In February, TD announced that it would not allow its clients to purchase bitcoins with any of their credit cards. Scotiabank quickly followed suit, but went a step further by banning the use of both credit and debit cards. Recently, in a leaked document post on Reddit, it was revealed that BMO circulated an internal document outlining the outright ban of cryptocurrencies through any online exchange, and any payment method tied to their systems, such as debit, credit or Interac online payments.



The recent policy changes have angered many loyal and long-time customers, and rightfully so. Banks understand that Blockchain technology and decentralized cryptocurrencies have the potential to completely upset the current financial system. If consumers no longer need banks to purchase, hold, or invest their money, the usefulness of these institutions diminishes significantly.



While this turn of events may leave a sour taste in consumers’ mouths, there’s light at the end of the tunnel. Individuals can still purchase crypto using money held in their banks by going to Bitcoin ATMs. Customers simply need to withdraw cash from their banks, and the process is almost identical to purchasing coins on an online exchange. They simply choose the coin they want to buy (we support BTC, ETH, and LTC), scan their wallet’s QR code, then insert cash.



We strongly believe that everyone should have the opportunity to purchase cryptocurrencies. If banks are unwilling to adapt, and accept the fact that Blockchain technology will completely revolutionize finance as we know it, it is our duty to make crypto a part of everyday life. This is why our ATMs require no form of identification at all. We respect our customers’ right to privacy, and want as many individuals as possible to be able to access the crypto ecosystem, regardless of their circumstances.

Blockchain technology will allow us to move away from centralized banking systems, giving everyone the freedom to choose how, and on what, they spend their hard-earned money. We are dedicated to making this a reality, and would love to hear from you about how we can make crypto more approachable and accessible.