Crypto debit card for FIAT payments - would you use one? - page 2.

artbart

jr. member

Activity: 95

Merit: 1

Quote from: reactorjuno on December 31, 2018, 08:03:08 AM

Hi artbart, I will be honest, I would be very interested.
Some replies on here make me laugh. "Bitcoin is not to be spent in fiat currencies" well speak for you, but the big majority of people are like me, they either hold, or cash out their profit in fiat currencies to pay for flight tickets, nice vacations, nice gifts.
Who buys things with Bitcoin?

I will be very interested to use your service if the exchange rate is fair and close to what Bitstamp offers right now. However it looks like a tricky process, both Advcash and Mistertango had their cards disabled last year. Advcash is working hard again to deliver a new one but it is taking forever.

Great, I'll let you know when it is available from us. We'll use a different flow to process these payments, so, I hope we will build a sustainable service for crypto debit card. And again, as I've mentioned before, this card will not be crypto card, it will be a regular FIAT card, but processed, hopefully, in a smarter way, than competition does.

Harlot

hero member

Activity: 1806

Merit: 672

IMHO I think that this Mastercard debit card link is not necessary as long as you are well connected to any banks that you of course would offer fast deposits. I would actually prefer this one as I know I could easily liquidate my position with the exchange. What you are offering is good but it will just actually encourage me on spending my earnings more with a debit card in my hand. But on the other hand you will have a different market for what you are offering as not all people would like a debit card because of what I have said.

reactorjuno

member

Activity: 322

Merit: 43

Quote from: artbart on December 13, 2018, 04:35:58 AM

Hello,
I'm here to explore the demand for crypto debit card.

The basics behind it is actually very simple:
1. You own some crypto funds on your account on an exchange (crypto/FIAT markets) that has partnered with a debit card provider. You'd have to identify yourself (pass KYC).
2. You get the card. It is a basic mastercard debit card for FIAT payments. No magic.
3. When you use it, it automatically exchanges your crypto to FIAT based on the amount you're spending. You would even be able prioritize the order in which your crypto is to be exchanged the first, the second, etc.

So, would you use one?
If yes, would such service motivate you enough to open an account on the exchange that is not (yet) one of the TOP ones?

Disclaimer: I'm a business owner in a position to offer such service. Knowing your opinion would help me a lot. So, thanks in advance!

Hi artbart, I will be honest, I would be very interested.
Some replies on here make me laugh. "Bitcoin is not to be spent in fiat currencies" well speak for you, but the big majority of people are like me, they either hold, or cash out their profit in fiat currencies to pay for flight tickets, nice vacations, nice gifts.
Who buys things with Bitcoin?

I will be very interested to use your service if the exchange rate is fair and close to what Bitstamp offers right now. However it looks like a tricky process, both Advcash and Mistertango had their cards disabled last year. Advcash is working hard again to deliver a new one but it is taking forever.

artbart

jr. member

Activity: 95

Merit: 1

Quote from: Lexurdania on December 20, 2018, 07:54:51 PM

I think i will use the debit card and i dont have a problem with doing KYC. In these days, if we want government regulate cryptomarket, government should know because its about collecting taxes. I am believe there is nothing wrong with KYC because we not using crypto for criminal activity

that is almost exactly my point of view too. Avoiding KYC to me means, you are actually avoiding taxes. Or you are simply washing money or finance criminals.

Lexurdania

member

Activity: 840

Merit: 10

I think i will use the debit card and i dont have a problem with doing KYC. In these days, if we want government regulate cryptomarket, government should know because its about collecting taxes. I am believe there is nothing wrong with KYC because we not using crypto for criminal activity

TrezorMade

jr. member

Activity: 74

Merit: 9

I think STK has a partnership with mastercard.

bayu7adi

hero member

Activity: 1470

Merit: 555

dont be greedy

usually debit cards have limitations in making transactions, so I am not interested in using them
interested friends here might consider the features and services that will be obtained, and of course the differences using FIAT-based crypto vs debitcard-based debit cards

CarnagexD

sr. member

Activity: 1498

Merit: 374

Leading Crypto Sports Betting & Casino Platform

Quote from: The Sceptical Chymist on December 14, 2018, 03:39:17 PM

Quote from: BitHodler on December 13, 2018, 07:57:48 AM

It makes no sense to me to use a crypto related debit card to spend fiat the same way I can spend fiat already with my legacy debit card. I rather convert the coins to fiat myself and then spend them whenever I want.

Yup, I've been saying the same thing ever since I discovered bitcoin, which I've always viewed as an investment and not a currency (even though I've used it to buy things from merchants when I'm out of fiat).

On the old JREF forum, they used to say that bitcoin is a solution in search of a problem that doesn't exist. I don't view it in such an extreme way, but the fact is that businesses don't want bitcoin, they want fiat. When you buy something with bitcoin using a payment processor, they're just converting the bitcoin to fiat--and that's what the merchant gets.

I get my paycheck in fiat and tend to always have more fiat than I do crypto, so I would have no use for a crypto debit card, nor would I want to go through a KYC process with a company that I didn't trust. I already let my bank do that, and that's bad enough.

That's good project but it is not yet available globally. Often time people hold on to their token or price coin instead of using it for simple transaction. Availability of your supposed project would be a main problem for all crypto holder. Good luck on your project.

deppil

hero member

Activity: 1008

Merit: 501

Quote from: Pab on December 15, 2018, 02:15:49 PM

I prefer to have wallet with both fiat and crypto and easyy exchange between currencies
I am afraid that kind of cards use will be expensive
But i have been reading that Samsung will release phone with wallet app what wll support crypto
I don't know details but i imagine that phone will work like that kind of cards

There are thousands and even countless existing payment methods. there are many vendors making new wallets for payment methods. the point is feud and rivalry in payment methods not only crypto debit cards and fiat debit cards but there are still many others ?

nasipadang

sr. member

Activity: 1274

Merit: 252

actually the concept is good and I'm sure there are many people who think about this concept, back again to the shortcomings where the crypto value is fluctuating and later certainly many people will complain about this especially the market does not support this concept.

UchihaRukawa

full member

Activity: 364

Merit: 100

Quote from: artbart on December 13, 2018, 04:35:58 AM

Hello,
I'm here to explore the demand for crypto debit card.

The basics behind it is actually very simple:
1. You own some crypto funds on your account on an exchange (crypto/FIAT markets) that has partnered with a debit card provider. You'd have to identify yourself (pass KYC).
2. You get the card. It is a basic mastercard debit card for FIAT payments. No magic.
3. When you use it, it automatically exchanges your crypto to FIAT based on the amount you're spending. You would even be able prioritize the order in which your crypto is to be exchanged the first, the second, etc.

So, would you use one?
If yes, would such service motivate you enough to open an account on the exchange that is not (yet) one of the TOP ones?

Disclaimer: I'm a business owner in a position to offer such service. Knowing your opinion would help me a lot. So, thanks in advance!

In my opinion, this could be nice in a way, it automatically turn your fiat to cryptocurrency, no need to go to a trading site or app to convert your fiat to cryptocurrency. one good thing that bothers me is the fact that cryptocurrencies are highly volatile, which means that if I borrowed an amount of coin and the market went down, then I would have to pay it in a much higher price, but it is a good thing if the market goes green though.

Renaldi blackspadeteam

full member

Activity: 504

Merit: 100

frankly, I'm not interested in making crypto debit cards because they have to be KYC, that's troublesome, because I haven't created my identity document. but if I already have documents, maybe I will make it.

if to open an exchange that has not yet entered from TOP, maybe I will be vigilant because there are many scam exchanges.

hatshepsut93

legendary

Activity: 3024

Merit: 2148

When I use my bank account, I have at least some level of government protection and reassurance that my bank won't vanish overnight, although I still try not to have more money there than I can afford to lose. But it's worse with these crypto debit cards, because crypto companies exit scam way more often than traditional payment companies and banks. So why should I use them if my current card works well enough?

artbart

jr. member

Activity: 95

Merit: 1

To those who demand for a 100% crypto card and payments - tmm, this is still the distant future. It will come, but not tomorrow. If your income is not mostly based on crypto, good, you can wait. But there are a few (not a majority), that earn from crypto or simply want to spend it now. Now... So, crypto debit card (which is actually a FIAT card) enables you to freely spend your crypto as FIAT. It is convenient and shortens "the sell crypto for fiat -> withdraw fiat to your fiat bank -> use_it" to just hassle-free "use_it" part.

We believe you may be interested is such solution now, if:
a) your bank does not accept FIAT withdrawals from your exchange.
b) you need a convenient hassle-free way to simply buy stuff in the FIAT world.
c) you have no clue about the crypto "thing", but you happen to own some (eg: check Lympo project).
d) you want to evade taxes. We do not encourage that, but such use case exists.

For those who want anonymity - forget the fiat then. Or sell your crypto in cash face-to-face. KYC/AML are the things to be more and more strict in the close future. Just.

boty

full member

Activity: 1190

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This crypto and fiat can join and become one payment but you have to know that it requires a lot of development and it is very difficult because not everyone knows about cryptocurerncy.

el kaka22

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www.Crypto.Games: Multiple coins, multiple games

Quote from: artbart on December 13, 2018, 04:35:58 AM

Hello,
I'm here to explore the demand for crypto debit card.

But, I guess revolutions moved past the debit card issue as well, we now have ability to pay with our mobile phones.
Even on the verges of civilization people have smart phones that can download apps and can be used to pay for something.

You can use your phone app to withdraw cash from atm, you can use it to pay for taxi cab, you can use it to buy groceries, you can buy on cafe. Basically apps are now the new debit cards, credit card is still an issue but at least for debit now there are apps for it.

Hence, if any company wants to create a crypto debit card they are following the trends a bit behind and instead they should be focusing on getting an app made that will allow us to use our phones to pay with crypto while the receiver will take it as fiat instead of crypto, basically be a middleman.

Bobby park

member

Activity: 546

Merit: 24

Quote from: artbart on December 13, 2018, 04:35:58 AM

Hello,
I'm here to explore the demand for crypto debit card.

The basics behind it is actually very simple:
1. You own some crypto funds on your account on an exchange (crypto/FIAT markets) that has partnered with a debit card provider. You'd have to identify yourself (pass KYC).
2. You get the card. It is a basic mastercard debit card for FIAT payments. No magic.
3. When you use it, it automatically exchanges your crypto to FIAT based on the amount you're spending. You would even be able prioritize the order in which your crypto is to be exchanged the first, the second, etc.

So, would you use one?
If yes, would such service motivate you enough to open an account on the exchange that is not (yet) one of the TOP ones?

Disclaimer: I'm a business owner in a position to offer such service. Knowing your opinion would help me a lot. So, thanks in advance!

Crypto card for me is not a good type of investment project nor to be bought. A lot of cryptorrency card project that I already joined but I failed to gain profits with their ICO. Most of it are scam or a failed project. So, I already doubt regarding to a debit card transforming into crypto debit card. I want to use only digital wallet because I already proof that it is a good way to transact cryptocurrency.

Pab

legendary

Activity: 1862

Merit: 1012

I prefer to have wallet with both fiat and crypto and easyy exchange between currencies
I am afraid that kind of cards use will be expensive
But i have been reading that Samsung will release phone with wallet app what wll support crypto
I don't know details but i imagine that phone will work like that kind of cards

sarfield

full member

Activity: 588

Merit: 100

It seems difficult also if there is a crypto debit for payments with fiat the problem is that only a small number of companies are able to have cryptosystems, many of which are payments with fiat. Maybe if all can receive crypto automatically the crypto debit card can be used for fiat payments.
And if that happens I will also use a crypto debit card.

South Park

hero member

Activity: 2884

Merit: 794

I am terrible at Fantasy Football!!!

Quote from: artbart on December 13, 2018, 04:35:58 AM

Hello,
I'm here to explore the demand for crypto debit card.

The basics behind it is actually very simple:
1. You own some crypto funds on your account on an exchange (crypto/FIAT markets) that has partnered with a debit card provider. You'd have to identify yourself (pass KYC).
2. You get the card. It is a basic mastercard debit card for FIAT payments. No magic.
3. When you use it, it automatically exchanges your crypto to FIAT based on the amount you're spending. You would even be able prioritize the order in which your crypto is to be exchanged the first, the second, etc.

So, would you use one?
If yes, would such service motivate you enough to open an account on the exchange that is not (yet) one of the TOP ones?

Disclaimer: I'm a business owner in a position to offer such service. Knowing your opinion would help me a lot. So, thanks in advance!

There will probably demand for such service but I am not one of those that will use it because I am not really in any hurry to use my bitcoin to buy stuff, I am going to wait until bitcoin becomes adopted in my country and I know that process will take a long time since I have yet to see a person or a business that uses bitcoin for anything but I have no problems waiting a long time.

Topic: Crypto debit card for FIAT payments - would you use one? - page 2. (Read 662 times)