bitcoin from prepaid credit cards? | Bitcointalksearch.org

Kiwigoeswest

newbie

Activity: 13

Merit: 0

Lol privat bank in russia, interesting. They might loose license soon. BTW it seems some larger Russian bank bought them. Btw creative tip

Quote from: klmist on May 13, 2014, 01:32:59 PM

Quote from: mickel_w on May 11, 2014, 07:00:32 AM

Hi, im new to the forums and bitcoin. Not sure if this is the right thread for this, but it seems to be the most suitable one.

Anyway, i was wondering whether its possible to obtain bitcoins from a prepaid credit card. These are usually sold under a gift card section in the shop, and theyre usually a visa or american express card where i live, with different values (i live in the UK). I have checked coinmama.com and they said they do not accept any form of gift card. I have also heard of bitcoin gift cards, but i dont think these are sold around here.

If anyone knows of a service that does this or whether its possible at all, any help would be appreciated.

You can do it using liqpay. https://secure.privatbank.ru/?do=index_new .. once you have topped up your liqpay account using the debit card you can move the funds to btc-e or bitstamp using https://technocashier.com/reg.php?lang2=

The fees aren't too bad.. but not great either (probably around 6-8% in all). I have used it with www.idtprime.com prepaid mastercards that you can buy in most convenience stores.

acoindr

legendary

Activity: 1050

Merit: 1002

I believe the service you're looking for is Purse.IO which lets you buy bitcoins by using a credit card to purchase things on sites like Amazon.

I think the way it works is a person who has bitcoins and wants to buy something on a site that doesn't accept bitcoins places the order with Purse.io. Then a person with a credit card (or prepaid credit card I'm guessing too) buys the item for the person who then transfers that amount in bitcoins to the person with the card, having them effectively buy bitcoins with a credit card.

klmist

newbie

Activity: 35

Merit: 0

Quote from: mickel_w on May 11, 2014, 07:00:32 AM

Hi, im new to the forums and bitcoin. Not sure if this is the right thread for this, but it seems to be the most suitable one.

Anyway, i was wondering whether its possible to obtain bitcoins from a prepaid credit card. These are usually sold under a gift card section in the shop, and theyre usually a visa or american express card where i live, with different values (i live in the UK). I have checked coinmama.com and they said they do not accept any form of gift card. I have also heard of bitcoin gift cards, but i dont think these are sold around here.

If anyone knows of a service that does this or whether its possible at all, any help would be appreciated.

You can do it using liqpay. https://secure.privatbank.ru/?do=index_new .. once you have topped up your liqpay account using the debit card you can move the funds to btc-e or bitstamp using https://technocashier.com/reg.php?lang2=

The fees aren't too bad.. but not great either (probably around 6-8% in all). I have used it with www.idtprime.com prepaid mastercards that you can buy in most convenience stores.

sclaggett

newbie

Activity: 45

Merit: 0

In today's marketplace the only "giftcards" with the lowest fees or no fees to the consumer are merchant cards. This is because the merchant pays processors the fees directly and most regulatory bodies cracked down on fees with these closed loop cards.

Open loop card fees are the most expensive. A recent survey showed the following:

Activation feed can range from as little as $2.00 to $9.00
Transaction fees ranging from 35¢ to $2.50 on some cards ( this is every time the card is used)

There are also inactivity fees and replacement cost fees.

The net of this is that on a $100 open loop card (visa/MC) you could end up paying 10% in fees easily.

This is a market poised for disruption by virtual currencies to better serve the under-banked and eventually the general population. Volatility in virtual currency is a current impediment for this moving forward. Nobody wants to wake up in the morning and see their $100 card become an $85 card overnight

mickel_w

newbie

Activity: 3

Merit: 0

Quote from: q119108 on May 11, 2014, 10:11:41 AM

Yes, bitcoin can be bought using credit card, but need to pay more fee.

I am not talking about credit cards given out by banks, but rather prepaid credit cards, such as VISA, maestro or american express, bought as gift cards with a certain value of cash loaded onto them. They cannot be topped up with funds, and lose their value over time. You can only spend the amount of money loaded onto the card in the first place.

neighborrr

newbie

Activity: 39

Merit: 0

Quote from: q119108 on May 11, 2014, 10:11:41 AM

Yes, bitcoin can be bought using credit card, but need to pay more fee.

There is no way not to pay fee? how high is it?

q119108

member

Activity: 84

Merit: 10

Yes, bitcoin can be bought using credit card, but need to pay more fee.

mickel_w

newbie

Activity: 3

Merit: 0

Hmm yeah, ive seen a website which exchanges with a 30% fee... im not going to be exchanging large amounts of money, so anything with a max 10% fee would be ok. Has anyone heard of bitcoin gift cards and whether you can place the bitcoins right into your wallet? Also, how exactly would i be able to 'send' the cash via a service such as moneygram to convert it into bitcoins?

makebitcoin

sr. member

Activity: 308

Merit: 250

Quote from: trackmaster on May 11, 2014, 07:27:22 AM

You can buy crypto from a few locations. I am not in the UK, but localbitcoins.com should work for you. Several other options also exist like
Coinbase. Be careful investing too much (I should take my own advise) as the markets are very volatile with huge swings. I also monitor other crypto
values using http://coinmarketcap.com/
Another item I have not signed up for yet, but intend to is the Xapo debit card. Please do your own research and trust your better judgment. Feel
free to contact me if you would like additional resources. Best of luck to you.
-Trackmaster-

Its harder to buy them with prepaid credit cards. Most people on Localbitcoins and other exchanges only accept other payment methods like bank transfer.
The only place Ive found where you can exchange prepaid creditcards is VirWox, but they have really high fees. You could try exchanging your creditcards for cash and then send that cash via a service like WesterUnion or MoneyGram.

trackmaster

member

Activity: 84

Merit: 12

You can buy crypto from a few locations. I am not in the UK, but localbitcoins.com should work for you. Several other options also exist like
Coinbase. Be careful investing too much (I should take my own advise) as the markets are very volatile with huge swings. I also monitor other crypto
values using http://coinmarketcap.com/
Another item I have not signed up for yet, but intend to is the Xapo debit card. Please do your own research and trust your better judgment. Feel
free to contact me if you would like additional resources. Best of luck to you.
-Trackmaster-

mickel_w

newbie

Activity: 3

Merit: 0

Hi, im new to the forums and bitcoin. Not sure if this is the right thread for this, but it seems to be the most suitable one.

Anyway, i was wondering whether its possible to obtain bitcoins from a prepaid credit card. These are usually sold under a gift card section in the shop, and theyre usually a visa or american express card where i live, with different values (i live in the UK). I have checked coinmama.com and they said they do not accept any form of gift card. I have also heard of bitcoin gift cards, but i dont think these are sold around here.

If anyone knows of a service that does this or whether its possible at all, any help would be appreciated.

Topic: bitcoin from prepaid credit cards? (Read 2674 times)