The Commonwealth Bank wont let you buy Bitcoin on credit (anymore)

The Commonwealth Bank has announced an immediate ban on the use of CBA and Bankwest credit cards to buy cryptocurrency, though it will not ban other methods of fiat payment.

My guess is that has happened because a bunch of people bought into Bitcoin at it’s media frenzied peak and now can’t pay their credit card bill as it bottoms out.

Makes sense. The CBA is following the lead of UK’s Lloyds and pretty much every US bank so I’d expect others in Australia to do similar soon too.

Source: CBA blocks crypto coin buys on credit cards – Finance – Security – iTnews

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