Why Cryptocurrency or ICO dont allow purchasing from credit or debit card ?

jayc89

hero member

Activity: 756

Merit: 500

CryptoTalk.Org - Get Paid for every Post!

Quote from: doorphone on January 23, 2018, 04:14:54 PM

Hello,

Hope you all are doing great, I know crypto is there to eliminate banks etc but why ICO dont allow purchasing through credit or debit card, if we eliminate the factor of charge back etc like simplex provide at bitstamp ?

Lets say I am launching my Proof of Stake coin , where I allow people to buy coins using their credit or debit card and I get Fiat currency, later when these people will take coins on a Exchange will that have any effect that this coin was not sold using ETH or BITCOIN ?

It would feel really weird for me to use Fiat to purchase a coin that is against fiat. I may just be overthinking it.

patrickj

sr. member

Activity: 490

Merit: 251

Quote from: doorphone on January 23, 2018, 04:14:54 PM

Hello,

Hope you all are doing great, I know crypto is there to eliminate banks etc but why ICO dont allow purchasing through credit or debit card, if we eliminate the factor of charge back etc like simplex provide at bitstamp ?

Lets say I am launching my Proof of Stake coin , where I allow people to buy coins using their credit or debit card and I get Fiat currency, later when these people will take coins on a Exchange will that have any effect that this coin was not sold using ETH or BITCOIN ?

My opinion to this is because others will turned to scam at the end. It is not safe to just put your important details about your bank account. You can't be sure they have a legitimate project and doing a fraudalent act that will stole your money.

victoria444

copper member

Activity: 258

Merit: 1

Even liveEdu accepts fiat, though not main method for contribution. What am saying is, more ico accepts fiat than you think.

Auditan04

newbie

Activity: 29

Merit: 0

One theory I think the reason why cryptocurrencies don't allow purchasing thru credit card is because credit company didn't allow them. Purchase using credit card can be subject for abuse from the owner of the card. For example, the scenario is the credit card holder is compromise or not worthy he/she might purschase a lot of crypts that eventually convert it to cash. The owner of the card didn't not have any plan to pay the transaction made thru credit card. A lot of risk will be burden to credit card company if they allow the purchase of crypts.

gutshot5820

full member

Activity: 364

Merit: 100

That's why they aim to get on exchanges where you can buy tokens with your credit card. Just picked up some ITC off of Huobi today. great coin to look into. https://coinmarketcap.com/currencies/iot-chain/

Quantumplation

sr. member

Activity: 308

Merit: 250

NOTE: This message was originally not posted by me, but instead by someone who compromised my account. I have deleted the content.

TeamDeedCoin

jr. member

Activity: 213

Merit: 1

Tokenize and Discount Real Estate Commission

Hi,

This is Phil from Deedcoin.

Most ICOs cannot accept credit cards because they are not qualified to be transacted by a processor.

However, with the usability of Deedcoin, and its practicality in an already established ecosystem, on top of being a securities-compliant token, we do accept credit card purchases.

We believe the standard of ethics in the ICO industry needs to be raised so we aim to lead by example.

Thanks,

Phil

NOTE: The maximum amount that can be purchased at this time is 1500 Tokens, with the exception of Accredited Investors.

Any questions? Contact [email protected].

Deedcoin Team
[email protected]
https://Deedcoinlaunch.com
5545 N Wickham Rd Suite 101
Melbourne, FL 32940

bountyjunkie

member

Activity: 168

Merit: 10

WEICROWD.COM - ICO Tech, Funding & Exchange

You ought not to accept fiat or you straight away come under the centralized authority and economy.

doorphone

copper member

Activity: 22

Merit: 5

Hello,

Hope you all are doing great, I know crypto is there to eliminate banks etc but why ICO dont allow purchasing through credit or debit card, if we eliminate the factor of charge back etc like simplex provide at bitstamp ?

Lets say I am launching my Proof of Stake coin , where I allow people to buy coins using their credit or debit card and I get Fiat currency, later when these people will take coins on a Exchange will that have any effect that this coin was not sold using ETH or BITCOIN ?

Topic: Why Cryptocurrency or ICO dont allow purchasing from credit or debit card ? (Read 134 times)