HSBC and Nationwide Crack Down On Bitcoin Purchases!
It seems that HSBC and Nationwide Bank just don’t get the memo about the future being in cryptocurrency! Much to everybody’s chagrin, the banks recently announced that they intend to crack down on customers buying bitcoin and other cryptocurrencies.
What’s The Dealio?
HSBC has decided to prohibit its customers from using credit cards to purchase Bitcoin, citing concerns about credit risk. Nationwide Bank is taking even a further step, saying they won’t allow customers to purchase Bitcoin with debit cards either.
Is This A Big Deal?
Some online commentators are heralding this news as the beginning of the end for cryptocurrencies, but it’s important to remember that major banks have been wary of Bitcoin and other digital assets since they were introduced. Additionally, several banks have already implemented similar measures to restrict access to cryptocurrencies.
What Can We Do?
If you’ve already got an account at HSBC or Nationwide Bank, you may want to look into shifting your funds to another institution that is more welcoming to cryptocurrency purchases. Luckily, there are plenty of alternatives to choose from!
We should also:
- Embrace Decentralized Exchanges – If you’re looking to purchase Bitcoin or other coins, you may want to consider using a decentralized exchange such as changenow.io or shapeshift.io.
- Stay Educated – Staying informed about the ever-changing world of cryptocurrency will help to ensure that you’re making the best financial choices for yourself and your family.
- Share Your Story – Don’t be discouraged! Sharing positive stories about the wonders of blockchain and crypto can help to spread awareness and push back against fear-mongering.
At the end of the day, the most important thing is to stay informed and make smart choices with your money. Don’t be afraid to embrace the future – after all, that’s the only way to keep moving forward.
