Way Too Many People Are Using Credit Cards to Buy Bitcoin
I had a discussion with a nephew who was talking about investing in crypto. I asked him, do you carry a credit card balance? He said yes. I said then why buy crypto? Sure you might get a nice return, but you can also lose money. Moreover, you have to pay taxes and transactions fees on trades. In comparison, pay off your debt, and it is like getting 15 percent return or whatever the annual rate is on a credit card these days. Well, I guess things could be worse. He could be using a credit card to buy crypto.
https://fortune.com/2018/01/13/credit-cards-to-buy-bitcoin/
The findings come from a survey conducted by LendEDU, a student loan refinancer, in December. They conducted an online poll of the payment behavior of 672 active Bitcoin investors, and found that 18.15% of them bought the virtual currency with a credit card.
Of those, 22.13% did not pay off their credit card balances. Nearly 90% of those planned to pay off the balances by selling their Bitcoin investments, implying a firm faith that the cryptocurrency’s price would continue rising. LendEDU doesn’t indicate that the survey was scientifically randomized, but its large sample size, and use of two layers of screening to ensure respondents were actual Bitcoin buyers, gives credence to its findings.
The numbers are worrisome for at least two reasons. The main U.S. cryptocurrency marketplace, CoinBase, charges a 4% transaction fee for credit card purchases. For nearly any other form of investment, that fee alone would wipe out most of any reasonably-expected appreciation. In traditional investing, low expenses are a major factor in long-term success.
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Crypto is a gamble. The returns can be higher than normal, but so can the losses. I’m seeing ads about putting your retirement savings in Crypto - lol. 
It’s the latest “get rich quick” scheme being exploited by scumbag companies that only care about making money off of clueless people. Any reputable person would tell you that, if you need to resort to charging a Crypto investment, you’re insane for doing it.
If you can’t afford to lose it, don’t invest it in risky investments. If you’re investing in Crypto, assume that money is already gone. If you make money, then that’s a nice bonus.
I can watch the documentary laying down!
And using a credit card to buy an untraceable, easily stolen virtual currency seems like an extremely terrible idea. 
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nothing so why not set your money on fire or send it to me. I'll give you three million excuses why you lost your investment in it.
