Would You Use a Bitcoin Debit Card? - page 3.

Slunt

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Quote from: marcotheminer on April 10, 2015, 04:46:14 AM

Quote from: Jesu on April 10, 2015, 04:11:47 AM

Like other have said it would all depend on the fees. High fees kind of make it pointless really and not worth the fuss of it all.

Quote from: marcotheminer on April 09, 2015, 05:40:13 AM

Debit: Funds are taken from your wallet on the site offering the card. No need to fund it manually. Once you pay for something, BTC is exchanged instantly at the time of payment, not before or after (you won't lose money due to the volatile exchange rate).

Prepaid: Funds must be loaded by the user manually. Funds are converted once loaded so you may lose money due to the volatile exchange rate.

But with a debit version you have to keep your coins on a third party site and we all know that's a bad idea especially long term. If the site gets hacked or disappears then you can say buy to all your coins too.

That was a major issue a year or so ago, less now with the rise of licensed exchanges like https://Bit-X.com.

I don't think being licensed makes them immune from thefts or scamming users themselves (you can always have rogue employees too). Where is the exchange licensed?

TheGr33k

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I doht have enough bitcoin that will make having a devit card for it worth it. Ill loose all the money lol.

Oscilson

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The fee is the main issue here. When it is reduced to below visa or master, I will use it.

umairsaleem

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Quote from: Jesu on April 10, 2015, 04:11:47 AM

Like other have said it would all depend on the fees. High fees kind of make it pointless really and not worth the fuss of it all.

Quote from: marcotheminer on April 09, 2015, 05:40:13 AM

Debit: Funds are taken from your wallet on the site offering the card. No need to fund it manually. Once you pay for something, BTC is exchanged instantly at the time of payment, not before or after (you won't lose money due to the volatile exchange rate).

Prepaid: Funds must be loaded by the user manually. Funds are converted once loaded so you may lose money due to the volatile exchange rate.

But with a debit version you have to keep your coins on a third party site and we all know that's a bad idea especially long term. If the site gets hacked or disappears then you can say buy to all your coins too.

Since it called a "debit card", so you could fund the card with the coins when you need to use this card, There’s no need to keep fund in this third party site. Just fund it when you need.

marcotheminer

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┴puoʎǝq ʞool┴

Quote from: Jesu on April 10, 2015, 04:11:47 AM

Like other have said it would all depend on the fees. High fees kind of make it pointless really and not worth the fuss of it all.

Quote from: marcotheminer on April 09, 2015, 05:40:13 AM

Debit: Funds are taken from your wallet on the site offering the card. No need to fund it manually. Once you pay for something, BTC is exchanged instantly at the time of payment, not before or after (you won't lose money due to the volatile exchange rate).

Prepaid: Funds must be loaded by the user manually. Funds are converted once loaded so you may lose money due to the volatile exchange rate.

But with a debit version you have to keep your coins on a third party site and we all know that's a bad idea especially long term. If the site gets hacked or disappears then you can say buy to all your coins too.

That was a major issue a year or so ago, less now with the rise of licensed exchanges like https://Bit-X.com.

Jesu

full member

Activity: 166

Merit: 100

Like other have said it would all depend on the fees. High fees kind of make it pointless really and not worth the fuss of it all.

Quote from: marcotheminer on April 09, 2015, 05:40:13 AM

Debit: Funds are taken from your wallet on the site offering the card. No need to fund it manually. Once you pay for something, BTC is exchanged instantly at the time of payment, not before or after (you won't lose money due to the volatile exchange rate).

Prepaid: Funds must be loaded by the user manually. Funds are converted once loaded so you may lose money due to the volatile exchange rate.

But with a debit version you have to keep your coins on a third party site and we all know that's a bad idea especially long term. If the site gets hacked or disappears then you can say buy to all your coins too.

BitBOOM

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Possibly, especially if they were low or no fee.

muhrohmat

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we its a debit card some fees are aplied but in general i might use it just the fact its not to promoted i cant use it in my country

Daniel91

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It depends really about the cost of the card and its availability in my country.
Right now, we have just 1 BTC ATM in my country, and still very few merchants accept Bitcoin, so these are not sufficient reasons to get started with BTC card now.
If more merchants accept BTC in the future and we get more BTC ATM here, in this case I will be interesting to have my own Bitcoin Debit Card.

TYT

member

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I would actually love a bitcoin debit card but only if the fees were not excessive and sadly all I've seen are. I don't mind paying a small fee everytime I use it but I don't want all the extra costs of a monthly fee or re-activation fee when I don't use it for a month etc etc. It would be nice to have one as a back up to be able to spend my coins if and when needed but they're not really feasible for me how they operate currently.

OpenOcean

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Of course I would, if it makes my life easier.

majeis

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I'd prefer to use a cash deposit from an exchange to a bank account, then use the debit card linked to that account, but it's always nice to have an alternative in case that method isn't available for whatever reason like a secondary emergency backup or something along those lines.

nvK

sr. member

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Hi Guys,

Coinkite has a free option now, NO FEES!

More info here http://blog.coinkite.com/post/104987211551

yeponlyone

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bitcoin debit cards charges significantly higher fees than ordinary anonymous debit card. Sure, they may be convenient to use but it's a loss to pay such high fees.

Bitware

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weaving spiders come not here

No.

LuckyBtc

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Quote from: Alley on April 09, 2015, 10:13:05 AM

Not unless 0 fees and 1% discount like my visa.

0 fees that would be impossible, How will Bit-X make profit? I won't get myself any of those card due to high fees if they decrease there fees i would consider getting one.

Alley

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Not unless 0 fees and 1% discount like my visa.

Agestorzrxx

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The fee is a little high, if the fee can be low, I may consider it.
It's a cool thing to use a card.

R2D221

hero member

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Quote from: Amph on April 09, 2015, 08:42:41 AM

Quote from: R2D221 on April 09, 2015, 08:04:10 AM

The only real Bitcoin debit card is Coinkite. All of the others mentioned here are just fiat debit cards that happen to exchange from a Bitcoin account when used. You're still paying in dollars.

isn't this just an online wallet?

They also provide both a debit card and a POS terminal: https://coinkite.com/store/products/all

Please note that I've never used them. I don't know how trustworthy they are.

NeuroticFish

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Looking for campaign manager? Contact icopress!

I would right now, if I would have an amount of Bitcoin that matters - which I don't.
In my country the only good exchange FROM Bitcoin was shut down a few months ago.

I'll be honest, I didn't check what are the fees; if the fees are big indeed I would also look for alternatives.
But yeah, right now I don't need all this. I have to get bitcoin first.

Topic: Would You Use a Bitcoin Debit Card? - page 3. (Read 2431 times)