Crypto cards in day to day life and will they replace traditional ones. - page 3.

NeuroticFish

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Quote from: tom14cat14 on March 22, 2018, 07:18:26 AM

Hey, I see you are quite experienced in this question, what do you think about this project and its terms? Looking good to my mind, its available to make pre-order as well - https://bonpay.com/fees/

I am not really "experienced", but I've had 2 cards and was doing a lot of research while the cards have become unavailable.

I don't know Bonpay, but let's see, from what they show and what they don't:
* I don't see the card fees - from issuing to monthly/yearly management fee
* I don't see the fees for using the card at ATM (unless it's virtual?)
* I don't see the fees for converting from card currency to national currency
* I don't see the BTC/USD BTC/EUR conversion rates they use

So I can't tell how good the card is, they don't tell enough. Also pre-order means they don't have it yet.
For now I know only of one card provider that may worth working with for a normal user, all the others have issues (most have no cards available now) or too big fees.

antolinicio1

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Quote from: consigliere on March 22, 2018, 03:05:22 AM

What are the daily limits for withdrawing funds guys from such cards? Does it depend on card issuer or ATM? Just wonder how can someone go in cash big sums e.g. $100k?

Usually the weekly limit is 8-10k dollars. But it depends on the project that produces the cards. I would not worry about limits, but about percentages when converting.

morgan4140

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Quote from: tom14cat14 on March 22, 2018, 07:18:26 AM

Quote from: NeuroticFish on March 22, 2018, 06:37:27 AM

Quote from: morgan4140 on March 22, 2018, 06:22:49 AM

what do you think about Coinsbank? Debit cards Coinsbank give users access to their funds on CoinsBank accounts. Cards can be used to withdraw money from almost any ATM throughout the world. CoinsBank cards also offer bonus points to cover expenses made with the card.

I was even advertising Coinsbank long years ago. They were back then a pretty solid business, but their fees were big for my standards.
But I've lost touch. I made a small search after your questions and it looks that they also used Wavecrest for their services.
And this means that even if I would know better about their cards at this time, probably it will change depending of the deal they'll make with another card company.

As you can see, even on their site, "cards are temporary unavailable", so all the card info they may show is outdated.

Hey, I see you are quite experienced in this question, what do you think about this project and its terms? Looking good to my mind, its available to make pre-order as well - https://bonpay.com/fees/

That's the problem now. There are no decent debit cards that can be used without any regrets. Bonpay? Need to pay attention to this project. Do they already have wallets?

renault18turbo

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Quote from: tom14cat14 on March 22, 2018, 07:18:26 AM

Quote from: NeuroticFish on March 22, 2018, 06:37:27 AM

Quote from: morgan4140 on March 22, 2018, 06:22:49 AM

what do you think about Coinsbank? Debit cards Coinsbank give users access to their funds on CoinsBank accounts. Cards can be used to withdraw money from almost any ATM throughout the world. CoinsBank cards also offer bonus points to cover expenses made with the card.

I was even advertising Coinsbank long years ago. They were back then a pretty solid business, but their fees were big for my standards.
But I've lost touch. I made a small search after your questions and it looks that they also used Wavecrest for their services.
And this means that even if I would know better about their cards at this time, probably it will change depending of the deal they'll make with another card company.

As you can see, even on their site, "cards are temporary unavailable", so all the card info they may show is outdated.

Hey, I see you are quite experienced in this question, what do you think about this project and its terms? Looking good to my mind, its available to make pre-order as well - https://bonpay.com/fees/

I am well acquainted with this project and moreover, I am an investor in it. Pre-order cards are open, but Bonpay faced and a problem from behind VISA. I hope they decided it?

tom14cat14

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Quote from: NeuroticFish on March 22, 2018, 06:37:27 AM

Quote from: morgan4140 on March 22, 2018, 06:22:49 AM

what do you think about Coinsbank? Debit cards Coinsbank give users access to their funds on CoinsBank accounts. Cards can be used to withdraw money from almost any ATM throughout the world. CoinsBank cards also offer bonus points to cover expenses made with the card.

I was even advertising Coinsbank long years ago. They were back then a pretty solid business, but their fees were big for my standards.
But I've lost touch. I made a small search after your questions and it looks that they also used Wavecrest for their services.
And this means that even if I would know better about their cards at this time, probably it will change depending of the deal they'll make with another card company.

As you can see, even on their site, "cards are temporary unavailable", so all the card info they may show is outdated.

Hey, I see you are quite experienced in this question, what do you think about this project and its terms? Looking good to my mind, its available to make pre-order as well - https://bonpay.com/fees/

NeuroticFish

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Activity: 3668

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Quote from: morgan4140 on March 22, 2018, 06:22:49 AM

what do you think about Coinsbank? Debit cards Coinsbank give users access to their funds on CoinsBank accounts. Cards can be used to withdraw money from almost any ATM throughout the world. CoinsBank cards also offer bonus points to cover expenses made with the card.

I was even advertising Coinsbank long years ago. They were back then a pretty solid business, but their fees were big for my standards.
But I've lost touch. I made a small search after your questions and it looks that they also used Wavecrest for their services.
And this means that even if I would know better about their cards at this time, probably it will change depending of the deal they'll make with another card company.

As you can see, even on their site, "cards are temporary unavailable", so all the card info they may show is outdated.

morgan4140

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Quote from: NeuroticFish on March 22, 2018, 02:52:38 AM

Quote from: BryanK on March 22, 2018, 12:12:50 AM

Thank you for such an informative explanation. That is, do you think that cryptocurrency cards have not yet reached the desired development in order to become a replacement for credit cards?

I think that there's plenty of room for improvement. From what I've seen, most users prefer to have a crypto wallet at the card provider and in many cases it's not possible.
With use of Segwit or even LN the price of transfer from the wallet at card provider to the exchange is 0 (also it can be done in many ways so the transfer may not even happen). This could allow, by user choice, the transfer from crypto to fiat to be done exactly at the time of purchase (if the fiat wallet doesn't have enough funds).

However, the first step is to see the crypto wallets back in use - since the wavecrest problems they just start to get back to business - and when all is good, then the competition will force them to improve.

what do you think about Coinsbank? Debit cards Coinsbank give users access to their funds on CoinsBank accounts. Cards can be used to withdraw money from almost any ATM throughout the world. CoinsBank cards also offer bonus points to cover expenses made with the card.

MikieRay

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Quote from: consigliere on March 22, 2018, 03:05:22 AM

What are the daily limits for withdrawing funds guys from such cards? Does it depend on card issuer or ATM? Just wonder how can someone go in cash big sums e.g. $100k?

Limits vary depending on what cryptoservice you choose. Usually daily limit is about $2,000.

consigliere

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What are the daily limits for withdrawing funds guys from such cards? Does it depend on card issuer or ATM? Just wonder how can someone go in cash big sums e.g. $100k?

NeuroticFish

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Quote from: BryanK on March 22, 2018, 12:12:50 AM

Thank you for such an informative explanation. That is, do you think that cryptocurrency cards have not yet reached the desired development in order to become a replacement for credit cards?

I think that there's plenty of room for improvement. From what I've seen, most users prefer to have a crypto wallet at the card provider and in many cases it's not possible.
With use of Segwit or even LN the price of transfer from the wallet at card provider to the exchange is 0 (also it can be done in many ways so the transfer may not even happen). This could allow, by user choice, the transfer from crypto to fiat to be done exactly at the time of purchase (if the fiat wallet doesn't have enough funds).

However, the first step is to see the crypto wallets back in use - since the wavecrest problems they just start to get back to business - and when all is good, then the competition will force them to improve.

BryanK

sr. member

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Quote from: NeuroticFish on March 21, 2018, 02:52:33 PM

Quote from: tom14cat14 on March 21, 2018, 12:43:08 PM

Hey, guys, I've been in crypto for quite a long time already, but still have not obtained crypto card. My question is whether they operate the same way the traditional do or to what point should I pay attention to while choosing ones? Another question is if the rate e.g of BTC is converted to $ while payment with such crypto card or I can fix rate at any time while holding BTC on it?

Crypto cards are pre-paid cards. This means that at some point you convert some of your coins into fiat and add it to the fiat balance. While you have fiat balance, you can buy things. So you really have to replenish the fiat balance from time to time to make sure it doesn't get to 0.
The card providers have various ways to operate. Some allows you to keep crypto and fiat, some keep only fiat, so you replenish from your wallet.
What to be careful of? The fees. There are plenty of visible and hidden fees, you should be aware of them, from crypto conversion fee to fiat - fiat conversion (USD to EUR if you chose badly the card). And you have to be aware that most of them have quite bad conversion price (BTC to USD).
Some have gateway fee, or the deposit fee has a quite big minimum value.
All in all, like with all financial services, there are a lot of places they try to squeeze off you some more dollars.

Thank you for such an informative explanation. That is, do you think that cryptocurrency cards have not yet reached the desired development in order to become a replacement for credit cards?

renault18turbo

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All that the projects on crypto-currency cards offer, it is worthy to pay attention to it. For example, when converting from crypto currency to fiat, there will be no commissions. This is a great progress. I would prefer the use of such cards, but now there are no decent ones.

Profuter

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Quote from: tom14cat14 on March 21, 2018, 12:43:08 PM

Hey, guys, I've been in crypto for quite a long time already, but still have not obtained crypto card. My question is whether they operate the same way the traditional do or to what point should I pay attention to while choosing ones? Another question is if the rate e.g of BTC is converted to $ while payment with such crypto card or I can fix rate at any time while holding BTC on it?

What the crypto card? Never heard of it.

Quote from: JohnMacZeppelin on March 21, 2018, 01:07:19 PM

Today, a lot of similar projects, as far as I know there is such a wonderful project as Denaro or a project like TenX or Centra, although I can not be sure that these projects will be able to make debit cards.

They say that Denaro scam and if I am not mistaken, it has already been confirmed.

Olajide Olaoluwa

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This quote is very true. If you want to join the Techspecs ICO, you can still invest so that you get all benefits and rewards from this promising project.

NeuroticFish

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Quote from: tom14cat14 on March 21, 2018, 12:43:08 PM

Hey, guys, I've been in crypto for quite a long time already, but still have not obtained crypto card. My question is whether they operate the same way the traditional do or to what point should I pay attention to while choosing ones? Another question is if the rate e.g of BTC is converted to $ while payment with such crypto card or I can fix rate at any time while holding BTC on it?

Crypto cards are pre-paid cards. This means that at some point you convert some of your coins into fiat and add it to the fiat balance. While you have fiat balance, you can buy things. So you really have to replenish the fiat balance from time to time to make sure it doesn't get to 0.
The card providers have various ways to operate. Some allows you to keep crypto and fiat, some keep only fiat, so you replenish from your wallet.
What to be careful of? The fees. There are plenty of visible and hidden fees, you should be aware of them, from crypto conversion fee to fiat - fiat conversion (USD to EUR if you chose badly the card). And you have to be aware that most of them have quite bad conversion price (BTC to USD).
Some have gateway fee, or the deposit fee has a quite big minimum value.
All in all, like with all financial services, there are a lot of places they try to squeeze off you some more dollars.

trumper

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In the short term, they can replace nothing, even regulatory aspect of most things related to crypto is not clear so it slow down current projects on this industry, also traditional ones can offer crypto cards.

COINISM0001

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It can be solved as soon as the G20 and different govts figure out the following :

1) How to tax crypto cards

2) how to control money moving outside their territories through crypto-cards

This will determine the existence of cards

Quote from: tom14cat14 on March 21, 2018, 12:43:08 PM

Hey, guys, I've been in crypto for quite a long time already, but still have not obtained crypto card. My question is whether they operate the same way the traditional do or to what point should I pay attention to while choosing ones? Another question is if the rate e.g of BTC is converted to $ while payment with such crypto card or I can fix rate at any time while holding BTC on it?

BryanK

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Quote from: adzino on March 21, 2018, 02:12:54 PM

Quote from: tom14cat14 on March 21, 2018, 12:43:08 PM

Hey, guys, I've been in crypto for quite a long time already, but still have not obtained crypto card. My question is whether they operate the same way the traditional do or to what point should I pay attention to while choosing ones? Another question is if the rate e.g of BTC is converted to $ while payment with such crypto card or I can fix rate at any time while holding BTC on it?

By crypto card do you mean bitcoin based prepaid/debit card? Yeah they do operate the same way the traditional debit card works. As far as i know you will have to top up your card before you can use it. So the rates are the one used when you will be filling your card with fiat currency.

It is logical that need to have a balance on the card before start using it. Can you give an example of functioning cryptocurrency cards today?

adzino

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Quote from: tom14cat14 on March 21, 2018, 12:43:08 PM

Hey, guys, I've been in crypto for quite a long time already, but still have not obtained crypto card. My question is whether they operate the same way the traditional do or to what point should I pay attention to while choosing ones? Another question is if the rate e.g of BTC is converted to $ while payment with such crypto card or I can fix rate at any time while holding BTC on it?

By crypto card do you mean bitcoin based prepaid/debit card? Yeah they do operate the same way the traditional debit card works. As far as i know you will have to top up your card before you can use it. So the rates are the one used when you will be filling your card with fiat currency.

Lerikaweb

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You should pick one with the lowest fees, because they are mostly high. These cards are npt really popular, because most of them caanot be recognized by atms. So you still use your online bank, which makes a card useless. Maybe in your city there is an atm which accepts such cards.

Topic: Crypto cards in day to day life and will they replace traditional ones. - page 3. (Read 533 times)