Buying Crypto on credit is NOT a good idea...


Mastercard’s quarterly growth was marked by a slight drop due to a decrease in the number of customers purchasing cryptocurrencies with the company’s credit cards, CNBC reported May 3.

Consumers can use Mastercard to acquire digital currencies, a practice forbidden by some financial institutions. Earlier this year, Bank of America, JPMorgan Chase, and Citigroup prohibited such purchases, referring to potential credit risks and cryptocurrency volatility.

Mastercard’s cross-border volumes reportedly grew by 19 percent, though that figure dropped by 2 percentage points from the fourth quarter, partly due to fewer purchases of cryptocurrencies by their cardholders.

Source: https://cointelegraph.com/news/mastercard-says-fewer-crypto-purchases-led-to-drop-in-first-quarter-growth