No Bitcoin Can Be Bought Via Wells Fargo Credit Cards

Several months ago cryptocurrency hype tempted indeed people who know nothing over digital currencies to get in on the event as they dreamt about profitable paybacks. Although they didn’t have cash money to purchase digital currencies like bitcoin, they simply applied their credit cards for it. Banks acted immediately preventing customers’ losses from accumulating on their record books so they began prohibitting cryptocurrency acquisitions applying credits and today Wells Fargo has joined that list of banks as well.

Some American banks like JP Morgan Chase, Bank of America and Citigroup are the majors one which don’t allow customers to buy cryptocurrencies with their credit cards. To tell the truth, their customers can acquire these currencies applying their debit cards because it’s money out of their account, but it doesn’t permit them to do that on money taken through the credit cards.

Wells Fargo has united their ranks as well by proving that it’s prohibiting cryptocurrency buying through its credit cards. Nevertheless, the bank has mentioned that it will be watching the cryptocurrency market and find whether there’s a necessity to overestimate the prohibition.

Some people will yet be able to discover their way around the prohibition, either by first sup a digital wallet with their credit card and then using it to buy bitcoin. The bank will be counting, at least, that it will be able to retain at a minimum some clients from venturing borrowed money on cryptocurrencies.