What! Credit Card Purchase Denied on Coinbase

Introduction

We live in a world that most people have heard about Bitcoin. After a decade of continuous growth, we are at a point of convergence to reach mainstream penetration. I know we are not there yet but we are making progress every day.

The news sites love to make TA and predict where this asset will go next. People are crazy and don’t want to miss the chance to speculate on the price movement.

When you talk about crypto, the first thought that comes quickly in the discussion is Bitcoin. We know it as the sexiest or the one that most people trust.

Introducing my sister to crypto

It is difficult to explain and show people what is the advantages of using crypto instead of fiat money. It is hard to change their mindset and make them believe in what we believe about money.

When you have been thinking a certain way, it is normal that it takes some time to grasp a new way to apprehend the world. I need to do a step back myself and find an easy way to simplify the information or vulgarize it for anyone to understand it in less than five minutes.

My sister has just thought about the potential increase in the price of Bitcoin and the opportunity to make a profit. Everyone loves to speculate and make money without working for it.

Even myself I feel great when a crypto asset moon into space!

Coinbase account creation

Coinbase is the first thing that comes to mind to bring people into crypto with a simple interface and similar to a bank account. It is a convenient service to make a bridge between the crypto world and the current banking system.

I created her account in less than 5 minutes without any problem and I even received the KYC confirmation in the same time. I was very excited that my sister wanted to make here first Bitcoin purchase and embrace the crypto revolution.

Damn, we faced a roadblock along the way!

Purchasing crypto with a credit card

The credit card is a convenient and easy way to shop on the internet or in stores these days. Everyone uses them without thinking, it is as simple as buying a good morning coffee to start the day.

I guided her to find where to make a purchase on Coinbase. She wanted to buy $ 100 of BTC with her credit card and when we finally pressed the button to submit the confirmation, the unexpected happened.

Her bank denied the payment, I had completely forgotten that banks in Canada do not allow crypto buying with credit cards. Nobody can tell you what you can do with your money, and therefore banks will lose influence.

The future of banking

We are at a pivotal point of a global change, and money will migrate toward crypto. Banks do not provide something useful and have not the right to dictate what you can or can’t do with your money.

Soon, we will have the choice to be our own bank and unbank yourself from the banking system. This system of debt and inflation that robs you every day from your purchasing power and wealth is not fair.

I will be the first to unbank myself from this old financial system.

Conclusion

I need to find an alternative for my sister to purchase Bitcoin. Banks dislike having competition, but they have to face the reality of what is taking place with crypto.

It is a machine that advances fast and will challenge them. You adapt or the competition will take your market.

The most important thing to never forget, we have the right to buy anything we want with our money!

Chesatochi.com - For the love of crypto

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