Bitcoin Forum

Hello all,
I read the white papers of projects offering the cryptocurrencies card, such as TenX, TokenCard or Uquid.
Could anyone explain me how the conversion from cryptocurrency to fiat is made when the card holder pay the merchant?

Thanks in advance for your response

you hand bitcoin to the service.

the service privately sells the bitcoin for fiat on exchanges to refill its fiat reserves,

the fiat reserves the service have are used to topup/charge/load the debit cards

but all the customer see's is that they hand over bitcoin and get credited fiat on their card

Allright, do you know any company that provides this kind of service? What are the fees?
Thanks

There are some specialize company provide this service long time ago example: spectrocoin.com/en/account.html

If you are from the EU, you can check XAPO as well, they have a bitcoin debit card directly linked to your bitcoin wallet, so they do the exchange on the fly when you use your card, you don't need to top up your card every time. Their support is always overloaded, you can check about them in the bitcointalk forum as well, they have their own thread. https://bitcointalk.org/index.php?topic=902526.0 (https://bitcointalk.org/index.php?topic=902526.0)

Thanks all for the response, but let me make myself clear: i acknowledge the existence of those platforms that provide the exchange on the fly service through their card.
My question is: Is there any way to implement this myself, to be independant from those platforms?

Bitcoin is a digital assets with value. You either exchange it personally with someone for fiat, buy a product or service with bitcoins or trust a platform to send you cash for bitcoins (Cash directly to your bank account with some fees.).

My friend changes it to BTC and then puts it in coinbase and takes it out through there.

Thanks!
Can anyone describe me what is the workflow behind a fiat-cryptocurrency exchange?
From a legal point of view, my bank transfer money to the app (let's say TenX): how does TenX change my fiat into Crypto? Do they have a real bank account ?