After the news broke last week about Bank of America, Citigroup and a few others blocking customers from buying crypto with credit and debit cards, I was able to slide 2 small Ethereum buys in on Friday evening. By Monday, my credit card buys were blocked and the Monday trades canceled.
This is just an inconvenience for me, as I usually move money to GDAX and trade there for the advanced options and lower fees. See Getting Started and Advanced GDAX trading articles.
But for many, this will limit access to the markets until they find another way to fund their crypto accounts.
I think this will have a short term negative drag on the overall market but the effects won’t last long. Making bitcoin harder to get probably just increases the interest in my opinion.
This is just an inconvenience for me, as I usually move money to GDAX and trade there for the advanced options and lower fees. See Getting Started and Advanced GDAX trading articles.
But for many, this will limit access to the markets until they find another way to fund their crypto accounts.
I think this will have a short term negative drag on the overall market but the effects won’t last long. Making bitcoin harder to get probably just increases the interest in my opinion.
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