Is this something we'll have to worry about with Bitcoin debit cards?

kevin08

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Quote from: European Central Bank on February 14, 2016, 11:26:42 AM

I'd say it certainly is. Question is who's gonna help you if this happens? Would it be Visa or Coinbase? We can assume Coinbase isn't going to insure you for this type of loss. I don't know if Visa can do much either.

Cryptsy as trying to push its own Bitcoin debit cards onto its customers before it closed. It said they were the lowest fee cards available. Who would help you if your Cryptsy card got skimmed immediately before it closed? Visa would probably pass the buck to Cryptsy, and Cryptsy support probably stopped responding to questions after the closure.

I would check who's responsible for paying back skimmed funds before signing up for a card, and also check how reliable the company providing the cards is.

amacar2

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Bitcoin credit card have no any difference other than it can be funded via bitcoin if compared to traditional cards. As those bitcoin cards works under visa or mastercard they are also susceptible to hack like normal cards.

Xsinx

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I always go were my card goes, even on a high class resto, this thing is being practice by the syndicate, bribing waiters and cashiers to do this.. so whenever i pay with Card. i go directly to the cashier and watch them swipe my card

European Central Bank

legendary

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I'd say it certainly is. Question is who's gonna help you if this happens? Would it be Visa or Coinbase? We can assume Coinbase isn't going to insure you for this type of loss. I don't know if Visa can do much either.

dollarneed

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in my humble opinion debit card is less dangerous than credit card, so many cases out there like stolen the card, carding etc, so far i just use the debit card if i really need it, to be honest i never used the bitcoin debit card before, i hear that it's fee is to high

zeaderza

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It's your job to take care of your card.
Like any card , a Bitcoin debit card have same problems with security.

SFR10

legendary

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Yes for sure since BTCitcoin debit cards generally operate the same (AFAIK) so no exception on this case. This is a main problem for countries that let ATM machines to be installed anywhere like in west countries and on my country, ATM machines are only installed beside the Bank itself so more security nevertheless criminals still manage to take successfully whats on the credit cards of others but less risky if used in safer places instead of using it anywhere you see one.

Chris!

legendary

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I'd have to say that this is why chips on credit/debit cards with a PIN are so important. Skimming could still possibly happen but the minimal security that it offers is more than the old-school magnetic strip. The problem is that even chip cards still have the magnetic strip for backwards compatibility.

I personally would never trust a bitcoin debit card with anything more than BTC0.01. It's riskier than a hot wallet IMO.

TastyChillySauce00

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usually people got stolen their credit card because they just use it anywhere without awareness, it's really dangerous

commandrix

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Bitcoin debit cards always seemed like a step backwards to me, especially since most of them seem to just sit on top of existing plastic card carriers like Visa. But somebody on my Facebook friends list says their credit card was recently "skimmed" to the tune of $2,000 and it occurred to me that this might be something to at least think about. So before you swipe that Bitcoin debit card, it might help to learn something about how to spot and avoid credit card skimmers.

Topic: Is this something we'll have to worry about with Bitcoin debit cards? (Read 556 times)