UK banks block Bitcoin purchases with credit cards
- S
- SkyMeow
- K8x
- 11 May 2018
C2Tech, 05 Feb 2018ExactlyThey love us in debts but they won't like it when large number of us stop paying off debts and default. That is what they are afraid of. And credit cards have no collateral.
- ?
- Anonymous
- nU2
- 07 Feb 2018
Anonymous, 05 Feb 2018Ultimately it's up to the consumer to decide if they want t... moreIf you want to buy tokens/bitcoin (it's not even a coin) with your own money then go ahead. Don't do it with a credit card.
- V
- Vegetaholic
- StU
- 06 Feb 2018
Of course, cause many stupid people will destroy their lives with this nonsense if they didint already
- D
- AnonD-77443
- Xsi
- 06 Feb 2018
No issue at all with this.
You can still use a debit card, cash or direct deposit to buy bitcoin.
Bitcoin have a high volatility and the risk is that someone using credit on an item that is worth 50% in a months time.
- A
- Anonym
- 60J
- 06 Feb 2018
Anonymous, 05 Feb 2018Ultimately it's up to the consumer to decide if they want t... moreThey aren't allowed to interfere in what consumers do with their own money (as long as its legal) and, in fact, they won't. However, they are free to decide who gets a loan from the bank and to what purpose -- there they are fully entitled to not loan you money for the purpose of xyz.
That's why the article says credit cards and not debit cards, you are free to use your own money with a debit card to do that -- just not the bank's money, which is in fact what happens when you use a credit card (until you pay the bill).
- D
- AnonD-446346
- TkE
- 05 Feb 2018
The real story is that they have stopped people buying crypto currency on credit cards but no such blocks on debit card. I actually think this makes perfect sense in terms of responsibility for lending. I am not lover of the banks or stocks and shares either though!
- g
- good news
- RHT
- 05 Feb 2018
I heard the market is moving towards Garlicoin anyways.
- C
- C2Tech
- jdw
- 05 Feb 2018
FinnishInquisition, 05 Feb 2018Banks? Afraid their customers become indebted? Hah! Good... moreExactly
- ?
- Anonymous
- ELT
- 05 Feb 2018
I prefer pomegranatecoin to bitcoin..xD
- F
- FinnishInquisition
- m}S
- 05 Feb 2018
Banks? Afraid their customers become indebted?
Hah! Good joke there.
Banks thrive on putting people in debt. It's their entire business model. They loan money from people at near zero interest, then lend that money to other people with insane interest rates.
- ?
- Anonymous
- Tab
- 05 Feb 2018
Anonymous, 05 Feb 2018Its kinda funny how they allow people to buy at all time hi... moreAs if they don't have enough money as it is...
- ?
- Anonymous
- 3DR
- 05 Feb 2018
Its kinda funny how they allow people to buy at all time high's but wont let you buy during dips/corrections.
They are just afraid of crypto and the losses they could eventually mean for them.
- m
- mixa
- pwT
- 05 Feb 2018
The fear man, the fear. They are afraid of cryptos. I've never seen banks blocking buying stocks on the stock market where your can do the same.
If you're using any of these banks, change them immediately.
- D
- AnonD-284786
- 0vF
- 05 Feb 2018
Anonymous, 05 Feb 2018Ultimately it's up to the consumer to decide if they want t... moremoney laundry law foces them, there is no other bank in EU and US
- ?
- Anonymous
- Tab
- 05 Feb 2018
Ultimately it's up to the consumer to decide if they want to purchase Bitcoin or not. The banks should not be allowed to interfere.
If they do, I'd recommend choosing another bank, one that does not try to throttle your decision making.