Buying about $250,000 in bitcoin with legal credit cards. Please help

[90benjammin]

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🙏👍✌️💀

[cptdome1]

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...

[90benjammin]

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

[90benjammin]

Anyone have any experiance buying bulk bitcoins with credit card?

[90benjammin]

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

[90benjammin]

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

[LeGaulois]

- 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

[90benjammin]

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!!’