Why you shouldn't use credit cards to buy bitcoin

I personally don't use credit cards. I don't use them because I don't have the discipline or the financial flexibility to use them effectively. I have no shame in admitting that I have not reached the point where I trust myself enough to use credit cards and just pay them off before the end of the month religiously so I don't have to pay any interest. I'm very honest with myself in the sense that I know if I don't have the cash to buy, it I can’t afford it. The whole concept of having a card instead of cash is to make it easier to spend. Too many times in the American capitalistic system people get drawn into purchasing things that they can’t afford like, cars, and houses as some of the big-ticket items. But people also over indulge in clothes, shoes, and items for their home that they don't really need, that can give them a return. Most of the money people waste on material items have no possibility of bringing them a return on investment.

Understanding needs and wants is an important factor in deciding what a person spends money on, and how much is spent on that item. You need to invest, or you want to invest? Investing is a want until you have the financial flexibility to do it comfortably without hurting yourself in the process. I have heard this so many times and it remains a singular truth "Only invest what you can afford to lose". I see advertising on the internet with companies or exchanges offering to allow people to buy bitcoin with a credit card. I just think this is a bad idea. Imagine if you bought steem two months ago on a credit card looking for a quick return. You would be taking a huge loss. I’m not talking about how much you can earn from delegating steem power or what you can earn from publishing articles. Simply just from a buy and hold aspect, right now the person that bought altcoins on credit would be making a bad decision

https://www.buybitcoinworldwide.com/en/buy-bitcoin-credit-debit-card/

Coinbase allows new customers to buy bitcoin with a credit card but they will only allow you to buy small amounts like $5-$10 worth. I don't suppose that amount could really harm someone. My first purchase of bitcoin was on the coinbase exchange I used a debit card which is connected to my bank account. Coinbase considered this to be a credit card and only allowed me to purchase $5 of bitcoin per week, that was my limit.

Credit does present many opportunities and advantages if it’s used correctly with discipline. But bitcoin and altcoins are volatile and I would only use cash to invest in these opportunities. If the price of bitcoin goes down you don’t have to worry about owing anyone you can wait patiently until bitcoin goes back up and there is no pressure.

https://clubthrifty.com/are-credit-cards-always-evil/

I would like to hear your feed back on this topic. Should we use credit cards to buy bitcoin?