Why is my prepaid card being declined when I try to buy cryptocurrencies?

3 answers

• Sandro RukhadzeSep 04, 2020 · 5 years ago
  There could be several reasons why your prepaid card is being declined when you try to buy cryptocurrencies. One possibility is that your card issuer has blocked transactions related to cryptocurrencies as a security measure. Some prepaid cards have restrictions on certain types of transactions, and buying cryptocurrencies may fall into that category. Another reason could be that the cryptocurrency exchange you are trying to use does not accept prepaid cards as a form of payment. It's also possible that there is insufficient balance on your prepaid card to complete the transaction. I would recommend contacting your card issuer and the cryptocurrency exchange's customer support for further assistance.
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• samrudhi daniSep 30, 2022 · 3 years ago
  It's frustrating when your prepaid card gets declined while trying to buy cryptocurrencies. The issue could be due to the fact that prepaid cards are often associated with higher risk transactions, such as those involving cryptocurrencies. Some card issuers may have policies in place to protect their customers from potential fraud or unauthorized transactions. Additionally, certain cryptocurrency exchanges may have stricter payment acceptance policies, which could exclude prepaid cards as a valid payment method. It's best to contact your card issuer and the cryptocurrency exchange's support team to understand the specific reason for the decline and explore alternative payment options.
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• Kevin WangMay 23, 2021 · 4 years ago
  At BYDFi, we understand the frustration of having your prepaid card declined when attempting to purchase cryptocurrencies. While we do not accept prepaid cards as a form of payment, there are several reasons why your card may be declined on other platforms. One possibility is that your prepaid card does not support international transactions, and many cryptocurrency exchanges operate globally. Additionally, some card issuers have restrictions on certain types of transactions, and buying cryptocurrencies may fall into that category. It's best to contact your card issuer for more information on why your prepaid card is being declined and explore alternative payment options such as bank transfers or credit/debit cards.
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