Can I Buy Bitcoin with Payoneer?

No, you cannot buy Bitcoin or crypto directly through Payoneer. The platform does not allow transfers to crypto exchanges, wallet funding, or other digital asset transactions. These restrictions apply to both personal and business accounts, and attempts will be blocked.

However, Payoneer issues a Mastercard debit card that can be used for business purchases wherever Mastercard is accepted, both online and in stores. If a regulated crypto exchange accepts Mastercard payments, you can use your Payoneer card to complete the purchase. 

For reliable access to digital assets, it is best to use licensed exchanges that support standard payment methods such as bank transfers, debit or credit cards, and peer-to-peer (P2P) trading.

How to Buy Crypto with Payoneer

The most effective way to buy crypto with Payoneer is by using the Payoneer Mastercard debit card on Bybit, one of the largest regulated exchanges serving over 160 countries.

Bybit lists more than 2,000 cryptocurrencies and provides deep liquidity across major trading pairs, making it a strong choice for investors seeking fast and secure access to digital assets.

Step-by-step guide to buying crypto with Payoneer on Bybit:

1. Create an Account: Sign up on Bybit and complete KYC verification to unlock deposits and trading.
2. Enter Amount and Currency: On the One-Click Buy page, choose your local currency (USD, EUR, GBP, etc.) and the amount you want to spend.
3. Select Payment Method: Choose debit card and enter your Payoneer Mastercard details.
4. Confirm Purchase: Review the order and confirm. The purchased crypto will be credited to your Bybit wallet instantly.

Payoneer’s Cryptocurrency Policies

A review of Payoneer’s Terms of Service shows no explicit rule banning bank transfers to cryptocurrency exchanges. In practice, though, our testing found transfers are consistently blocked, which is consistent with user reports on Reddit.

The Payoneer Mastercard debit card is different. We successfully used it on Bybit, where it was processed like any other Mastercard payment. This demonstrates that while Payoneer itself does not support crypto activity, its card can work on exchanges that accept Mastercard.

Whether these payments succeed depends on regulation. In the European Union, exchanges must comply with MiCA under ESMA oversight. In the United States, they need FinCEN Money Services Business (MSB) registration. In the United Kingdom, FCA authorization is required. 

Licensed exchanges that meet these standards and apply KYC and AML checks are the most likely to accept Payoneer card payments.

Best Alternative Exchanges for Buying Crypto with Payoneer

If Bybit isn’t available or doesn’t meet your needs, these regulated exchanges also support debit card payments with Payoneer:

• Binance: Lists 400+ cryptocurrencies with deep liquidity and fees starting at 0.1%. Accounts can be funded by debit or credit cards, bank transfers, or P2P trading. Its scale and security make it one of the most accessible platforms for Payoneer card users.
• Kraken: A long-established exchange offering 490+ assets, audited Proof of Reserves, and spot fees from 0.16% maker and 0.26% taker. It accepts debit card deposits and bank transfers, combining beginner-friendly tools with advanced features for professional traders.
• BloFin: A no-KYC platform with 450+ assets and futures up to 150x leverage. It maintains 1:1 proof-of-reserves with independent audits. Debit card payments are supported, with spot fees at 0.1% and futures priced at 0.02% maker and 0.06% taker.

About Payoneer

Payoneer is a global payments company that helps businesses and freelancers move money across borders. It offers multi-currency accounts, international bank transfers, working capital loans, and a Mastercard debit card for online and in-store spending. 

More than 5 million customers use Payoneer to get paid by clients, marketplaces, and platforms worldwide, making it a key tool for e-commerce sellers and service providers who need fast, reliable access to global payments.

Final Thoughts

Payoneer cannot be used for direct crypto transfers, but its Mastercard debit card works on regulated exchanges that accept card payments. 

Platforms like Bybit, Binance, and Kraken provide deep liquidity, strong compliance, and reliable settlement, making them suitable options for Payoneer users.

To ensure smooth transactions and fund safety, always choose licensed exchanges that follow KYC and AML standards.