Beginning your crypto journey with innovative payment methods like Afterpay has become much easier. The platform runs a buy now, pay later (BNPL) service, providing flexible payment options for users. It also provides Afterpay Card services, which are instrumental in helping crypto enthusiasts buy BTC and other cryptocurrencies they like. This guide will walk you through the process and considerations of buying Bitcoin and crypto using the Afterpay payment method.
Can I Buy Bitcoin and Crypto With Afterpay?
Yes, you can buy Bitcoin and any crypto assets using Afterpay services, but there are certain conditions you must note. Firstly, Afterpay does not support direct crypto purchases on the app or website. Instead, you can use its products (e.g., Afterpay Card) to get money to fund an exchange, then buy crypto with the money.
We recommend eToro as a suitable crypto exchange platform for buying and trading cryptocurrencies using Afterpay Card for fund deposits. Before starting the purchase, ensure your Afterpay account is functioning well and properly linked with the card you want to use. Also, prepare your eToro account by registering your correct details and completing KYC verification prompts.
Step-by-step Guide to Buy Bitcoin and Crypto With Afterpay
eToro supports fiat deposits via Visa or MasterCard debit/credit cards, and the Afterpay card usually operates with MasterCard, making it a perfect fit for the exchange. Once you’re ready, follow the steps below to buy crypto using Afterpay:
- Open the eToro website and log in to your account.
- Click on Deposit → Credit/Debit Card on the homepage to proceed.
- Enter your Afterpay Card details accordingly in the provided space. Ensure the numbers inputted on eToro match what is on the card.
- Next, write the amount you wish to deposit and pass the verification pop-ups to confirm the transfer.
- Once your eToro has been funded, locate the trading section, select BTC or any other cryptocurrency, and specify the amount you want to buy.
- Follow the on-site prompts to Confirm the purchase.
Once you’ve completed the purchase, your crypto will reflect in the wallet section within your eToro account. As for Afterpay repayment, your purchase will be split into four installments, due every two weeks. Ensure timely payments to avoid late fees.
Fees When Buying Bitcoin and Crypto With Afterpay
Afterpay fees are minimal but must be understood to give you a better experience using the platform. Afterpay fees include charges for depositing funds, withdrawals, and executing trades. Fees, however, are usually not up to 3% of the total money in question. Also, Afterpay does not charge interest if payments are made on time, but late payment can incur fees. Contact your Afterpay Support for more details on the attached fees if possible.
About Afterpay
Afterpay is a popular BNPL fintech company that allows users to buy items and pay later with no interest. The platform, founded in 2015, is now a leader in the buy now pay later market, creating more innovations on fintech betterment. Afterpay services like the Afterpay Card are also useful for paying for services like other cards and introducing you to the crypto space. Users can easily sign up, get credit approval, and buy crypto on supported exchanges like eToro. Also, purchases are split into four payments, with the fiat due at clearance, but the others are done bi-weekly.
Bottom Line
Buying crypto is much easier with the Afterpay Card payment method on major exchanges like eToro. While Afterpay doesn’t directly allow for cryptocurrency purchases, eToro makes it possible to use Afterpay indirectly through Afterpay Cards. Simply follow the steps shown above to buy BTC or other crypto you like. However, users should be mindful of associated fees and ensure timely payments to avoid extra costs.
