Buy bitcoin with prepaid card
Coinbase has long accepted debit and credit cards for instant buys, however, passing on to the buyer the standard 4 percent credit card transaction fee. Now, it seems VISA issuers and Mastercard have quietly reclassified the way Coinbase credit card purchases are processed on their networks. Even worse is that cash advances do not fall under the standard interest-free grace period that consumers expect for other credit card purchases.
The moment the Coinbase purchase goes through, the transaction accrues and compounds daily. For most people, losing 10 percent of your investment in fees means that the practice of using a credit card to buy cryptocurrency is effectively over. It will become more difficult for investors to purchase bitcoin and other cryptocurrency on their terms. Transferring funds via ACH takes three to five business days.
In a world where cryptocurrency prices can swing wildly in either direction, a week feels like a nail-biting eternity. This provides a consistent view of such purchases for both merchants and issuers.
If anything, this change makes things more complicated in the short term. Virtual prepaid card Ideal for online shopping and account verifications. Want to know more about Cryptopay Debit Card? Why do I need a Cryptopay card?
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