How to Buy BitCoin with a Credit Card
…and why this is potentially one of the easiest Manufactured Spending techniques around at the moment.
By now even your Grandma is asking ‘how do I cash in on this CryptoCraze?’. You might not have the vaguest idea of how BitCoin works, but you can make $10 by ‘Investing’ as little as $100… Which can be funded by a Credit Card.
The Catch? You’re looking at $4% Credit Card fee and a $1.00 CoinBase fee. Plus a 2% fee to withdraw to US $ if I’m not mistaken. However, the fee might vary depending on your currency type.
I’m not sure why my Fee % isn’t as high as the 3.99% they advertise… I used a Chase Ink card FWIW. Barclays or Capital one and others will get you 2% – in cash back rewards . With the $10 fee and $1 coinbase fee- You can invest $250 and be sure to get your money back – when you factor in the cost of the credit card load and the fact that they give you $10 immediately. The process of verifying your identity and purchasing one of the 3 E-Currencies CoinBase offers took about 5 minutes.
My Advice? Invest only when you’re pretty sure that its gonna go up 2% to cover the difference (see pic.)
– Easier said than done of course, but if you watch the dips and dive (Beta) of a Stock (or Coin) you can semi-predict when its ‘Low’ vs peaking during the day… And then Hold on to it for a while, forget you own it, and wake up in 2025 with thousands of dollars in virtual currency to retire on.