Leading US banks have banned using credit cards to buy bitcoin and other cryptocurrencies. Among this banks are JPMorgan Chase & Co, Bank of America and Citigroup. Soon the major British financial institution Lloyds Banking Group has also introduced the same ban. According to the banks representatives, the ban does not apply to  cryptocurrency purchases with debit cards.

The financial institutions’ decision is explained by concern that customers will fail to pay their credit card bills. The point is that often credit card holders can’t pay off debts because of unpredictable rise and falls of bitcoin.

Despite the recent drop in the rate of bitcoin (its price has dropped below $8,000), the cryptocurrency is still a very attractive asset for investment.