VISA and Mastercard make it harder to buy Bitcoin and other cryptocurrencies

[PlusCoinINK]

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

[jseverson]

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.

[1C6fV5DtakfKANLJ8GUV7hCaA]

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.

[GeorgiyBilyk]

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!)))

[mahibul49]

i dont care visa or mastercard.bitcoin is own king and bitcoin will go as usual.no one can stop.

[Stingray1970]

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.

[Nhebu]

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.

[Cashew]

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...

[European Central Bank]

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.

[ololajulo]

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  

[Washball]

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.

[DaedRik3]

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.

[rtm125]

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.

[Rotsor]

Using a credit card to buy crypto is very difficult but using a debit should be easier.

[Simple_Man]

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.