Bitcoin Forum

I will not be doing this for some time but withen a year I will be needing to buy well over $100,000 in bit coins with various credit cards.

I am starting a bussiness that i cannot get a loan for so my plan is to get a huge credit line (I am confident I can get at least 500,000 credit line overnight). Then I want to liquidate the credit ASAP and I think buying bitcoins with credit card and then selling bit coins and getting the money in my bank account may be the best way.

Questions:
1. Is visa or mastercards better I will have several cards?

2. Do some banks deny transactions when trying to buy bitcoins?

3. What are the best companies to buy from and the buying limits/fee percentage? (I will have bussiness partner and most cards you can add a name so that may double my buying power)

4. Why the hell do people use purse to buy bitcoins with credit card when the “discounts”/fees are so high is that only a thing people do when cards are stolen?

5. What is the best and most secure way for a newbie to securely store bitcoins?

6. If i am in colorado where many MMJ growers have cash could i make out better selling my bitcoins for cash and charging a fee since buyers could remain anynomous?

7. How stable is the bitcoin market am i better off selling bitcoin right away or saving bit coin currency until i need cash? It seems market just goes up but it seems too good to be true.

8. Would i be better off buying gold to resell or is this an OK idea; am i crazy?

Thanks🙏👍✌️💀

I think you are going to have problems finding people/services/exchanges to sell you any meaningful amount to help you reach your $ goal.  Since credit cards can chargeback, you will be probably only be able to buy $100-250 per week with a credit card which means you will have to do ALOT of transactions...

Buy.bitcoin.com says enter value between 50-$10,000. Is this only work with certain prepaid cards or somethong? Anyone with more info please let me know. Thanks

Anyone have any experiance buying bulk bitcoins with credit card?

Does anyone know if certain credit cards decline purchases of bitcoins?

Has anyone on this forum bought lots of bitcoin with credit card?!? Noone?!?

- Visa or Mastercard have a limit weekly/monthly for purchases so it can take a very long time, if not years, to buy $100k

- You can take a look at Bitpanda, Cex.io, Paymium, Localbitcoin

- So far I haven't seen a bank refusing a purchase of bitcoins with a card

- People use Purse for two reasons at least:
            - you don't need to have your ID verified and to send your ID card, selfie, bills utility etc (KYC/AML).
            - You pay a higher rate from 1% to 20% but other websites have also a higher rate (from 5% to 15-20%) since they need to include the
              Visa fees

- Hardware wallets, paper wallet, anything with private keys is good. It means no web-based wallet.
- 6. No idea what is MMJ so sorry

- The Bitcoin market is a lot volatile daily but for the long term, it is greatly performing.

- Usually, you buy gold for securing your funds for 10-15 years, not really to make a profit from it. (at least it's not really the first reason)Buying
  gold with a loan is ridiculous to be honest

Thanks for the reply and information!

Mmj is medical marijuana.

So you speak of buying limit on visa/mastercard. I have made purchases well over 1000$ on a credit card before and will have 75-100 credit cards so i can space the purchases out. Is the limit on visa/mastercard specific to bitcoin websites like the credit cards know those sites and restrict high purchase amounts or you mean the limit is accross all purchases; bitcoins are not discriminated by CC companies or they are? The reason for buying gold or bitcoins is to huy and then sell very shortly. Then i will have cash. I am startingn a business so you can not pay employee wages with CC but you can if you liquidate the CC line.

Thanks for anymore help!!’