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How to Buy Crypto with Mastercard in Australia

Summary: Mastercard is one of the leading payment methods in the world alongside Visa and American Express. In this guide, we show Mastercard users how to buy cryptocurrencies like Bitcoin with their card. To buy crypto in Australia you will need to use a crypto exchange like eToro.

Serah Huels
August 13, 2022

Mastercard is a global technology company that connects consumers, businesses, financial institutions, and governments to fast, secure and reliable electronic payments.

It operates one of the world's most advanced processing networks - MastercardNet - that is capable of handling more than 24 billion transactions a day. It is a vehicle for commerce, a connection to financial systems for the previously excluded, and a technology innovation engine.

Table of Contents

Where can I Buy Crypto with Mastercard?

Not every cryptocurrency exchange in Australia or the world accepts card as a payment method to deposit fiat currencies on an exchange. This is because there is slightly more risk in accepting card payments when you compare it to bank transfers or wire deposits.

However, the more seasoned and trusted exchanges like eToro accept card payments. eToro is the best multi-asset brokerage platform globally. In addition to crypto, customers can invest in stocks, currencies, commodities, ETFs and indices. You can even buy Mastercard stocks on eToro.

How to Buy Bitcoin & Crypto with Mastercard

Buying Bitcoin and other cryptocurrencies is a simple and straight forward process when you go through the eToro exchange. On eToro you can also deposit via Bank Transfer, PayPal, Skrill and more. Follow the below steps to buy crypto with your Mastercard.

  1. Sign up to eToro and verify your identity
  2. Select 'Deposit Funds' and choose Credit/Debit card
  3. Enter your details and amount of AUD then press 'Buy'
How to buy Crypto on eToro with Mastercard
  1. Find Bitcoin in the search bar at the top of your screen
  2. Enter the amount you want to buy and select 'Open Trade'
How to Buy Bitcoin (BTC) on eToro with Mastercard
How to Buy Bitcoin (BTC) on eToro with Mastercard.

Is Mastercard Crypto-Friendly?

Mastercard has been a vocal supporter of cryptocurrency and blockchain technology. In February 2018, the company's CEO, Ajay Banga, said that "blockchain is real" and that Mastercard was "very excited" about its potential. Mastercard remains one of the most crypto-friendly major payment processors.

In June 2018, the company announced that it was partnering with R3, a blockchain consortium, to develop a new payments platform using blockchain technology. And in July 2018, Mastercard announced that it was opening up its network to select cryptocurrencies. The move will allow crypto companies to process payments on the Mastercard network and will make it easier for consumers to use their digital currencies to make purchases.

How to Buy Mastercard Stocks on eToro

This guide shows Aussie investors how to buy Mastercard stocks on the eToro trading platform. Follow the below steps to get started.

  1. Look for 'Mastercard' on eToro in the search bar
  2. Input the amount of AUD you want to spend and press 'Set Order'
Buying Mastercard stocks on eToro

When buying stocks on eToro, you will not be charges any fees or commissions. But when you buy cryptocurrencies all trades are subject to a 1% fee. If you are interested in learning more about eToro and its fees, we recommend visiting our eToro Review.

Buy Crypto with Mastercard

Author Bio

Serah is our Editor in Chief and was the first person to join the Buy Crypto Australia team. She is a digital & crypto native, having been in the space since 2015.

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