When using a cryptocurrency exchange and making purchases with one’s credit or debit card, there are hidden risks to be aware of. For users of TD Bank, it appears that using such a card through Coinbase can get one’s payment method deactivated by the bank itself.
It is no secret that certain banks do not take kindly to cryptocurrencies. This is why people are interested to buy Bitcoin with PayPal more often.
A TD Debit Card and Coinbase Don’t Always Mix
This has become apparent when certain institutions effectively prevent users from buying Bitcoin and altcoins.
When it comes to debit and credit cards, checking such activities is a bit more complex.
That being said, it appears that at least one user has his debit card deactivated following a Coinbase purchase.
Interestingly enough, the initial purchase went ahead without any problems.
After trying to use the same card for regular purchases, it was seemingly “unavailable”.
The card has also been removed from the Coinbase exchange, apparently by the exchange itself.
This is very odd behavior by TD Bank, but it doesn’t come as too big of a surprise either.
It is another key example of how one needs to be careful when purchasing cryptocurrencies with a payment card.
Before you know it, paying for groceries the day after may suddenly no longer be possible.