Credit cards and Bitcoin – Uneasy partners
F or about a year, Titan Mint was just about the only place in the world where customers could reliably purchase bitcoins via credit card. It was great for helping newcomers buy their first bitcoin and it was great for selling our unique products.
Unfortunately, working with bitcoin companies is a political issue right now for the banks that provide backing for merchant accounts. While we are continually working to make purchasing more convenient for our customers, our options for processing VISA/MC/AMEX at the moment incur unreasonably high fees for those customers. As a result, we’re working to develop new banking relationships. It takes time to do this and we’ll be accepting credit cards once again when we can do so without our customers being charged exorbitant, unjust fees. Current customers will need to pay by check, wire transfer, cash deposit or bitcoin until we’ve made that happen.
Bitcoin directly and immediately threatens to upend the existing payment infrastructure, which means that resistance is expected and necessary. Early adopters like yourself will often be faced with some inconvenience in your quest to support innovation. Paul Revere’s ride was long, tiring and uncomfortable, but it was a necessary discomfort to facilitate a successful revolution. In buying and using bitcoin, each one of you is carrying a lantern that shows others the possibilities of a new and better system of money. Thank you, sincerely, for the part you’re playing in the digital currency revolution.
President, Titan Mint