How to LEGALLY withdraw bitcoin to Credit card?

Dudeperfect

hero member

Activity: 1190

Merit: 534

I was in same situation few days ago but fortunately I think I got a solution and I am about to try these soon. In fact I have got two solutions which I would like to share.

1) Entropay – You can create virtual credit card on entropay and link that with cex.io and top up that with bitcoin. (That’s what cex . io staff told me few hours ago).

2) Freecharge – They also provide virtual credit card and one can top up this with debit card or net banking or even through bitcoins (using localbicoins) but this option is suitable for those who are in India.

Hope that helps.

ClownSpider

hero member

Activity: 570

Merit: 504

I am still searching for a solution.
Currently I am using https://www.e-coin.io
Unfortunately they have a limit of $499 USD or 499 EUR per day conversion from BTC to USD or EUR, and a $2500 USD per month and 2500 EUR per month limit.

I need a 2000 daily limit.

illyiller

hero member

Activity: 697

Merit: 520

There used to be exchanges that would cash you out as a credit card refund. I believe this has come to an end.

The easiest solution is to get a Bitcoin debit card. That way, you can easily load it with bitcoin and use it like any credit card. You could also use Bitcoin on Gyft or other services to buy gift cards at stores where you spend money. A third option is to trade P2P for prepaid card funds -- but that carries some risks (only deal with very reputable people).

Superways

hero member

Activity: 826

Merit: 502

I think you should have to go to any exchange (i.e cex.io, for me it is best for bank card withdrawal) and there convert your bitcoins to fiat and then withdraw that fiat to your card and so with that you will be able to use your bitcoin via your credit card to shop online.

Gahs

sr. member

Activity: 294

Merit: 250

Minter

Quote from: CEX on July 29, 2016, 03:52:55 AM

If you take a glance at the payment options table, then you'll see that deposits using payment cards are not restricted using cards issued in the USA, however, CEX.IO is not permitted to provide services in certain US states. As stated on our index page, we operate in about 24 states of the USA.
Withdrawals to US payment cards are, unfortunately, currently not available. But we are negotiating with reliable payment providers to enable withdrawals to US payment cards as well.

You will do well to list out clearly, the 24 states you are allowed to operate in. So a user will not go through the hassle of getting verified only to hear that you do not operate in his state.

mjosephs

full member

Activity: 129

Merit: 100

Quote from: CEX on July 29, 2016, 03:52:55 AM

Quote from: mjosephs on July 29, 2016, 01:14:15 AM

Quote from: CEX on July 28, 2016, 05:08:57 AM

Withdrawals to cards are disabled for those cards that are issued by banks of the restricted countries, the list of which you can find on the payment options page.
Let us know if you have any other questions.

However there are many other companies that will do withdrawal-as-card-credit for US cards; unfortunately they either have much more obnoxious limitations than CEX.IO, or much more vague and ill-defined policies on demanding identity documents, or haven't been around long enough to trust.

Can you elaborate on why you decided to exclude US-bank-issued cards?

Thanks,

If you take a glance at the payment options table, then you'll see that deposits using payment cards are not restricted using cards issued in the USA,

I am not asking about deposits. I am asking about withdrawals.

Quote from: CEX on July 29, 2016, 03:52:55 AM

however, CEX.IO is not permitted to provide services in certain US states. As stated on our index page, we operate in about 24 states of the USA.

This is very confusing; your withdrawal page says that all of the USA is restricted. There is no mention of specific states.

Could you please fix your policy pages? This sort of thing is very important for customers to be completely 100% clear on. Right now it is very vague and contradictory.

outatime1

sr. member

Activity: 364

Merit: 254

CryptoTalk.Org - Get Paid for every Post!

If you transfer bitcoin to a credit card, do you have to pay income taxes on it in America? Is this considered cashing it out and therefore taking profit for tax purposes?

CEX

legendary

Activity: 1227

Merit: 1003

Quote from: mjosephs on July 29, 2016, 01:14:15 AM

Quote from: CEX on July 28, 2016, 05:08:57 AM

However, you still need to link your card to the profile by submitting card information and uploading photos that prove ownership of this card.

Wow, that is an excellent compromise that I haven't encountered before. You might consider mentioning this card photo process on your website; it would make customers less worried that their funds could get held hostage in ransom for much more dangerous data (like passport scans).

Quote from: CEX on July 28, 2016, 05:08:57 AM

Withdrawals to cards are disabled for those cards that are issued by banks of the restricted countries, the list of which you can find on the payment options page.
Let us know if you have any other questions.

I'm very sorry to hear that; specifically that the US is on the list. I know the banking rules in the US are, well, insane, to put it bluntly.

However there are many other companies that will do withdrawal-as-card-credit for US cards; unfortunately they either have much more obnoxious limitations than CEX.IO, or much more vague and ill-defined policies on demanding identity documents, or haven't been around long enough to trust.

Can you elaborate on why you decided to exclude US-bank-issued cards?

Thanks,

If you take a glance at the payment options table, then you'll see that deposits using payment cards are not restricted using cards issued in the USA, however, CEX.IO is not permitted to provide services in certain US states. As stated on our index page, we operate in about 24 states of the USA.
Withdrawals to US payment cards are, unfortunately, currently not available. But we are negotiating with reliable payment providers to enable withdrawals to US payment cards as well.

BTcoint

hero member

Activity: 553

Merit: 500

i am using spectrocoin.com ,why no one mention this services ?
fast and reliable give them a try

mjosephs

full member

Activity: 129

Merit: 100

Quote from: CEX on July 28, 2016, 05:08:57 AM

However, you still need to link your card to the profile by submitting card information and uploading photos that prove ownership of this card.

Wow, that is an excellent compromise that I haven't encountered before. You might consider mentioning this card photo process on your website; it would make customers less worried that their funds could get held hostage in ransom for much more dangerous data (like passport scans).

Quote from: CEX on July 28, 2016, 05:08:57 AM

Withdrawals to cards are disabled for those cards that are issued by banks of the restricted countries, the list of which you can find on the payment options page.
Let us know if you have any other questions.

I'm very sorry to hear that; specifically that the US is on the list. I know the banking rules in the US are, well, insane, to put it bluntly.

However there are many other companies that will do withdrawal-as-card-credit for US cards; unfortunately they either have much more obnoxious limitations than CEX.IO, or much more vague and ill-defined policies on demanding identity documents, or haven't been around long enough to trust.

Can you elaborate on why you decided to exclude US-bank-issued cards?

Thanks,

CEX

legendary

Activity: 1227

Merit: 1003

Quote from: mjosephs on July 28, 2016, 12:12:59 AM

Quote from: CEX on June 06, 2016, 03:32:11 AM

Withdrawals

USD: 3.80 USD for Visa. 1.2% + 3.80 USD for MasterCard
EUR: 3.50 EUR for Visa. 1.2% + 3.80 EUR for MasterCard
RUB: 2.5% + 30.00 RUB for Visa, MasterCard

Hi, do you require identity verification in order to WITHDRAW to a Mastercard?

I'm only asking about withdrawals (i.e. sell BTC, merchant credit to the card). I know that deposits are different because you're exposed to greater risks there.

Frankly, I've had my identity stolen enough times already (usually because of careless landlords) that I'm just not risking it anymore. My bank checked my identity already, anyone that won't take their word for it doesn't get my business.

Also what does "Countries restricted for payments" mean? That's very confusing wording. What exactly does this mean? And is the "country" the physical location of the card at the time of the withdrawal? How do you know where it is at the time of withdrawal?

Good day. You do not need to complete identity verification to withdraw funds to your card, if the withdrawal amount is less than $400 per day or $2,000 per month. However, you still need to link your card to the profile by submitting card information and uploading photos that prove ownership of this card. CEX.IO possesses a PCI DSS certificate that ensures safety of payment card information, which is strongly encrypted.

Withdrawals to cards are disabled for those cards that are issued by banks of the restricted countries, the list of which you can find on the payment options page.

Let us know if you have any other questions.

mjosephs

full member

Activity: 129

Merit: 100

Quote from: CEX on June 06, 2016, 03:32:11 AM

Withdrawals

USD: 3.80 USD for Visa. 1.2% + 3.80 USD for MasterCard
EUR: 3.50 EUR for Visa. 1.2% + 3.80 EUR for MasterCard
RUB: 2.5% + 30.00 RUB for Visa, MasterCard

Hi, do you require identity verification in order to WITHDRAW to a Mastercard?

I'm only asking about withdrawals (i.e. sell BTC, merchant credit to the card). I know that deposits are different because you're exposed to greater risks there.

Frankly, I've had my identity stolen enough times already (usually because of careless landlords) that I'm just not risking it anymore. My bank checked my identity already, anyone that won't take their word for it doesn't get my business.

Also what does "Countries restricted for payments" mean? That's very confusing wording. What exactly does this mean? And is the "country" the physical location of the card at the time of the withdrawal? How do you know where it is at the time of withdrawal?

CEX

legendary

Activity: 1227

Merit: 1003

Quote from: redsun114 on June 03, 2016, 01:29:31 PM

Quote from: CEX on June 03, 2016, 06:48:15 AM

We at CEX.IO are thrilled to announce that fees for deposits and withdrawals using payment cards have been significantly lowered.

Deposits

USD: 3.5% + 0.25 USD for Visa, MasterCard
EUR: 3.5% + 0.20 EUR for Visa, MasterCard
RUB: 5.25% + 15.57 RUB for Visa, MasterCard

Withdrawals

USD: 3.80 USD for Visa. 1.2% + 3.80 USD for MasterCard
EUR: 3.50 EUR for Visa. 1.2% + 3.80 EUR for MasterCard
RUB: 2.5% + 30.00 RUB for Visa, MasterCard

Remember that you can use both debit and credit cards by Visa or MasterCard in absolutely any currency.

Just confirming, the 3.80 USD/EUR are the minimum withdrawals, right? and the 1.2% are the feels.
These are actually really good rate changes and I might start using Cex anytime soon.

Good day!

3.80 USD/EUR is the fee for withdrawals to Visa cards.
1.2% + 3.80 USD/EUR is the fee for withdrawals to MasterCard cards.

Minimum withdrawal amount is 20 USD/EUR for withdrawals to both Visa or MasterCard.

Let us know if you have any other questions.

redsun114

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Activity: 2730

Merit: 585

Leading Crypto Sports Betting & Casino Platform

Quote from: CEX on June 03, 2016, 06:48:15 AM

We at CEX.IO are thrilled to announce that fees for deposits and withdrawals using payment cards have been significantly lowered.

Deposits

USD: 3.5% + 0.25 USD for Visa, MasterCard
EUR: 3.5% + 0.20 EUR for Visa, MasterCard
RUB: 5.25% + 15.57 RUB for Visa, MasterCard

Withdrawals

USD: 3.80 USD for Visa. 1.2% + 3.80 USD for MasterCard
EUR: 3.50 EUR for Visa. 1.2% + 3.80 EUR for MasterCard
RUB: 2.5% + 30.00 RUB for Visa, MasterCard

Remember that you can use both debit and credit cards by Visa or MasterCard in absolutely any currency.

Just confirming, the 3.80 USD/EUR are the minimum withdrawals, right? and the 1.2% are the feels.
These are actually really good rate changes and I might start using Cex anytime soon.

alyssa85

legendary

Activity: 1652

Merit: 1088

CryptoTalk.Org - Get Paid for every Post!

One option is to open an account with either Xapo or Coinbase as both issue pre-paid cards, so you can transfer your coin to the cards and spend.

CEX

legendary

Activity: 1227

Merit: 1003

We at CEX.IO are thrilled to announce that fees for deposits and withdrawals using payment cards have been significantly lowered.

Deposits

USD: 3.5% + 0.25 USD for Visa, MasterCard
EUR: 3.5% + 0.20 EUR for Visa, MasterCard
RUB: 5.25% + 15.57 RUB for Visa, MasterCard

Withdrawals

USD: 3.80 USD for Visa. 1.2% + 3.80 USD for MasterCard
EUR: 3.50 EUR for Visa. 1.2% + 3.80 EUR for MasterCard
RUB: 2.5% + 30.00 RUB for Visa, MasterCard

Remember that you can use both debit and credit cards by Visa or MasterCard in absolutely any currency.

hesapadim

newbie

Activity: 22

Merit: 0

You can use this:
Ref: http://wallet.advcash.com/referral/97536ae6-d26c-4104-b06b-ccb9febe5b12
Non-ref: http://advcash.com/

Buy VCC or Physical Debit Card and top up with Bitcoin and some other payment methods

ravens

member

Activity: 98

Merit: 10

There are bitcoin debit cards such as spectrocoin. But if you are looking for something that can withdraw to the fiat credit card that you have on hand. You'd have better luck going for the bitcoin debit cards that have vouches around here.

mobnepal

legendary

Activity: 1218

Merit: 1006

I have already purchased several items including hosting, domain names, vps online via bitcoin debit card. There are lots of them out there some of the names i have used are cryptopay, spectrocoin, conizy etc. But there are also more out there like bit-x, ecoin, wired etc but i haven't tested them. DO your own research and understand fee and exchange terms of each of them before jumping into.

BitcoinSupremo

copper member

Activity: 1442

Merit: 529

Even if you don't have a US bank account who cares. First you use an exchanger, payexchanger.com is the one I am using a lot.
If you have skrill, you can exchange your bitcoin to skrill there, and then withdraw to your card connected to it.

Same can be done via Paypal. Also there are a lot of exchangers here who will exchange for different payment processors in Currency Exchange section of this forum.

Only thing required from you is to have linked your credit/debit card to any payment processor, like Paypal, Skrill.

Topic: How to LEGALLY withdraw bitcoin to Credit card? (Read 4579 times)