American Express

American Express stands out with its unique approach to crypto deposits. Currently, only two reputable crypto platforms support AMEX, but CryptoChipy predict this will evolve in the future.

History of American Express

American Express began as an express mail service in the 1850s, founded by Henry Wells, William Fargo, and John Warren Butterfield. The company soon expanded into the financial sector and would not issue credit cards until the 1950s. It was the first company to introduce plastic credit cards and quickly became associated with premium services. Today, American Express continues to cater to affluent customers and is celebrated for its rapid transaction speeds and dependability. However, the crypto platforms that accept AMEX typically charge an additional 3-4% fee. While it is a convenient option for customers, this surcharge makes it less appealing for crypto exchanges and platforms to use American Express as a payment method. Below is a list of top crypto sites accepting AMEX for deposits.

Currently, there is 1 crypto trading platform and 44 crypto casinos that support American Express as a deposit method, as detailed in the lists below.

Summary

American Express is a well-regarded credit card, frequently utilized by affluent professionals. Although it doesn’t enjoy the same widespread acceptance as Visa, it is still supported by numerous crypto exchanges for deposits. Deposits made using this card can be processed in as little as one to three seconds. As one of the earliest credit card issuers, American Express holds a historic position in the industry, being the first to release plastic cards. When using American Express for payments, a fee is typically applied, either a fixed amount of $5 or 3% of the transaction value, whichever is greater. Leading exchanges and brokers like Binance and eToro offer their users the ability to deposit fiat currency into their accounts. Afterward, these funds can be used to purchase Bitcoin, Ether, or any other cryptocurrency of choice.

What is American Express?

To obtain an American Express credit card, you must apply through the official AMEX website. The application requires personal and banking information. Typically, the company will respond within 90 days. With this credit card, you can make payments in just three seconds, and its fees are generally considered fair. Notably, American Express serves both as a card issuer and a card network. Additionally, their cards do not have any pre-set spending limits.

American Express Costs

When making transfers with American Express cards, there is a fee of $5 or 3% of the transaction amount, whichever is higher. On top of this fee, the crypto exchange may charge its own transaction fee. Be sure to check the terms of your chosen crypto exchange to understand the full transaction cost.

Transaction Speed for American Express

American Express mobile payments are completed in just three seconds, offering an extremely fast payment experience. This is comparable to other credit and debit cards. For more details about when payments are processed, you can visit the official website of the credit card.

American Express Crypto Deposits: How To Do It?

1. First, sign into your account on your chosen crypto exchange.
2. Navigate to the deposit page and select the credit card option from the list of banking methods.
3. Next, choose your currency and the deposit amount.
4. Finally, complete the payment by verifying your account.

Which are the main countries where American Express is used?

American Express, while smaller than Visa and MasterCard, is extremely popular in the USA. Due to its affluent user base, AMEX has a higher transaction volume than MasterCard in the United States. Other countries where the card is commonly used include the Bahamas, Mexico, Italy, and India. However, there are some places where the card is not accepted at all, including South Sudan, Cuba, Syria, and Iran.

Can you withdraw with American Express?

Yes, it is possible to make withdrawals to your American Express card. However, if a particular website does not support AMEX withdrawals, you will typically need to process the payment via a bank transfer.

Reputation of American Express

American Express is one of the most trusted and well-known brands globally. The card is recognized for its reliability, consistently processing payments quickly. However, a key drawback is that American Express is not as widely accepted as other credit cards. Additionally, some users have expressed dissatisfaction with the telephone customer support provided by the company. If you are unable to use American Express on your chosen crypto exchange, you might want to consider alternatives like Visa or MasterCard. Other cryptocurrencies can also be effective substitutes for American Express.

FAQ

Here are some of the most frequently asked questions about depositing with American Express on a crypto exchange or platform.

Is it safe to use American Express for cryptocurrencies?

It is generally safe to use American Express for deposits on crypto exchanges. However, you need to be cautious since phishing scams are fairly common. To avoid falling victim to such scams, refrain from clicking links in emails or text messages.

How do I set up American Express?

To obtain an American Express credit card, visit the official American Express website. After selecting the card that best suits you, submit your application, which will require personal and banking information. You should receive a response within 90 days.

Is American Express instant?

Yes, American Express completes payments in one to three seconds.

When was American Express founded?

American Express was founded in 1850, but its first credit card was released in 1958. The first gold card, designed for the travel needs of wealthy customers, was issued in 1966. The platinum card debuted in 1984.

Where is the mother company based?

The headquarters of American Express is located in Buffalo, New York.

Is Binance the only site allowing purchasing crypto with AMEX?

While this deposit method is less common than Visa or Mastercard, many crypto platforms accept American Express. These include Binance, Coinbase, Paxful, and Abra.

What are the alternatives to AMEX for crypto account funding?

If you’re looking to make deposits with credit cards, popular options like Visa are widely accepted. You can also make quick payments with cryptocurrencies like Solana.