Bitcoin Forum

Hi,

I see very very few ICO's, which allow they tokens to be bought by credit card directly.
What reason do you, behind this ? I thought, if it is open to bought from credit card, sale will be open to more people.
I am aware that many banks are not encouraging to buy crypto from their credit card, but not in all countries.

Thanks

Because you stole that credit card and the ICO will get fucked when the real card holder doesn't pay.  Stop scamming asshole.

Yeah, very few ICOs had an option to pay for coins/tokens directly with credic card, I think it may be because it's problematic to implement. But there are few services where you can buy BTC/ETH using credit card (like Coinbase or Bancor for example), so then you can use it to participate in ICO.

Yes, I agree.
I was thinking from point of view of ICO owners, if would that be so difficult to add a payment gateway along with ETH. I guess not. In-spite of, it can reach to more people and have more token sale, they are not implementing, so I am trying to figure out if there is any other reason.

Why do you want to use debit card to buy token from ICO instead of using the acceptable cryptocurrency. ICO are mostly accept cryptocurrency in order to enable investors to carryout fast, reliable and transparent transaction.

It is really easier for the issuers to calculate their needs, spending and requirements in USD rather than crypto as the price of cryptocurrency is very volatile. Most of the ICO also do convert the received coins to USD at current price and give the token in price relative to USD value.

Most of the ICOs were created with the purpose of making money so they don't want to get tracked in anyway and even no ICOs have the option of paying with the USD and other fiat money.
But you can buy cryptos from exchange using credit card and then buy ICO tokens from it.

First of all, because ICO is a substitution token exchange token, it does not meet the requirements of securities law.
If it becomes legal tender exchange token, ICO may face current legal problems.

Thanks all, for thoughtful responses.
If it can be legal issues, are their legal approvals, which can allow to sell token directly from cc ? Consider this utility token and consider it outside US, because I understand, it is difficult in US.

Therefore, this is the existing problem. Most ICO is not oriented to the United States, because the United States has strict policies.
Moreover, most of the tokens of ICO projects approved by the SEC need to be locked up for at least one year.

It will be difficult for the team. The easiest way to send an ETH or BTC to a specific address, than to create an account with a bank. And then try to withdraw the collected funds from the bank account (if there is a minimum of $ 20 million).

In what way, it will be difficult for ICO team ?

Investors should understand that most licensed and registered investment firms do not allow their customers to use credit cards to buy investments or to fund an investment account. We urge investors to work only with a licensed or registered investment professional or firm and not attempt to use a credit card to fund investments.

https://www.investor.gov/howeycoins

I think credit cards is not the option for most icos because there is a way to cancel payment and get refund or dispute the payment, so lets assume the token gets dumped after listing on exchange and the ico buyer can ask for refund, this way ico can loose funds and destabilize the whole project.

it is very difficult for ICO to apply a credit card that uses crypto or its payment using crypto, certain banks in foreign countries forbid it, I think if credit card will be applied need a lot of adaptation and continuous improvement, I think there will be many problems caused by credit card this.

I bought an ICO token from a credit card. I personally think that it is impossible in the current situation. The current technology or market conditions still do not meet the requirements for purchasing an ICO token from a credit card. The price of the cryptocurrency is not stable enough. It is now, but as conditions continue to mature, it may be realized someday in the future.

investment firms do not allow their customers to use credit cards to buy investments or to fund an investment account. We urged investor.

I think this has to do with the country they are operating from and the banks which you want to buy with, an most ICO now accept credit card payment.

Because it's basically not much different to gambling and most credit cards won't allow you to gamble either for obvious reasons. Using credit cards means you're using the banks money so it's up to them.