Reason for buying bitcoin with credit card is not easy

[Mcd0d0 5882]

On 3/2/2020 at 5:14 PM, Sheuly said:

Shopping for Bitcoin by debit card seriously isn't always easy. For the reason that lots of locations really don't admit cryptocurrency authorisation. Hence consumer credit are not to be relocated without difficulty
Nonetheless certainly we will buy from confidential.

This is true mate, not all the stores are accepting cryptocurrency and this is very difficult to do, it needs some adoption before they accepted it. Happy posting everyone.

[jacker 1095]

I know buying bitcoin with paypal is possible, but my country is strict with paypal, so this is something I have never tried. I have heard about buying bitcoins with a difficult credit card but it is probably part of the country's policy and user-provided information.

[Gaurav kumar 972]

Yeah i also feel so that there are many complications that come when we try to purchase cryptocurrencies by credit card. But once it can be purchased then it becomes easy for the person but and sell and invest Bitcoins.

[Bruno52 1141]

This is a sad situation because buying crypto currency with credit cards or PayPal accounts would have made it easier to exchange, trade or invest and make profit.

[NevermindNe 549]

This works for me personally in my country since chargeback is still practically not implemented and there is no question of any cancellation.. 

[scorpiali 5626]

It;s really very hard to buy with your credit card ,I have face this problem many time and finally find the solution with the bittrex exchange you can deposit USD to the exchange by your credit car and then buy bitcoin with your usd 

[Nab 263]

buying bitcoin by credit card is a good option although i prefer to send from my coinbase wallet the satoshis i have earned from some faucets, i haven´t bought bitcoin by credit card yet as i don´t have one but most exchanges accep payment by visa or master card.

[Saboor 511]

Sometimes it is safe to do transaction with your credit card with trusted exchanges, so that you won't fall victim of scammers in the community, using credit card for buying coins need verification and this is another problem of it

[ETheHedgehog 3104]

it's because most banks as well don't deal with crypto currencies because they aren't legal and they are very volatile

[Kamila 291]

I have also heard that paypal does not work with suspicious exchanges, so this may be another reason why there is no Deposit with paypal on some exchanges.

[Treat1234 0]

On 2/4/2020 at 10:59 AM, Sharoncott said:

Surprisingly, it's still not easy to buy bitcoins with your credit card or PayPal depending on your jurisdiction.

This is because such transactions can easily be reversed with a phone call to the card company chargebacks. Since it's hard to prove any goods changed hands in a transfer of bitcoins, exchanges avoid this payment method and so do most private sellers.

If one can not purchase Bitcoin with credit card or is difficult to purchase it with credit card? What is the easiest way to purchase Bitcoin aside credit card or PayPal . I know of a site that operate in my country they do sell and buy Bitcoin through credit card.

[Thekingcallme 1975]

In order to purchase bitcoin using a Visa card, you must have done your account through kyc and this is necessary to allow you to purchase crypto from the platforms.

[BTC Future 3946]

On 5/17/2020 at 12:29 PM, Saboor said:

Sometimes it is safe to do transaction with your credit card with trusted exchanges, so that you won't fall victim of scammers in the community, using credit card for buying coins need verification and this is another problem of it

If you fall victim to credit card fraud it is better to contact your bank. 99% of the cases people get their money back, otherwise the bank will notify police on the scammers account. Well if they are proven to be scammers police in his area will get notified anyway. Credit card fraud is not treated lightly.

[Wilmer Garcia 0]

So you're right it's still very difficult to buy Bitcoin (BTC) with credit cards but there are different methods with which we can buy Bitcoin also depends on the country where we live there are very secure and trustable websites where we can do it 

[Kawuak 142]

Purchasing bitcoin is not an easy task especially for the countries who are yet to legalize the use of Cryptocurrency, I think the best way is to make use of popular exchangers like yobit,Binance, Coinbase etc because they are more reliable.

Purchasing bitcoin is not an easy task especially for the countries who are yet to legalize the use of Cryptocurrency, I think the best way is to make use of popular exchangers like yobit,Binance, Coinbase etc because they are more reliable.

[Moaz 7239]

Yes, that's right, buying bitcoin using a credit card is somewhat difficult, but I personally do not prefer this method nor do I use it, if you want to buy bitcoin there are many ways that are much easier and much better and that is through the Yobit platform

[P A Ashif 2409]

I don't think that I can buy Bitcoin using my credit card because India has started accepting cryptocurrency now only. So the banks will not allow to make credit card transaction to buy Crypto coin

[Saboor 511]

On 5/28/2020 at 12:52 PM, BTC Future said:

If you fall victim to credit card fraud it is better to contact your bank. 99% of the cases people get their money back, otherwise the bank will notify police on the scammers account. Well if they are proven to be scammers police in his area will get notified anyway. Credit card fraud is not treated lightly.

How will the money be back to them, those that mean that the bank will take the responsibility of the loss that happened?. Most of those scammers has their ways out and also they have a way of not getting themselves to be tracked unless it is a novice scammer.

[BTC Future 3946]

1 hour ago, Saboor said:

How will the money be back to them, those that mean that the bank will take the responsibility of the loss that happened?

The banks take responsibility, unless it is proven that it was their customers mistake. All transactions in the banking system are either coming from a card or an account to another bank account. This is how the traditional system works. Usually when processed by the banks most of the scam transactions are not proceeding. They won't get authorization or won't proceed with the deposit. If some of them do manage to go through then they get reversed by the bank. Reversal means that the money return to their original position. If the scammer has already withdrawn the stolen funds from his account then the owner of the account will be contacted by the bank to fill the amount and if he doesn't then the cops will be asking him next. 

So only way a scammer can get away if he has managed to create an account using stolen credentials like ID, passport, and other private information like what is being sold on the darkweb markets. Then he should somehow manage to withdraw or spend the money without leaving a trace on who he is and forget about his account completely as it will be blocked by the bank.

 This is the main reason noone should be senting any private information online.

Edited May 31, 2020 by BTC Future

[Dark_Sky 8489]

On 2/4/2020 at 8:21 PM, Maxtron73 said:

Well i think it's not easy only for some countries to buy bitcoin and cryptocurrency with your credit card, since their countries do not permit you to do so.

 

That's right there are some countries who did not approve that so that's a problem for the most of people. 

They are lucky to consider when they can cash out currencies. 

[Saboor 511]

1 hour ago, BTC Future said:

Reversal means that the money return to their original position. If the scammer has already withdrawn the stolen funds from his account then the owner of the account will be contacted by the bank to fill the amount and if he doesn't then the cops will be asking him next. 

Reversal can be made. But let's take this into consideration, the fund that can be reversed are not up to 10% of the total money been stolen, some of them are used to buy games which will be downloaded immediately which means no reversal here, some use it for gift card in which they activate it instantly. Some use it to buy bitcoin and others which can't be reversed either. And for Bitcoin he can't be tracked 

[BTC Future 3946]

 

8 minutes ago, Saboor said:

Reversal can be made. But let's take this into consideration, the fund that can be reversed are not up to 10% of the total money been stolen, some of them are used to buy games which will be downloaded immediately which means no reversal here, some use it for gift card in which they activate it instantly. Some use it to buy bitcoin and others which can't be reversed either. And for Bitcoin he can't be tracked 

The bank always gives the money back 100% to their customer in case it was credit card fraud. They have systems that prove if it was on or if it wasn't. Basically any customer that uses credit/debit card can ask for a reversal any time he wants. It can be proven if he made the transaction or if it was a case of fraud. In rare cases that this can't be proven or that the bank thinks that their customer is lying they won't pay him back.

 

Bitcoin can be tracked. It is transparent and everything is permanently recorded on  the blockchain. This was the reason Vinnik was arrested along with major darkweb pages being brought down. Even with the use of coinjoin mixers and tumblers still the transactions can be linked at an 80% rate.

Edited May 31, 2020 by BTC Future

[Saboor 511]

8 hours ago, BTC Future said:

The bank always gives the money back 100% to their customer in case it was credit card fraud. They have systems that prove if it was on or if it wasn't. Basically any customer that uses credit/debit card can ask for a reversal any time he wants. It can be proven if he made the transaction or if it was a case of fraud. In rare cases that this can't be proven or that the bank thinks that their customer is lying they won't pay him back

I haven't experienced this that was the reason I don't know anything about it. But if that is the case then they are doing a good job for the citizens that are been hacked.

 

8 hours ago, BTC Future said:

Bitcoin can be tracked. It is transparent and everything is permanently recorded on  the blockchain. This was the reason Vinnik was arrested along with major darkweb pages being brought down. Even with the use of coinjoin mixers and tumblers still the transactions can be linked at an 80% rate.

But what about those using bitcoin as a payment method on the dark web. What will be their fate in future?

[Bohana 2143]

On 2/4/2020 at 11:59 AM, Sharoncott said:

Surprisingly, it's still not easy to buy bitcoins with your credit card or PayPal depending on your jurisdiction.

This is because such transactions can easily be reversed with a phone call to the card company chargebacks. Since it's hard to prove any goods changed hands in a transfer of bitcoins, exchanges avoid this payment method and so do most private sellers.

I think the main reason for this is that Bitcoin transactions cannot be traced. So if someone scams, the Bitcoin balance will be lost or stolen.

[nykas 2812]

As far as I know Binance added feature of buying cryptocurrency with credit cards and now it`s easy to buy crypto. Fee isn`t low there, but it`s still more comfortable to buy crypto such way