Looks like the days of getting cryptocurrencies with your bank credit cards is getting harder and harder.
As some of you might have read on CoinTelegraph, certain major banks such as Citi, JP Morgan Chase, and Bank of America have decided to not allow their branded credit cards for cryptocurrency purchases.
I knew this day was coming soon from miles away.
While Barclays hasn't made a stance, I had noticed the first cryptocurrency purchase I made this year, in 2018, had a "cash advance" fee attached with the cryptocurrency purchase I made with an exchange, CEX.io
I called up the bank, and they mentioned that it was CEX.io that has written the charge to have cash advance ... but now that I know that Visa and Mastercard are purposely writing up those cryptocurrency charges as "cash advance" ... the war against cryptos is fully on.
So while this latest past Black Monday in the cryptocurrency world has been a great sell ... I literally now have no way to get my fiat money and buy up cryptocurrency.
The complication of not being able to use credit cards, or high credit card fees + cash advance fees, along with the location where I'm at where the state doesn't allow cryptocurrency exchanges to operate, or along with the whole country of the USA being banned by certain cryptocurrency exchanges ... is definitely making it much harder to move in/out of fiat and crypto.
Effectively, I've decided that whatever I have in crypto, I will simply leave in "crypto land". And that I'd continue to do my regular job and accumulate fiat for "regular world".
I'm already looking forward to attending the Puerto Crypto conference, to see and meet other likeminded cryptocurrency enthusiasts, and trade ideas and listen to how people, particularly within the US, deal with cryptocurrency trading and investing within all of these fast new regulations coming up.