Buying USDT with Credit Card: Is it Safe?

[QamarImam]

I need your advice on something. A family member buys USDT (a cryptocurrency) every day from Binance, a popular crypto exchange, and sells it to a friend for a profit. He told me I can do the same thing using my credit card on Binance.

How it Works

Here's what he suggested:

1. I buy USDT using my credit card (Visa or Mastercard) on Binance.
2. I immediately transfer the USDT to my friend's account.

The Benefit

My relative claims that buying USDT with a credit card is cheaper than using UPI or bank transfer. Here's what he means:

- UPI or bank transfer: ₹93
- Credit card: ₹89

That's a ₹4 difference, which can add up to a decent profit if I buy and sell USDT regularly.

But is it Safe?

That's my concern. I don't want to risk my credit card or money. Here are my questions:

1. Is buying USDT with a credit card safe?
2. Which bank's credit card is best for this type of transaction?
3. Can my credit card get blocked if I use it for crypto transactions?
4. Are there any special terms and conditions I should know about?

Please share your advice, suggestions, or any safer alternatives. I want to make sure I'm not taking any unnecessary risks.

 

[xross]

Most cards don't work. See if any of your card goes to the OTP page first.

 

[QamarImam]

Most cards don't work. See if any of your card goes to the OTP page first.

Ok
Let’s try

 

[Jkt]

do u think making money is so easy!!!

 

[kuku1687]

Please let us know which card works

 

[telescope]

Why to buy USDT with such a horrible exchange rate? What's the purpose of USDT?

 

[KLB@96]

saw banks blocking and blacklisting credit cards

 

[iSayyed]

I advise against buying crypto with a credit card. This will incur a cash advance fee, along with Forex charges and GST. It’s definitely not the right approach!