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Purchasing crypto with CC is a ripoff

I was excited to learn that Bitstamp allowed purchases of Crypto with a credit card, but soon learned the hard way this is a huge rip off.

I was fine with paying the 5% fee that Bitstamp outlines in their fee structure. However, what they DON’T say is that this is not transacted as a purchase, like it claims on their site, but instead is charged as a cash advance. So therefor I have to incur MORE astronomical fees by my bank.

You already make me call my bank each time I’ve purchased crypto, so after going through extensive verifications, there is no worry that I will later try to reverse the charges or claim that it wasn’t me making them. So there is absolutely no reason for you to charge this as a cash advance.

Shame on you for doing this, and not being transparent about it!

submitted by /u/ednichol
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