How to Buy Bitcoin With a Credit Card—and Why You Probably Shouldn't Cc To Btc No Verification

How To Buy Bitcoin with debit credit card 2017

How to Buy Bitcoin With a Credit Card—and Why You Probably Shouldn't

is the lowest it’s been in weeks, and you may want to get in in on the action before its value shoots back up again (assuming it ever does). There’s nothing wrong with investing some money in

—but a growing number of people are using their credit cards to buy Bitcoin instead.

Depending on how you go about it, buying Bitcoin on credit can be just as safe as any other method, but it can also be downright dangerous. Here’s what you need to know about using your credit card to invest in cryptocurrency, and why you should think twice before you do.

Buying Bitcoin with your credit card is just as simple as buying with a debit card or paying directly from your bank account, though it does come with a few extra restrictions.

Coinbase, which is arguably the most popular digital currency exchange around, will happily take your credit card. The only catch is that the company only accepts Visa and Mastercard, so your American Express card won’t work. Coinbase also charges a 3.99 percent convenience fee, but that applies to both credit and debit card purchases.

Consider These Digital Currency Exchange Alternatives to Coinbase

Over the past few months, Coinbase has almost become synonymous with Bitcoin and other mainstream…

, another popular exchange that charges a slightly higher 5 percent fee on transactions. You might also consider

Which Credit Cards and Banks Support Cryptocurrencies?

Finding a place to buy Bitcoin is only half the battle, you’ll also want to make sure that your bank or credit card company is actually willing to verify the purchase. Otherwise it won’t go through and you’ll end up with nothing.

When it comes to credit cards, Visa and Mastercard both allow cryptocurrency purchases—at least for now. American Express also supports it, but limits you to $200 per day and just $1,000 per month. Chase also allows you to buy Bitcoin, though finding an exchange that takes that card might be difficult. Discover is the only credit card company that has outright banned cryptocurrency purchases, but limits you to $200 per day and just $1 Cc To Btc No Verification

Based on Your Actual Spending Cc To Btc No Verification , Based on Your Actual Spending

Let’s say you’re ready to get into this whole credit card churning thing. Or maybe you just want…

As for the major banks, Capital One blocked its customers from buying Bitcoin with their credit cards earlier this month. Bank of America and Citigroup still allow it, but told the

that they’re currently reviewing their policies. JP Morgan Chase also allows Bitcoin credit card purchases, while TD Bank explained that some sales may get rejected because of security measures already in place.

Why Buying Bitcoin With a Credit Card Can Be Dangerous

Buying Bitcoin still feels a lot like gambling. The market is so volatile. The risks (and potential rewards) are so big. So it’s important to invest only what you can afford to lose, and that’s especially true if you’re using a credit card.

In 2017, Bitcoin’s value soared from $1,000 to just under $20,000 before dropping down to around…

According to a survey released last month (via the

), 18 percent of Bitcoin buyers used a credit card. Out of that group, 22 percent of those people didn’t pay off the charges, instead saying that they planned to use the money they made from their Bitcoin to cover the cost.

It might be tempting to spend more than you can afford and assume that you’ll make the money back (and then some) as the price of Bitcoin skyrockets. But if the value of your cryptocurrency doesn’t go up (or worse, if it drops), you could end up owing a bunch of money you don’t have.

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