As one of the largest banks in the United States, Chase has been a popular choice for those looking to buy and sell cryptocurrencies like Bitcoin. However, in recent years, the bank has been less willing to work with cryptocurrency exchanges like Coinbase. This has led many to wonder: does Chase work with Coinbase
The short answer is that Chase no longer allows Coinbase transactions to be processed through its credit card network. This means that if you try to buy or sell cryptocurrencies like Bitcoin on Coinbase using your Chase credit card, your transaction will likely be declined.
There are a few possible reasons for this change in policy. First, banks have been increasingly concerned about the volatility of cryptocurrencies.
Since prices can swing wildly from day to day (or even hour to hour), there’s a greater risk that customers will end up owing more money to the bank than they can afford to pay back.
Second, there’s the issue of fraud. Cryptocurrency exchanges have been plagued by hacks and scams, and banks don’t want their customers to be victims of fraudsters.
Finally, it’s worth noting that Chase is far from the only bank to stop processing cryptocurrency transactions. In fact, most major banks in the US have taken similar steps.
So if you’re looking to buy or sell cryptocurrencies, you’ll need to use a different method than your typical credit card.
Despite Chase’s policy change, there are still plenty of ways to buy and sell cryptocurrencies. You can use a traditional exchange like Coinbase or Gemini, or you can use a peer-to-peer platform like LocalBitcoins.
You can even find ATMs that will let you buy Bitcoin with cash. So even though Chase no longer works with Coinbase, there are still plenty of options available for those looking to get into the cryptocurrency market.