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RE: SHOCKER: JP Morgan-Chase Bans Buying Crypto With Credit Card
lol not shocking but yes its not responsible to use a high rate credit card to buy crypto its like buying cash with credit which is illegal
Certainly it is stupid to do it @bitcoinflood, but I think the news here is that JPM isnt concerned about their customers at all. If it was in an effort to protect them, I would agree with it.
My take is this is just an attack on cryptos...it is their effort to throw a monkey wrench into it.
Of course banks will attack Cryptos like crazy as it honestly is starting to threaten their companies. AND FOR GOOD REASON. We bailed out our banks and then they loan shark us the money back from the taxes we paid to bail them out. Talk about one correct government and banking system I am all for kicking a majority of these banks to the curb for pulling such crap.
I am rooting for crypto over the banksters too...
And take the government hacks with them.
10 years after the bail out and they guys are still raping and pillaging. Nothing changes.
I agree. I don't think it is wise to use credit to purchase crypto (although people get credit to buy stocks), but I also don't believe for One Minute that banks care about its customers' well-being. Nonsense! They care about their bottom line, that's it and I believe they want to slow the adoption and entry-rate of regular folk into crypto. lol
I still think people should only buy with cash because if you're using credit that means you can't afford the cost and certainly not to lose it (most likely).