Capital One blocks CryptoCurrency purchases with its Card

Last updated February, 2018

Well, it’s official. For the last week or two, I’ve had trouble buying from CoinBase with my Capital One card. I finally got around to calling them up, and they informed me that the orders were cancelled not because I had run into my credit limit on the card, but because they no longer allow any purchases of cryptocurrencies.

Remember how one of the jobs of Bitcoin and other cryptocurrency payment systems is to replace credit cards and standard banks? Well, seems to me they’re starting to get worried!

Here’s a full, official news article about the blockage at Investopedia

So far, my CitiBank card seems to be working ok.
Update: Nope, as of Feb 2nd, Citi Bank is no longer allowing cryptocurrency purchases on credit as they view it as a form of “online gambling”. You can still use a Debit Card, but currently CoinBase only allows Canadian customers the ability to purchase with Credit Cards.

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