Capital One Now Blocks Crypto Purchases

[talanhorne]

Just this past week, I learned that my Capital One card could no longer be used for crypto purchases.

I tried buying from Coinbase, and the purchase was blocked. When I called Capital One, I was told there was no way to unblock as the company had instituted a blanket ban.

I am now warning people, on Reddit and on Steemit, about the ban, and encouraging them to sign up with other card companies.

I have asked around on r/Bitcoin, and I have been told that Chase Freedom cards are better suited for buying crypto. Some also recommended Citi cards.

In the meantime, I only have one thing to say about Capital One: avoid it like the plague. It is not going to be ready when the legacy financial systems are transformed/destroyed.

Last year, I had made several crypto purchases with my Capital One card, and I never had disputed charges for those transactions.

I did, however, have my credentials stolen once by a gas station scanner, and the thieves used my card data to buy $600 in gift cards. Capital One did nothing to stop those transactions. I had to notice them myself on my statement and manually cancel the charges.

tl;dr : Capital One is a dinosaur company that is now blocking purchases from any crypto-related company. They don't have our best interests at heart.

Comments

[theguruasia]

@talanhorne,
Same type of incident happened to me via CEX.IO! So I missed that BTC dip to buy more coins :/

Cheers~

[hanitasteemer]

informative post thanks for sharing up voted and resteemed done

[iwant]

Thanks for up dating i don't know about this

[humaima]

so sad my friend & thanks for telling

[wajahatsardar]

why this is happening my friend. this is not a good news. thanks for updating and sharing your ideas

[kouba01]

It would be nice to expand this to a list of banks to switch from an to. Also with a list of email addresses to outline why you are switching. Pressure.

[max1994]

I have capital one as well. That is insane. Purchased a pack of bitcoin a year ago. Figure I can't presently. A debt of gratitude is in order for the notice

[trendo]

Well, that sucks... They don't seem to give a fuck about the users. And I'd be really pissed if someone stole 600$ from me :O

[miguelportela]

This company will sufer the consequences of this ban when they realise that are losing allot of costumers, when they try to find why!

[minoservice]

Thanks for the information and very useful.
Capital One Now Blocks Crypto Purchases Is great topic.
Resteem

[mywhale]

Hello @talanhorne,

Extraordinary good article, hard to find bad reviews about their services, but your user experience is the worth-worthy.

~@mywhale

[anikearn]

greet information my dear friend
thanks for sharing

[serkagan]

You are right, this is an interesting case, since the Capital One has always been considered a very decent bank and users have had no problems. Most likely they have put a ban on the purchase of crypto-currency due to the bank's internal policy, which, in my opinion, can be imposed on them, for example, government bodies. Thank you @talanhorne

[blazing]

if every banks now keeps doing that what will happen this is concerning

[suchi]

good informative post sir. i like your post and following.

[dragonking]

Really disappointing scene. But better message giving community. Be safe all. Thanks to security alert.

[avagado]

That is great information. thanks for sharing

@talanhorne
Resteem

[starving]

no more financial freedom with capital one hahah throw them away

[tasawarsteemer]

its shocking news

[cityslicker]

ohh now that is some kind of trouble from capital one card holders

[steemphotography]

when they can't even care about customers there is no point to be with them

[perry1]

Thanks for article and good writing.
For your post propagation.

[minnowspower]

Congratulations @talanhorne
Now you are in the MinnowsPower Loyalty Member List...!!!

Exceptional article & useful review to the Steemit community...!!!

20% Upvoted by @MinnowsPower

[markzuckerbergs]

Thanks for the information. Capital one is very irresponsible company
very bad service.

upvoted & followed

[lito]

Not aware about this incident Hope everything will be alright soon.

~Followed & Upvoted

[votman]

Better you change your Capital One to a trustful other services~

[jillianfrances]

Thanks for the heads up!

[goldcoin]

Thanks for the information, it is very valuable and thanks for sharing
Thanks @talanhorne
Have a great day

[greenie]

Wow! That is outrageous! Thank you so much for sharing.

[zubir01]

very good post my friend .. I like the same post you friend

[matthewoz101]

I have capital one too. That's crazy. Bought a bunch of bitcoin last year. Guess I can't now. Thanks for the warning.

[madushanka]

@talanhorne, Thanks for giving warning message about Capital One card.

[steemclaira]

oh thanks for the news..actually i was not aware of it :)

[cutiepie]

your personal experience too didn't seems to be great its great that they revoked the purchase better get a new on

[resteemia]

impressive post & nice warning you have given today. excellent problem description. @talanhorne

@resteemia
reteemed & upvoted & commented & followed

[nishaopt]

Unluckily I do not have them :/ Anyway thank you for the news
-cheers-

[masril]

thanks @talanhorne ,have shared information, I really like your post.

[sid9999]

@talanhorne really me as an investor lost the goldern oppurtunity of buying btc at $10000.It was a risk that i should have surely made but i just hesistated and lost the goldern opputunity to collect some of them ...Really suggest me is it time collect some or wait till next rally comes .....really your post was dam informative and pointed out a serious issue.

[kingsberry]

This is a not a good news for us. May be other worldwide companies can be stop transactions with cryptocurrency. We need to be all together and preserve our crypto market.
Thanks for massive update @talanhorne.

[head2themountain]

Omg!!!!!! I was wondering why I couldn't buy the dip ugh stupid capital one ..... Thank you for the info I was so mad

[talanhorne]

So sorry that you went through that.

[head2themountain]

Just part of the system for now .... Thing will get better in time

[steemwija]

@talanhorne - Sir until you talk about it, I didn't hear it... Thank you for this valuable input Sir...

+W+

[lovehaswon]

Very valuable information. We actually need peer-to-peer exchange services, and they should be reliable. Blockchain technology is the future of financial market.

[stardivine]

Great and amazing information sir.
It is very beneficial.

Thanks @talanhorne sir for sharing this post.😊

Upvoted + Resteemed your post sir. ☺

[hairflare]

that is very shocking news. we have to b very care full from now on thanks for sharing

[voteman]

Best wallet is Capital One . Great information sir.

For your post propagation.
Upvote/Resteem

[durgaani]

@talanhorne...good and informative post sir..thnak you for sharing your idea and information us...have a nice day sir....upvoted and followed ...

[starangel]

I hope someone will soon come up with new exchage service that works great and allow us to transfer/exchage all kind of major cryptocoins with fiat.

[mervesaglamx]

Already the support system was very bad, nice to encourage other sites

[anik-hassan]

greet information my dear friend
thanks for sharing.

[swefian]

Amazing post thanks for sharing

[ashik785]