Hi Bitcoiners,
Thanks for this feedback! I have started this as an ANN thread as requested. Access it here -
https://bitcointalk.org/index.php?topic=5288739.new#new Please head over there and keep your feedback coming!
But there are many constraints to such type of credit cards.
1. Yes sure, KYC is required by regulations and is a great way to prevent bad actors. Rest assured, with KYC we are not getting any info on your exchange accounts or wallet holdings.
2/3. User will be able to choose which crypto-currency they want to withdraw in, and they can decide whether to keep it on the app or withdraw to their private wallet.
Rather, try to bring in crypto debit card in India. It will save us from the hasle of converting money through exchange or p2p trading and transfer to our bank accounts. Think about it please!
Debit cards a great product for existing crypto holders, who want it to be easier to spend their crypto. While a debit card allows you to spend crypto, a credit card allows you to earn it. BitPe is designed to help people get off zero crypto. It gives you free crypto to get in the game. For exiting crypto holders, it a great way to earn more crypto and increase your holdings! Points raised by @amishmanish are true as well. Let me DM you for this!
If it launches, I for one will be buying one and will be ready to be a loyal customer. You will need a lot of promotion to get people onboard. I would also say that rather than starting huge and aiming the plebs, you should keep this as a niche product in the beginning...You could use referrals from people like us to onboard more users. Once you have a dedicated community, expansion would be a matter of marketing and promotion to the general public.
Many thanks for the warm reply @amishmanish. Let me DM you to discuss this further. Regarding your marketing strategy, I could not agree more. We plan to launch a waitlist very soon.
Thanks guys! Please head over to ANN thread for more. Wait for my DM!
Best,
Garvit