Topic: How many people are using Bitcoin debit card? - page 6. (Read 10611 times)

Well it is like the first case then it's better to sell to people or in exchange.
The second case is pretty good and like this should be pay with your bitcoin directly.

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.

A mate in Taiwan says the locals have a debit card they can load btc onto. He sees it getting used quite a bit at 7-11's and the like.

still very small, probably about 15% of the world's population i think

why you bought it then? you should investigate before buying anything in this world

i find those cards pretty useless, bitcoin work with low fee, and those cards increase it, no sense..

Could you explain the whole functioning and procedure of the bitcoin debit card? I find it very hard to understand how it comes handly unless you're using it for trading/exchange with someone who accepts bitcoins and to what I know the whole bitcoin system is not very out other/popular in the world. Seems impractical to me.

No there are others who also offer debit cards but they work on a pre-load basis. This means that you have to send bitcoin to them and they then sell it to convert it to say US$ which they then load onto the card. So the debit card actually works like a prepaid card. There are also fees involved for this loading of the card which makes it more expensive.

With Bit-x and Xapo you do not need to send bitcoins to anyone. The debit cards they have are directly linked to your wallet. So each time you make a purchase on the card the value of that transaction is taken directly off your wallet. So no need to first convert the bitcoin to fiat, it all happens in the background when you make a transaction.

Too expensive for the moment, i prefer wait

Can we know which bitcoin debit card are you using? How was the process until getting/receiving it?
 

It's not just about spreading the bitcoin in the country you are in, but making purchases with you btc, i understand in this way.

Since my country still under develop so many of them still not interest on bitcoin. So it means if they not know bitcoin , they will know bitcoin debit card neither. But honestly I don't like bitcoin debit card since we can transfer everywhere and everytime with single device.


So only  Xapo or Bit-X that implement with debit card ?

I have a btc debit card but haven't used because the price are so high...

The fees yeah are very high if we don't earn too much. Which country are you in? There are many services that you send to them and they can send you the card to you country.

I have never understood the point of Bitcoin debit cards myself either. Bitcoin has the technology to make transactions from your phone to phone or various other devices. I think Bitcoin debit cards are only here for now while the technology is still in its pre-adaptation phase.

I am also interested in debit card but too much high fees and most of companies are not sending in our country just because of this I am unable to take this one but hope in near future I will try one

Recently we can see many debit cards, also one of them is from coinomat, it's also the bit-x, but we must check the fees. It's not bad to have one, i think to get one in future

Easy, in the past I had to cash out my bitcoins on an exchange and after the conversion had to have the funds transferred to my bank account. All of this involve fees and time. The bank transfer part can easily take 2 or more days depending on the exchange.

With a debit card I no longer need to do this. All I do is swipe my card. Everything happens in the background and it works out cheaper. Also, my bitcoins is available instantly, no need to transfer it anywhere first and or to cash it out or anything like that, I just take my card out and swipe it. As easy as that.

Just a note: The above only work if you are with somebody like Xapo or Bit-X where your bitcoin wallet is directly linked to your card. The preloaded cards do not work like this and often its easier to just cash out than getting funds onto those cards.

I think very few people opt for such services, cashing out your investments to buy groceries could possibly the worst case scenario for investors man. The transaction fees is much more than debit/credit when using the btc debit card, I understand that because exchange rates are also calculated. Bitcoin could be a payment gatweway to pay for goods and services online but the logic of buying btc from fiat, then withdrawing btc just to treat it like fiat. WHAT'S DAH POINT?

I dont understand this ,what is the benefit of the ATM'sand debit cards when the point of bitcoins is an easy alternative transaction ...
why would people go back to cards again.

I was thinking to get a XAPO debit card but the fees are too high in my opinion. I will just wait until a better alternative with lower fees arrives.

Theses questions of limitation on posts should be ask on another topic thread such as begginers and help area.

But to answer your question there isnt a daily limit, but if we see it to very spam like, I hit the tab on the bottom right "report to moderator" and if the moderator deletes your posts more then 2 times, you`ll see a banned account in red.