We should enjoy these pre-historic times before they’re gone.
Looks like Visa and Mastercard are seeing an increase Crytpcurrency purchases as of late and are going to start capitalizing on them too.
“Over the past few weeks, we have clarified to acquirers – or the merchant’s bank – the right transaction or merchant category code to use for these type of transactions (cryptocurrency purchases). This provides a consistent view of such purchases for both merchants and issuers”
This basically means you will need to pay an additional 5% CC cash advance fee on top of the existing 4% transaction fee.
I don’t know about you but unless a person is buying a couple GRAND worth..It’s not worth it!! 9% in fees+??! INT rates are sometimes at 25%+..
We’re really the biggest losers at this point and those credit card companies are coming up on top again.
To be honest, at these prices, the instability of the market and high fees, it’s back to the drawing board as the ROI just doesn’t seem too feasible anymore.