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Title: Credit card to Bitcoins? Post by: RandallC on July 13, 2011, 06:56:38 PM I want to purchase a large amount of BitCoins and would prefer to do it via credit card for practical and privacy issues with my bank (doing big international wire transfers does not go unnoticed in my country).
All businesses which tried to accept CC/DC/Paypal payments closed after some time because of chargebacks and stolen cards, but there may be a workaround. For example someone with a merchant account could take the funds and then quickly move them to another account, so that any chargeback attempt will not find any money back to transfer. This kind of strategy is not viable for long-term business, but can do occasionally. In any case I'm interested in solutions and hacks. Comments are welcome. Title: Re: Credit card to Bitcoins? Post by: onfia on July 13, 2011, 07:09:13 PM Do a liberty reserve credit card transfer using one of the Exchangers, then send the LR USD to mtgox and buy bitcoins there.
Title: Re: Credit card to Bitcoins? Post by: RandallC on July 13, 2011, 07:12:47 PM Do a liberty reserve credit card transfer using one of the Exchangers, then send the LR USD to mtgox and buy bitcoins there. Thx for the answer. Do you recommend a particular exchanger? It seems to be quite the jungle out there. Title: Re: Credit card to Bitcoins? Post by: koin on July 13, 2011, 08:54:03 PM This is a "currency consulting site", apparently. I don't know any more about them.
- http://en.bitcoin.it/wiki/Bitfunnel And there is VirWoX: - http://www.virwox.com Additionally, there might be a trading partner local to you: - http://en.bitcoin.it/wiki/Category:Local Title: Re: Credit card to Bitcoins? Post by: Exo on July 13, 2011, 08:56:49 PM Just buy off TradeHill, doesn't Dwolla accept credit cards?
Title: Re: Credit card to Bitcoins? Post by: getsum on July 13, 2011, 09:05:17 PM I had the same problem but wasn't doing a large transaction. I ended up using Virwox, get linden dollars then transfer from linden to Bitcoin. Fees are horrible, much better off using tradehill and ACH through dwolla.
If you do use Virwox be warned you can only purchase whole dollar amounts and whole bitcoins not fractions. And if you use a credit card be prepared to wait 48 hours to withdraw your bitcoins. You can place the withdrawal immediately but they don't process them for 48 hours. Title: Re: Credit card to Bitcoins? Post by: RandallC on July 13, 2011, 10:17:54 PM Just buy off TradeHill, doesn't Dwolla accept credit cards? I already tried, but they only accept US residents as members. |