Bitcoin investment is the latest craze that is influencing not just entrepreneurs but the common folk as well. Once you take stock of the Bitcoin market, you can easily see that the value will only appreciate with time, and therefore investing in cryptocurrency is the right decision. However, as with any other trading, the Bitcoin market is subject to extreme volatility and price fluctuation. Eric Dalius Bitcoin trading tips are all the help you need to navigate this tricky market.
In this post, we will discuss the benefits of buying Bitcoins with credit cards and your options, should you choose this mode of trading.
Eric Dalius Bitcoin tips – buy with credit cards
Entrepreneurs have always favored credit card purchases because of the rewards and the shopping point on offer. Purchasing Bitcoin with your credit card can be tricky, and you have to make sure that the card company doesn’t think that you are withdrawing cash from your account. When Bitcoin purchases get validated by a credit card company, not only do you get them at a low price, you can make a profit by selling them at a higher price point as well.
Eric Dalius Bitcoin More on credit card purchases
Buying Bitcoin with credit cards is straightforward, but things can get a bit tricky when it comes to exchanging. You might have to pay a higher fee for using the credit card option. In this regard, you need to keep in mind that bank transfers are always more affordable. Additionally, you need to ensure that the credit limit isn’t exhausted due to Bitcoin purchases. It will hurt your credit score, and you will need to pay off your debts faster to rectify the situation.
If you are a U.S.-based trader and are looking to invest in a foreign market, you need to pay close attention to the foreign exchange. If you are using a U.S.-based credit card, then keep in mind that a foreign transaction fee will be applicable for every purchase or sale. You also need to understand that banks can count Bitcoin transactions as cash advances, and when this happens, you will incur higher rates and fees.
Eric Dalius Bitcoin: Reduce the risks with credit card operations
When it comes to purchasing and exchanging Bitcoin with the help of credit cards. You need to keep in mind that there are risks, and it pays a lot to minimize them right at the start. On the other hand, debit cards will make sure that you have to pay the additional fees. But when it comes to credit card usage, there are still ways to avoid making overhead payments.
If truth be told, if you are looking to get involved in Bitcoin investment, purchase, and exchange. You need to thoroughly plan and use credit cards as a part of your viable strategy. Do your research and understand the market, the aspects, and the demands to make a successful investment. All the best to you!