Experience of using crypto debit card?

[Sumarokov]

I was thinking of applying for a crypto debit card and had been looking into Bitwala card. My main aim is to avoid all the hassles with high-street banks.

Has anyone had experience of using a crypto debit card and any thoughts? I have a couple of questions.

1. Can you transfer from your own Blockchain wallet to the card? I have my Bitcoin mainly in my own Blockchain wallet, though also some in Kraken.

2. I was trying to think of some tax implications for the future. In theory, I have made gains on my Bitcoin as I bought quite a while ago and so ought to pay CGT. But no one would know if I just quietly ran down my Bitcoin and spent it as fiat. However, if some day I wanted to use the Bitcoin to buy something like property, then I would need to legalise it all, obviously... so how do I explain if I took out the odd £500 every month or so?

3. Can they only be used as a debit card to make purchases and ATM withdrawals? Or can any of them be used to do things like SEPA transfers? For example, I believe the Bitwala card gives you an IBAN.

[LeGaulois]

1.
Yes, of course.
Basically, you send bitcoins to your account and sell the BTC for EUR. Then use your card as you usually do. No problem to send BTC from your blockchain wallet to whatever service you'll use.

2.
It's a question your bank might ask you at the moment you receive the money  on your bank account (AML), not once you find a property to buy with the seller who asks you for it.

If a day you're audited by the tax office they might ask you where the €500 per month comes from. At this point, it's up to you to give the excuse you want. Say you were a gigolo for some years lol.
But keep in mind that if you decide to cheat the taxes office you need to think long term, like 10 years.

Now, what if your country decides to ask the citizens to report these accounts (as they do with a bank account abroad) including an account on an exchange platform. Similar to what my country is doing.
What if you don't do it and later your government contacts the company to get users' information? Similar to what the IRS did with Coinbase?

A lot to think about

3.
Bitwala provides a dedicated IBAN, so you can use it just like your regular bank account, not just using the card to purchase online and ATM.
On the other hand, not all services give you the IBAN so you can only use it with ATM and to purchase online.
By the way, Bitwala has also a non-custodial wallet

[Sumarokov]

Many thanks for the helpful advice.

When you mention you sell the BTC for EUR, do you mean that it is done automatically at the going rate at the time of the transaction?

In terms of tax, I always think it is best to just be honest. The problem I find is that crypto is so marginal to the mainstream that the banks and the tax authorities are not clear and people simply fear getting their assets frozen. I bought my crypto years ago by sending euros (I was living in the EU) to an exchange from a bank account that no longer exists, as one bank was bought up by another and there is no access to the data. I am just giving this as an example. I think that those of us who own Bitcoin are not otherwise wealthy people with shares and the like, things which are recognised by banks and tax accountants.

Thanks again for the advice. I would certainly only send a tiny amount each time from my wallet to my card.