Topic: Using credit cards to buy bitcoin in the bull run - page 5. (Read 8114 times)
has anyone ever done this, I once thought of doing this but this step is very risky, without having to do mathematical calculations, if you investing when the price still 6-7K and are sold now the interest costs can already be closed and you get a lot of profits. but if investing using a credit card at this time I am very worried if suddenly the price colapse.
If you know and trust someone who offers peer-to-peer exchange to buy bitcoin then imo it's better to buy there than buying directly on exchange via credit card payment. Buying a large amount on exchange has huge fees compared to p2p. So if you do p2p you can buy more than what you can buy on exchange.
If you were going to do this, what card would you use?
Do any credit card companies have restrictions on bitcoin purchases?
Which cards offer incentives and bonus dollars for purchases?
Many people already said it but I want to add on top of it and say that never do this. Buying crypto with credit card is the most idiotic thing there is and nobody should do it. Let alone credit card even if you have cash at hand you should make sure that you are fine with losing that amount before you invest it, if I am telling you to make sure you do not need the money you already have to invest then you should understand why you should not invest the money you actually don't have and buy crypto with credit cards.Do any credit card companies have restrictions on bitcoin purchases?
Which cards offer incentives and bonus dollars for purchases?
You may see this as a risk that you are welcoming and "at worst what could happen" but I am telling you it is very risky and could turn sideways very quickly, maybe your investment won't go down too much but when you urgently need money crypto is not easy to get your hands on and you will want to use your credit card for it instead.
If you were going to do this, what card would you use?
Do any credit card companies have restrictions on bitcoin purchases?
Which cards offer incentives and bonus dollars for purchases?
it is based on your own risk but Bitcoin is always portable so that we can definitely try some respect to buy Bitcoin and get profit because we had you chances available in this time for getting huge milestone from the development of Bitcoin so I think we can definitely take some risk in Bitcoin investment.Do any credit card companies have restrictions on bitcoin purchases?
Which cards offer incentives and bonus dollars for purchases?
Buying anytime would really be depend on yours.
If you were going to do this, what card would you use?
Do any credit card companies have restrictions on bitcoin purchases?
Which cards offer incentives and bonus dollars for purchases?
it is based on your own risk but Bitcoin is always portable so that we can definitely try some respect to buy Bitcoin and get profit because we had you chances available in this time for getting huge milestone from the development of Bitcoin so I think we can definitely take some risk in Bitcoin investment.Do any credit card companies have restrictions on bitcoin purchases?
Which cards offer incentives and bonus dollars for purchases?
Buying anytime would really be depend on yours.
As far as I know, there are still some companies which issue credit cards or smart cards and are compatible for the purchase of Bitcoin. Bitrue and Amon are among the few companies that issue smart cards for the purchase of Bitcoin and other cryptocurrencies.
If you were going to do this, what card would you use?
Do any credit card companies have restrictions on bitcoin purchases?
Which cards offer incentives and bonus dollars for purchases?
it is based on your own risk but Bitcoin is always portable so that we can definitely try some respect to buy Bitcoin and get profit because we had you chances available in this time for getting huge milestone from the development of Bitcoin so I think we can definitely take some risk in Bitcoin investment.Do any credit card companies have restrictions on bitcoin purchases?
Which cards offer incentives and bonus dollars for purchases?
Buying anytime would really be depend on yours.
If you were going to do this, what card would you use?
Do any credit card companies have restrictions on bitcoin purchases?
Which cards offer incentives and bonus dollars for purchases?
it is based on your own risk but Bitcoin is always portable so that we can definitely try some respect to buy Bitcoin and get profit because we had you chances available in this time for getting huge milestone from the development of Bitcoin so I think we can definitely take some risk in Bitcoin investment. Do any credit card companies have restrictions on bitcoin purchases?
Which cards offer incentives and bonus dollars for purchases?
If you were going to do this, what card would you use?
Do any credit card companies have restrictions on bitcoin purchases?
Which cards offer incentives and bonus dollars for purchases?
Do any credit card companies have restrictions on bitcoin purchases?
Which cards offer incentives and bonus dollars for purchases?
Credit card purchases are completely legit as long as you use trusted place to buy,
The negative effect is that has high charge rate because credit card companies how to make money on every purchase.
Buying Bitcoin during bullrun via creditcard made me laugh, but honestly its hard that you need owe just to invest and its not practical in any wat since you double the risk. Well if you have the guts why not? As matter of fact most of us loves to risks.
If you want to be a richest person in your life you definitely need to take some risk involved in it with your investment because if you don't have any money in your hand while the development of the Bitcoin is happening you can definitely use the credit card to invest in it.
I would avoid buying bitcoin with credit card - not because of restrictions, but because all exchanges have extra fees on crypto purchases with credit cards. I know for Bitstamp, Coinbase and Crypto.com app.
Bitstamp has 5% fee on credit card purchase, Coinbase 3.99%. If you top up your account via Bank transfer, it's zero fee on both mentioned exchanges.
The only scenario in which I would consider purchasing with credit card is when bank transfer takes too long (deciding to buy on Friday but bank is closed so bank transfer will be done on Monday) or I expect Bitcoin price to increase more then 6% in a day so it's better to pay 5% fee than buy Bitcoin at 6% higher price the next day when bank transfer arrives.
This killed me, when Bitcoin was $9000 last week, I did my normal bi weekly transfer in, well im still waiting and its been almost a full week. Bitstamp has 5% fee on credit card purchase, Coinbase 3.99%. If you top up your account via Bank transfer, it's zero fee on both mentioned exchanges.
The only scenario in which I would consider purchasing with credit card is when bank transfer takes too long (deciding to buy on Friday but bank is closed so bank transfer will be done on Monday) or I expect Bitcoin price to increase more then 6% in a day so it's better to pay 5% fee than buy Bitcoin at 6% higher price the next day when bank transfer arrives.
If you were going to do this, what card would you use?
Do any credit card companies have restrictions on bitcoin purchases?
Which cards offer incentives and bonus dollars for purchases?
Do any credit card companies have restrictions on bitcoin purchases?
Which cards offer incentives and bonus dollars for purchases?
There are a few types of limits (as an example - some of those we have):
1. Transaction size per single purchase (with us $1000)
2. On the card itself (here only 3d secure ones are accepted)
3. Country (sorry eg. Iranians and North Koreans)
As well, if the card was reported as stolen - usually you will not be able to use it, as it is blocked.
With cards themselves, you should contact issuing institution/card company. As speaking of bonuses - often you can find some special offers on the website of exchange itself (as we have one).
Great responses. Thanks everybody.
If you were going to do this, what card would you use?
Do any credit card companies have restrictions on bitcoin purchases?
Which cards offer incentives and bonus dollars for purchases?
Don't do this unless you hae source of money to payback if the investment on bitcoin fails.People come up with this idea in 2017 as well but many lost and failed to pay back the credit to the banks which is really bad thing to happen anyone.Do any credit card companies have restrictions on bitcoin purchases?
Which cards offer incentives and bonus dollars for purchases?
Avoind any money which is lended because crypto investments are too volatile and it is like double side knife.
If you were going to do this, what card would you use?
Do any credit card companies have restrictions on bitcoin purchases?
Which cards offer incentives and bonus dollars for purchases?
Do any credit card companies have restrictions on bitcoin purchases?
Which cards offer incentives and bonus dollars for purchases?
For now, banks and bitcoin in the country is not yet fully linked so you using credit card to buy some resources isnt possible. Besides, i would not use any credit to buy an investment because that was so impractical and also, i would not want to link any personal cards on cryptocurrency for some personal security purposes.
I know a number of people who got seriously burned in the last bull run buying with credit cards. The markets are inherently unpredictable. I will also add that it always seems that the markets crash just as everyone is absolutely certain they will go up. It seems like the minute most people feel comfortable purchasing BTC via CC is exactly the point when the market cycle changes.
Be careful.
Be careful.
If you were going to do this, what card would you use?
Do any credit card companies have restrictions on bitcoin purchases?
Which cards offer incentives and bonus dollars for purchases?
Currently I still do not use credit cards to buy BTC because in my country, the government still enacts laws that prohibit Cryptocurrency.Do any credit card companies have restrictions on bitcoin purchases?
Which cards offer incentives and bonus dollars for purchases?
But in the future, two big players in electronic payment industry (Paypal and Visa) will support buying and selling BTC. If you haven't already, create an account for yourself and in the future, will you be able to buy BTC at the best price and as quickly as possible.
During the last Bullrun a lot of credit card companies "blocked" people from buying bitcoins with their credit cards. I think it is a very bad idea to use credit to fund any Crypto currency investment, because it might take months or even years to make a profit and while this is not happening, you will have to pay back that money with interest every month.
Looking at the Bitcoin price history you would notice that one recovery stage almost took 3 years to reach the ATH price again and by that time you will not see any profit, because you would have had to re-pay most of that in high interest on the credit you used.
Looking at the Bitcoin price history you would notice that one recovery stage almost took 3 years to reach the ATH price again and by that time you will not see any profit, because you would have had to re-pay most of that in high interest on the credit you used.
well. there are several websites that allow to buy bitcoin with credit cards. but i can not advise to buy any crypto currency with credit card. this market is extremely risky and there is a high possibility that you will loose money.
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