Desperate buyers resort to credit card payments for Bitcoin purchases

Author: Justin Low | Category: News

A survey by LendEDU shows that almost 1/5 of investors used their credit cards to fund purchases of Bitcoin

The FOMO in the Bitcoin mania is just too much for some people.

A survey by LendEDU on 672 active investors show that 18.15% of respondents used their credit cards to fund Bitcoin purchases - while 22.13% of those respondents have not payed off their balance after purchasing Bitcoin.

Even the added interest from credit card purchases isn't enough to scare away investors, as 70.37% of respondents say that they believe that owning Bitcoin is worth the interest expense.

Looking beyond those surveyed by LendEDU, a Google Trends search highlighted by Bloomberg here shows that interest in buying Bitcoin using credit cards have surged over the last year - particularly in December:

Seems like they're looking for a repeat of 2017 in 2018 for Bitcoin, eh?