Bitcoins with American Express

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djrez4
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Postby djrez4 » Sun Apr 20, 2014 12:54 pm

It's because you're not explaining the ultimate goal.

Are you trying to buy bitcoins with Amex? Are the bitcoins a means to another end?
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puppy
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Postby puppy » Sun Apr 20, 2014 5:44 pm

djrez4 wrote:It's because you're not explaining the ultimate goal.

Are you trying to buy bitcoins with Amex? Are the bitcoins a means to another end?


ultimate goal: having funds on any of ewallets (online wallets, including bitcoin which is most preferred, thats why i set such topic title also) mentioned in my previous post OR sent via moneygram/western union.

Source of funds: available credit on AE CC.

Obviously if needed, would also verify card ownership and identity. Even via phone call if needed to prove everything is legitimate. But number of intermediate locations (no ewallets, mentioned in my previous post, could be funded via AE CC directly) depends on advice I am searching for here.

haikuginger
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Postby haikuginger » Sun Apr 20, 2014 6:08 pm

puppy wrote:ultimate goal: having funds on any of ewallets (online wallets, including bitcoin which is most preferred, thats why i set such topic title also) mentioned in my previous post OR sent via moneygram/western union.

Source of funds: available credit on AE CC.

Obviously if needed, would also verify card ownership and identity. Even via phone call if needed to prove everything is legitimate. But number of intermediate locations (no ewallets, mentioned in my previous post, could be funded via AE CC directly) depends on advice I am searching for here.


Most of the reputable Bitcoin exchanges will let you fund your account with them directly from your checking account using either your routing and account number or via a wire transfer. Why is the step of going through Amex necessary?

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djrez4
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Postby djrez4 » Sun Apr 20, 2014 10:20 pm

Ok then. Take your Amex to any retail outlet that sells VGCs, purchase said VGCs, call for the PIN on the VGCs, and use the VGCs like debit cards to do whatever it is that your little heart desires.
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mrow
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Postby mrow » Sun Apr 20, 2014 11:21 pm

I've used a service that'll let you buy bitcoins with a CC for 9 months or so. Not going to name it in case someone from Amex is following this thread. It's not a good way to manufacture spending though because they take a percentage of the total transaction, not just a fee. I only use it when I need bitcoins for whatever reason. Made a killing from it last fall when bitcoins fell to ~$100 each and sold them at ~$900 each.

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Postby puppy » Mon Apr 21, 2014 4:45 am

haikuginger wrote:Most of the reputable Bitcoin exchanges will let you fund your account with them directly from your checking account using either your routing and account number or via a wire transfer. Why is the step of going through Amex necessary?


Question is about payment with available credit on AE CC and not with bank account. A lot of exchangers, as you said, already accept bank account payment.

djrez4 wrote:Ok then. Take your Amex to any retail outlet that sells VGCs, purchase said VGCs, call for the PIN on the VGCs, and use the VGCs like debit cards to do whatever it is that your little heart desires.


My mistake, I forgot to add to my first post that I am looking for online purchasing. Doesn't need to be exactly bitcoin. Can be other ewallets too.

mrow wrote:I've used a service that'll let you buy bitcoins with a CC for 9 months or so. Not going to name it in case someone from Amex is following this thread. It's not a good way to manufacture spending though because they take a percentage of the total transaction, not just a fee. I only use it when I need bitcoins for whatever reason. Made a killing from it last fall when bitcoins fell to ~$100 each and sold them at ~$900 each.


There are few that accept CC but not AE (excluding Paypal that doesn't work for me). I would be very much willing to pay the % for transaction. I would even be willing to wait few hours so seller withdraws my payment before releasing funds of ewallet (or wu/mg) to me.

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djrez4
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Postby djrez4 » Mon Apr 21, 2014 8:12 am

puppy wrote:My mistake, I forgot to add to my first post that I am looking for online purchasing. Doesn't need to be exactly bitcoin. Can be other ewallets too.


You miss my point. With VGCs in hand, you have fewer restrictions. Fund the ewallet with them like you would with any debit card. There are plenty of places online to buy VGCs.
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puppy
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Postby puppy » Mon Apr 21, 2014 9:21 am

djrez4 wrote:You miss my point. With VGCs in hand, you have fewer restrictions. Fund the ewallet with them like you would with any debit card. There are plenty of places online to buy VGCs.


What is VGC? The only definition I found is ''Very Good Condition''. But no ewallets can be funded with AE CC except Paypal and if AE isn't issued in USA then skrill too.

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Postby haikuginger » Mon Apr 21, 2014 9:26 am

puppy wrote:What is VGC? The only definition I found is ''Very Good Condition''. But no ewallets can be funded with AE CC except Paypal and if AE isn't issued in USA then skrill too.


Vanilla Gift Cards.

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djrez4
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Postby djrez4 » Mon Apr 21, 2014 11:13 am

haikuginger wrote:Vanilla Gift Cards.


Any Visa gift card, really.
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