Capital One & Discover Cards Say "No Crypto For You"

in bitcoin •  7 years ago 

Your Purchase has Been Declined

discover_No_BTC.jpg

Discover card has made a firm announcement it will not allow transactions on Cryptocurrency exchanges, including the famous Coinbase.com exchange. CEO David Nelms explained in a Bloomberg interview.

“It’s crooks that are trying to get money out of China or wherever,” he said. “Or if someone steals our credit card numbers they’re going to ask for payments in Bitcoin. Those are the only use cases I’m actually seeing today.” ~ Discover CEO David Nelms

But Wait, There's more Credit Card FUD to see

Capital One Financial Corp. has also made noise in the Cryptosphere on Twitter last week they tweeted that they had started declining purchases of cryptocurrencies “due to the elevated risks of fraud, loss and volatility.”


https://twitter.com/AskCapitalOne/status/952315442391023621

Makes you wonder how long it will be before the banks start clamping down in wire transfers and linked bank accounts.

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I don't think people should be buying crypto with credit. At this point it's very much a gamble.

This is probably along the same lines as forbidding the purchase of lottery/scratch tickets with credit.

I wonder if you can user an EBT card at the Bitcoin ATM's. There are three of these in Atlanta and they "currently" take all debit cards, at least for the time being. I am sure this may change going forward as Merchant services start clamping down on any crypto related transaction.

I really hope that it wouldn't work because food stamps are for buying food!

I may be running down a rabbit hole here. I think I am going to try to find someone with an EBT cash card that does not mind experimenting and see if it can be done. That might make for a viral video that drops some government hammers on some heads.

we just did a transaction without paying any fees to anyone.
It was pretty fast
And everyone was happy.
And the only parties that actually know what happened were, the one I was buying coin from and I. Of course you have to find someone you can trust to make a transaction like that, but for me I think I will try to make all my transactions like that.
FU_K the banksters!

You might want to detail what you did to get one over on them. The more restrictive the banks become the more inventive Cryptopians are going to have to be to get fiat out and crypto into their wallets.

Let me say you can find a solution on DISCORD.

WELLS FARGO BLOCKS MY CARD EVERY TIME ! I CALL TO VERIFY AND THEY SAY THE CARD WORKS. thank you for making me miss the December Rush!

That was one hellauv boom to miss out on too!

They blocked all my transactions above $20 on crypto. Luckily I put 1000 in the atms gave me a good 300% return but fees were astronomical compared to Bitstamp. I got in later than expected because of them. Banks are greedy on crypto

Have you looked into https://localbitcoins.com/ before. I have used it a couple of times here in Atlanta last year but BTC has gotten out of hand on exchange rates and confirmation times lately.

@libertyranger, you took time to research. You are too much.

You took the time to spam my post and not upvote. You are not enough!

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