Some banks won’t accept payments for buying crypto. There are several reasons why your bank might decline authorization for purchasing crypto;
- Suspicious- Some banks have regulations and don’t want to deal with crypto as a lot of cybercrimes happens through crypto.
- Blockchain tends to be the competition of central banks that offers people more freedom and decentralization, and some banks won’t accept the fact.
While enormous people complained about how banks stopped buying them cryptos.
My bank was naughty today and blocked my card when buying some Bitcoin!
My money, I can do whatever I want with it, I’m a big boy. pic.twitter.com/R58Q8zVsDV
— Mike McCarthy (@MikeNerdUK) March 12, 2020
There are several options for you to buy crypto.
Paypal, the most famous company, can help you with the transaction for purchasing cryptos. Most of the crypto exchanges have the option for Paypal, and this method can help you hide your transaction from your bank.
One of the most popular methods back in the days was to purchase bitcoins from someone available near you. The website LocalBitcoins allows you to find someone near you and buy indirectly and why not have a coffe with someone who can provide you with information. Remember to pay only after your balance shows the number of cryptos you purchased.
3.Chat with your Bank
Yes, you can try to convince your bank that you know the risks for purchasing bitcoins are and to ask them kindly approve the payment. In the end, it’s your money, and you can decide what you want to buy or not.
4. BITCOIN ATM
With a simple search on Google, you can search Bitcoin ATM’s near you and go directly buy over there. Be cautious and check the reviews as there can be different scams over there. Read the reviews all the time.