The post [Guest Post] With Banks Banning Cryptocurrency Purchases on Credit Card, What Should Your Next Step Be? appeared first on CoinReport.
Bitcoin might get a serious kick towards widespread and unobtrusive adoption as a leading Canadian fintech company Mogo launched a new app letting people buy Bitcoin with a credit card.
Canadian Can Now Buy Bitcoin from Their Phones
Mogo, a Vancouver-based Fintech Company, also claims to be the very first in the country to bring an accessible solution for buying and selling bitcoin right at the fingertips of its users.
David Feller, Founder and CEO of Mogo, says:
Canadians are looking for a trusted and simple solution to buy and sell bitcoin, and that’s the need we’re addressing with MogoCrypto.
While TD Bank has revised its policies and stopped allowing customers to purchase cryptocurrencies using its credit cards, some major banks in Canada still allow crypto credit card transactions, the banks reportedly confirmed on Friday.
TD Bank Halts Crypto Credit Card Purchases
Canada’s largest bank by assets as of April of last year, Toronto-Dominion Bank (TD Bank), said on Friday that it is “halting the use of its credit cards to buy cryptocurrency as it conducts a review of the ‘evolving market’,” Financial Post reported. The bank explained in an emailed statement:
Those looking to buy the dip and take advantage of what is essentially a 60%-off Bitcoin sale can now conveniently purchase the dominant cryptocurrency with credit cards via Bread.
The Best Thing Since Sliced Bread
Bread, a clean and user-friendly Bitcoin wallet available on both iOS and Android, announced this week:
Starting this week, Bread customers around the world will have the ability to use a credit card to purchase bitcoin and have it deposited directly into their Bread. This new feature builds on a partner integration with Simplex to allow high limits and near-instant delivery for most users.
BARCELONA, 25 January 2018 – On 14 January Switzerland based start-up Volinex AG launched its debit card to offer a solution for the sudden closedown of all WaveCrest issued Visa debit cards. The issue still causes major problems for millions of European cryptocurrency owners. For their debit card, Volinex is partnering up with a company that works with the largest credit card providers in Europe. At volinex.com people can place a pre-order for one of the 100,000 available Volinex Cryptocards. Up until this moment over 5,300 cards have been sold.
There is a growing demand for cryptocurrencies to become usable in the real world. MoxyOne having realized the need for this service, is working on developing a financial infrastructure that solves this issue. The solution will be a white labeling service that allows companies to become partners and gives them access to the MoxyOne infrastructure.
It is the first Australian company to offer these services to any ICO that wishes to issue debit cards to their users. Development of the system will begin testing in Australia (purchases via EFTPOS) and will expand globally within the next few years.
Bitcoin Core developer Jonas Schnelli has hit out at payment processor BitPay after it suddenly “deactivated” all its non-US debit cards.
Visa Wields Axe On Prepaid Cards
In a message to users, BitPay explained that its card issuer, Wave Crest, “received direction from (Visa) to immediately close all accounts of its prepaid (Visa) debit card programs,” of which its prepaid Bitcoin debit card was one.
A lack of notice meant the company had no choice but to immediately shut down spending from all its customers outside the US, BitPay claimed.
The message continued with:
The PLAAK App ecosystem aims to give control back to Tradies and consumers alike by enabling Service Provider to choose their work hours and giving as much information as possible about the Service Provider to the consumer; allowing both parties to make the best choice for their unique requirements. The included wallet will also give true payment freedom, allowing the user to allocate funds within the wallet and pay Service Providers with the Cryptocurrency of their choice.
Cointed is partnering payment solutions company to provide a crypto debit card that aims to make payments in crypto part of everyday life. Those who contribute to the Cointed ICO during December have the chance to win a crypto debit card.
Why a Crypto Debit Card?
Clients will link their wallets to the card, in the same way traditional cards work. Payments will be charged in crypto but the merchant has the opportunity to get paid in fiat. This will allow people who want to spend their crypto to do so without forcing merchants to accept digital currency in their stores.
Most popular Bitcoin eBay auctions:
Bitcoin Miners BTC Mining Antminer S9 13.5th/s & APW3++ Power Supply In Stock
|$653.00 (1 Bid)|
End Date: Friday Apr-27-2018 9:33:19 PDT
Bid now | Add to watch list
Antminer S9 Try Before You Buy - 4 Hours SHA256 Mining Contract 13.5 Th/s speed.
End Date: Sunday May-6-2018 21:36:51 PDT
Buy It Now for only: $4.99
Buy It Now | Add to watch list
1 oz silver bitcoin. proof. IN STOCK value conversion. mini mintage, .999. COA!
|$18.53 (12 Bids)|
End Date: Sunday Apr-29-2018 16:40:31 PDT
Bid now | Add to watch list