Topic: How many people are using Bitcoin debit card? - page 5. (Read 10611 times)

I don't think that the fee will come down any lower. Right now, I am paying around 3% fee for cash withdrawals from my Bit-X debit Card. I am paying a slightly higher fee, for cash withdrawals using my credit card (which is issued by one of the local banks). The fee seems reasonable to me. So the only option is to get used to it. 

It will become trendy when the fees will be lower than that are at the moment. But if we have a good amount of btc then its ok and for emergencies it is just fine enough.

I dont know how many people use it, but eventually people will start to.

Yes it costs more to buy but think about it, your money is safe and it doesnt get inflated. It might not be trendy yet, but soon it will be.

Also its efficient since you can pay with it right away and not have to wait 10 min to confirm.

I also don't one because of as of now I don't see any need of it. I can easily trade my coins without any debit card.

I would rather use my smartphone if I want to pay in Bitcoin. If the merchant is not accept Bitcoin then too bad for him. They should get with the times and start accepting it. I don't use debit cards whether its bitcoin or fiat.

useful to withdraw your earnings

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For the coinomat debit card here is the link with fees: https://coinomat.com/cards.php
And bit-x debit card https://bit-x.com/guide/bitx-cards

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always useful to have such a thing available in emergencies though, why would a person care about transaction fees in emergency anyway. I have a seperate bank credit card for such emergencies, its my back up account. The ones I use on a rainy day, but its all good. I am trying to use the most out of what banks could do for me, but bitcoin somehow seems as an overall satisfaction, just craving more adoption for better transactions.

I'm planning to get 1 for myself but I will not use it like my regular credit card, just for emergency purposes only and I heard fee's are kinda high

I'm planning to get 1 for myself but I will not use it like my regular credit card, just for emergency purposes only and I heard fee's are kinda high

I also don't one because of as of now I don't see any need of it. I can easily trade my coins without any debit card.

I don't have one myself, well at least don't have anything in it. But I do know people who use it, it is pretty nice. Fees are not low though. I still prefer regular, btc is just my hobby.

I have a little over looked...
The fees are higher than my amount in bitcoin...

Do you have bank or debit card?

If so do you use it? If you do then you already understand the convenience of a debit card.

I do not understand why people cannot see the use of a bitcoin debit card.

Think of it this way. If you receive bitcoins you can use it to to buy things online or at a retail outlet where bitcoin is accepted. If not then you are forced to use your normal bank card and or fiat money.

You can off course also send your bitcoin to an exchange, sell it and then withdraw the money you received from the sale to your bank account and then withdraw that money and or use your bank card. This whole process has several fees attached to it. First you pay a fee to send your bitcoin to the exchange, then you pay commission on the sale of your bitcoin, you then pay a fee to have the money sent to your bank and again when you withdraw the funds from your bank.

Instead of going through all of the above you can just send your bitcoin to say either Xapo and or Bit-x and thats it. You pay one fee. You then just use your card to buy whatever you want wherever you want, whether they accept bitcoin or not does not matter. No need to sell or convert your bitcoin, you just swipe your card.

And yes, there are fees but they are not as high as everybody makes them out to be. The whole process of converting your bitcoin to fiat is just as expensive and it takes days. With a debit card linked to your wallet you can start swiping the moment the funds are confirmed.

So the choice really is whether you only want to use your bitcoin at places that accept bitcoin and or whether you want to use your bitcoin whenever you want to. With a debit card you can and its much more convenient than going through the whole exchange thing.