Coinbase US Clients Can No Longer Add Credit Cards As a Payment Option

Coinbase US Clients Can No Longer Add Credit Cards As a Payment Option

Digital assets trading venue Coinbase is making the life of crypto enthusiasts more “interesting.” Not long ago its users were informed about the fact that they would be charged for purchasing cryptos with credit cards, issued by Visa and Mastercard.

This week, Coinbase announced that its customers, who are based in the USA, will no longer have the opportunity to add new credit cards as a payment method on the exchange.

Bad News. Again

According to burse’s notification, released on February 13, it is not capable of proving a seamless credit card or buying attempt. That is why Coinbase has inactivated the option of appending novel cards as a payment setup for American users.

As it is stated in the Coindesk report (which, by the way, possesses a stake at this exchange), this decision was made in the aftermath of the affirmation that US-banks-issued credit cards cannot be employed for purchasing cryptos on this virtual assets trading venue. Nevertheless, as the crypto exchange confirmed, debit cards are still valid as a payment method.

At the same time, Coinbase admitted that a plethora of its clients had chosen credit cards as their major payment option, so when they decided to bar their customers form utilizing new cards, they were highly aware of what they were doing. In the announcement, the company stated:

"We are actively working with card networks and card issuers to find a long-term solution."

Notwithstanding the above, people who have already added their cards to the crypto exchange, are free to keep using them for as long as their financial institution permits them.

Changes Dead Ahead

Meanwhile, Coinbase clients who are based in other countries and regions, including UK, Canada, Singapore, Australia, as well as EU, are not going to stay aside. The exchange is examining conditions there, considering responsiveness, and is assessing resembling adjustments.