Is it smart to max out all credit cards months to buy BTC?

[KevinHD]

You're too late to withdraw your balance in credit cards just to invest it in bitcoin. Bitcoin's price as of now would remain stable on it and might slowly breakdown because many would withdraw their bitcoins as they were scared that bitcoin is accused as a bubble. So dont ever convert it just for bitcoin.

[cryptotask_support]

You're too late to withdraw your balance in credit cards just to invest it in bitcoin. Bitcoin's price as of now would remain stable on it and might slowly breakdown because many would withdraw their bitcoins as they were scared that bitcoin is accused as a bubble. So dont ever convert it just for bitcoin.

.This.

Too late to get good ROI on bitcoin, maybe through altcoins, but thats an another story.

[btcprospecter]

Nothing ventured nothing gained. It might be late for doing this with solely bitcoin it is a calculated risk only you can decide looking back I should have done that myself earlier this year but it could also have gone the other way.

[joebrook]

Buying bitcoins with credit cards has never been a good idea and i am strictly against it in every regards. There are going to be a lot of charges from the bank and from the credit card. I honestly think you should just close your bank account and withdraw your savings to buy the bitcoins rather than max out your cards.

[colonel_koval]

Hi,

Just to use all the money in your credit cards to buy some BTC and then before the grace period pay them back and repeat. If I am not wrong, this should give you a very nice profit say for a total amount of $20k between 7-8 credit cards plus good credit and all the cachback and points each CC have.

Is this smart?

Anyone does this?

And more important which exchanges allow you to use credit cards? Or is it better to buy using paypal and fund it via the CCs?


Thanks in advance.

Actually it is the dumbest idea I have ever seen or heard, maybe with the exception of taking mortgage for the house you and your family live in and buying bitcoin with that money.

Ideas like this may me consider selling all the bitcoin I have...

[Rsj91]

Max out your credit history is no where good as per financial aspect. Maybe just my thinking as banks monitor your financial history and see you to be under credit all the time

[carrie_white]

I think max-all credit cards months to buy BTC is a bad thing, because bitcoin is something very unstable, and very volatile, we will never know what will happen with bitcoin in the future