Financing cryptocurrency acquisitions on a credit card restrain “going harder”.
Coinbase Inc. said customers are now going swiped with “cash advance” accusations when using a charge card to buy Bitcoin and other virtual monies. The bulletin in a blog post Tuesday came just days after several big banks said they’re starting to block the transactions entirely.
At issue is how card networks and banks that prolong financing acquires of cryptocurrencies group stock exchanges that sell them. Depending on how fiscal firms code the transactions — and whether they consider buying digital coins as akin to buying a money — different costs come into play. Some purchasers started noticing higher fees last week, Coinbase said.
” Unfortunately we don’t have a lane of knowing when they might be charged or how much they might be ,” Coinbase wrote.” If you were accused added rewards, we recommend contacting your bank as you may be able to have these waived or receive information about switching to a poster with lower rewards .”