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Full List of Travel Insurance Benefits for the Amex Platinum Card [2024]

Christine Krzyszton

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Amex Platinum Card Overview

Standard car rental coverage, premium car rental protection coverage, trip cancellation and trip interruption insurance, trip delay reimbursement, baggage insurance, emergency medical transport and evacuation — complimentary coverages, additional medical assistance, other hotline services, filing a claim, final thoughts.

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Frequent travelers who are interested in premium travel benefits and solid reward-earning opportunities gravitate to The Platinum Card ® from American Express . The card, as well as The Business Platinum Card ® from American Express , has been the go-to card for meeting travelers’ earning, redemption, and benefits needs.

We frequently cover Membership Rewards points-earning opportunities , as well as a multitude of ways to maximize the redemption options . We’ve even done a deep dive into getting the most from statement credits offered by Amex cards.

Next up in our collection of articles focusing on the valuable perks that come with the Amex Platinum card is the card’s travel insurance benefits. Insurance can be inherently confusing in general and the insurance coverages that come with credit cards can be equally so.

Fortunately, even a quick overview will give you some insight as to the insurance coverages you can expect on the Amex Platinum card. So, right here and now, we’re stepping up to deliver just that.

Let’s take a look at exactly which insurances come with the card, how these benefits can provide a level of peace of mind, and find out what situations might trigger the coverage to provide economic value.

It’s important to have a little background on the card to put its coverage into context. Here are important card details, including the current welcome bonus and annual fee.

The Amex Platinum reigns supreme for luxury travel, offering the best airport lounge access plus generous statement credits, and complimentary elite status.

When it comes to cards that offer top-notch benefits, you’d be hard-pressed to find a better card out there than The Platinum Card ® from American Express.

Make no mistake — the Amex Platinum card  is a premium card with a premium price tag. With amazing benefits like best-in-class airport lounge access , hotel elite status, and tremendous value in annual statement credits, it can easily prove to be one of the most lucrative cards in your wallet year after year.

• The best airport lounge access out of any card (by far) — enjoy access to over 1,400 worldwide lounges, including the luxurious Amex Centurion Lounges, Priority Pass lounges, Plaza Premium Lounges, and many more!
• 5x points per dollar spent on flights purchased directly with the airline or with AmexTravel.com (up to $500,000 per year)
• $695 annual fee ( rates and fees )
• Airline credit does not cover airfare (only incidentals like checked bags)
• Earn 80,000 Membership Rewards ® Points after you spend $8,000 on purchases on your new Card in your first 6 months of Card Membership. Apply and select your preferred metal Card design: classic Platinum Card ® , Platinum x Kehinde Wiley, or Platinum x Julie Mehretu.
• Earn 5X Membership Rewards ® Points for flights booked directly with airlines or with American Express Travel up to $500,000 on these purchases per calendar year and earn 5X Membership Rewards ® Points on prepaid hotels booked with American Express Travel.
• $200 Hotel Credit: Get up to $200 back in statement credits each year on prepaid Fine Hotels + Resorts ® or The Hotel Collection bookings with American Express Travel when you pay with your Platinum Card ® . The Hotel Collection requires a minimum two-night stay.
• $240 Digital Entertainment Credit: Get up to $20 back in statement credits each month on eligible purchases made with your Platinum Card ® on one or more of the following: Disney+, a Disney Bundle, ESPN+, Hulu, The New York Times, Peacock, and The Wall Street Journal. Enrollment required.
• $155 Walmart+ Credit: Cover the cost of a $12.95 monthly Walmart+ membership (subject to auto-renewal) with a statement credit after you pay for Walmart+ each month with your Platinum Card ® . Cost includes $12.95 plus applicable local sales tax. Plus Up Benefits are excluded.
• $200 Airline Fee Credit: Select one qualifying airline and then receive up to $200 in statement credits per calendar year when incidental fees are charged by the airline to your Platinum Card ® .
• $200 Uber Cash: Enjoy Uber VIP status and up to $200 in Uber savings on rides or eats orders in the US annually. Uber Cash and Uber VIP status is available to Basic Card Member only. Terms Apply.
• $300 Equinox Credit: Get up to $300 back in statement credits per calendar year on an Equinox membership, or an Equinox club membership (subject to auto-renewal) when you pay with your Platinum Card ® . Enrollment required. Visit https://platinum.equinox.com/ to enroll.
• $189 CLEAR ® Plus Credit: Breeze through security with CLEAR Plus at 100+ airports, stadiums, and entertainment venues nationwide and get up to $189 back per calendar year on your Membership (subject to auto-renewal) when you use your Platinum Card ® . Learn more.
• $100 Global Entry Credit: Receive either a $100 statement credit every 4 years for a Global Entry application fee or a statement credit up to $85 every 4.5 years for a TSA PreCheck ® (through a TSA official enrollment provider) application fee, when charged to your Platinum Card ® . Card Members approved for Global Entry will also receive access to TSA PreCheck at no additional cost.
• Shop Saks with Platinum: Get up to $100 in statement credits annually for purchases in Saks Fifth Avenue stores or at saks.com on your Platinum Card ® . That's up to $50 in statement credits semi-annually. Enrollment required.
• $300 SoulCycle At-Home Bike Credit: Get a $300 statement credit for the purchase of a SoulCycle at-home bike with your Platinum Card ® . An Equinox+ subscription is required to purchase a SoulCycle at-home bike and access SoulCycle content. Must charge full price of bike in one transaction. Shipping available in the contiguous U.S. only. Enrollment Required.
• Unlock access to exclusive reservations and special dining experiences with Global Dining Access by Resy when you add your Platinum Card ® to your Resy profile.
• $695 annual fee.
• Terms Apply.
• APR: See Pay Over Time APR
• Foreign Transaction Fees: None
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American Express Membership Rewards

Hot Tip:  Check to see if you’re eligible for a welcome bonus offer of up to 125k (or 150k) points with the Amex Platinum. The current public offer is 80,000 points. (This targeted offer was independently researched and may not be available to all applicants.)

Car Rental Loss and Damage Insurance

The Amex Platinum card comes with complimentary standard car rental insurance that provides secondary coverage when using your card to reserve and pay for your entire rental car contract. You also have the option to purchase premium primary car rental coverage .

For either coverage to be valid, you must decline the rental car agency’s LDW (loss damage waiver) or CDW (collision damage waiver) coverage when renting the vehicle.

Here’s an overview of how both of these coverages work:

Secondary (standard) coverage means that you must first file a claim with any other applicable insurance you might have before the card coverage applies.

You can expect to receive excess secondary coverage for these losses:

• Damage to and theft of the vehicle
• Personal property up to $1,000 per person/$2,000 per accident
• Accidental injury up to $5,000 per claimant
• Accidental death/dismemberment up to $300,000

This is just a snapshot of the standard secondary car rental coverage; several terms and conditions apply. You should access the official guide to benefits or call your benefits administrator for specific information.

One of the real car rental insurance perks of holding the Amex Platinum card is having access to Premium Car Rental Protection coverage for just 1 low fee that covers the entire rental period, not a per-day charge like the rental agency charges.

Although there are some credit cards with primary rental car insurance , the American Express Premium Car Rental Protection coverage, in some circumstances, can provide equal or better coverage and elevated peace of mind. Terms and conditions apply.

Bottom Line: Consider Amex Premium Car Rental Protection if you don’t have a credit card that provides primary car rental insurance. Additionally, if you are renting an expensive vehicle that exceeds your card’s limit of coverage or the maximum length of the rental period on your other card is limited to less than 42 days, the Amex Premium Car Rental Protection could also be a prudent choice. 

Trip cancellation and trip interruption insurance are designed to cover unexpected, unforeseen events that may cause you to have to cancel your trip or that cause a disruption in a trip you’re already started.

To be eligible for coverage, purchase your entire round-trip common carrier ticket with your Amex Platinum card.

American Express has a broad definition of who is covered under this benefit. Eligible travelers can include the cardholder, traveling companion, family member of the eligible traveler, or family member of the traveling companion.

Examples of events that could be covered include the following:

• Bodily Injury or Illness — If you, a traveling companion, or a family member of either, experience an accidental injury or become ill, causing you to cancel your trip, you may have coverage
• Bad Weather — If extreme weather causes your trip to be canceled or disrupted, there could be coverage
• Change in Military Orders —Applies to cardmember and/or spouse (spouse definition includes domestic partner)
• Terrorist action or hijacking
• Jury duty or other qualifying legal obligation
• Uninhabitable dwelling of either the cardmember or traveling companion
• Quarantine imposed by a physician for health reasons

You can expect coverage of up to $10,000 per trip , and a maximum limit of $20,000 per card per 12-month period.

Terms and conditions apply.

Bottom Line: While the trip cancellation/trip interruption benefit covers specifically stated reasons for trip cancellation/interruption, there is no coverage for voluntary cancellations, disruptions due to known events, or for preexisting conditions. Additional terms and conditions can be found in your guide to benefits or call the benefits administrator prior to your trip.

Experiencing a trip delay is inevitable so having coverage for added expenses as a result of that delay could be a welcome economic benefit. To qualify for trip delay coverage, just pay for the full amount of your common carrier round-trip transportation ticket with your Amex Platinum card.

The delay must be for more than 6 hours for you to be eligible for reimbursement for necessary incidentals, meals, and lodging.

Coverage limits are $500 per covered trip and a maximum of up to 2 covered trips in each consecutive 12-month period. Coverage is secondary to other coverage that applies and does not include expenses that are reimbursed by the airline or other entities. Additional terms and conditions also apply.

Losing a checked bag used to be a very common occurrence. With new technology and tracking mechanisms, however, incidents have declined, but they still happen. If you do happen to experience lost bags, however, you can count on the baggage insurance found on the Amex Platinum card.

To activate the coverage , simply pay for your common-carrier fare with your card and/or Membership Rewards points.

Here’s the coverage you can expect for lost luggage:

• Checked Bags — Up to $2,000 per covered person, per trip
• Carry-on Bags — Up to $3,000 per covered person, per trip
• Specialty High-value Items — Up to $1,000 per person, per covered trip ($2,000 for New York residents, maximum $10,000 per trip)
• Combined Limit — The limit for all baggage, including high-risk items, is $3,000 per covered person, per single trip

Checked baggage is covered only while traveling on a common carrier . Carry-on baggage is additionally covered while traveling to , from , and when waiting at the carrier terminal.

Note that the coverage on the card is secondary to any other insurance or reimbursement you might receive from the airline. There is no coverage for delayed baggage , but several other credit cards do offer this coverage .

Premium Global Assist Hotline

While technically not insurance coverage, having access to help when you’re traveling, 24/7, is sure to provide additional peace of mind. The Amex Platinum card offers a premium version of a dedicated helpline that serves as a welcome resource should things go wrong during your travels.

Here are the types of assistance you can expect from the service:

One of the premium services offered on the card is complimentary emergency medical transport or evacuation . If you or a covered family member becomes injured or ill during your travels, you could receive emergency medical transportation or evacuation , if necessary.

You can expect to receive the following services without charge when arranged via the hotline:

• Emergency Transport or Evacuation — Transport to the nearest medical facility or transport from an inadequate medical facility
• Transport of Family Member — Transport may be covered for an adult member to be by the bedside of the cardmember or for the cardmember’s minor child (who had been traveling alone with the cardmember) to be transported back to the U.S.
• Transport of Remains — Amex will pay for the transport of remains back to the U.S.
• Post-Evacuation Assistance — If you’re evacuated and your return ticket back to the U.S. has become invalid, Amex will arrange and pay for transportation back to the U.S.

Please note that the Premium Global Assist Hotline does not cover any medical expenses or emergency transportation services arranged outside of the hotline. Several terms and conditions apply to these coverages.

In addition to the complimentary coverages offered by the hotline, you’ll find these additional medical services:

• Medical Referrals — Receive help finding an English-speaking doctor, a hospital, or other needed medical services
• Prescription Replacement Assistance — Get help with replacing lost or forgotten medications

There is no charge for the referral service but cardmembers are responsible for actual services received from the provider.

• Passport/Visa Assistance — Whether you need help replacing a passport or have a need to contact the U.S. consulate, the hotline can assist
• Emergency Translation Services — Receive over-the-phone services or written language translation assistance
• Legal Referrals — Should you need legal services during your trip, the hotline can help you find local bail bond services that accept Amex or refer you to other legal personnel
• Financial Assistance — The hotline can help you arrange cash wire services, help you check out of your hotel remotely, or assist with lost card situations
• Emergency Message Relay — In the event of an emergency, the hotline can send a message to a family member, friend, or another recipient on your behalf
• Lost Items — Should you lose an item, your baggage gets lost, or other missing possession, the hotline can help track it down
• Trip Planning Services — Access information such as weather, currency exchange rates, passport/visa requirements, customs information, travel warnings, and more

Bottom Line: The Amex Platinum card comes with complimentary emergency transportation and evacuation services with no stated limit. Additional medical, legal, and travel service referrals are also complimentary, but other than the emergency medical transportation and evacuation, services rendered must be paid for by the cardholder. 

As with any insurance claim, you’ll need to report any event as soon as possible, provide supporting documentation, and follow up after the claim has been filed.

You could be expected to submit any, or all, of the following:

• Copies of your common carrier ticket
• Copies of your credit card statement showing the expenses
• Proof of the loss (i.e. a copy of physician’s quarantine order, military orders, etc.)
• Copy of the travel supplier’s cancellation policy
• Any other supporting documentation requested by the claims administrator

Claims must be reported within 60 days but it is best to do it as soon as possible. Once you report the claim, you’ll receive instructions for completing the next steps in the process.

Hot Tip: Be sure to take photos and videos, keep receipts, secure any applicable police report, and hold on to other documentation that might be needed to support your claim. Keep in mind that supporting information can be difficult to obtain after the fact but may be readily secured at the time of the claim. 

While the insurance that comes with the Amex Platinum card won’t take the place of a comprehensive travel insurance policy , you’ll find value in several of the benefits.

Utilizing Premium Car Rental Protection, trip cancellation/interruption, trip delay, and complimentary emergency medical transport or evacuation could save you more than you could imagine in certain circumstances.

Additionally, knowing the coverages you have in advance has tremendous value. You’ll be armed with information to make educated decisions that can protect each aspect of your trip and be better prepared for how you might handle a covered incident during your travels. If you’re looking for other card options, see our article on the best credit cards for travel insurance .

All information and content provided by Upgraded Points is intended as general information and for educational purposes only, and should not be interpreted as medical advice or legal advice. For more information, see our  Medical & Legal Disclaimers .

For the car rental collision damage coverage benefit of The Platinum Card ® from American Express, car rental loss and damage insurance can provide coverage up to $75,000 for theft of or damage to most rental vehicles when you use your eligible card to reserve and pay for the entire eligible vehicle rental and decline the collision damage waiver or similar option offered by the commercial car rental company. This product provides secondary coverage and does not include liability coverage. Not all vehicle types or rentals are covered. Geographic restrictions apply. Eligibility and benefit level varies by card. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company. Car rental loss or damage coverage is offered through American Express Travel Related Services Company, Inc. For the trip cancellation and interruption insurance coverage benefit of The Platinum Card ® from American Express, the maximum benefit amount for trip cancellation and interruption insurance is $10,000 per covered trip and $20,000 per eligible card per 12 consecutive month period. Eligibility and benefit level varies by card. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company. For the trip delay insurance benefits of The Platinum Card ® from American Express, up to $500 per covered trip that is delayed for more than 6 hours; and 2 claims per eligible card per 12 consecutive month period. Eligibility and benefit level varies by card. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company. For the baggage insurance plan benefit of The Platinum Card ® from American Express, baggage insurance plan coverage can be in effect for covered persons for eligible lost, damaged, or stolen baggage during their travel on a common carrier vehicle (e.g. plane, train, ship, or bus) when the entire fare for a ticket for the trip (one-way or round-trip) is charged to an eligible card. Coverage can be provided for up to $2,000 for checked baggage and up to a combined maximum of $3,000 for checked and carry-on baggage, in excess of coverage provided by the common carrier. The coverage is also subject to a $3,000 aggregate limit per covered trip. For New York State residents, there is a $2,000 per bag/suitcase limit for each covered person with a $10,000 aggregate maximum for all covered persons per covered trip. Eligibility and benefit level varies by card. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company. For the Premium Global Assist Hotline benefit of The Platinum Card ® from American Express, you can rely on the Global Assist Hotline 24 hours a day / 7 days a week for medical, legal, financial or other select emergency coordination and assistance services while traveling more than 100 miles away from your home. Plus, we may provide emergency medical transportation assistance and related services. Third-party service costs may be your responsibility. Eligibility and benefit level varies by card. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for more details. If approved and coordinated by Premium Global Assist Hotline, emergency medical transportation assistance may be provided at no cost. In any other circumstance, Card members may be responsible for the costs charged by third-party service providers. 

For rates and fees of The Platinum Card ® from American Express, click here . For rates and fees of The Business Platinum Card ® from American Express, click here .

Frequently Asked Questions

Is the amex platinum card travel insurance any good.

While the insurance that comes on your Amex Platinum card does not replace a comprehensive travel insurance policy, there is value in the coverages that come complimentary on the card.

Benefits such as trip interruption/cancellation/delay insurance and Amex Premium Car Rental Protection can provide economic value by saving you money should something go wrong during your travels.

Having access to the Premium Global Assist Hotline and complimentary emergency medical transport or evacuation could render peace of mind knowing you have the coverage should you need it.

Does the Amex Platinum card cover flight cancellations?

The Amex Platinum card comes with trip cancellation, trip interruption, and trip delay insurance that can cover flight cancellations for only the specific (limited) reasons listed in the terms and conditions.

As with most insurance, the coverage that comes on your card is not meant to cover voluntary flight cancellations.

For these types of cancellations, you would need to purchase Cancel for Any Reason Insurance , which can be added to some comprehensive travel insurance policies.

Does the Amex Platinum card come with primary car rental insurance?

No. The Amex Platinum card comes with complimentary standard secondary car rental insurance, which means you must first file a claim with any other insurance that may apply before the card coverage is valid.

However, the card does offer a unique benefit that allows you to purchase premium primary car rental insurance for 1 low fee that covers the entire rental period.

This coverage is valid for rental periods up to 42 days in length and costs $12.25 to $24.95 per period, depending on the state in which you reside and the coverage limit you select.

Does the Amex Platinum have delayed baggage insurance?

While the Amex Platinum card comes with lost, stolen, or damaged luggage coverage, it does not offer a delayed baggage benefit.

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About Christine Krzyszton

Christine ran her own business developing and managing insurance and financial services. This stoked a passion for points and miles and she now has over 2 dozen credit cards and creates in-depth, detailed content for UP.

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The Guide to AmEx Platinum Travel Insurance

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Table of Contents

When does the AmEx Platinum travel insurance kick in?

Amex platinum travel insurance benefits and limits, how to make an amex travel insurance claim, what if the card’s insurance benefits are insufficient, the platinum card® from american express travel insurance, recapped.

Travel insurance can provide peace of mind when you’re away from home, especially when you’ve spent significant money on your vacation. Although you can choose to buy a separate travel insurance policy, not everyone wants or needs to do so.

Many travel credit cards offer complimentary insurance for a variety of occurrences. The Platinum Card® from American Express offers travel insurance with a suite of benefits for eligible travelers, including coverage for trip interruption, rental car damage and lost luggage.

Let’s take a look at travel insurance on The Platinum Card® from American Express , its limits and the benefits it provides.

» Learn more: What is travel insurance?

So, does The Platinum Card® from American Express have travel insurance? The short answer to this is yes, but you’ll need to meet specific requirements for it to apply.

To get coverage from your card, you’ll need to use it to pay for your trip in its entirety. This is true whether you’re looking to utilize the trip insurance or the rental car insurance — you must pay for the full cost with The Platinum Card® from American Express .

Be aware of coverage limitations if you’re traveling using points or miles. While it’s possible to receive benefits when using your card to pay the taxes and fees on a reward redemption, coverage may not always apply.

You may still be covered for trip interruption, delay, and cancellation insurance when using points or frequent flyer miles.

However, rental car and baggage insurance only apply when you’ve used your card to pay for the full cost of whatever you’re buying — no points allowed. The exception is if you redeem American Express Membership Rewards to pay for some or all of the booking.

» Learn more: How does credit card travel insurance work?

We’ve included a breakdown of all the insurance benefits and other travel protections provided by The Platinum Card® from American Express .

Trip cancellation protection

The trip cancellation insurance you’ll receive will pay for any nonrefundable losses you incur due to a covered event.

Given the current climate, you may also be wondering: does The Platinum Card® from American Express travel insurance cover COVID? It can, depending on the reason you need to cancel. Covered events include quarantine imposed by a physician or illness for you, your family members or a traveling companion.

Other eligible events include a change in military orders, inclement weather or jury duty.

If you need to cancel your trip, AmEx will provide up to $10,000 per trip and a maximum of $20,000 every 12 months. Terms apply.

» Learn more: The guide to American Express travel insurance

Trip interruption coverage

As with trip cancellation protection, trip interruption insurance will reimburse you for nonrefundable losses by a covered event.

If your trip is interrupted, American Express will cover you for prepaid land, air and sea travel bookings you’ve missed. They’ll also pay for the cost of an economy-class ticket on the most direct route to rejoin your covered trip (or take you home).

The maximum benefit you’ll receive is $10,000 per trip and up to $20,000 every 12 months. Terms apply.

Trip delay insurance

As it sounds, trip delay insurance will reimburse you for expenses incurred when your trip doesn’t go as scheduled. In the case of The Platinum Card® from American Express , coverage kicks in after you’ve been delayed by at least six hours for a covered reason.

Covered purchases may include food, toiletries, lodging, medication and other personal use items. You’ll be reimbursed for up to $500 on a covered trip and can make two claims within a 12-month period. Terms apply.

Rental car insurance

The Platinum Card® from American Express provides secondary rental car insurance . This means it’ll kick in after other claims — like those made to your personal insurance — have been paid. To activate coverage, you’ll need to decline the insurance offered by the rental car company.

AmEx will provide up to $75,000 due to damage or theft of the rental vehicle, but be aware that the policy doesn’t provide liability insurance.

It’ll also give you up to $1,000 per person (max of $2,000) for personal property lost in the incident and up to $5,000 for accidental injury. Finally, you’ll receive up to $300,000 for accidental death or dismemberment, though the rates will vary depending on the severity of your injuries.

This rental car insurance is valid worldwide with a few notable exceptions, including Australia, Italy and New Zealand. Terms apply.

» Learn more: Credit cards that provide travel insurance

Baggage coverage

Cardholders and their families are eligible for baggage insurance provided they’ve paid for the fare using The Platinum Card® from American Express . This benefit is only for lost baggage; delayed luggage is not protected.

Coverage limits vary depending on whether you’ve checked your bag or carried it on:

Checked bags: Up to $2,000 per person.

Carry-on: Up to $3,000 per person.

Note also that checked baggage is only covered when you’re actually traveling with a common carrier. Meanwhile, carry-on luggage is also covered when traveling to and from or waiting at the terminal.

There are also specific limits for high-risk items such as jewelry and electronic equipment. For these items, you’ll receive a maximum of $1,000 per person per trip. Terms apply.

» Learn more: Baggage insurance explained

Premium Global Assist

What else does The Platinum Card® from American Express travel insurance cover? Although this last benefit isn’t technically a type of travel insurance, it’s worth including as it can offer help while you travel.

AmEx’s Premium Global Assist hotline is a 24/7 service that can assist you in various ways, such as helping you get a new passport, finding translation services and even arranging for emergency medical evacuation.

Although using Premium Global Assist is free, the services that you may end up using are not necessarily covered by AmEx.

There are exceptions to this — if you need repatriation of mortal remains, emergency medical evacuation or if a child under 16 is left without care, AmEx will provide aid at no additional cost. Terms apply.

To file a claim, you’ll need to contact your benefit administrator. The phone number and timeframe will vary according to the type of insurance you’re using:

Trip cancellation, interruption or delay insurance: Within 60 days, call 844-933-0648.

Baggage insurance: Within 30 days, call 800-228-6855 or online .

Rental car insurance: Within 30 days, call 800-338-1670 or online .

» Learn more: The guide to AmEx Platinum rental car benefits

If The Platinum Card® from American Express travel insurance doesn’t seem like it’ll be enough for your trip, or if its coverage doesn’t include features that you’d like to have, consider purchasing a separate travel insurance policy before you travel.

Several companies allow you to compare various policies for any vacation and modify inclusions as you shop.

» Learn more: How much is travel insurance?

The travel insurance offered by The Platinum Card® from American Express includes some pretty generous benefits for travelers, especially since it’s complimentary (the $695 annual fee notwithstanding). Terms apply.

If you want to take advantage of this insurance, pay for your trip using your AmEx card and double-check any other stated requirements before heading out to ensure coverage.

How to maximize your rewards

You want a travel credit card that prioritizes what’s important to you. Here are our picks for the best travel credit cards of 2024 , including those best for:

Flexibility, point transfers and a large bonus: Chase Sapphire Preferred® Card

No annual fee: Bank of America® Travel Rewards credit card

Flat-rate travel rewards: Capital One Venture Rewards Credit Card

Bonus travel rewards and high-end perks: Chase Sapphire Reserve®

Luxury perks: The Platinum Card® from American Express

Business travelers: Ink Business Preferred® Credit Card

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How does the Amex Platinum’s travel insurance work?

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American Express credit cards have emerged as one of the top card travel insurance options. After years of neglecting this aspect of their card benefits, they’re extremely competitive among other bank cards — particularly The Platinum Card® from American Express.

The Amex Platinum receives extra insurance less premium cards simply don’t have. Yes, it’s got a massive 100,000 point bonus after spending $6,000 in the first six months of account opening (read our post on common mistakes people make with Amex points to see how valuable they can be), but that’s a short-lived aspect of the card.

Let’s take a look at the Amex Platinum travel insurance — and learn how you can leverage the card for coverage on airfare, baggage, rental cars, and more. You can read our Amex Platinum review for a more well-rounded look at the card’s benefits.

Credit card travel protection benefits

When you pay for airfare with the best travel insurance credit cards , you can get automatic travel protection benefits at no extra charge. Chase and Amex offer fantastic features (while Citibank travel insurance is nonexistent, by the way).

Depending on the card, sometimes just paying the taxes and fees on an award flight will get you coverage. But the coverage you get can vary significantly by card. Enrollment required for select benefits.

Note: Amex stipulates that you must book with a “Common Carrier” to qualify for coverage. That just means you’ve booked an airline, a cruise ship, etc. You won’t be reimbursed if you book an under-the-table commute across Lake Okeechobee on your cousin’s fan boat.

Amex cards eligible for travel insurance

The best American Express cards are eligible for travel insurance. Here’s a table breaking down the most popular cards with the best coverage.

• The Platinum Card® from American Express
• The Business Platinum Card® from American Express (similar name but quite different from the regular Platinum card — read our Amex Business Platinum review )
• Delta SkyMiles® Reserve American Express Card
• Delta SkyMiles® Reserve Business American Express Card
• Marriott Bonvoy Brilliant™ American Express® Card
• Hilton Honors American Express Aspire Card

The information for the Hilton Aspire card has been collected independently by Million Mile Secrets. The card details on this page have not been reviewed or provided by the card issuer.

Here’s a list of the most popular cards with benefits a tier below the most premium cards:

• American Express® Gold Card
• American Express® Business Gold Card
• American Express® Green Card
• Business Green Rewards
• Delta SkyMiles® Platinum American Express Card
• Delta SkyMiles® Platinum Business American Express Card
• The Blue Business® Plus Credit Card from American Express

These cards don’t come with trip cancellation or interruption, and they have lower reimbursement caps for coverages like trip delay and baggage protection.

The Amex Platinum benefits are top of the food chain. Let’s get into the nitty-gritty.

Trip Interruption and Cancellation Insurance

With Amex Platinum Trip Cancellation Insurance, you’re are eligible for up to $10,000 per trip (with a maximum payout of $20,000 per 12-month period) for flight cancellations occurring due to a covered reason (such as inclement weather, jury duty, injury, illness, etc.). You must pay the full ticket with your card (award flight taxes and fees and Pay With Points tickets also eligible).

Trip Delay Insurance

If your trip is delayed more than six hours for a covered reason, you’ll get up to $500 for reasonable expenses (think meals, lodging, toiletries, etc.). Again, you must purchase your trip in full with your Amex Platinum — and paying taxes & fees on award flights or Pay With Points qualifies you for coverage.

Here are some examples of eligible reasons for which Amex will compensate you:

• Equipment failure (the plane wheels fall off, the engine won’t start, etc.)
• Inclement weather
• You lose your travel documents
• Your flight is hijacked

Note that this insurance is valid for round-trip flights only . However, the Amex Platinum benefits guide states:

The period of round-trip travel may consist of roundtrip, one-way, or combinations of roundtrip and one-way tickets with Common Carrier(s).

Rental Car Insurance

The Amex Platinum comes with secondary rental car insurance. That basically means that if your rental car is damaged or stolen, it’ll cover you for any expenses that remain after your personal insurance pays for everything that it covers. Or, if you purchased rental car insurance from the rental agency, Amex Platinum insurance will scoop up the remaining costs that it won’t cover.

However , you can enroll for free in the American Express Premium Car Rental Protection program , and that does offer primary rental car insurance. You’ll pay ~$25 (~$18 for California residents, ~$16 for Florida residents) per rental for up to 42 consecutive rental days (30 consecutive rental days for Washington State cardholders). If you’re renting for a few days, this is definitely worth purchasing.

Unless you’ve got any one of the best credit cards for car rentals . These come with primary rental car insurance for free.

Lost, Damaged, and Stolen Baggage Insurance

The Amex Platinum comes with various coverages in the event that your baggage is lost, stolen, or damaged by the common carrier:

• Up to $2,000 per person per trip for loss of checked baggage
• Up to $3,000 per person per trip for loss of carry-on baggage
• Up to $250 per person per trip for loss of high risk items (i.e. jewelry & electronics)
• Cap of $10,000 per trip for everyone on your itinerary.

High-risk items such as jewelry, electronic equipment, sports equipment, etc., are capped at $1,000 in total coverage. For things like cash, medical items, and contact lenses, you won’t be covered at all.

Delayed Baggage Insurance

Some cards will reimburse you in the event that your checked bags are delayed by more than six hours. If you arrive at your destination and your stuff doesn’t show up, you can go to the store and buy things to tide you over until your bag finally arrives (toiletries, clothes, and the like).

American Express completely ignores this fantastic feature. The Amex Platinum gives you none of this coverage. But read our post on the best credit card for baggage delay coverage to find a good one. This has saved me $500+ on a single trip in the past.

Premium Global Assist

 When you are at least 100 miles from home, you can call the Amex Platinum Premium Global Assist to help solve pretty much any hardship. For example:

• You can call for help finding a lost item — including luggage. Amex will pester the airline until you are satisfied
• You can tell Amex to contact a friend or family member during your trip if you can’t reach them yourself
• If you lose your wallet, you can tell Amex to cancel all your credit cards
• If you need emergency evacuation, Amex will arrange everything

Note that Amex may be able to cover your emergency expenses and transportation if you’re in an area with sub-par treatment.

Plus, if you’re in the trenches of your trip planning, they can help you iron out the tedious details. They’ll help you understand travel etiquette in the country you’re visiting, if there are any shots that are required/recommended, and tell you if you need any special visas for your trip. 

There are plenty of other things they can do, too. Their number is 1-800-345-2639.

FAQ: Things to consider with trip protection benefits

Because travel coverage is not the same across all cards, you’ll want to use the card that is best for your personal situation. Here are a few things that might factor into which card you use to pay for travel.

Will your airline elite status help if there’s a flight delay or cancellation?

Having airline elite status comes with perks that can help if you pay with a card like the Amex Platinum, which doesn’t have trip delay or cancellation insurance.

For example, some airlines offer passengers with elite status free same-day standby flights, so if your flight is delayed, you could switch to another flight without having to worry about filing a claim for a trip delay.

Similarly, if your flight is canceled, having elite status might give you a higher priority to get a seat on the next available flight. But consider if you’re traveling to a remote destination or region with unpredictable weather that it’s wise to pay with best travel insurance credit cards . If all flights are delayed or canceled, you could end up paying out of pocket for hotel rooms and necessary expenses. Having a card that gets you reimbursed is a great benefit.

Did you book an expensive cruise or tour?

Having trip interruption or cancellation insurance from a credit card can come in handy should you have to cancel an expensive trip for an eligible reason. For example, let’s say you pay for a family cruise to Alaska, but are unable to go due to a last-minute illness. If you paid with the Amex Platinum, it’s possible to get a refund for your trip up to a certain limit.

I recommend reading the terms and conditions of your card’s trip protection benefits before paying for a vacation. It’s important to know who is covered, the claims process, and the reasons you’re eligible to get a refund.

Do you have third-party travel insurance?

Many purchase travel insurance through a third-party company to cover trip delays, cancellations, and other unforeseen events. You can often bundle these coverages with a supplemental medical travel policy, which can be helpful if you’re traveling outside the U.S.

There are great resources on the web to research travel insurance policies . Keep in mind, travel insurance plans and coverage amounts can differ widely — but purchasing a third-party plan can be helpful for folks who don’t pay for a trip with a card that comes with these benefits.

Bottom line

When you pay for a trip with Amex Platinum, you’ll receive trip delay insurance, as well as trip cancellation and interruption. These insurances make the card even more enticing to use for your travel, as you’ll earn 5x Amex Membership Rewards points on airfare purchased directly from airlines or from Amex Travel . Read our post on the best ways to use Amex points to see why that’s such a big deal.

This isn’t even counting the other great perks that come with the card, like Amex purchase protection and a gigantic welcome bonus worth potentially thousands in travel. Line this card’s virtues against the wall and it’s easy to see why the American Express Platinu m card is worth it .

Have you used any of the Amex Platinum travel insurance? I’d love to hear about your experience in the comments. And subscribe to our newsletter for more credit card travel techniques.

For rates and fees of the Amex Platinum, click here.

Joseph Hostetler

Joseph Hostetler is a full-time writer for Million Mile Secrets, covering miles and points tips and tricks, as well as helpful travel-related news and deals. He has also authored and edited for The Points Guy.

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Comparing travel protections with the Chase Sapphire Reserve and Amex Platinum

The Chase Sapphire Reserve and The Platinum Card® from American Express are two of the most popular travel rewards cards . After all, both cards offer valuable transferable rewards , lounge access and the ability to receive elite-like perks when booking hotels through Amex's Fine Hotels & Resorts program and Chase's Luxury Hotel & Resort Collection .

Like many of the top rewards cards , the Chase Sapphire Reserve and Amex Platinum Card also provide travel insurance when you use your card to book travel. In particular, these two premium travel rewards cards offer an excellent combination of trip insurance and bonus earnings on select travel purchases. So, in this guide, let's compare the travel insurance provided by these two cards.

Overview of the travel insurance provided by these cards

* Eligibility and benefit level varies by card. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for details. Policies are underwritten by New Hampshire Insurance Company, an AIG Company. ^ Eligibility and benefit level varies by card. Not all vehicle types or rentals are covered, and geographic restrictions apply. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for details. Policies are underwritten by AMEX Assurance Company. Coverage is offered through American Express Travel Related Services Company, Inc. # Eligibility and benefit level varies by card. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for details. If approved and coordinated by Premium Global Assist Hotline, emergency medical transportation assistance may be provided at no cost. In any other circumstance, cardmembers are responsible for the costs charged by third-party service providers. † Eligibility and benefit level varies by card. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for details. Policies are underwritten by AMEX Assurance Company.

As you can see in the table above, the Amex Platinum doesn't provide baggage delay insurance , emergency medical and dental benefits , roadside assistance or travel accident insurance . For brevity, I won't discuss the types of insurance the Amex Platinum doesn't provide any further in this guide.

Instead, I'll compare the protections head-to-head for the types of insurance provided by both cards. You can find the guide to benefits for both cards as follows:

• Chase Sapphire Reserve benefits guide
• Amex Platinum benefits guide

And to learn more about both cards, check out our Chase Sapphire Reserve credit card review and Amex Platinum card review .

Related: Amex Platinum vs. Chase Sapphire Reserve: Which card is right for you?

Trip delay insurance

Trip delay insurance may provide reimbursement for reasonable expenses during a delay when traveling on a common carrier. Here's a comparison of the Chase Sapphire Reserve 's and Amex Platinum Card 's trip delay insurance.

*Eligibility and benefit level varies by card. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for details. Policies are underwritten by New Hampshire Insurance Company, an AIG Company.

As you may gather from the above table, the primary differences in trip delay coverage are:

• The Amex Platinum requires round-trip travel, which you must buy with your card (in whole or combination with other eligible methods).
• The Amex Platinum doesn't cover overnight delays that are less than six hours.
• The Amex Platinum caps your claims to two per 12-month period.
• The Amex Platinum covers traveling companions as long as you pay for their round-trip common carrier fares with your card.
• The Chase Sapphire Reserve explicitly covers delays due to strikes, while the Amex Platinum explicitly covers delays due to lost or stolen passports or travel documents.

Related: Chase paid for my $1,100-per-night hotel room thanks to built-in trip delay coverage

Trip cancellation/interruption insurance

Trip cancellation and interruption insurance may provide reimbursement for nonrefundable, prepaid trip expenses when you must cancel or alter a trip due to a covered situation. In some cases, you may be covered for additional expenses. Here's a comparison of the Chase Sapphire Reserve 's and Amex Platinum Card 's trip cancellation and interruption insurance:

* Eligibility and benefit level varies by card. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for details. Policies are underwritten by New Hampshire Insurance Company, an AIG Company.

As you can see in the above table and the related benefits guides, the primary differences in trip cancellation and trip interruption coverage are:

• The Amex Platinum requires round-trip travel , paid with your card (in whole or in combination with other eligible methods). Only travel expenses put on the card used for round-trip common carrier travel will be covered.
• The Amex Platinum may cover the cost to return home or rejoin the trip if your trip is interrupted.
• The Chase Sapphire Reserve may reimburse redeposit fees imposed by a rewards program if your trip is canceled or interrupted, as well as change fees and car positioning fees if your trip is interrupted.
• The Chase Sapphire Reserve covers more types of losses, including if your accommodation at your destination is made uninhabitable or your host at your destination dies or is hospitalized.
• The Amex Platinum excludes losses related to mental or emotional disorders unless hospitalized. The Amex Platinum also excludes losses that occur when you're intoxicated. The Chase Sapphire Reserve excludes any loss for any trip booked while on a waiting list for specified medical treatment.

Check out American Express' trip cancellation and interruption insurance coronavirus frequently asked questions if you're wondering whether the Amex Platinum's insurance will cover coronavirus -related cancellations or interruptions.

Related: Be careful: Avoiding outbreaks isn't covered by most travel insurance

Auto rental collision damage waiver

The collision damage waiver offered by both cards can cover your rental car if you're in an accident or if it's stolen or damaged. Here's a comparison of the Chase Sapphire Reserve 's and Amex Platinum Card 's rental car insurance.

^ Eligibility and benefit level varies by card. Not all vehicle types or rentals are covered, and geographic restrictions apply. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for details. Policies are underwritten by AMEX Assurance Company. Coverage is offered through American Express Travel Related Services Company, Inc.

As you can see in the above table and the related guide to benefits, the primary differences in car rental collision damage protection are:

• The Chase Sapphire Reserve covers more types of vehicles.
• The Chase Sapphire Reserve provides primary coverage.
• The Chase Sapphire Reserve doesn't have country exclusions.
• The Amex Platinum offers coverage to spouses when payment is made with an eligible card.
• While the Amex Platinum coverage specifically mentions peer-to-peer rentals, it's unlikely your Sapphire Reserve would cover Turo rentals .

If you'd prefer to get primary coverage for rental cars when using American Express cards , you can enroll in American Express' Premium Car Rental protection .

Related: 11 common rental car mistakes — and how to avoid them

Emergency evacuation and transportation insurance

The emergency evacuation and transportation insurance provided by these cards can arrange and pay for necessary emergency medical transport and evacuation under eligible circumstances. Here's a comparison of the Chase Sapphire Reserve 's and Amex Platinum Card 's emergency evacuation and transportation insurance.

# Eligibility and benefit level varies by card. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for details. If approved and coordinated by Premium Global Assist Hotline, emergency medical transportation assistance may be provided at no cost. In any other circumstance, cardmembers are responsible for the costs charged by third-party service providers.

As you can see in the above table and the related guide to benefits, the primary differences in the emergency medical evaluation benefit are:

• You're covered by the Amex Platinum even if you use another card to purchase your common carrier fare, whereas you must at least partially pay with the Chase Sapphire Reserve or associated rewards to be covered.
• The Chase Sapphire Reserve has stricter requirements for trip length.
• Both cards offer additional benefits that can bring a family member to your side or return now-unaccompanied minors home.

Related: A Medjet medical transport membership is different than travel insurance. Here's why you need both

Lost luggage reimbursement

The lost luggage benefit offered by both cards may reimburse you if your baggage is lost, damaged or stolen during a trip. Here's a comparison of the lost luggage reimbursement provided by the Chase Sapphire Reserve and Amex Platinum Card .

† Eligibility and benefit level varies by card. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for details. Policies are underwritten by AMEX Assurance Company.

As you can see in the above table and the related guide to benefits, the primary differences in lost luggage reimbursement are:

• The Amex Platinum explicitly notes that losses due to confiscation by TSA aren't excluded.
• The Chase Sapphire Reserve covers a broader selection of family members when you pay for their ticket using your card.
• The cards exclude different types of items and types of loss.

Related: Everything you need to know about Amex's baggage insurance plan

When should I use the Chase Sapphire Reserve vs. the Amex Platinum?

The Platinum Card from American Express earns 5 Amex Membership Rewards points per dollar spent on flights booked directly with airlines or with American Express Travel (on up to $500,000 of these purchases per calendar year, then 1 point per dollar) for an approximate 10% return based on TPG's valuations . The Chase Sapphire Reserve earns 10 Chase Ultimate Rewards points per dollar on hotels and rental cars purchased through the Chase Travel portal , 5 points per dollar on flights booked through this portal, 10 points per dollar on Lyft rides through March 2025 and 3 points per dollar on all other travel (bonus points earning comes into effect after exhausting the $300 annual travel credit ).

The Sapphire Reserve has an annual fee of $550 while the Amex Platinum Card has a $695 annual fee (see rates and fees ).

Related: Amex Membership Rewards vs. Chase Ultimate Rewards: Which is the best?

Despite the earning gap (which can sway one way or the other, depending on how you book your flights), you may want to use the Chase Sapphire Reserve when booking some common carrier travel. I recommend checking out the guide to both cards' benefits and considering which card is best for your travel expenses. To help, here are some reasons to consider each card.

Reasons to use the Chase Sapphire Reserve

• Offers a baggage delay benefit , an emergency medical and dental benefit, and roadside assistance up to $50 up to four times a year.
• Only a portion of your travel expenses must be charged to your card to unlock most benefits (whereas the Amex Platinum generally only provides benefits when you charge the entire common carrier fare to your card).
• No requirement for round-trip travel.
• Provides trip delay benefits if you're delayed overnight for less than six hours.
• Provides primary car rental coverage.
• Offers travel accident insurance (although the Amex Platinum provides some travel accident insurance on car rentals).
• Includes strikes as an eligible reason for trip delay insurance.
• May reimburse redeposit fees imposed by a rewards program under trip cancellation/interruption insurance .

OFFICIAL APPLICATION LINK: Chase Sapphire Reserve

Reasons to use the Amex Platinum

• Provides an emergency medical evacuation benefit to cardmembers regardless of whether you charged any trip expenses to the card.
• Covers traveling companions for trip delay insurance and trip cancellation/interruption insurance when you purchase their round-trip fare with your card.
• May reimburse additional transportation expenses to rejoin the common carrier covered trip or return to the place of origin; also may cover the purchase of tickets for a new departure, under trip interruption insurance.
• Includes lost or stolen passports or travel documents as an eligible reason for trip delay insurance.
• Has a higher cap on high-value items for lost, damaged or stolen baggage.
• Some readers have found the claim process to be more straightforward and simple.

OFFICIAL APPLICATION LINK: The Platinum Card from American Express

Bottom line

Some travelers who have both cards put their flights on the Amex Platinum to earn 5 points per dollar and put other travel expenses on the Chase Sapphire Reserve to earn 3 points per dollar and activate their trip cancellation and interruption protections.

You might want to keep the Amex Platinum primarily for Centurion Lounge access , hotel elite status and access to Amex Fine Hotels & Resorts , as well as nearly $1,500 in annual credits available to cardmembers.

However, you might want to avoid booking flights with the Amex Platinum because of the round-trip requirement and the lack of baggage delay protection . Instead, you'd prefer to use the Chase Sapphire Reserve for common carrier fares and other travel expenses .

Additional reporting by Ryan Smith.

For rates and fees of the Amex Platinum card, click here .

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Ethereum price today: ETH is trading at $2,995.99

Wayne Duggan

Farran Powell

“Verified by an expert” means that this article has been thoroughly reviewed and evaluated for accuracy.

Published 9:50 a.m. UTC May 3, 2024

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Jack Taylor, Getty Images

What is the current price of ethereum?

The price of ethereum, or 1 ETH, traded at $2,995.99, as of 8 a.m. ET. The highest intraday price that ethereum reached in the past year was $4,088.00 on March 12, 2024.

Ethereum chart

The chart above is pulling data as of 8 a.m. ET daily and doesn’t display intraday highs or lows.

Even though ethereum is not the first altcoin, it’s the most popular and successful. The cryptocurrency was launched in 2015. Its blockchain has generated tremendous growth and returns over the past nine years.

Ethereum price history

*The return comparisons are as of 8 a.m. ET.

Ethereum’s 52-week intraday high was on March 12, 2024, trading at $4,088.00 per ETH. Its 52-week intraday low was $1,500.00 on Aug. 17, 2023.

The leading altcoin has shifted global financial markets and amassed a global market capitalization of $357.59 billion. ETH is currently up 57.31% year over year.

Ethereum market cap

Today, ethereum's $357.59 billion market capitalization is second to bitcoin's. Bitcoin and ethereum represent 68.79% of the entire cryptocurrency market . Behind ethereum, the third-largest crypto is BNB, with a market cap of over $80 billion.

Bitcoin and ethereum's combined crypto market dominance has fluctuated over the years. But it has trended steadily higher since late 2022.

Ethereum's market cap of $357.59 billion is slightly more than some major blue-chip stocks , such as Home Depot (HD) at $328.99 billion and Johnson & Johnson (JNJ) at $352.17 billion.

What is ethereum? And how does ethereum work?

Ethereum is a blockchain-based network created to facilitate secure, decentralized financial transactions. The network's native cryptocurrency is ether.

Unlike bitcoin, ethereum’s programmable blockchain allows users to securely verify and execute code, including smart contracts and decentralized applications. Smart contracts on the ethereum network are software applications that run automatically on the blockchain when certain predetermined conditions are met.

The ethereum network's decentralized nature allows developers to run programs without relying on Big Tech companies or other third parties. Rather than running software on cloud servers housed in massive data centers owned by Google, ethereum users can run applications by leveraging ethereum's large network of small, private computers.

Applications on the ethereum blockchain include gaming, socializing, gambling and decentralized finance options. The ethereum blockchain is also home to the world's most significant non-fungible tokens . NFTs are unique digital creations representing ownership of digital property, such as a work of art, song or video.

Ethereum gas price

Ethereum gas is the fee network users pay to process transactions or use smart contracts on the network. Gas fees are akin to highway tolls. Users pay these fees to use the ethereum blockchain.

The unit of measurement for gas fees is gwei. One gwei equals one billionth of one ETH.

A history of ethereum prices

Ethereum prices 2015-2020.

Like bitcoin and other leading cryptocurrencies, ethereum had humble beginnings. Shortly after its launch in July 2015, ETH hit its all-time low of 42 cents in October 2015.

The popularity and trading volumes of cryptocurrencies started to snowball in 2017. ETH prices reached $1,000 for the first time in January 2018. The crypto ultimately peaked at around $1,300 less than two weeks later.

CME Group's announcement that it would launch bitcoin futures contracts drove ethereum’s 2017 rally. They were the first cryptocurrency-related products offered by a regulated U.S. financial institution.

Enthusiasm for cryptocurrency died down in 2018. That led to one of several crypto winters in the past decade.

The next crypto boom began in 2020. This time, ETH's parabolic rise was partly driven by government shutdowns of sports, casinos, and other leisure and entertainment options. Multiple government stimulus checks also left many Americans with extra disposable income to buy crypto.

Ethereum prices 2021-2024

Ethereum prices reached $4,891.70 on Nov. 16, 2021. But rising interest rates cooled investor enthusiasm for risk assets in 2022. A string of crypto industry layoffs and bankruptcies weighed on crypto prices, culminating in the bankruptcy of leading cryptocurrency exchange FTX in November 2022. ETH prices dipped below $900 during the 2022 crypto winter.

The ethereum rally resumed in 2023 and into 2024 as investors grew more optimistic about the U.S. economic outlook. The Securities and Exchange Commission’s approval of several bitcoin spot ETFs in January 2024 further bolstered ethereum prices. Many crypto enthusiasts see this as an encouraging sign for the approval of ethereum spot ETFs.

Bitcoin price vs. ethereum price

Since ethereum’s launch in 2015, there's no question that bitcoin and ETH have been spectacular investments.

The past year’s enthusiasm for bitcoin spot ETFs has reversed the performance gap between the two major cryptos. The price of bitcoin is up 106.09% year over year, compared to a 43.64% gain for ethereum.

How to buy ethereum online

You can buy ethereum on popular cryptocurrency exchanges like Binance , Coinbase and Kraken. Ethereum trades under the symbol ETH. There are also online brokerages that support cryptocurrency trading, such as Robinhood , Interactive Brokers and Webull.

In addition, you can buy ethereum through leading payment apps Venmo and PayPal. Finally, ethereum can be bought directly by searching for a physical cryptocurrency ATM that sells ether.

How to store ethereum

Anyone buying ethereum directly must store their ETH in a cryptocurrency wallet . This is much like storing paper money in a physical wallet.

The private keys are needed to send or receive cryptocurrency in a digital wallet. A person who controls a wallet's private keys controls all the cryptocurrency associated with the wallet.

Ethereum wallets can be hardware wallets resembling USB sticks or software wallet apps that store ETH on a smartphone or another device. Hot wallets are connected to the internet, while cold wallets are not. Hot wallets are generally considered more convenient, but cold wallets can be safer and more secure.

Ethereum ETFs

In addition to buying ethereum directly, you can indirectly speculate on the ethereum market via ethereum funds .

The SEC approved the first wave of ethereum futures ETFs in late 2023. These ETFs don't invest in ethereum directly but instead hold ethereum futures contracts. Leading ethereum futures ETFs include the VanEck Ethereum Strategy ETF (EFUT), the ProShares Ether Strategy ETF (EETH) and the Bitwise Ethereum Strategy ETF (AETH).

The popular Grayscale Ethereum Trust (ETHE) tracks the price of ETH. But Grayscale can only trade over the counter in the U.S. until it receives approval to convert into an ETF. That conversion is contingent on the SEC’s approval.

Ultimately, ethereum investors hope that the SEC will approve spot ethereum ETFs. Spot ETFs invest directly in the underlying cryptocurrency rather than futures contracts or other derivatives. Grayscale and BlackRock are among several companies that have applied for SEC approval.

Frequently asked questions (FAQs)

Ethereum’s all-time intraday high was $4,891.70, which it reached on Nov. 16, 2021.

No. Since the ethereum network upgraded from a proof-of-work model to a proof-of-stake model, ethereum mining is no longer necessary. But ethereum investors can still profit from the proof-of-stake system by staking ETH.

Blueprint is an independent publisher and comparison service, not an investment advisor. The information provided is for educational purposes only and we encourage you to seek personalized advice from qualified professionals regarding specific financial decisions. Past performance is not indicative of future results.

Blueprint has an advertiser disclosure policy . The opinions, analyses, reviews or recommendations expressed in this article are those of the Blueprint editorial staff alone. Blueprint adheres to strict editorial integrity standards. The information is accurate as of the publish date, but always check the provider’s website for the most current information.

Wayne Duggan is a regular contributor for Forbes Advisor and U.S. News and World Report and has been a staff writer for Benzinga since 2014. He is an expert in the psychological challenges of investing and frequently reports on breaking market news and analyst commentary related to popular stocks. Some of his prior work includes contributing news and analysis to Seeking Alpha, InvestorPlace.com, Motley Fool, and the Lightspeed Active Trading blog. He’s the author of the book "Beating Wall Street With Common Sense," which focuses on practical investing strategies to outperform the stock market. He resides in Biloxi, Mississippi

Farran Powell is the lead editor of investing at USA TODAY Blueprint. She was previously the assistant managing editor of investing at U.S. News and World Report. Her work has appeared in numerous publications including TheStreet, Mansion Global, CNN, CNN Money, DNAInfo, Yahoo! Finance, MSN Money and the New York Daily News. She holds a BSc from the London School of Economics and an MA from the University of Texas at Austin. You can follow her on Twitter at @farranpowell.

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