The other day I was trying to buy the dip 
using my Atomic Wallet ( they use Simplex payment processor) ..but to my surprise (and after about 2 hours on the phone with Capital One customer service representatives) I found out that they have blacklisted any payments processors that deal with cryptocurrencies. I had to verify so I tried another service to buy BTC with credit card online but same thing happened. Tried two credit cards and two payment processors. Is anyone having similar issues lately?
If the financial institutions in the US are restricting the fiat to BTC and vice versa ..that would be very bad news for the already dropping price.
Cheers!
using my Atomic Wallet ( they use Simplex payment processor) ..but to my surprise (and after about 2 hours on the phone with Capital One customer service representatives) I found out that they have blacklisted any payments processors that deal with cryptocurrencies. I had to verify so I tried another service to buy BTC with credit card online but same thing happened. Tried two credit cards and two payment processors. Is anyone having similar issues lately? If the financial institutions in the US are restricting the fiat to BTC and vice versa ..that would be very bad news for the already dropping price.
Cheers!
The big US banks (including Cap One) have been trying to block crypto purchases with credit cards since at least early 2018. https://www.coindesk.com/coinbase-confirms-4-banks-blocking-bitcoin-purchases-on-credit-cards
So this is nothing new. It makes sense too. I took a personal loan years ago and the bank clearly prohibited using the funds for investments. I assume credit card agreements have similar restrictions. They are loaning you money based on your income, not trying to fund high risk get rich quick schemes.
It started with Coinbase but they're getting around to blacklisting all the known processors. Simplex is one of the biggest so no surprise there. You can probably get by with a smaller card issuer but the big banks like Capital One are locking it down.
Well this must be recent in Canada then ( I am located in Canada ) . I am using these 2 cards for paying various crypto related expenses ( hosting fees ,SSL,Fiverr etc) for our platform , and I have never had a problem to pay in any country for any service so far, until now..Let's hope is just a local thing