How to Buy Bitcoin with a Credit Card
There’s been much kerfuffle lately about Bitcoin. Is it finished? Is it just beginning? Is it the future? Will AI use it to end us all? Should you buy the dip? Let’s examine these concepts one by one, starting with the most interesting ones
Will Bitcoin start an AI revolution that will end us all?
With AI on the rise and developing so rapidly that we can’t stop it now even if we tried (AND it’s excluding humans from the process already), that’s actually not an unreasonable question.
If robots wanted to end humankind’s reign, they would probably need money to buy equipment, and what’s better for that than Bitcoin and its derivatives?
But we actually have it on good authority that AI won’t destroy humankind (interview below), so making friends with smart contracts, chatbots, and Midjourney is pretty safe: who doesn’t want a future with infinitely cool toys (you know what we mean) and smart money?
If things do go south, though, it would still be better to be on their good side.
Is Bitcoin dead?
This 64% drop from around $68 000 to around $24 000 isn’t actually the first in Bitcoin’s history, and it’s survived worse and steeper collapses. There’s no reason to think Bitcoin is dying! It’s just napping.
Will it rise in price?
Now, with global adoption, much favorable treatment around the world, and statistics that show how effective and helpful crypto is for businesses, there is serious merit to thinking that there’s a bright future for Bitcoin (and other cryptos that, as a rule, follow suit).
For now, we’re only using less than 1% of its capacities. Imagine how popular it’ll be when we come to at least 50%!
Should you buy the dip?
Now, that’s a good question. This is by no means investment advice, but you may want to weigh the pros and cons of buying Bitcoin while it’s cheap.
Savvy investors make a lot of money when assets are at (preferably all-time) lows. It’s actually a little late already: Bitcoin is already rising in price again, but there’s still a long way to go back up to $68 000! And a lot of profits to be made (theoretically).
If you do make up your mind, here’s how to buy Bitcoin with a card.
Food for thought: buying crypto with a card makes it very traceable, with all that entails. DYOR!
Should I buy crypto with a credit card from an exchange?
Buying crypto these days is made very easy with plenty of major exchanges, crypto cards etc.
For a variety of reasons, you’ll still want something like a receipt, and preferably more than one, and to have some sort of protection in place. For that reason, the most promising way of buying crypto is finding exchanges like Binance and Huobi, which have some uptime and good ratings, and taking advantage of their security systems.
You still shouldn’t keep your money on exchanges for more than 15 minutes at a time. Still, no one is providing reliable statistics that show that either individual or cold wallets are breach-proof. The truth is, no one is 100% safe, so our advice is: to keep some crypto, some cash, some money in the bank, some precious metals, and some bonds, and generally diversify well. All things considered, centralized exchanges with some time in the business and a good rep aren’t so terribly unsafe, and they will probably even give you their money back if something should happen as Binance did.
Buying Bitcoin with a card at Huobi (for example):
- Go to exchange website
- Register
- Verify your account (the dreaded KYC will rear its ugly head, but it’s not too draconian, so no worries)
- Set up 2FA, and get Huobi to send you an email to verify you are who you are, as well as an SMS
- Contemplate getting a flash drive that locks your PC when you take it out and wearing it around your neck
- Follow the instructions to use your credit card to buy crypto.
