Topic: Would you buy a prepaid crypto card? - page 2. (Read 1343 times)
How about KYC/AML compliance? They are quite hard to comply with. And also, the problem with this is that many merchants won't accept a less known merchant service to use it in their store. You would probably be bombard with complains that the cards were stolen etc etc.
My biggest concern would be the private key.. How can the consumer be sure that you don't have a copy of the private key?
Well I could tell you how our systems work. We generate several random hashes, including your password. These are all used to encrypt all your private data. i.e. We don't store your password or use hot wallets, because it would ultimately lead to a data breach. But at the end it all depends on your trust with your card provider (because they will always require your keys to unlock the content) which all goes against everything Bitcoin stands for.
What do I need some plastic card for when I have a smartphone? This is 2015, not 1995.
Yes. I would. If it made sense to use one. Maybe if I was not wanting to not have to carry my phone and I wanted to exchange 100$ in btc. I could just buy the card and then use it as the form of payment for that transaction.
My biggest concern would be the private key.. How can the consumer be sure that you don't have a copy of the private key?
I guess as a customer you are not sure. You need to trust them, that they are indeed selling prepaid bitcoin cards with private key. I think if company goes as far as creating network of distribution, signing contracts with a resellers and so on, they won't try to scam potential customers that way.
It will be the end of them and their business if they would do something like that, nobody will risk company just to scam some btc.
My biggest concern would be the private key.. How can the consumer be sure that you don't have a copy of the private key?
For me it depends on whether the fees are less than a Bitcoin ATM charges. If the fees are more I would rather get cash from a Bitcoin ATM and spend that instead. It all depends who offers the cheapest service. It would be ideal if most shops accepted Bitcoin, but cards like that are a temporary compromise.
I think it would depend on the price... If i can buy cheaper BTC elsewhere, i will not buy a prepaid card, if this is the cheapest option for me, i would buy it...
It looks like a voucher not an actual bank card, which is an entirely good thing!
no the whole point of bitcoin(at least for me, i don't see it as an alternative, i want it to replace the fiat scam one day), is to remove the need of the instrument of its competitor, live visa and mastercard
i want to get rid of my credit card completely, one day and recieve everything in my bitcoin wallet, from which i can spend without worry about security code, pin, my name and other garbage like that
i want to get rid of my credit card completely, one day and recieve everything in my bitcoin wallet, from which i can spend without worry about security code, pin, my name and other garbage like that
https://i.imgur.com/6Tn3ubR.jpg?1
Startup BuyAnyCoin (BAC) plans to sell prepaid crypto cards next to prepaid
phone and debit cards in convenience stores. They're currently hoping
to raise US$10,000 for merchant outreach and continued backend development.
Would you buy such a card?
Startup BuyAnyCoin (BAC) plans to sell prepaid crypto cards next to prepaid
phone and debit cards in convenience stores. They're currently hoping
to raise US$10,000 for merchant outreach and continued backend development.
Would you buy such a card?
Jump to: