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RE: Coinbase credit card purchases posting as a cash advance. What you guys think, Why?

in #crypto • 7 years ago

It is not only about Credit Cards. They just call all cards - credit cards.
VISA, Discover and others are announcing they will not allow cryptocurrency transactions via their cards.

Here is an interesting news article about this, published couple of hours ago:
https://btcmanager.com/major-credit-card-companies-refuse-cryptocurrency-transactions/

7 years ago in #crypto by
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     7 years ago 

    However it should be noted that blocking credit card transactions is not same as blocking debit card transactions because credit cards are always associated with risk where the customer might max out the credit card and because of uncertainties in the market, find himself unable to repay the amount.

    Although they are claiming that this ban is because of possible repayment problems, in reality this is the next punch on cryptocurrency phenomena. After China, Korea and India have made their announcements causing crypto markets to fall sharply, this might be the next big hit to drive the prices even lower.
    If after all this, the resistance will be overwhelmed by BTC, That can easily indicate the strong will of free investors to build the future for crypto's.

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     7 years ago 

    Make sense. Let see how it will effect crypto market :)

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       7 years ago 

      I just dont like this decision :(

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