Author

Topic: VISA and Mastercard make it harder to buy Bitcoin and other cryptocurrencies (Read 161 times)

member
Activity: 163
Merit: 11
These kind of steps was expected from Banks and payment processing companies because bitcoin is impacting their business big time. Probably less for banks but a major impact is seen for payment processors like visa and master card. So it's no surprise that they will take strict measures against crypto currency. It's good for you that they didn't ban it completely, just added some extra fees. Eventually they will ban any kind of crypto currency transaction using their network.
full member
Activity: 309
Merit: 102
Presale is live!
Using a credit card to buy crypto is very difficult but using a debit should be easier.
member
Activity: 434
Merit: 10
Soon on their place will come other payment systems. They topple the giants thanks to their digital technologies and one of such competitors can become the TON crypto currency, from the creator of Vkontakte and Telegram.
full member
Activity: 121
Merit: 100
It's CREDIT card, not DEBIT.

It's not harder, it's normal to forbid buying cryptos with credits...it's a protection for small mind.
full member
Activity: 266
Merit: 151
First crypto index traded as a token!
Visa and MasterCard, these are just the opposite of cryptocurrencies. So it's only natural that they make it harder to buy Bitcoin and other cryptocurrencies. And there are also lots of people who use their credit cards  to buy much more cryptocurrencies than they can afford, hoping they can pay back with the profit they could eventually make. That's exactly what authorities want to prevent.
sr. member
Activity: 2240
Merit: 270
SOL.BIOKRIPT.COM
Other quicker ways Of purchse hould be discussed as well. This is beyond Roger ver, as some believe and profess. Alternative will be engage it situation continues  
legendary
Activity: 1288
Merit: 1087
anyone buying with a credit card is a freaking moron. they'd be the first to panic dump at half or less of what they paid so they would be an active hindrance to the health of the market anyway.
sr. member
Activity: 391
Merit: 250
This is just a news report for a news report. I tried multiple times to buy crypto-currencies with credit cards, but never managed to, so it will not change much things...
member
Activity: 616
Merit: 10
Cryptocurrency does not need visa or mastercard anymore. It just shows that the advancement of cryptocurrency cannot cope up by the old process of payment, which is visa and mastercard. I think it is more convinient to use cryptocurrency without cards but it is hassle to use cards without cryptocurrency.
member
Activity: 126
Merit: 10
It shows that a lot of govs and banks are afraid to much money would leave the banking system and go into bitcoin. I think the large fluctuations in recent weeks/last month are to be seen in the same light.
full member
Activity: 826
Merit: 104
i dont care visa or mastercard.bitcoin is own king and bitcoin will go as usual.no one can stop.
member
Activity: 378
Merit: 10
Now there is a serious war of visas and mastercards! You just imagine how much capital has gone from their control! Bitcoin has a very serious capitalization, and it will grow in geometric progression! I think that visas and masterkart and bitcoin are not friends, but serious competitors! All these negative news are promoted by them! Let's see how this all ends!)))
full member
Activity: 462
Merit: 104
Crypto Marketer For Whales
The effect is that more of their users who do crypto will definitely leave them. Visa and Mastercard is ancient. One day it will be history. There are a lot of projects out there that will surely replace them.
hero member
Activity: 1834
Merit: 759
Well that move certainly made it more inconvenient, but if someone really wants to enter the crypto space, they'll find a way to. It has always been a more expensive option, so those who used to go down that road might not even mind paying a little extra. It's a sucky move for sure, and I don't think it's right for VISA and Mastercard to classify crypto purchases as a cash advance, but it is what it is.

Also, fun fact: you generally can't buy stocks with a credit card, and it isn't considered to be a big problem.
member
Activity: 112
Merit: 15
PlusCoin [ICO 10 September-10 November]
Sometime in the last week Bitcoin investors started noticing additional fees on their bank statements. It turns out that VISA and Mastercard both decided (how convenient!) to reclassify the way Bitcoin and other cryptocurrency purchases are processed on their networks.

Now that VISA and Mastercard have quietly reclassified the way Coinbase credit card purchases are processed on their networks, what do you think will be its effect in our current and future Bitcoin investors?

Source: https://techcrunch.com/2018/02/05/visa-and-mastercard-make-it-harder-to-buy-bitcoin-and-other-cryptocurrencies/?ncid=rss&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Techcrunch+%28TechCrunch%29

Jump to: