RE: Buy Bitcoin with a Credit Card on Bitstamp and Exchange to Steem with BlockTrades!

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Buy Bitcoin with a Credit Card on Bitstamp and Exchange to Steem with BlockTrades!

in bitcoin •  7 years ago 

Good advice on staying away from the credit card transactions Jerry. You'll be gouged with way too many fees. I do wonder about a few things, though.

  1. Could you buy Bitcoin using a bitcoin based credit card? Sort of like buying itself. Probably not but its a curious idea.
  2. If you get rewards points on your credit card, it could help mitigate the fees. But watch out. Using Coinbase I was charged a hefty foreign transaction fee on top of the higher Coinbase fee for using a credit card. I was hoping my 1.5% points would offset the Coinbase fee, but since the third party company they use is in England, not so much. What really irked me was there was no disclosure.

I think you're better off investing what you've already earned. You'll make better decisions at every step.

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