Hi,
Just to use all the money in your credit cards to buy some BTC and then before the grace period pay them back and repeat. If I am not wrong, this should give you a very nice profit say for a total amount of $20k between 7-8 credit cards plus good credit and all the cachback and points each CC have.
Is this smart?
Anyone does this?
And more important which exchanges allow you to use credit cards? Or is it better to buy using paypal and fund it via the CCs?
Thanks in advance.
This will only work when Bitcoin price is climbing. If you were to buy BTC on credit today and next week it were to drop down to around $8000, this strategy would not work so well.
Only invest what you can afford to lose. Probably best to use your own funds rather than the credit cards' funds.