Best debit cards to spend BTC | Bitcointalksearch.org

gentlemand

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Quote from: LeGaulois on April 04, 2020, 04:33:42 AM

You're mixing 2 different things: tax evasion and money laundering.
True the Bitcoin card providers have the KYC verification in place but do you think it's to fight the tax evasion? They do not care and don't have to snitch their users. Do you think they exchange their information with every tax department? Nope.

It's only a matter of time before any above ground service will get a request from the tax man if they haven't already. It's not a great deal of work, they can't refuse and it might snare them plenty of tax. Anyone who believes otherwise is a fool.

A debit card provider is fully plugged in to the existing system and will have to bow to it whenever ordered.

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Quote from: adzino on April 03, 2020, 04:42:46 PM

Quote from: LeGaulois on April 03, 2020, 03:51:51 PM

Quote from: TryNinja on April 03, 2020, 03:34:23 PM

A bit off topic but why people don't sell their BTC and use their own debit cards instead of using a crypto funded one? In the end it's the same thing but with less fees. The company behind the card has to sell your BTCs to pay the merchant with fiat. What's the advantage?

- Underbanked or unbanked people and there are millions, in the US it represents ~25%of the population and there are 2 billion worldwide
- Some banks are not very friendly with funds coming from exchanges
- Taxes evasion
- Privacy

It's the usual reasons and yes it costs a bit higher but it's not a problem for most people

You sure people use bitcoin based cards for tax evasions and stuffs? Well, if they do, then they are dumb and stupid to be honest. Firstly, most of the bitcoin card providers will ask you to provide with your personal information. Why do you think they do that? Because they have to due to Anti Money Laundering laws or else they won't be able to serve their customers. At least you have to go through KYC in US based companies.
There you go, no privacy either.

Yes, I'm sure.

You're mixing 2 different things: tax evasion and money laundering.
True the Bitcoin card providers have the KYC verification in place but do you think it's to fight the tax evasion? They do not care and don't have to snitch their users. Do you think they exchange their information with every tax department? Nope.

Privacy, here you're mixing with another point.
When I mentioned privacy, it's about privacy with your bank. You may not want your bank to know what you're doing. Either because you don't want them to know you have an extra income (an exotic income I should add, knowing a lot of banks aren't crypto-friendly as I mentioned earlier), or because you have a loan for your house, or because you're in a negative balance, and so many things.

Welsh

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Quote from: gentlemand on April 03, 2020, 03:52:36 PM

A lot of people are paranoid about their bank getting funny with them and that's a valid worry depending on where you are.

I've seen others reckon it magically shielded them from the tax man. Erm, nope.

I remember when the Wavecrest cards got stopped and from the outrage it seems like for a lot of people it was their one and only option. Maybe there's less banking out there than we think.

Despite my recent criticisms of a well known bank within the United Kingdom I still think most banks don't have a problem with Bitcoin itself, but the high potential of scams, and shady business practices that operate within the cryptocurrency space. For example, every day we get a new altcoin/ICO scam. So, I can understand banks being rather reluctant to sort of trust their customers to make good judgement calls, because if they don't follow the protocols then they'll probably find themselves in deep water if too many people complain. Its a double whammy, but cryptocurrencies are a highly risky business depending on where you're sourcing them from.

gentlemand

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Quote from: adzino on April 03, 2020, 04:42:46 PM

You sure people use bitcoin based cards for tax evasions and stuffs? Well, if they do, then they are dumb and stupid to be honest.

There is the occasional card that still pops up and claims to be anonymous but more than likely they're scams. Even if they're not scams it's only a matter of time before Visa found them and squashed them.

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Quote from: LeGaulois on April 03, 2020, 03:51:51 PM

Quote from: TryNinja on April 03, 2020, 03:34:23 PM

A bit off topic but why people don't sell their BTC and use their own debit cards instead of using a crypto funded one? In the end it's the same thing but with less fees. The company behind the card has to sell your BTCs to pay the merchant with fiat. What's the advantage?

- Underbanked or unbanked people and there are millions, in the US it represents ~25%of the population and there are 2 billion worldwide
- Some banks are not very friendly with funds coming from exchanges
- Taxes evasion
- Privacy

It's the usual reasons and yes it costs a bit higher but it's not a problem for most people

You sure people use bitcoin based cards for tax evasions and stuffs? Well, if they do, then they are dumb and stupid to be honest. Firstly, most of the bitcoin card providers will ask you to provide with your personal information. Why do you think they do that? Because they have to due to Anti Money Laundering laws or else they won't be able to serve their customers. At least you have to go through KYC in US based companies.
There you go, no privacy either.

TryNinja

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Quote from: LeGaulois on April 03, 2020, 03:51:51 PM

- Underbanked or unbanked people and there are millions, in the US it represents ~25% and 2 billion worldwide

I obviously can't know, but I would normally think isn't the case for OP or most crypto-card users. I may be completly wrong, tho.

Quote from: LeGaulois on April 03, 2020, 03:51:51 PM

- Some banks are not very friendly with funds coming from exchanges

In the end, you are still using Mastercard/Visa/some smaller card processor, which usually are not very crypto-friendly as well. Remember Wavecrest?

Quote from: LeGaulois on April 03, 2020, 03:51:51 PM

- Privacy

Don't most services ask for KYC? And they answer to governments and card processors.

Just being a little devil's advocate here, btw. I personally prefer to get miles with my card and save on fees at the same time. But that's just my reality and I know that some people may get more advantages with crypto-cards (which is why I asked).

gentlemand

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Quote from: TryNinja on April 03, 2020, 03:34:23 PM

A bit off topic but why people don't sell their BTC and use their own debit cards instead of using a crypto funded one? In the end it's the same thing but with less fees. The company behind the card has to sell your BTCs to pay the merchant with fiat. What's the advantage?

A lot of people are paranoid about their bank getting funny with them and that's a valid worry depending on where you are.

I've seen others reckon it magically shielded them from the tax man. Erm, nope.

I remember when the Wavecrest cards got stopped and from the outrage it seems like for a lot of people it was their one and only option. Maybe there's less banking out there than we think.

LeGaulois

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Quote from: TryNinja on April 03, 2020, 03:34:23 PM

A bit off topic but why people don't sell their BTC and use their own debit cards instead of using a crypto funded one? In the end it's the same thing but with less fees. The company behind the card has to sell your BTCs to pay the merchant with fiat. What's the advantage?

- Underbanked or unbanked people and there are millions, in the US it represents ~25%of the population and there are 2 billion worldwide
- Some banks are not very friendly with funds coming from exchanges
- Taxes evasion
- Privacy

It's the usual reasons and yes it costs a bit higher but it's not a problem for most people

TryNinja

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A bit off topic but why people don't sell their BTC and use their own debit cards instead of using a crypto funded one? In the end it's the same thing but with less fees. The company behind the card has to sell your BTCs to pay the merchant with fiat. What's the advantage?

OmegaStarScream

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Quote from: anubizz on April 02, 2020, 07:56:39 PM

Any reviews on this one?:
https://alphacard.me/

Not sure about it. Could be a scam too! I have no personal experience with it!

Yes, it's a scam: https://bitcointalksearch.org/topic/does-anybody-know-alphacard-anonymous-debit-card-possible-scam-5230341

Localcoin is the only service that offers annonymous cards, but it's only available for Canadians.

anubizz

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Any reviews on this one?:
https://alphacard.me/

Not sure about it. Could be a scam too! I have no personal experience with it!

rexxarofmoknathal

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Some exchange called CoinZoom recently released a debit card.

https://www.coinzoom.com/cards/

Not promoting it or even saying you should get it, but it does have some interesting features, like 5% cashback rewards (in their token) and I think 12% APR on deposits.

That said, CoinZoom looks like a relatively new platform, so best to do some digging to see if it's trustworthy.

LeGaulois

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Check out this list https://bitcointalksearch.org/topic/carte-bancaire-bitcoin-et-autres-cryptomonnaies-5223719
Only 1 or 2 cards are missing but I listed all others currently available. I added details such as POS, ATM limits, costs, etc. The list is not in English but hey you know how to translate it :p

Camma23

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@efialtis interesting card too, but not available for Italy though

efialtis

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We do have a thread about crypto debit cards in our German local board where we actually discuss the options for EU/DACH users.

@OP As already mentioned here, common options that should be available for you are of course Coinbase & WIREX. Many German/Austrian users have been very happy with their WIREX card, which is why I am also thinking about getting it. The coinbase card works perfectly fine, I am just not a fan of Coinbase in general.

There´s a new kid on the block though - unfortunately not yet available in Italy but still worth a mention in this thread I guess. People have been waiting for years, literally, and just a few days ago the first people in Germany have received their VISA debit card from TenX. There was quite a hype, it looked "bad" and now they seem to take off, finally. Some great reviews on German social media.

Currently available in Asia Pacific, Germany and Austria.

TenX ANN: https://bitcointalksearch.org/topic/ann-tenx-making-blockchain-assets-spendable-1953612

Website: https://tenx.tech/card

Fees: https://support.tenx.tech/hc/en-us/articles/360039484792-What-are-the-fees-for-using-the-TenX-Visa-Card-and-Wallet-app-

A fellow bud just posted a picture of his card and I just have to share it... that English text... priceless, no? Cool

Quote from: Koal-84 on March 27, 2020, 05:01:52 AM

~snip

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bL4nkcode

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Quote from: Jating on March 28, 2020, 08:04:31 AM

Binance just introduced their own crypto debit card, the OP might want to take a look at it.

https://www.binance.com/en/blog/421499824684900479/Introducing-the-Binance-Card-Shop-and-Pay-With-Crypto-Anywhere-in-the-World

This is only available on malaysia, then vietnam and sure it will be available next on those countries that are much nearer like singapore, macau and even hongkong but too far for EU.

joniboini

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Quote from: Jating on March 28, 2020, 08:04:31 AM

Binance just introduced their own crypto debit card, the OP might want to take a look at it.

He's in EU. Binance just started. Unless he's fine waiting for months or years I doubt this will be his option.

Another option is Crypterium. They said they have $13k spending limit a day and $60k a month.

Jating

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Binance just introduced their own crypto debit card, the OP might want to take a look at it.

Quote

Introducing the Binance Card

The Binance Card does everything a regular payment card does, plus much more. It works like a regular debit card issued by your bank – which, in this case, is your Binance.com account. You simply top-up your card with funds through the Binance Card App in the form of Bitcoin or BNB, and you're ready to go. It's as simple as transferring BNB from one wallet to another. Your card will then use this balance for your card payments and automatically deduct all expenses from the balance every time you make payment. The Binance Card is issued by Visa and accepted by more than 46 million merchants offline and online in 200 regions and territories, which makes shopping with crypto easier than ever before.

https://www.binance.com/en/blog/421499824684900479/Introducing-the-Binance-Card-Shop-and-Pay-With-Crypto-Anywhere-in-the-World

gentlemand

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Quote from: Camma23 on March 28, 2020, 07:32:32 AM

yep man, now I've read, missed that message. this advcash (if legit and serious) looks like the only one with these numbers.

But the doubt is normal : if all the others gran 250/500 max, how they can offer 10x daily numbers? Cheesy

Maybe because they're outside the EU?

Crypto debit cards qualify as prepaid cards. The EU placed a total limit of 200 Euros on a prepaid card with no ID. Maybe there's a similar limit but higher one if you're verified. And in a few countries you can't withdraw more than 1000 Euros in cash from any bank account.

Camma23

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Quote from: gentlemand on March 28, 2020, 06:24:19 AM

Quote from: Camma23 on March 28, 2020, 06:18:42 AM

there isn't any card with higher daily limits than 500? really?

I come from eWallets, where limits were much much higher

Advcash has been mentioned above. They're Russian. I don't know anything about them.

I've had many crypto cards in the past. All of them had very low ATM limits. Bitpay withdrew ATM withdrawals completely for several months in the US. It's an option they're probably paranoid about.

yep man, now I've read, missed that message. this advcash (if legit and serious) looks like the only one with these numbers.

But the doubt is normal : if all the others gran 250/500 max, how they can offer 10x daily numbers? Cheesy

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