide basic KYC information. Your information will be used to link your credit card account to your cryptocurrency wallet.
Step 3: Pay by credit card with your preferred cryptocurrency
Once your credit card account is connected, detailed information including card issuer, expiration date, and balance will be displayed in the app. Select your credit card, tap ‘Pay Bill’ and enter the amount you want to pay. Then select your desired cryptocurrency and confirm payment. It’s that easy.
To get started, download the app or connect to the web.
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Which credit card providers accept cryptocurrency payments?
Many consumers are loyal to their credit card brands because of the benefits they offer. No matter what credit card you use as your daily driver, BitPay Bill Pay is compatible with almost all providers, including American Express, Visa, Discover, Capital One, Chase, Barclays, and more.
What cryptocurrencies can I use for credit card payments?
BitPay Bill Pay allows businesses and lenders of all kinds, including credit card companies, to use BitPay-enabled currencies, including Bitcoin (BTC), Bitcoin on the Lightning Network, Ethereum (ETH), and Bitcoin Cash (BCH). You can accept direct cryptocurrency payments using any supported token or coin. ), 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 Eurocoin (EUROC). We’re also constantly evaluating other coins and tokens to include in this list, so check back often if you don’t see your current favorite cryptocurrency as an option.
What wallets can I use for credit card payments?
You can pay your student loans right from the BitPay app, or if you prefer to bring your own cryptocurrency wallet, you can pay online through the BitPay website.
Because the BitPay app offers self-custodial wallets, other self-custodial wallets created through alternative wallet providers can be easily imported into the BitPay app using a 12 or 24 word seed phrase. You can pay your student loan with the cryptocurrency assets contained in the imported wallet.
You can also pay your student loans through the BitPay website, which is compatible with over 100 of the most popular and trusted cryptocurrency wallets. All you have to do is sign up and connect with a lender. You will receive a custom invoice that you can pay using the wallet of your choice.
What other expenses can I pay using cryptocurrency?
BitPay Bill Pay revolutionizes and simplifies cryptocurrency payments, giving you multiple options to pay a variety of bills using the cryptocurrency of your choice. Not only can you use it to pay your credit cards, but you can also utilize BitPay Bill Pay to pay all types of bills, including auto loan payments, mortgage payments, and personal loan payments from over 5,000 of the largest lenders and service providers. .
mortgage payment
Simplify your life by ditching your bank and lender dashboard and making your monthly mortgage payment in cryptocurrency. BitPay Bill Pay allows you to pay your home loan with your favorite cryptocurrency through major banks such as Wells Fargo, Chase, Quicken Loans, Bank of America, CitiMortgage, and more. Learn more about mortgage cryptocurrency payments.
car payment
You can also use BitPay Bill Pay to pay your monthly car payment, regardless of who your lender is. Bill Pay supports cryptocurrency payments from Capital One Auto Finance, Wells Fargo Auto, Toyota Financial Services, Ford Credit, and more. If the urge to buy a Lambo is too strong to resist, you can also buy a car with cryptocurrency. BitPay has partnered with the largest and most trusted car dealerships in the country to allow you to pay for your car purchase entirely with cryptocurrency. See our guide on how to pay for a car loan with cryptocurrency.
student loan
If you took out student loans and invested time teaching or made a purchase at a low price, and now want to take advantage of that return, you’re in luck. Repay your student loans from Navient, Sallie Mae, Discover Student Loans, FedLoan Service, and many other student loan providers. Learn more about paying student loans using cryptocurrency. Read our guide on how to repay your student loans with cryptocurrency.
personal loan
You can also repay personal loans with BitPay Bill Pay, which facilitates payments to major lenders including SoFi, Marcus by Goldman Sachs, Avant, Upstart, LendingClub, and more.
Other ways to use cryptocurrency
No one likes paying bills, but if you want to keep a roof over your head or a car on the road, you don’t have much choice. But sometimes you just want to buy something fun for yourself or someone you care about. BitPay makes it easy to use your cryptocurrency for practically anything you want.
Spend directly with BitPay merchants
BitPay partners with hundreds of top merchants and retailers for direct cryptocurrency payments, including popular brands like AMC Theatres, Ralph Lauren, Newegg, Jomashop, and more. Getting started is very easy. Consult our searchable seller directory to find your favorite store or brand, then follow the instructions provided on each page.
Spend using your BitPay card
The BitPay card allows you to spend your cryptocurrency on the go through the BitPay app or via a physical card in your wallet. Available at millions of merchants around the world that accept Mastercard. BitPay cardholders can also enjoy benefits such as cashback rewards and low or no-fee ATM withdrawals worldwide. Getting your own is free and takes just a few minutes.
gift card
Your preferred retailer may not yet accept direct cryptocurrency payments. are you okay. BitPay allows you to use the cryptocurrency of your choice to purchase gift cards from a variety of major brands, including Uber, Walmart, Hotels.com, and more.
Different ways to use the BitPay Wallet app
Buy cryptocurrency at low prices
It’s always a good idea to shop around for the best possible price when purchasing cryptocurrency, but doing so for each purchase can be stressful and time-consuming. BitPay does the heavy lifting for you by leveraging its extensive partnership network to ensure you always get the best price. Our “Best Offers” feature can be accessed through our website or directly from the BitPay Wallet app. With one click or tap, you can receive multiple offers without hidden fees or excessive price increases. Select the offer that suits you best and you will be automatically taken to one of our trusted partner sites to complete the transaction.
Self-managed storage
BitPay wallets are self-managed, meaning no one but you has access to your private keys or the crypto assets they protect. For cryptocurrency users who prioritize wallet security, self-storage is the preferred solution.
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Whether you want to make direct cryptocurrency payments for items at your favorite retailers, pay credit card bills or other monthly expenses, or buy gift cards with cryptocurrency, BitPay Wallet does it all. Even if you are not a BitPay Wallet user, you can purchase cryptocurrency through the BitPay website and send it to your self-custodial wallet.
exchange
If you want to participate in a blockchain project or become a member of the cryptocurrency community, you will likely need to acquire some of the ecosystem’s native cryptocurrency tokens. For example, to access the possibilities of earning passive income through the decentralized finance (DeFi) ecosystem, you will need Ethereum or another compatible cryptocurrency. Maybe you’re interested in joining a more niche community powered by smaller, less well-known crypto tokens. In the old days, several steps were required. You first need to exchange your fiat currency for a popular coin like Bitcoin and then exchange it for smaller tokens. However, within the BitPay app, you can instantly exchange almost any cryptocurrency for another cryptocurrency using hundreds of exchange pairs.