Author Topic: Crypto currency and using your credit card to buy it!  (Read 855 times)

Offline uflitgator

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Crypto currency and using your credit card to buy it!
« on: November 24, 2017, 11:53:54 AM »
 Has anyone here dabbled in the crypto currency? Bitcoin etc.?  The website coinbase.com will allow you to buy crypto currency through your checking account and also through your credit card. The credit card purchases are limited at first but eventually they allow you to increase your limits. Anyone thought of this as a way of also building points?

I'm surprised no one is talking about this on the forums.

 When your credit card is charged it is charged as a purchase and not as a cash advance. Any thoughts?

Offline 12HRS

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Re: Crypto currency and using your credit card to buy it!
« Reply #1 on: November 24, 2017, 12:09:32 PM »
because all point gains go out the window when the market goes down. its been talked about here before.

Offline uflitgator

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Re: Crypto currency and using your credit card to buy it!
« Reply #2 on: November 24, 2017, 12:15:41 PM »
Thanks for the note. I did search for this before and didn't see anything. I am long on this so I look at the investment separately from the points earned.

Offline mmgfarb

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Re: Crypto currency and using your credit card to buy it!
« Reply #3 on: November 24, 2017, 12:18:11 PM »
They don't charge a fee to use your credit card?
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Offline 12HRS

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Re: Crypto currency and using your credit card to buy it!
« Reply #4 on: November 24, 2017, 12:18:18 PM »
Thanks for the note. I did search for this before and didn't see anything. I am long on this so I look at the investment separately from the points earned.

search around either bitcoin or the investment thread. If you are long anyways and planning on investing go for it

Offline ludmila

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Re: Crypto currency and using your credit card to buy it!
« Reply #5 on: November 24, 2017, 12:25:43 PM »
There is a very wide spread between buy and sell, plus Bitcoin is in Tulip mania territory, up from $890 to $8230 in 7 months, if there is a mania waiting for the bubble to burst , this is it. Those who both early and are selling at the current prices made a fortune, those who stay in and or buy now are flipping a coin for a little more upside, but when -not if- the bubble bursts ------.
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