banks and if they allow buying bitcoin

[Viscore]

I just found out that my bank is against anyone of their customers buying bitcoin or bitcoin related things like hard wallets. I have heard it somewhere and would like to confirm or not the following. Of course when I tried to pay for a hard wallet with my credit card, it was declined by the bank. I have heard that if you buy bitcoin through your bank by wire transfer, they have no way of knowing what you bought. Is this true? If it is can I rest assured that the bank will not find out I bought bitcoin this way? I live in Canada, does anyone know a bank that has not problems with you buying bitcoin?

Just try asking them why. If that will be their rules (even though the hard wallet is not crypto but use for holding purposes), we have nothing to do with that and that is not the end of our life. We can still purchase a hard wallet not using a credit card. Or you have to transfer to another bank that accepts and allows you to make transactions even buying crypto.

What I think is that the bank manager doesn't give clear restrictions in regards to that or they don't know anything about crypto hard wallets. Maybe you have to talk to them and help them understand about it.

[Beparanf]

that's some weird policy. why don't they block paypal deposit too since some scammers use them to scam p2p trades?

if i were you, i'd consider using another bank after that.

Some banks indeed don't want Bitcoin transaction since Bitcoin is not regulated which government can't get tax out of its transaction. Just like on our country, Some Banks force closed an account if ever they detected that the money entering to your account is from Bitcoin regardless on how you get it. Until now, Bitcoin is still on gray area in some countries especially to those 3rd world country.

[mmhaimhai]

Hmmm...you should ask them why if bitcoin is not banned in your country. In our country, Philippines bitcoin is not ban, I've been into cryptocurrency for almost 6yrs, there almost a btc wallet that support transfer to diff banks here and thanks God, I have never been question by my bank how I receiving such amount. I am also paying tax, PH doesnt have tax rate specially made for crypto traders so I am just reporting my earnings as other income aside from being a practicing professional in my ITR.

[izsara]

I just heard this for the first time because I usually don't use a hardware wallet in buying bitcoin.
but if this is true there will be many people who question and create discussion forums like this from yesterday, but so far only you who have experienced it may.
try using p2p, because p2p I think is very easy to use in this case
In addition, other methods can also be tried