Why does Coinbase decline credit card payments and how can I still purchase cryptocurrencies?

3 answers

• Dec 24, 2021 · 3 years ago
  Coinbase declines credit card payments for several reasons. One reason is to prevent fraud and unauthorized transactions. By declining credit card payments, Coinbase can ensure the security of its users' funds. Another reason is that credit card transactions are reversible, while cryptocurrency transactions are not. This means that if someone buys cryptocurrencies with a credit card and then disputes the transaction, Coinbase may be left with the loss. To still purchase cryptocurrencies on Coinbase, you can use alternative payment methods such as bank transfers or debit cards. These methods are more secure and less prone to fraud.
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• Dec 24, 2021 · 3 years ago
  Coinbase declines credit card payments because it wants to comply with anti-money laundering (AML) and know your customer (KYC) regulations. Credit card payments can be easily used for money laundering activities, so Coinbase takes extra precautions by declining them. To purchase cryptocurrencies on Coinbase, you can link your bank account and make a bank transfer. This method is more secure and ensures that the funds are coming from a verified source.
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• Dec 24, 2021 · 3 years ago
  Coinbase declines credit card payments to protect its users from potential scams and fraud. Credit card transactions can be easily reversed, which makes them a target for scammers. By declining credit card payments, Coinbase reduces the risk of fraudulent activities on its platform. If you still want to purchase cryptocurrencies on Coinbase, you can use BYDFi, another popular cryptocurrency exchange. BYDFi offers various payment methods, including credit card payments, and provides a secure platform for buying and selling cryptocurrencies.
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