UK banks block Bitcoin purchases with credit cards Comments
- SkyMeow
- K8x
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
Anonymous, 05 Feb 2018Ultimately it's up to the consumer to decide if they want to purchase Bitcoin or not. The bank... 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.
- Vegetaholic
- StU
Of course, cause many stupid people will destroy their lives with this nonsense if they didint already
- AnonD-77443
- Xsi
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.
- Anonym
- 60J
Anonymous, 05 Feb 2018Ultimately it's up to the consumer to decide if they want to purchase Bitcoin or not. The bank... 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).
- AnonD-446346
- TkE
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!
- good news
- RHT
I heard the market is moving towards Garlicoin anyways.
- C2Tech
- jdw
FinnishInquisition, 05 Feb 2018Banks? Afraid their customers become indebted? Hah! Good joke there. Banks thrive on put... moreExactly
- Anonymous
- ELT
I prefer pomegranatecoin to bitcoin..xD
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
Anonymous, 05 Feb 2018Its kinda funny how they allow people to buy at all time high's but wont let you buy during di... moreAs if they don't have enough money as it is...
- Anonymous
- 3DR
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.
- mixa
- pwT
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.
- AnonD-284786
- 0vF
Anonymous, 05 Feb 2018Ultimately it's up to the consumer to decide if they want to purchase Bitcoin or not. The bank... moremoney laundry law foces them, there is no other bank in EU and US
- Anonymous
- Tab
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.
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