Bitcoin Forum

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?

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.

Interesting. Thank you for the intelligence. I fully agree it is too risky for my investing principles.

It is still tempting because a lot of credit cards now have 0% interest for 18 months. So if you purchased $1,000 worth of Bitcoin using a credit card, the price of Bitcoin can go up quite fast in this bull run. A person can buy $1,000 worth and then cash out in a matter of days or weeks and could profit.

Where I'm at in the UK most credit card issuers stopped allowing customers to use credit cards to buy crypto. The next bull run will even more manic so if there are any card issuers left they'll probably stop it too.

Despite that all of them let you deposit to gambling sites...

It used to be easier, but I think that most banks across the world now have much stricter controls when it comes to buying coins with credit cards. Most of them will charge you the cash advance rate straight away with no interest free days, and that is assuming that buying crypto is within their ToS which for a lot of them is not.

Not only that, there is a serious lack of exchanges that will take your credit card funds because how easily you can chargeback on your transactions, meaning that the little that will accept it will have significantly higher spreads.

I think it's intrinsically risky to speculate on BTC on credit, especially on credit cards, because of the high interest rates and fees, and a lack of liquid markets that allow you to transact from CC to BTC. If you are willing to take on this risk, you might as well trade on margin.

I am surprised credit card companies allow it at all.

Think if somebody bought a bunch of Bitcoin with credit cards and they now own and control that bitcoin. The bull run will continue and their coin will be sitting in a high profit area and they can now cash out and trade it for fiat through their bank. Then they do have the credit card bill to deal with but what if they just disregarded the credit card company? They make no payments to them at all. If they did not pay the credit cards back the person can then negotiate with the credit card company for penny on the dollar payments from what they owe, or they can even just totally not pay them anything at all and they will just have a damaged credit ranking. Since the bitcoin is de-centralized, the person doing all of this owns the bitcoin, and they will own any fiat it if the bitcoin is transferred to cash through their bank. In a scenario like that the whole threat that a credit card company can dish out is not that big of a deal. In the example described above the person made out like a bull run bandit.

High fees. However, if you are able to bought it using your credit card around November - December of 2018, I'm sure by now you have enough profits to covered the fees. I don't think they're restrictions, as cc is universal as well. I'm not sure if there are cards that offer incentives though, I mean banks are against crypto you are lucky if they would allow you to make purchases.

think this has something to do with the chargebacks , in crypto they are irreversible
some of the companies mitigated it through the third party services , anti-fraud companies , that is the reason to charge extra 3-5%
Coinbase charges additional 3.99% for example , but think they offer 10$ on purchases over 100 , at least they have been doing it in 2017 :)

have you tried Cex.io with a credit card ? once you link your card you can withdraw USD/EUR directly to it
not sure how much do they charge now , but it had to be one of the best options with 2.99% +5 euros/usd

I think there used to be a whole lot, but then banks started tightening their positions, and regulations also tightened. Nowadays you'll need to check with whoever you're banking with, I know for sure that there are a few American banks that don't allow it.

If you are going long, then I'd suggest either maintaining a position within your own means (without credit), or simply using leverage to your advantage instead of taking out a credit card debt.


Obviously this is a possible scenario for credit card companies, but the risk of default is actually quite low in a bull market in my opinion. People are more aware of their credit scores, and legal standing than you'd suggest. Plus, they are making bank by charging high interest rates.

The biggest risk for them is a bear market, or a downturn, where default rates will skyrocket. Hence, there are certain companies that don't support BTC transactions.

Don't do that, this is the receipt for big losses
Invest only money you really have and you should be prepared to loss

A lot of people bought BTC with credits or even sell cars and houses, (yes houses) here in my country in 2017 and then BTC crashed...you know the end of story

I wouldn't really suggest doing this as this might cause you a lot of troubles once the credit card company found out you're buying bitcoins using their service. Also for all I know, banks have since blocked access for exchanges since the latter part of 2017 due to a lot of credit card purchases on bitcoins, so I don't know how would you complete such purchases in the first place. Anyhow, this is just asking for more trouble than having a debt on a bank so don't do it if your pocket can't bear it.

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.

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.  :P

Currently I still do not use credit cards to buy BTC because in my country, the government still enacts laws that prohibit Cryptocurrency.
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.

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.

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.

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.

Avoind any money which is lended because crypto investments are too volatile and it is like double side knife.

Great responses. Thanks everybody.

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).

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.

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.

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.

Bitcoin doesn't really need any respect yet investment does matter with our own decisions either cryptocurrencies or traditional investment we know.
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.

how dare you dont respect bitcoin . everyone here on crypto world respects bitcoin because bitcoin is doing his job to provide its followers a good income . investing in bitcoin should depend on your own risk and not by others because that is your own money and not thiers  but you should only invest what you can afford to loose because bitcoin is way too volatile and verry unpredictable . you can loose big and win big if ever your lucky on your decisions  .

But we need to remember that when we are buying bitcoin with credit cards then it is not our own money since we are supposed to payback later which can be quite dangerous as well if the profits expected not meeting the reality.

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.

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 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.

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.

I remember the purchasing of bitcoin with credit card was banned by some/most card card companies either in 2017 or 2018. Besides, buying bitcoin with borrowed money is quite a reckless behavior. I strongly advise against it.

Since many hamsters are eager to make money, Bitcoin will not be purchased directly with a credit card, but through intermediaries.  Today, there are a lot of resources where you can buy cryptocurrency by withdrawing funds from bank cards.  This is no longer a problem.

Definitely this is the opportunity for everyone if you take some rest you will be very happy in your future because we all know that cryptocurrency investment are developing now so that you need to take some risk in your life if it was here also you will not been very upset with that that this is simple thing

Cards that you will use depends on your country and depends on the cards that you have. There’s a restriction on the cards here where you can’t use it on any casinos, buying jewelries or use it on online gambling so if you directly use your cards then it might be put on red flags. Anyway, i don’t want to use this option because of a slow process and so many things to do its also not convenient i’d rather loan to my friends with zero interest.

And how safe are these options? If I use CC for purchasing Bitcoin, is there a chance that my credit card will get frozen or blocked? Can the same happen to my savings bank account if I try to purchase cryptocurrency? I have never used these two options, and therefore I am curious. The last time I purchased crypto was in 2014, and back then I used P2P.

I do hope that companies like Paypal can also do this. But I guess if companies like mastercard and visa will make this cryptocurrecny purchase, then  I think it will defeat the concept of decentralization and anonymity. These companies will track down the purchasing behavior of people when it comes to bitcoin, making it easier for them to come after these whales had it been proven that they are doing this.

Transactions are done in a secure environment. Just always deal only with the reputable exchanges.

Is there a chance that your credit card will be blocked? It depends on your credit card provider. Usually, some banks do have their own terms regarding crypto related purchase. So before using any credit card to make some purchase in a crypto related service, make some research first about the involved terms as you might be surprised that your credit card is now on hold.

I will definitely use Paypal and Visa card. Because it is one of the reputable businesses and they serve a lot of customers, they will definitely sell and buy at very reasonable prices.
I am waiting for them to launch crypto buying and selling services, I will save much more money and time in trading between fiat money and crypto.

If you are having money in paypal then you can actually trade it for fiat even now by using curreny exchange but it is not OP asking.

Will you make investment on crypto currency using credit car means the lend money which has high risk.

I think you can make use of any credit cards or debit cards to make purchase of Bitcoin from any crypto exchange of your choice. But I have never done such a thing before cause I'm trying to be very careful. I don't want to leave traces that shows that I'm buying and selling Bitcoin in any way. So I make use of local exchanges, I pay them and they send the Bitcoin direct to my crypto wallet. Whenever I want to sell my Bitcoin I also do the same, I go to a local exchange and I sell my Bitcoin to them and they make payments to my bank account. That way the bank will think it's just a normal transaction. But you know what's safe in your country, just do that.

I think buying bitcoin using a credit card is not very attractive to me because it incurs a large transaction fee between 3% -6% depending on the credit card and the exchange party. So I prefer to buy bitcoin by using a bank transfer because the cost is not too large so I can get more profits.

I think that buying Bitcoin by credit card is a great idea, I do it at this website: buycoinnow.com (https://buycoinnow.com). You don't have to register here, so it is quick and simple. I find it also safe, because they don't need your personal data, it is completely anonymous. Of course, if you want to trade, it is good to register on a cryptocurrency exchange, but platforms like buycoinnow could be useful sometimes.

Yes, you're right. I think that there is nothing to be afraid of when you want to buy BTC via credit card, but you need to choose the reliable platform. I used to use BuyCoinNow and it was all okay, no problems with that website

Yet they have the option available on coinomi wallet for a while now. Using the third party service simplex.
And even has a rather large button saying the very thing "Buy using credit card" right at the top of the how to get bitcoins section of the app.

It is stupid to buy bitcoins using a credit card during a bull run. Not only are you taking a risk of it dumping in price almost immediately after you buy them but you are paying interest on those coins per day of making the purchase. So it is a double  negative on you for using this method to purchase those bitcoins.

I am not using my card to buy Bitcoin because of the extra fees in transacting. Maybe PayPal will do rather than credit cards.

I think such websites like buycoinnow.com are more useful for people who plan to hold coins - it's always better to keep them on the private wallet rather than crypto exchange. But in the time of bull run, prices are usually unpredictable, so exchange account will be still needed in the end.

I do think its great idea to purchase as much as bitcoin right now. But i dont think its good to invest by using a loan. There is still a risk in your investments even though we do see market are about to recovery, before investing we need to think about the risk and for the worst scenario. The worst scenario if you buy bitcoin using a loan and bitcoin price drop is you might not be able to pay your loan and you might lose a great amout of money which is something that you cant afford to lose. Just keep in mind everytime investing, high risk high return.

It is better than what most people buy on credit cards. BTC > tvs, high end clothes, and expensive cars.  At least btc has a chance to go up in price while those consumer goods do not.  Plus you can always just claim bankrupt if things go horribly wrong.

Using your credit card for good investment, why not? It's far better than using it with other things like that and it's true that there's always a good chance to compensate with this move if you will get in and buy Bitcoin while it's moving in a good position.

Warren buffet always says "do not spend and invest the leftovers, invest and spend the leftovers", if you want to make legit investments even if you are a poor person that makes the end of the month difficult just try to invest your money into whatever you want (in this case bitcoin) and then spend the rest for living making it even more difficult to live but if you can adjust it and manage it leave it as it is, if you fail and its not possible at worst you will cash out your bitcoins.

So, there is no loss in this scenario, just invest as soon as you get your pay check and try to live, if you fail at worst you are fine but if you spend your money and try to invest whatever is left then you will most likely have nothing left at all. That is what I have been doing for years and it worked perfectly most of the time (sometimes I had to cash out a bit to be honest but that was fine).

Buying BTC with a credit card does require a large fee. I myself always use the bank transfer option, in my opinion the bank transfer is not as long as you say, maybe you use a type of transfer clearing or RTGS so it takes days. It is better if you use the bank transfer option using the RTO (Real Time Online) transfer type this does not take long, in just seconds.

I think there some card that can buy bitcoin i cant remember but i think coinbase is using card to buy cryptocurrency. And i think to others its a convinient way to buy bitcoin using cards but i think it will big charges too.

currently I have not found a secure credit card to buy BTC directly through them. But I will wait, it will soon be available on paypal or visa in the future.
With their influence, I think they will be a place for all traders to buy and sell coins there.
You know, in the black market, tokens and coins are sold at very expensive prices. Therefore, Visa has another great advantage in competition and they will definitely buy and sell at a more reasonable price.

The last time that I checked in my country, there is no credit card company that is allowing purchase of cryptocurrency directing with our debit cards because crypto is still against the law of the central bank, and until the government fully support cryptocurrency before they can also consider to permit the purchase of cryptocurrency with card.

Hough I still make fiat deposit into local exchanges with my credit card, since they are third party, I guess they already know how to work around it, so I think that is still the only way for now that you can use your credit or debit card to make payment of cryptocurrency, which is going to strictly be through third party exchanges like the local exchanges around you.

Big charges is the "norm" of using credit card to be frank. Also most of exchanges nowadays accepting credit card but very few that doesn't require KYC simply because they don't want to risk accepting unverified or stolen credit card elsewhere and sued. They prefer to keep their asses safe and be sure to not purchase using credit card if you come from a 3rd world country because you'll be surely declined (there's an exception tho).

All operations with credit cards, even when you deal with fiat, need commissions. Thus, using exchanges is much better. Cool if you have a list of trusted exchanges and monitor their exchange rates to pick the better one.

I really don't recommend that you buy bitcoin with debit card, it tried to do it once but the transaction took a long time that the price between the issuing of the transaction and when it arrived the price of bitcoin has changed by a considerable amount, aside from the high fees like 5% that i had to pay when buying , i would advice you to plan ahead and do bank transfers before buying any bitcoin so you won't lose time and potentially profit.

It boils down to timing though, it you had bought your bitcoin using your credit cards last December 2018, then obviously its good investment as the profit returns is already multiplying but today's price. But with the current price today? For me it will not be a good thing to do.

If you are thinking of using your credit card then you should realize that you are probably thinking of buying a huge amount .

For even 1 BTC you would spend more that what you would earn as profit , this is completely not good because the first law of investments is :-
Never give more for a future investment which may or may not give gains.
If you loose a descent amount of fiat , your loss will only double. Dont use it instead you can actually just lend some money from a friend and then do.

Using credit card will surely incure more charges which will not favor a trader, because you have to consider so any charges to be paid before the money finally gets to destination, there are so many charges already on ground, bitcoin network charge, local exchange charge trading fee, withdrawal fee and many more, if we now add credit card fee to it, it will be too outrageous, so I think it is better to use bank transfer as you said.

The issue with bank transfer is that it has to go first through your local exchange that is registered with your country’s domiciled bank, because I dint think you can just make a transfer directly to any payment system that will convert you fiat directly into the bitcoin, but we have to deposit it first into a bank that can only be provided by a third party local exchange.

With daily volatility reaching up to 20%? Cannot agree with you.

Not only that, but you usually pay exorbitant fees with credit card purchases, and buying crypto with them is basically buying on margin except with a much higher rate of interest.  There's no way in hell I'd use a credit card to buy crypto, not even in the hottest of bull markets.  A debit card, yes.  A credit card, absolutely not.

Unfortunately there are doubtless many folks who think bitcoin's price can outpace whatever interest the CC companies charge, and those are the people who end up buying bitcoin at the top.  That kind of thing happens in every bull market.  I recall in 2017 there were people selling household possessions (including their house) to buy bitcoin, and I found that crazy.  My philosophy has always been that if I can't pay cash for something, I'm not buying it.  But hey, good luck to those speculators who are doing this--but I think it's not a great thing for bitcoin in general if it pushes the price up too high too fast.

Credit card is something weird that I have never really understood, I have seen people spend it like a regular debit card and I never understood why.

I mean I know someone who literally spends all month from their credit card making themselves a debt and then pays it when he gets his paycheck, even have some leftover for cash needs. He could literally stop using credit card and live with his pay check, he does make enough for it, he doesn't need credit card at all, it is just that he uses it because he has some installments on it for couple of stuff and it is easy for him to pay with card than cash so he continues using it. So for people like him, if its not going to make any dent in your economy at all, maybe its not a bad idea at all, maybe it would work for them to invest with credit card.

I think credit cards give people peace of mind in the way that they know there is money available to them at any time of the day. I know someone who uses his credit card just for that reason.

It has gotten more difficult for the average person to make ends meet with how the income hasn't seen an increase in the last couple of years, and that while due to inflation there is like 2% less purchasing power every year.

I also know that certain people tend to use their credit cards just to buy cool things such as a new smartphone. They can't afford one directly but buy one on credit hoping to pay it all back before the 12 month period.

I personally have never used a credit card. My current debit card has an option to unlock credit card features, but that's something I will not touch. I am against spending money I don't have.

For me I have been using credit cards for bitcoin for a while now and facing no prob

What price did you buy using a card?  How do you service the credit card fees?

why would any credit card offer incentive for purchase?

It may hit one or two times but buying bitcoin every month will make us to be in very risky stage.So don't invest the money which need to be repaid soon to someone on cryptocurrencies.

Not an option where I live but considering the already high charge to just cash in using FIAT and then taking a hit from the spread to convert that bitcoins, if credit card purchases are possible, it's probably gonna be much more expensive.

Another problem with this is it's credit. What if the price tanked? I'd still have to pay my credit card whether I've already sold my btc or not so that means I'd still need to have savings to cover it in case it don't turn out like how I wanted.


Credit cards are OK as long as you have money coming in or just in case, have enough in savings to cover for payments. I use it for my monthly groceries, there are no interests, I just pay for it a month later with money I already have anyway and I get to accumulate points on my account.

The only issue is the membership fee but I got around that by agreeing to have some people "ride along" for their purchases and then charge them an interest. They got to buy stuff they'd never be able to buy installment, I had my annual fee practically "waived".

If our target to buy bitcoin is for the future and we are not going to sell bitcoin if the price is not reached the price we want, we could buy bitcoin in every month. I think that will worth to us to do that, especially if we believe that the bitcoin price will increase so high in the future. But to buy bitcoin with a credit card, I don't think that will be a good idea because I am worried for the stolen our data on the internet and in the store because I heard that would be too risky to use a credit card to buy something.

If you search around you will find that some credit card companies offer sign-up bonuses and other perks that are sometimes significant. An example is: if you spend $2,000 in the first 30 days of having the new card you receive $500 cash back. It is super tempting but that is the nature of the CC beast.


I agree! The temptation is still there though?

Also if a person used the card to buy Bitcoin with no intention of every paying back the credit card debt, that is another thing. Once the credit card company starts hounding them, they will forward the debt to a collection service. If a person knew how to haggle with the collection service they could then pay back what they owe, but the payment could be for as little as pennies on the dollar. They would still own the Bitcoin while of this is going on. Everyone else here is paying top dollar for their Bitcoins but if you were a total trouble maker I could see using credit cards to acquire a significant stash of Bitcoin in scrupulous ways.

Well, as you can see that would have been one of a horrible scenario. I have been earning bitcoin for a long time and not even spending a single dime on bitcoin yet I spent my own time and efforts for it which is a trade off, and I can honestly tell you right now I have wasted some of my time because of bad waiting period.

If I had cashed out earlier (during 13k times) then I would have good amount of money, maybe more than I actually earned, right now though since I waited too long I have lost some of my time, literally earned money but 10% of it gone because of the fall, which is not as bad as losing actual money but your efforts and time all gone to waste is also a bad feeling. Now if I feel horrible with my time being spent for nothing then think about how horrible would have been if I lost actual money that I put into crypto.

I clearly do not get that aspect too, because any credit card issuer also do so to make profit from its operation, and any credit card who would even take the risk of allowing payment of cryptocurrency would slam high charge on user for doing so against the government permission, and moreover, I am not sure any financial institution offering credit card services under government would ever allow cryptocurrency payment.

Most of the ones we can use are third party related companies with high fees, and if we consider the fee and lots of fees we will still have to pay for cryptocurrency usage, we will see that it is really not worth it to engage credit card services in our little purchase, otherwise, we might have useless the value of what we are purchasing.

I had a few friends who did this and found success from it. I believe they used Amex but also be super cautious. The rules may have changed since 2017

Any other info on what they did? Any numbers? More info?

It would be interesting to have a current list of credit cards that allow this in the USA.

When a person buys Bitcoin with a credit card do any risky purchase alerts go to the credit company?

The first rule of investing is to only invest what you can afford to lose, if you are thinking in using credit cards or any other kind of credit then it means that you cannot really afford to lose that money and if you do lose it, something quite likely taking into account that you are violating such a common sense rule, then you will be in deep trouble, I know that people are excited about the current price of bitcoin but that is not an excuse to take bad decisions with your money.

There are credit cards offered in the USA that are 0% interest for the first 18 months. The minimum payment for these is around $25 per month for those first 18 months.

The chances would be decent for making profit from the BTC halving coming soon. One could buy Bitcoin a couple months before the halving occurs and then sell shortly afterwards for profit, then pay off the cards.

The credit card companies themselves are probably beginning to buy Bitcoin or preparing to. They are probably preparing to make Bitcoin-credit cards...

I don’t think there is any restrictions. You can even make use of paxful.com. If you’re making use of paxful, all payment methods are being accepted on their platform and you don’t really have to worry about any kind of restrictions. Then you can also make use of other exchanges, if you have the Coinbase wallet you can use your card to purchase any amount of Bitcoin you want. When I started making use of Bitcoin I started with Coinbase and the other wallet that is called Xapo. Both allows me to use my cards to purchase Bitcoin from their platform.

What exactly happens if a person buys Bitcoin with a credit card and they do not pay any of it off?
Is there a bounty hunter that comes looking for them? I doubt it.

I am thinking all that happens is the card company damages their credit report and then forwards the debt to a collection agency, and that's it. That is really all they can do. Meanwhile if that person can live their life with damaged credit, they can just hold onto that Bitcoin until the price is higher, sell for fiat, and then go back to the collection agency and bargain to pay off the debt for pennies on the dollar. As long as they can make a big profit from the Bitcoin they bought, it is like both parties did well.

Their excuse to tell the credit collections is to just admit they bought Bitcoin with the cards, and they are waiting for it to go up in price. They can just say sorry can't pay this bill until my Bitcoin is of higher value. Later alligator. They own the Bitcoin, not the credit company, so really the dishonest client wins over the company. It puts the client in the drivers seat for a change?

If you remove the whole fear of having a collection agency calling you and mailing you stuff to your mailbox then you are good to do this. It is like the credit card companies are running a racquet that is powered by fear of damaging the customers credit. Isn't that their only recourse? In reality, a credit check is unfair. Requiring anyone to build a credit history and have at least one credit card, is insane. Where did credit history ratings come from in the first place? They were probably invented by the credit card companies doing all of this because a credit check was never a real thing until credit cards came out.

Those credit card companies look at the money the same way collection agencies do. If they can get back pennies on the dollar they'd be happy. The percentage of honorable credit card clients probably far outweighs the dishonest ones who would purposely buy tons of Bitcoin with no intention of paying the company back, so those credit card companies are making out like bandits already. Heck the credit card companies are probably planning to pour billions into the Bitcoin markets.

It is highly unethical and I would never do it myself but it is something to think about for the upcoming Bitcoin halving..

I usually would not buy into the idea of using credit card for cryptocurrency as it would still leave the system of cryptocurrency opened to being monitored by banks and government. All credit cards companies are licensed government agents, except few that are privately run, and if those credit card company accept the use of cryptocurrency through their system, it means they must have signed an agreement with the government first that the user data’s and transaction over crypto will be known, and this will enable the government slam tax on such person. Credit cards too will have their percentage fee that they charge for their services and this might be much too for cryptocurrency, just like was PayPal is quite high.

If big banks and institutional investors plan to buy big amounts of Bitcoin, what funds will they use?   Will they buy Bitcoin with pure cash?  Probably not. They will possibly leverage using some form of credit or a mixture of secure and unsecured debt.

Big businesses all run lines of credit in one form or another. Are any big corporations completely debt-free meaning that they never use credit in any way and they are pure cash-only or debt-free businesses?  Probably none.

Why should this be any different for us normal people?

A credit card can do a money transfer and that money can be used for anything, it is an unsecured loan after all.    It seems a very bad idea to introduce leverage into a proposed Bitcoin holding, its not the rules or fees you should be wary of but the nature of Bitcoin itself is poor when mixed with debt.
   Your idea is a gamble or bet, I would suggest you just head with a small amount to a casino and take part there.   If you are thinking well I only want to bet on Bitcoin price, I know there are places which allow a simple bet on the Bitcoin price for 2019 or even beyond.   Then you have winnings if right or a fixed loss if wrong, using the credit card to directly buy would be a worse choice.

Try to avoid buying cryptocurrencies with credit cards.
You will fall in the trap of spending money without controlling the amount of it. Also, I think that their not any current card that gives you bonus and incentives for buying crypto. Given that, there is no point in making buys with them.

people think that they can make profits in that very short time but most of the time it can backfire on them and they will stuck at the more debts to pay their credit to their banks.So we never have to take that kind of risk, because first thing to become rich is never get huge debts which put you at risk.

I know that some risk are actually worth taking, risk like investing in bitcoin is really worth it, especially when you invest at deep, but the highest risk I can take for bitcoin in as much as I love it is to risk investing with money that I know is not tied to anything, not money tied to loan, school fees or even my feeding.

I am only out money that I know is spare which I can also afford to lose. The market of cryptocurrency generally and especially that of bitcoin is too volatile to use credit card to purchase it, the only time it may be tried is when the market is already in bull run, because I believe that credit card usage will also have limit and time attached to it, and bitcoin may not have become profitable before the time the banks gives elapses.

I think credit card is still something, you can calculate how much you want to buy and how many installments you want to pay it for and calculate if you can afford it and so forth, however line of credit is a lot bigger than that, it is thousands of dollars gone in seconds if you are not lucky.

Credit cards (depending on the level of your credit card) can't be that big, you can't just spend all of the limit and suddenly have to pay right away, you can put it in 24 month installments and usually your limit is like 9 times your monthly salary so even though it is a huge risk you are taking it is not as big as loans. I would suggest everyone to spend 5% of their salary as soon as they receive it to buy bitcoins each time they get their salary and then spend the rest instead of making a debt.

The majority of replies in this topic have urged extreme caution for buying Bitcoin with credit cards. It is extremely logical to think that it would be totally stupid to risk buying Bitcoin with credit cards. However I keep challenging the notion because I'd like to explore what could be beyond the herds thoughts. For some reason I think that big businesses and also whale investors do things differently and they buy Bitcoin on credit or secured and unsecured debt....

Credit card policies are not similar in every country, sometimes fee's and interest rates of credit cards are not high in the developed world and you can get to buy a bunch of bitcoin with your credit card and increase your bitcoin holding a lot.

For example, if a guy from USA wants to buy bitcoin at 1200 dollars with his credit card he is going to buy it now and going to have to pay 101 dollars a month for example (from 15% max thanks to Bernie and AOC hopefully that is a bit over 101, like 101.5 or whatever) and that would mean that in the end you would be paying 101 per month and that is not too much money, many Americans can afford such expense and in the end you are going to have 1200 dollars worth of bitcoin and in a year it could drop or increase but you can wait until it goes up.

However, in some other countries the rates are super expensive and they make way too much money from it.

Now I understand why there is such a question, where there are certain risks of buying Bitcoin using credit cards.  If you buy Bitcoin in this way, then with the help of the banking system, the state captures all all user and cryptocurrency market relations.  I consider it unacceptable and dangerous.

There are extremly high fees on paying btc via credit card unfortunately

Mixing leverage with Bitcoin is like using oil on water, it only makes a mess of what you are doing and obscures your vision.     Use the credit card to buy goods, to buy food and petrol even but then use the money you saved by that credit to purchase the Bitcoin separately.

This is still leverage but its more controlled, less likely to incur fees and be as unbalanced

This is more like it. Nice work.

Another example: A woman in the USA takes out two new lines of credit from credit cards. Each card has $5,000 and they are both 0% interest for the first 18 months. So the woman goes ahead and uses the cards to buy $10,000 worth of Bitcoin. Bitcoin is worth about $10,000 right now, so she now owns 1 full Bitcoin! She has to service those credit card bills and it is $35 per month for each of the cards, so that is costing her $70 per month to own 1 Bitcoin. The bright side is she literally has 18 months to wait for a profit, and her profit chances probably increase because of the Bitcoin halving coming early next year.  Also another bright side is that as she makes $70 payments each month, what she owes to the credit company begins to shrink.  Even brighter, she continues to own that 1 Bitcoin regardless of anything else that happens (so whether she pays the credit card bills or not, she outright owns that 1 Bitcoin).  It is at this point where she can decide to either play by the rules and continue paying her credit card payments while keeping her 1 Bitcoin, or just blow her creditors off and stop paying but still keeping her 1 Bitcoin. She may lose her morals and get greedy or crazy and say to herself, screw this, holding onto this 1 Bitcoin is worth more than faulting on the credit card debit.

Believe it, the Tax Man has read these brilliantly evil ideas presented in this post. LOL. Don't worry I am not divulging all of the sinister possibilities and truths.

So anyways she decides to play by the rules: to make the $70 payments, she could just make a few safe scalp trades using the $10,000 worth of Bitcoin, and those quick scalps can allow her to easily make the monthly payments with just minutes of her time per month is all it would take. Of course it takes a lot of practice to successfully scalp, and many do not have that skill but if she knew how to scalp really good, she could use that 1 Bitcoin to scalp for just a few hours per week and by the end of the 18 months the whole $10,000 would be paid off. She now owns 1 Bitcoin and she never paid a dime for it, she just used her trading skills and her time for scalping her way to making small crypto riches - by using someone else's money! She used the credit cards money, her skills, paid all of the loan back on time and in full, she played by all the rules, and made off clean, legal and like a bandit.