Minimize Fees – Avoid Using Credit Cards When Investing.
Investing in cryptocurrency using the credit card is not smart. If your investing this way it cuts into your bottom line pretty badly and has cause a critical situation for some. If your borrowing money in such a volatile market it can cause a lot of stress but no matter what credit cards will charge you monthly interest which you can’t say NO to.
You will never know how much profit you may earn by investing as the value of the cryptocurrency is unpredictable.
Now Credit Card Companies will also start to charge a separate cash advance fees that your bank will charge and you know as investors a goal is to minimize fees and expenses.
This post is base on coinbase email advisory it sent out to all of its customers
Coinbase Feb 15https://blog.coinbase.com/update-on-credit-and-debit-cards-4c08273f0039
You will never know how much profit you may earn by investing as the value of the cryptocurrency is unpredictable. This is a gambling way of investment and it’s better if you will invest with amounts you own, for example from your checking or savings, and also go with modest amounts that you can afford to lose.
This simple reminder is base on what I’ve experienced
I am Alex Stoneham, an Amateur Journalist at Digital Wallets Blog and Professional Software Developer.