TD customers can no longer use credit cards to buy crypto
The bank is conducting a review of the market
Does it make sense for a young person to have life insurance?
Think you're too young for life insurance? Buying early can help save on premiums.
TORONTO — TD Bank says it is taking a pause on allowing customers to use its credit cards to buy cryptocurrency.
The big bank says it made the decision to conduct a review and assessment of the evolving market.
The decision follows moves by several U.S. banks to stop allowing credit card purchases of bitcoin and other cryptocurrencies.
The value of bitcoin soared last year, trading for more than C$20,000 per bitcoin.
The value of the cryptocurrency has since come off its all-time highs and trades for around C$13,000, but remains up significantly from where it was a year ago.
Royal Bank says it does allow its credit and debit cards to be used for transactions involving cryptocurrency in limited circumstances, but cautioned clients about the possibility of a sudden drop in the value of cryptocurrencies.
MORE ABOUT BITCOIN:
- Why cryptocurrency is ‘closer to gambling than investing’
- Bitcoin explained
- Bitcoin technology could make banking cheaper
- Bitcoin ATMs arrive in shopping centres across Toronto
- Hassle-free bitcoin investing may be coming
- Bitcoin ATM comes to Canada
- Celeb IPO
Share this article Share on Facebook Share on Twitter Share on Linkedin Share on Reddit Share on Email
Related Articles
GST holiday break: Is it good for Canada’s economy?
Economists share how the temporary tax cut and relief cheques may play into Canada’s growth picture.
Money-saving gifts that keep on giving: MoneySense’s 2024 holiday guide
Looking for gifts with great value? Our editors share ideas that are thoughtful, useful and even cozy—plus they can...
Making sense of the markets this week: November 24, 2024
Nvidia doubles revenue in one year, Canadian inflation moves in the wrong direction, Target misses badly, Walmart beats earnings...
MoneySense at the MoneyShow: ETFs & Investing Strategies
Here’s how to get your free ticket to attend the MoneyShow virtual expo.
5 must-have insurance coverages for small businesses in Canada
Created By
Zensurance
Mental health resources in Canada: How to get help for free (or cheap)
Learn how to get mental health support in Canada, whether or not you have workplace benefits or insurance coverage.
Inflation is on target in Canada, so why is food (and other stuff) still so expensive?
Why Canadians are still feeling the squeeze of high food costs, and what to do about it.
Trying to purchase Bitcoin with my debit card – why is it not working ?????
Frustrated