Bitcoin Forum

Thinking of jumping in and starting a Bitcoin Business and wanted some feedback from everyone first.

The idea: Allow you to buy the items you want on the internet with your bitcoins.

How it works:

Using a specialized credit card you can exchange your bitcoins with us for the value of the item and then go purchase the item online using the special card instantly.

More details:

Total Costs: item price your buying + shipping cost (if there is shipping) + our fee of  $2.95 for the service just a guestimate.  Please let us know what it is worth to you to be able to get what you want anywhere so we can gauge our fee better -> then you send over in bitcoins and once received instantly be able to purchase the item online you wanted. We think this is a useful service because you can spend anywhere Visa/Mastercard is accepted with no waiting around for hours for redeem codes just enter in the details and pay the amount allocated to you. This is specially useful if you don't have a credit card or bank account for that matter.

Does this service sound like something the community would want/or need ?

I have it all ready to go basically just have to see if there is a need and iron out some last minute details  ;D . All this in time for the holiday shopping also.

There is also a 2nd part of this project but wanted to start with this first part.

Let me know your thoughts, feedback or questions! oh and also what type of items would people want to buy? From the questions and answers I'll build the sites FAQ.

Thanks for reading and Poll now added also.

Market demand for this will be greatly affected by the margin you charge to provide it.

If you cost 1% over what I'd pay with my normal credit card, I'll try to use your service every time. If you charge 10% over, I won't even consider it =)

Makes perfect sense just was trying to gauge it  ;D.

Is this a credit or debit card?

Credit card: lots of risk on both sides, amount I own is dependent on the exchange rate when you send bill. Your payment is dependent on exchange rate when you receive coins.
Debit card: risk depends on currency the card stores

This is a debit card. Basically, you send the bitcoins over for the balance you want on the card and we apply cash to the card for you use to use instantly at merchants who accept Visa/Mastercard. All this is converted towards the exchange rate on the fly.  We've figured out how to eliminate any risk with this. There will be an official thread shortly (today/tomorrow) regarding this. Thank you for the question!

Sounds great... but works this for europe ?

Yes, this will work in Europe.

So is it a virtual visa card ?

I mean you give me the card numbers etc, and I can charge them up with bitcoin. Each charge up $2.95 ?

If so, yes I'm in.

Hi,

Yes, you get your own card # and reload whenever you want for between $2.95-3.95 . What is great is there is no re-stocking or waiting to get new cards its all done instantly.

I'll be placing a new thread to a new post about the service shortly so check the original post ^^ above shortly.

Thanks.