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The RFD - Cryptocurrency Mega Thread

Member
Mar 16, 2011
411 posts
207 upvotes
MrBanks321 wrote: So apparently Capital One is not allowing any crypto purchases via their credit cards. I've read some Canadian banks are following suit as well. Dayumm
That's ridiculous. So the banks tell you what you can and can not spend your money on. Slippery slope...
Member
May 18, 2017
431 posts
209 upvotes
Toronto, Ontario
officerjimlahey31 wrote: ^^Nice avatar, tough season.

Capital one no longer authorizes the use of their credit cards on coinbase. I'm not sure of the exact reason but I did hear that they were experiencing a large amount of fraud claims against coinbase. Not that coinbase was stealing the money/coins but once you send your coins out there is no tracking on it. So I think the fraud claims were fraudulent.

If you guys must enter the market today, Coinsquare allows you to e-transfer money to them without ID, they just hold your funds or equivalent for 7 days. For example if you bought $1000 of ETH and tomorrow it goes up to $1500, you can send $500 worth of ETH to binance to buy chit coins.
can you etransfer coinsqaure before you're all done the verification?
Deal Addict
Feb 6, 2008
1222 posts
857 upvotes
Hamilton
chopperE wrote: That's ridiculous. So the banks tell you what you can and can not spend your money on. Slippery slope...
It's the banks money, you are borrowing it.

They can revoke your credit or cancel the card anytime they want to, read the TOS.
Deal Addict
User avatar
Apr 20, 2011
1757 posts
230 upvotes
chopperE wrote: That's ridiculous. So the banks tell you what you can and can not spend your money on. Slippery slope...
They are just testing their clients who are wanting to switch banks that want their business.

Telling their customers on where they can send THEIR OWN FUNDS too that is just asking for trouble.
Angry Face
Deal Addict
User avatar
Sep 6, 2008
3900 posts
1717 upvotes
BC
I bought some BTC on Coinbase today and I want to trade it to ETH and send it to Binance.

I'm getting confused on trying to time the switch for best results. Because those two coins are so closely tied together, is it even worth trying to time it? How would you do it?
Deal Addict
Mar 2, 2005
2032 posts
332 upvotes
Feegus wrote: I bought some BTC on Coinbase today and I want to trade it to ETH and send it to Binance.

I'm getting confused on trying to time the switch for best results. Because those two coins are so closely tied together, is it even worth trying to time it? How would you do it?
Should have bought ETH to begin with. No ETH is not tied to BTC and has appreciated substantially over the last 4-6 weeks. BTC network is also really slow right now and fees are horrendeous.

Wait for the dip to buy more ETH, thank later.
Deal Addict
Feb 6, 2008
1222 posts
857 upvotes
Hamilton
Feegus wrote: I bought some BTC on Coinbase today and I want to trade it to ETH and send it to Binance.

I'm getting confused on trying to time the switch for best results. Because those two coins are so closely tied together, is it even worth trying to time it? How would you do it?
What's the end result you want?

You can send BTC to Binance, and trade for anything on there.
Member
Mar 16, 2011
411 posts
207 upvotes
shwab wrote: It's the banks money, you are borrowing it.

They can revoke your credit or cancel the card anytime they want to, read the TOS.
ha ha, yeah because you can use your credit card without paying it back.
What if you pay it off right away? What if you have a positive balance or a prepaid credit card?

So you are ok with the Bank telling you what you can use a credit card for?

I'm pretty sure the TOS says you have to pay back charges you make on it. It doesn't have a list of what foods you can buy, which movies you can't watch, or what books you can't buy, etc.
You use the card, you pay it back.
Member
Mar 16, 2011
411 posts
207 upvotes
Deal Grabber wrote: Should have bought ETH to begin with. No ETH is not tied to BTC and has appreciated substantially over the last 4-6 weeks. BTC network is also really slow right now and fees are horrendeous.

Wait for the dip to buy more ETH, thank later.
Agreed. ETH has been more stable over the last month than BTC. I mainly have ETH for that purpose.
Sr. Member
Oct 12, 2014
748 posts
289 upvotes
London, ON
chopperE wrote: ha ha, yeah because you can use your credit card without paying it back.
What if you pay it off right away? What if you have a positive balance or a prepaid credit card?

So you are ok with the Bank telling you what you can use a credit card for?

I'm pretty sure the TOS says you have to pay back charges you make on it. It doesn't have a list of what foods you can buy, which movies you can't watch, or what books you can't buy, etc.
You use the card, you pay it back.
Looks like TD is also on the list,

https://themerkle.com/td-bank-prevents- ... urrencies/
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Deal Addict
User avatar
Sep 6, 2008
3900 posts
1717 upvotes
BC
shwab wrote: What's the end result you want?

You can send BTC to Binance, and trade for anything on there.
Right, I'm just trying to navigate without getting gouged for unexpected fees. I'll have to wait for 2nd Gdax verification to send it through them.
Deal Addict
Feb 6, 2008
1222 posts
857 upvotes
Hamilton
chopperE wrote:
I'm pretty sure the TOS says you have to pay back charges you make on it. It doesn't have a list of what foods you can buy, which movies you can't watch, or what books you can't buy, etc.
You use the card, you pay it back.
Look at this cardholder agreement, for a TD Visa:

https://www.td.com/ca/en/personal-banki ... -v10-K.pdf

"24. ENDING THIS AGREEMENT We may end this Agreement, close the Account or limit your right to access the Account at any time without telling you in advance."
Member
Mar 16, 2011
411 posts
207 upvotes
shwab wrote: Look at this cardholder agreement, for a TD Visa:

https://www.td.com/ca/en/personal-banki ... -v10-K.pdf

"24. ENDING THIS AGREEMENT We may end this Agreement, close the Account or limit your right to access the Account at any time without telling you in advance."
so? I stand by my original comment:

"That's ridiculous. So the banks tell you what you can and can not spend your money on. Slippery slope..."

Ridiculous they are deciding what things you can buy. What magazines you can buy? what stores you can shop at? what food you need to limit yourself to?
Deal Fanatic
User avatar
May 9, 2009
5957 posts
1784 upvotes
Montreal
chopperE wrote: so? I stand by my original comment:

"That's ridiculous. So the banks tell you what you can and can not spend your money on. Slippery slope..."

Ridiculous they are deciding what things you can buy. What magazines you can buy? what stores you can shop at? what food you need to limit yourself to?
Are you intentionally being hyperbolic? Or do you think honestly banning cryptocurrency transactions (which have accounted for a significant amount of recent fraud) is the first step towards restricting all our spending (which would consequently prevent them from making money)?

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