The credit card is the bane of the modern world. The promise of quick cash and its instant availability in almost unlimited amounts fuels consumerism and gives average people the funds they need to keep on buying. The caveat is that the credit card bears a very unsightly and callous secret that is hidden in plain sight. There is no such thing as a free lunch and the interest that comes with every purchase means that every penny will have to be repaid and extra on top of that to cover the benefit of having such a card at hand.
Credit is used to buy anything from groceries and appliances to cars and real estate. Online sales are thriving with credit cards being used to fuel digital marketplaces. The cryptocurrency industry has not been left unaffected by the credit card craze either, as users rushed to buy up digital asset collections on credit in expectations of profits that would cover interest.
The saddest part about the use of credit cards for the purchase of cryptocurrencies resides in the instability of exchange rates of the latter. Be it a wallet on Coinbase or Binance, the repository for cryptocurrencies is irrelevant, since no matter where they are kept, the assets will depreciate if the market dips. And the market has dipped in 2022 with the global geopolitical situation deteriorating and turning from bad to worse. And still, despite the ongoing crypto winter, people are still tormenting search engines with queries “can I buy Bitcoin with credit card?”
Where to Buy And How
The cryptocurrency-oriented exchange is the premier venue for all things crypto related. The year 2022 spelled the doom of many exchanges like FTX, AAX, and others. Driven nose down into the mud by their greed and arrogance, the corrupt platforms vanished and eliminated billions of user funds that were sent overseas as money laundering instruments.
Of the leading cryptocurrency exchanges that remain, Binance has consolidated its leading position on the market and made a statement by bailing out some smaller projects that have joined its swelling infrastructure. This platform has all the instruments users need to make a profit, namely: A trading terminal; Web3 access; Wide range of tradable instruments; Convenient login; Mobile support.
The cryptocurrency you are interested in buying will likely be present on the exchange, since its list of assets is being updated regularly and new ones are being added as the market develops. Along with Binance, some other venues like KuCoin are giving their users the opportunity to buy any cryptocurrency in just a few clicks. Most importantly, users can connect their credit or debit bank cards to their accounts and use the funds available to buy the asset they wish.
Key Takeaways
The credit card is a risky instrument, since the main rule that applies to any operations made using it sounds like “Never spend more than you earn”. Another important rule is never hoping to cover current expenses with potential future gains, since the digital currencies market cannot promise to deliver profits. The unstable situation in the world and the financial environment leave few prospects for a rebound in the near future.
