Corp greed - CANNOT buy Crypto with Credit/Debit card!!
Hi guys.
Breaking off from my usual Synth/Graffiti theme here as my Wife just attempted to buy some Crypto coins in her usual manner and the BANKs are preventing her from using her credit/Debit card to doing so. This is a first.
As per usual the big corps/Banks are trying to prevent the purchase from exchanges like Coinbase ..etc.. because they are scared of what this new BlockChain technology is capable of.
The sheer hypocrisy of banks like chase (their CEO trying to damage the reputation of BitCoins all the while buying as much as he can!) as they attempt to smear the technology so they can manipulate the market in order for them to personally gain from the current trend. I personally support the Crypto community because I believe in innovation and technological advancement. The traditional companies feel threatened due to the fact of what we are becoming decentralized and eventually will have big impact in their own future state.
I believe if we are being manipulated by the big corps as a community we should do something about it and find ways not to be dictated to. The developers should not work or help these big corps until they work with us fairly. We as a community are trying to support technological advancement. I know the banks are trying (claiming) to prevent victims of fraud by various scam coins however as responsible persons we should make these decisions ourselves and not being controlled by the bank. It's our money our choice.
What do you guys think? Is anyone else having similar issues buying Coins using Bank cards?
I have noticed this as well. I was considering dropping my Chase card, but it seems nearly every other major bank is performing similar practices. Self preservation..
Unreal. My wife banks with the usual suspects but I use a Credit union bank so I have yet to try, but will do so as soon as, and report my results here. Maybe we can create a list of which corp banks are preventing the transactions and which are allowing it.
I totally agree with you. Any companies should not prevent anyone using a debit card since its our money our choice. Cheers!
OK guys.
I just bought some BTC using my Credit Union bank and it worked fine, but again, would love to know which banks are preventing these personal transactions.
You can still do wire transfers...its a risk for the card companies because of fraud claims. Hard to blame a company for trying to protect their bottom line.
On a side note, I bought some using a visa card today.