Is Buying Bitcoin with my Credit Card Safe?

Yes, it is. I have personally used coinbase have reasons to believe that Coinbase is indeed safe and secure however this does not imply legal advice. It is best to proceed at your own risk.

Coinbase is a US based company that is answerable to the US government which technically implies that Coinbase is under the whim of the government.

More information about coinbase’s inception can be found here:
Coinbase | crunchbase

Coinbase as an exchange is required to follow Laws set forth by the United States of America in order to operate. Coinbase is entitled to receive and report your capital gain and taxes deferral to the government.

Usage of your credit card and Bank account with Coinbase ensures that there is a record with the bank to which you can appeal if there’s any discrepancy.

Banks are known to frown upon Bitcoin transactions happening but given that coinbase is an exchange that acts as an intermediary in between, it shouldn’t pose too much of a problem.

I have been using Coinbase close to year and it has served me well so far.
It asks me for my 2 factor authentication everytime I try to login and validates that it indeed is me through both email and mobile phone. From a security standpoint, I believe that coinbase works in our best interests.

Coinbase takes a commision of 1 % for selling and sending bitcoin which is fairly justifiable given that they are required to make revenue as well.
Coinbase stores your private key and recreates your public key each time to ensure that all your transactions aren’t tracked.

Coinbase keeps up with its laws and security measures to protect its users.

Coinbase also has a wonderful UI to work with as well.

Here’s a video that should help you get started with buying Bitcoin on Coinbase.



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