Coinbase banned customers from the US to add credit cards as a method of payment

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The American cryptocurrency exchange, Coinbase, said that its customers from the United States will no longer be able to add credit cards as a method of payment.

In his blog Coinbase writes that at present the platform is not able to provide customers with satisfactory conditions for making purchases with credit cards. Thus, she decided to “disable the possibility of adding new credit cards as a method of payment for US customers.”

Earlier, the company already reported that 4 US banks banned their customers from using credit cards to purchase cryptocurrencies. In this case, debit cards retain full functionality.

“We know that many customers added credit cards as the main method of payment, so this decision was not given to us easily,” Coinbase writes. “We are actively working with networks and card issuers in the search for a long-term solution. We conduct a survey among customers from the UK, EU, Canada, Australia and Singapore, assessing the possibility of introducing the same changes. “

Users who tie their credit cards to Coinbase accounts before the last ad can use them, “while banks allow it.”

Earlier, several American banks, including JPMorgan Chase, Bank of America, Citi and Capital One, and British Lloyds limited the possibility of buying cryptocurrency using credit cards, fearing that volatile market leaps and credit money used to buy cryptocurrency may cause the occurrence of losses in the financial institutions themselves.

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