Coinbase just confirmed what we knew was coming all along… banks would eventually crackdown on the use of credit cards to buy cryptocurrencies, like Bitcoin — with or without direct government involvement.
Coinbase confirmed that some customers using credit cards on their platform could expect extra charges on their next bill for “cash advance” fees, although Coinbase itself is not the one charging or collecting any of that extra money. Customers are now being urged to make purchase on it’s website with their debit cards or bank accounts instead.
Surprise, surprise — big banks found a way to make more money and protect their interests.
That’s a bit of sarcasm 😉
Will extra fees stop you from using your credit card to buy cryptocurrencies?