Bitcoin Forum

What are the pros and cons for Bitcoin Debit Cards? Im trying to make a information page, if you want to assist drop some useful information I should add.

If you're going to start a thread about Bitcoin Debit Cards, you'd have to start off by mentioning Xapo:

https://in.xapo.com/campaign/debit/

Unfortunately, they're not available for use in the U.S., or I'd already have one of these.

Pros - you have ability to pay pretty much everywhere with the funds not tied to your current bank account. Can be a lifesaver if something goes wrong with your bank account. Also your bank doesn't see your every purchase.

Cons - Fees. Trust, you have to deposit your bitcoins with the 3rd party.

Some pros are the ability to use it in any store as if it were a debit or visa card without anyone being the wiser
At the same time a con would be the fees to use these services and monthly charges

Cavirtex would be one example of that with visa and credit reloading

I don't think I'd want to place coins on a card like this. What would the benefit of this be instead of just converting the coins to fiat?

I don't think you would have to place your coins on the card. It's just another avenue to spend bitcoins. For instance you don't literally place fiat on your bank's debit card because it's connected to your bank account thereby giving you an additional way to access your bank account. What I am simply saying is, a Bitcoin Debit Card can be an additional and instant way to access your Bitcoin Wallet. :o

Depends on the card, but many cons are:

- Scam
- High Fees
- Not anonymous - required ID and docs
- Low withdrawal limits

never thought of that pro, ty.

That pretty much sums it up as of the 4 good reasons to give it a miss  :-[

Hopefully they work on these issue but not sure they can.

You have to put funds in there site to use the card. As far as I know, they have full control over it(no multisig)

The bank doesn't, but Xapo and the procesor (Visa, Mastercard) sees.


You need to trust in the merchant won't try to clone or steal your debit card data.

Believe Xapo incorporates Multisig on their Xapo Vault service, but not sure if it's in their Xapo Wallet/Debit Card service:

https://blog.xapo.com/xapo-launches-suite-of-new-security-features-announces-xapo-vault-now-free-of-charge/

are there any anon gift card style debit card reloadable online ones out there?

Well every exchange is needing ID and docs increasingly, and all these ATM require them as well.

the main use of a Bitcoin debit card is to convert Bitcoin to anonymous cash and withdraw local currency from ATM machine .. so you want to make sure the card is really anonymous with no ID or documentation requirements.

Sounds like a scam

There are cards which allows users to deposit and withdraw money without verification from and to the debit card. The limits is quite low however without verification. You would also need to load cash from exchanges, this is still a Bitcoin debit card indirectly.

You people are getting advantages, like anonymous card even the limit is too low.  But in India the authorities are blocked giving the debit card anonymous or with ID to the citizens of India.