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I think the way you could probably do this is that you could let people buy using credit cards, but then not actually give them the bitcoins until the credit ca
by dangero 13y ago
I think the way you could probably do this is that you could let people buy using credit cards, but then not actually give them the bitcoins until the credit card chargeback timeline expired. The risk is obviously that as the exchange operator you become a bitcoin speculator because you're holding bitcoins that may not end up being paid for by a customer, so not a good idea with the volatility we are seeing, but I think that's the only way credit cards would work.
- RussianCow 13y agoIsn't that period something like 60 days for some credit card companies? That doesn't sound feasible at all.
- dangero 13y agoI think it depends on why people are buying the coins. If they are buying them to hold them, then it does not really matter. I think there are a lot of people out there who just want to quickly grab some Bitcoins and hold them for the long term. Often times for those people their biggest concern is getting in before it goes up any more, so this would be a solution for them.
- RussianCow 13y agoBut if you're going to be holding onto them for years, an extra couple minutes to link your bank account to Coinbase shouldn't be a big deal. The difference in price over the initial two day validation period is going to be negligible over the course of 5 years.
- kissickas 13y agoCoinbase seems to be incompatible with my bank account (a credit union).
- abus 13y agoIt's 6-12 months.
- matponta 13y agoI see. Thanks
- maaku 13y agoAnd wait 6 months? No thanks.