Getting started in crypto can be confusing. 

Although it’s getting easier to buy Bitcoin, new investors often run into challenges with buying altcoins.

Heck, some Americans may not know whether it’s possible to buy altcoins with USD. 

While you may have issues transferring fiat into ultra-small-cap tokens, you can buy many prominent altcoins with USD. 

In fact, there are dozens of ways people can exchange cash for digital tokens. 

Whatever crypto project you’re into, the tips below should help you transfer fiat into your fave altcoin.  

How To Buy Altcoins With USD — The Easiest Ways To Digitize Your Dollars!

Can You Buy Altcoins With USD On A Crypto Exchange? 

The simplest & safest way to transfer USD into altcoins is through a trusted crypto exchange. 

Typically, these exchanges allow users to link a bank account and send fiat via ACH or wire transfer. 

Some centralized exchanges even allow users to pay for crypto with debit, credit, or PayPal. 

For more info on linking PayPal to your Coinbase account, be sure to read my article, “How To Buy XRP With PayPal.” 

However, keep in mind that these latter payment methods often come with higher transaction fees.

Whenever possible, I advise using ACH transfers as they’re usually the cheapest. 

Once you successfully deposit USD from your bank into your exchange, you should be able to pay for any listed altcoin.

Hit the “Buy” button near your preferred token and enter the amount of USD you want to spend. 

After confirming the transaction, you should see the crypto immediately appear in your exchange wallet. 

Yes, it’s that simple.

Many well-regarded crypto exchanges offer this feature, but here are a few of my top picks:

• Coinbase
• Crypto.com  
• Gemini
• Kraken 
• Binance

Each of these crypto exchanges has pros & cons, but they all have superb security standards and straightforward bank transfers. 

If you want to see how these exchanges stack up, I’d recommend checking out my “Comparisons” tab. 

FYI: If you don’t already have a Coinbase account, you should follow this link.

What About Buying Altcoins With USD In A Crypto Wallet?

Honestly, you don’t need an exchange account to buy crypto with USD.

Although I’d recommend working with a reputable exchange, it’s possible to buy tokens in a few crypto wallets. 

For instance, the highly-rated Trust Wallet now has a convenient “Buy” feature. 

After selecting the “Buy” button on Trust Wallet’s homepage, you can choose from numerous coins and tokens. 

Click the altcoin you want and enter the amount of fiat you want to spend on it.

As you’re making your purchase, you’ll see Trust Wallet uses third-party companies like MoonPay or Ramp to make these transactions. 

Before finalizing your Trust Wallet transaction, you’ll have to go through the third-party provider’s page. 

After entering your credit or debit card details, you should get a confirmation of your transaction. 

Refresh your Trust Wallet app until your altcoin appears. 

But it’s not just Trust Wallet that offers a “Buy Crypto” feature.

If you’re a CRO fan, then you probably know the Crypto.com DeFi wallet has a “Buy” function. 

Note: The Crypto.com DeFi wallet isn’t the same as the primary Crypto.com app. 

You don’t need a Crypto.com account to take advantage of the Crypto.com DeFi wallet’s features.

Just like Trust Wallet, the Crypto.com DeFi app is a non-custodial hot wallet. 

Anyone with a Crypto.com DeFi wallet could store, send, or buy crypto with a debit or credit card. 

Of course, since Crypto.com made this app, it has seamless integrations with the Crypto.com exchange. 

Lastly, Ledger is another popular wallet with a built-in “Buy” feature.

However, unlike Trust Wallet or the Crypto.com DeFi app, Ledger is a cold wallet. 

So, while you need to invest in a Ledger device, it will give you optimal security.

Cold storage wallets keep your private keys offline, which means your crypto is virtually hack-proof. 

Once you have a Ledger device and a Ledger app, you could use the “Buy/Sell” button to purchase altcoins with USD. 

Ledger works with third-party providers to transfer USD into crypto. Depending on which provider you use, you could use your bank account, debit card, or credit card to make this purchase. 

So, there are plenty of wallet providers that allow users to buy altcoins with USD.

However, please keep in mind these wallets tend to charge higher fees than many exchanges.

Always read the fine print before confirming a purchase on any wallet platform. 

Could You Buy Altcoins With USD On Crypto Lending Platforms?

Another way you could get your hands on altcoins is through a crypto lending service. 

For Americans, BlockFi is the best option. 

Since BlockFi is in New York, it’s one of the most well-regulated lending platforms in North America.

Also, BlockFi partners with Gemini. 

If you’ve read my review of “Gemini vs. Coinbase,” you know how seriously Gemini takes regulation.

BlockFi now allows customers to link a bank account and make ACH deposits. 

Once the funds appear in your BlockFi account, you can instantly swap them for various big-name altcoins.

As a bonus, BlockFi pays interest on any crypto you leave in your account. 

Of course, please remember there’s always a risk with entrusting crypto to third-party providers.

Nexo is another lending platform that allows users to buy altcoins with credit or debit cards. 

However, many countries—including the USA—can’t use Nexo’s Buy feature. 

Currently, only customers in select European or Asian countries can take advantage of “Nexo Buy.”

How Do You Buy Altcoins With USD On Paypal? 

You can buy a few altcoins with USD on PayPal, but I’d recommend most people get their tokens on a crypto exchange.

Why?

Because you don’t actually “own” your crypto on apps like PayPal.

Let me explain.

When you buy an altcoin on PayPal, you can’t take it off of PayPal’s app. 

The only things you could do with altcoins on PayPal is sell them for fiat or use them with vendors that accept PayPal.

That’s it. 

Also, there are only three altcoins on PayPal’s “Buy Crypto” feature:

• Ethereum
• Litecoin
• Bitcoin Cash

While PayPal claims it may let users withdraw tokens soon, nobody knows when it will release this function.

All that being said, you could purchase altcoins in PayPal’s “Crypto” section.

You should see this feature on the front of your PayPal homepage.

Use any fiat in your PayPal account, a debit card, or a bank account to make your transaction. 

By the way, you could also buy altcoins in PayPal-owned Venmo. 

However, Venmo doesn’t let you withdraw altcoins into a private wallet. 

Can You Buy Altcoins With USD At An ATM? 

Do you remember those Coinstar machines where people dumped tons of dimes, nickels, and quarters?

Well, since most people don’t carry physical coins anymore, many of these machines are offering Bitcoin!

And it’s not just Coinstar that’s getting into the crypto game.

Estimates suggest there are roughly 26,000 “Bitcoin ATMs” throughout the USA.

Like a regular ATM, you could transfer fiat currency for crypto at these devices.

There are even a few machines that offer popular altcoins like Ethereum.

If you want to give one of these machines a try, I’d recommend checking out the site Coin ATM Tracker. 

Enter your zip code to see what crypto ATMs are in your area.

Just be sure you already have a private wallet on your phone before heading out to this ATM. 

Please follow this link if you don’t already have a Trust Wallet app. 

Can You Buy Altcoins With USD On The Stock Market?

Currently, it’s impossible to get altcoins on the Stock Market. 

Although there are rumors of an Ethereum ETF, there’s no word when these shares could hit the NYSE.  

You could, however, get exposure to crypto through Bitcoin Futures ETFs or shares in Grayscale’s Bitcoin or Ethereum trusts.

Ethereum also trades futures contracts on the CME if you’re into that.

Lastly, if you’re a Robinhood fan, you can buy crypto directly on this app.

However, just like PayPal, you can’t take the coins you buy on Robinhood off the platform. 

Obviously, these investment options aren’t ideal if you want to self-custody your coins.

However, if you’re not interested in directly holding your crypto, it may be worthwhile researching crypto-related equities, ETFs, or Robinhood’s app. 

How Do You Buy Altcoins With USD On DeFi? 

If you want to dabble in DeFi, you’d better get comfortable with crypto. 

No matter what chain you’re using, you shouldn’t expect an easy fiat on-ramp. 

Indeed, you must buy a supported crypto or stablecoin elsewhere before trading on DeFi protocols. 

If you want the stability of USD on DeFi, you should buy a stablecoin like USDC, Dai, or USDP.

These coins have a 1:1 pairing with the US Dollar, so there’s no need to worry about price fluctuations. 

Typically, it’s not difficult to swap USD for a stablecoin on centralized crypto exchanges. 

You could then send your stablecoins to a private wallet and connect with your preferred DeFi protocol.

Just remember, you have to pay gas fees on whatever blockchain you’re using. 

For instance, if you’re on Ethereum, you always need to pay some Ether. 

If you’re on Solana, then you need some SOL.

You get the point. 

If you’d like to learn more about interacting with DeFi, I’d recommend reading my post, “How To Buy Floki Inu.” 

Even if you’re not interested in this memecoin, this post will help you understand how to interact with hot dApps like Pancake Swap and Uniswap. 

Is It Possible To Buy Altcoins With USD On P2P Platforms? 

Like the popular site LocalBitcoins, a few P2P platforms allow users to buy and sell altcoins. 

If you don’t mind the extra risk of working directly with a seller, this may be a good option.

However, I’d strongly recommend using well-reviewed sites like LocalCryptos. 

On LocalCryptos, you can find many sellers that offer large-cap altcoins like Ethereum, Litecoin, and Bitcoin Cash. 

Sometimes, you could pay with PayPal, but other times you’ll have to pay through a bank transfer.

It all depends on the seller’s stipulations. 

Please always double-check your seller’s reputation before agreeing to a trade. 

While it may be riskier than working with a centralized exchange, P2P sites like LocalCryptos are a viable way to transfer USD into altcoins. 

So, What’s The Best Way To Buy Altcoins With USD? 

There’s no “wrong” way to buy altcoins with USD. 

However, most people should stick with a high-quality centralized exchange. 

I know some customers may not like providing KYC, but centralized exchanges make it easy to convert your USD into dozens of altcoins. 

Just be sure the exchange you’re interested in has the altcoin you want. 

Typically, I recommend new American investors start on Coinbase because it’s the largest and the simplest to use. 

However, exchanges like Kraken, Gemini, and Crypto.com are also fantastic options.

No matter which exchange you use, you shouldn’t have an issue swapping your USD for many altcoins.