From crypto exchanges that collapse overnight to extreme price volatility, cryptocurrency investing is riddled with risks. But the payment method you use to purchase crypto can increase your risk of loss even further.
Most exchanges allow you to buy cryptocurrency using a variety of payment methods, including debit cards, ACH transfers from your bank, PayPal, or even credit cards. If credit seems like the obvious choice, you may want to think again, since your creditor might block the purchase, or even process it as a high-interest, high-fee cash advance loan.
