Over 80% of those who bought Bitcoin via credit card jeopardize their credit history - latest poll

Firstly, it’s better to clarify the difference between debit and credit cards. Credit cards are used for borrowing money from the bank and debit cards are not. The fact that when operating with the former type of cards one actually uses the money one has to repay later (and it’s mandatory) seemingly does not stop over 80% of those who bought Bitcoin with a credit card from a very risky endeavor: they aim to repay the sums used for buying Bitcoin with the revenue they just might make on the future price growth.

“But wait!” - any serious or careful investor might exclaim here. “What if Bitcoin goes down instead?” Yes, it certainly can, but even this sword of Damocles in addition to the fact one always has to pay debts does not stop those who answered to the LendEDU’s poll. According to the data provided by this company, it has polled 672 active Bitcoin investors. This is not the only result they got, of course: at least, only 18.5% of those polled bought Bitcoin with their credit card, and 33.63% used the debit one. However, researchers note that even with the debit card there are still conversion fees one always has to take in mind.

This all perfectly demonstrates the market’s current immaturity, even though Bitcoin has had great price achievements and Wall Street institutionalization via futures lately.