Using credit cards to buy bitcoin in the bull run

[nutella_11]

I think that buying Bitcoin by credit card is a great idea, I do it at this website: 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.

[cered]

I think that buying Bitcoin by credit card is a great idea, I do it at this website: 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

[rdbase]

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.  

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.

Buying Bitcoin during bullrun via creditcard made me laugh, but honestly its hard that you need owe just to invest and its not practical in any wat since you double the risk. Well if you have the guts why not? As matter of fact most of us loves to risks.

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.

[Ranly123]

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

[Mr Zet]

I think that buying Bitcoin by credit card is a great idea, I do it at this website: 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.

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.

[indrakusumaindra]

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 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.

[Indamuck]

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.

[Fredomago]

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.

[FanEagle]

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).

[MadeinCoin]

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.

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.

[Vness10]

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 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.

[ichai]

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?

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.

[guoyu78]

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?

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.

[TastyChillySauce00]

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 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.

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).

[legenduim]

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.

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.

[Shenzou]

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 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.

[peter0425]

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 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.

[fiulpro]

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.

[bitgolden]

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.

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.

[Linkkoin]

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 ,

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