RE: BREAKING: Big Banks & Crypto in Canadastan Update: TD Bank Halts Letting Customers Use Credit Cards to Buy Cryptocurrency.
Bitcoin and other cryptocurrencies are a truly decentralized economy and all regulated economy like banks and credit card companies are horrified with its popularity. For example,
- JPMorgan Chase & Co., Bank of America Corp AND Citigroup Inc halted the purchases of Bitcoin and other cryptocurrencies on their credit cards.
- Discover credit card has banned purchasing Cryptocurrency.
- Some cryptocurrency-backed debit cards dropped from Visa network.
- MasterCard removes cryptocurrency Debit Card availability outside European Economic Area (EEA).
- UK's Lloyds Banking Group which runs Lloyds bank, Halifax, Bank of Scotland, and MBNA banned its customers from buying bitcoin with their credit cards.
These all examples indicates that major payment gateways like VISA, MasterCard, Discover all are horrified with cryptocurrency popularity and are afraid of losing market capitalization. People are desperate to buy because they see potential in its growth. Some of the earlier investors are the millionaire.
Disclaimer
I am not a financial advisor. This comment is just for information purpose and is not an investment advice. This just indicates my personal choice which may or may not be the best one. You should realize that Cryptocurrency market is very volatile and market fluctuate a lot on daily basis. You may gain 100 fold or lose all your investments. Invest wisely. You should not take a big risk. It is a good suggestion to invest not more than 5–10% of your saving with such an unpredictable market. Otherwise, you may face a big loss.
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