So the other day, while the markets were plummeting, I decided it would be a good time to pick up some bargains, I am out of town without my laptop atm, so my only means was my trusty mobile, I went To Coinbase base and followed the usual steps to buy some BTC, ETH and LTC.
The transaction went through briefly only to quickly receive an email from coinbase stating that my bank, (WESTPAC) had blocked all transactions from my card to Coinbase!
My Theory is, lots of people were buying the the Dip, and the old dying dodgy banks can't handle all this fiat fake money disappearing into crypto!
I tried again today and it went through just fine, just seemed to get blocked while the markets were at their lowest, well I can't wait to see these old banks and monetary system finally fail in the next few years...
My problem was that I have a PayPal business debit that links to my paypal balance the same way a bank debit links to your checking account. I was using it to purchase coins using coinbase's instant purchase. 3 transactions in 24 hours was enough for PayPal's system to flag the card as potential fraudulent purchases and lock me out.
So I had the pleasure of spending over an hour and half on hold with paypal to get a hold of a representative. They were able to unlock the account, but told me if I made more than 2 or 3 purchases in a day, it would lock me out again. So guess I need to make fewer, but larger purchases
It's dodgy, should be able to make as many as you want...its your money!
The same shit is happening at coinspot.com.au and btcmarkets.net.
The Australian banks blocked access. You can only transfer funds to these two exchanges via BPay.
Isn't it telling! Australian bank accounts are getting emptied as people shift to cryptocurrency!
It only makes us more determined to get as far away from them as we can
I use Bpay, it sucks when there is a dip it takes like 2-3 days to transfer. Sometimes it went back up by then haha
It's a joke, I am just going to try always have some sitting their for the dips from now on...
What Westpac cc do you have? I haven't had any issues with them buying on Coinbase