Buying btc online with creit or debit cards

[BTCool]

I want to make a site where people can buy btc online with credit or debit cards. No trading. What are the pros, the cons the risks? Is it even possible?

[1714099539]

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[1714099539]

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[1714099539]

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[funchiestz]

I want to make a site where people can buy btc online with credit or debit cards. No trading. What are the pros, the cons the risks? Is it even possible?

In my opinion, providing service to selling bitcoin via credit card is quite very challenging. It will invite many hackers use fraud credit card to buy your bitcoin. The real owner of credit card will do charge back and it will make you end up losing your bitcoin.

[roslinpl]

I want to make a site where people can buy btc online with credit or debit cards. No trading. What are the pros, the cons the risks? Is it even possible?

It is possible for sure. You can build that.
But finding a customer who will trust this kind of service will be ultra hard.

[firejuan]

Coin.mx currently allows CC purchases for BTC.  You have to shoulder the 3.5% fee.  It does allow trading so it is similar a traditional exchange.

Edit: I also believe it is only for US customers.

[sorryforthat]

Coin.mx currently allows CC purchases for BTC.  You have to shoulder the 3.5% fee.  It does allow trading so it is similar a traditional exchange.

Have you or has anyone tested this here? Would some feedback before I give it a shot
Posted from Bitcointa.lk - #A9DUlowf9cMxhUoI

[mintodev]

Why not? You can able to buy, but very high costs. Using credit card you can buy with paypal at localbitcoins.

[gmx95]

I want to make a site where people can buy btc online with credit or debit cards. No trading. What are the pros, the cons the risks? Is it even possible?

Actually I think it could be easier and better to buy through trading. You get market rates and plenty of payment options including credit and debit cards.

[polynesia]

I want to make a site where people can buy btc online with credit or debit cards. No trading. What are the pros, the cons the risks? Is it even possible?

Cons - The high transaction charges.
This model will collapse if the volatility of bitcoin decreases.

[zolace]

This is why They ask for paper work to make sure your the right person, there are many scammer who get hacked cards and if you dont do the proper verification your going to get scammed alot, trust me

[blumangroup]

The pros are that you will be able to charge a huge markup on the market price of BTC

The Cons are that you will only be able to sell small amounts

You are going to risk getting scammed from buyers

[joshraban76]

Being that the customer will always have the option of charging back after they get the coin, I dont think its a great idea. I mean I would love to be able to buy coin with a cc like a paypal debit would be great. But the risk you would take as a seller I dont think your profits would outweigh the risks IMO

[Dread Pirate Roberts]

becarefull if you purchase or put your information data in unfamiliar website . they just people . they can get money in your bank . and take all to buy another digital money . and cash out with real money . if you still want to this better in btc-e or bitstamp . they are good and have a lot  high reputation rating
good luck.

[IMPORTANT NOTICE]

Coinbase should be good enough. They accept visa card deposits from US customers. I believe you have to be an account holder for a certain amount of time though before you have the ability to buy with a card. Buying with a bank transfer is much easier, you should have your btc in about 3 business days. US only though 

[forsakenpnut]

Of course they could easily chargeback.

[joshraban76]

Coinbase should be good enough. They accept visa card deposits from US customers. I believe you have to be an account holder for a certain amount of time though before you have the ability to buy with a card. Buying with a bank transfer is much easier, you should have your btc in about 3 business days. US only though 

As far as I know the CC is only a backup funding source to enable instant buy. The purchase will withdraw from the bank account and only use the credit card if the transaction is denied for some reason by the bank.

[SHA255]

Coinbase should be good enough. They accept visa card deposits from US customers. I believe you have to be an account holder for a certain amount of time though before you have the ability to buy with a card. Buying with a bank transfer is much easier, you should have your btc in about 3 business days. US only though 

As far as I know the CC is only a backup funding source to enable instant buy. The purchase will withdraw from the bank account and only use the credit card if the transaction is denied for some reason by the bank.

This is correct. There are very few sites that will allow you to actually your credit card to buy bitcoin and the ones that do charge a huge markup due to the massive fraud risk.

[yitingyou]

Coin.mx currently allows CC purchases for BTC.  You have to shoulder the 3.5% fee.  It does allow trading so it is similar a traditional exchange.

Edit: I also believe it is only for US customers.

agree.

[CryptoHeaven]

Higher fees and chargebacks are two main concerns that you may need to workout.

[oceans]

High fee's and the possibility that you may attract hackers or even credit and debit card fraud are all things I can think of that you would have to find a solution for. Even with banking like we have now you get all these kind of problems and with bitcoin still being at it's early stages it may be a lot easier for them to find a way around.

[rikkejohn]

Bank transfer is safer. I get mine within 2 working days, usually the same day. If I could be bothered going to a branch of the trader's bank, I would get the same day.

Have a look at what the competition is in your region, and see if you can beat it.