Even in 2020, Banks Will Still Prevent Access to Cryptocurrencies

Even in 2020, there are several banks around the world that will prevent customers from buying or selling cryptocurrencies. One way to circumvent those issues is by utilizing crypto debit cards, even though they rely on the banking system as well.

Banks have always had a love-hate relationship with Bitcoin and other cryptocurrencies.

Banks Still Fear Cryptocurrencies

Some of these institutions will actively prevent any interaction between their service and the crypto space.

This can lead to not being able to buy or sell cryptocurrencies.

Circumventing that problem can be challenging in many different ways.

One logical option is to change banks, although that might not necessarily help alleviate these matters.

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It is very likely that one’s new bank maintains a similar policy, although they won’t openly advertise something like that.

Another option to explore is the use of crypto debit cards.

Several providers have made a name for themselves in this particular niche market.

That being said, a crypto debit card is still linked to a bank account somewhere.

If that bank were to get in trouble for some reason, it will still backfire on the user.

For the time being, the uneasy situation between banks and the crypto industry will not improve, by the look of things.

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

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JP Buntinx

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