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Author : Crypto Income Staff 10 August 2017
Genesis Mining – This popular cloud-based mining operation based in Iceland has a great reputation. It also accepts Visa and MasterCard payments. HOW MUCH CAN BITCOIN YOU BUY WITH CREDIT CARD (UPDATED AUGUST 2017). Exchanges, due to the credit card chargeback risk, always impose a higher fee on buying Bitcoin with a credit card. Usually between 3 to 4 percent. However, you get Bitcoin RIGHT away without having to wait days for a bank transfer or wire transfer to go through. Here’s HOW MUCH you can buy with credit card as of August 2017. CEX.IO. $300 per day; $1000 per month (*not verified). $3000 per day; $30,000 per month (*verified). $10,000 per day; $100,000 per month (*verified plus). COINBASE. $250 per week (*new account). $1000 per week (*after a few weeks). COINMAMA. AT HTTPS://WWW.COINMAMA.COM/?REF=THENOMADMARKETER $5000/month (verification required). Some Tips for Buying Bitcoin with Credit Cards. Even though purchasing altcoins with a credit card is easy and fast, it can be expensive and sometimes complicated. Even some of the popular exchanges have a reputation for poor customer service and high fees. Here are a few tips that can make life easier when buying bitcoin with your plastic. Use a well-known wallet with a good reputation for customer service. Be especially leery of new solutions and those based in smaller countries.
Make sure the provider has a means of contacting support or management; such as direct email, available. Consider storing your altcoins offline in a bitcoin hardware wallet. That way you will not lose them if something goes wrong at the exchange. Some of these storage devices are available from Amazon. Try to make fairly large purchases if you can; because the fees can add up fast. Get a separate credit card for altcoin purchases and only use it for that purpose. This way you will not put all your finances at risk; if the wallet or exchange’s security is breeched. Read your credit card statement each month. Look closely for hidden fees and extra charges you did not make. Check out the reputation of the wallet or exchange online before you entrust your credit card information with it. Make sure that you have a means of quickly transferring your funds into another account. That can make it easier to get your money back if something goes wrong. Consider using a number of different of wallets or exchanges until you find one you really like. Try not to use a debit or credit card linked to your checking; or savings, account when you buy altcoin online. If you do you might be putting your funds or account numbers at risk for theft. If possible make purchases with bitcoin because you can avoid paying fees. There are some retailers that accept bitcoin including Dell and Overstock.com.
Try to avoid Bitcoin ATMs because the fees they charge can be expensive. Altcoin automatic teller machines can also be very hard to find outside of major cities. Make sure that you have a bitcoin wallet app on your smartphone because it can make life a lot easier. Do as much research as possible, because what you do not know about altcoins can hurt you. Get a wallet that accepts bitcoins and other altcoins; such as ethereum and litecoin. These coins are becoming more widely accepted and are often much cheaper than bitcoin. Consider using extra bitcoins; and proceeds from trading, to purchase ethereum or litecoin. Since those coins are cheaper than bitcoin you might get more “bang for your blockchain.” THE FUTURE OF CREDIT CARDS AND BITCOIN. The best possible development for altcoin users will be a credit card or debit card; that will automatically convert altcoins such as bitcoin into fit currencies, like dollars. Such a card is technologically possible right now; Visa now accepts payments in 160 currencies. A Singapore company called TenX claims to have a Visa that will automatically convert Litecoin, Bitcoin, Dash and other cryptocurrencies into government money. Unfortunately the big credit card processors are leery of altcoins; because most governments do not recognize them as legal currencies yet. More governments; including that in Australia, are legalizing bitcoin – so it might just be a matter of time before bitcoin is accepted as official money in North America. There will probably come a day when all credit cards will offer bitcoin payments as option. Until then you can save money and make life easier by buying bitcoins with a credit card.
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