Central Bank of Argentina Restricts Buying Bitcoin With Credit Cards

After limiting the US Dollar Trades, The Central Bank of Argentina just announced the ban or restrictions on the use of credit cards in buying bitcoin and other cryptocurrencies for the citizens of the country, reported on 01 November 2019.

Not only bitcoin but there are other fields or industries that are also prohibited to use the credit cards there, like for foreign exchange operations and participation in games or gamblings are also restricted to use credit cards for payments.

“Acquisition of Bitcoin and cryptocurrencies: It is prohibited to purchase BTC with this payment method. The only remaining alternative for this investment is to do so with funds transferred from a bank account.”

It is also not clarified that the restrictions are only for credit cards, or for all other cards also like prepaid and debit cards. There are no clear statements provided in the measures.

Argentina is doing this in order to preserve the countries foreign reserves as per the Central Bank of Argentina (BCA).

Basically, Argentina wanted to protect the entry of US Dollars in the country by any means.

Recently, bitcoin gains a huge spike in its price with a total gain of 40% approx. So check the following link in order to know the chances for next movement
Bitcoin Price Prediction: CME Gap at $9000

Also Read: How to Earn Bitcoin? 13 Different Ways to Earn Bitcoin Free