[ANN] Bitcoin Debit Card | BIT-X.com | Anonymous or Named | Low Fees!

[thebitcoinquiz.com]

5% for instant cash is fine. But what about the 0.005BTC fee for every POS? Wouldn't it be better if you start charging it in percent? Its like if I want to buy a book online (which costs me $2), ill have to pay 0.005 BTC(1$) as a fee to Bit-x, do you even know that its like 50% ? Your strategies are a clear reflection that bit-x is not targeting normal users as a customer for its MasterCard.
And I don't like your definition of "inactive", 5 times a month???!!! Do you want my grocery store to start accepting master card? Or do you want me to use my master card for buying a chewing gum or a bottle of Pepsi? That will never be possible. A normal user will each month have to pay 0.05BTC/month for being inactive and even if he wants to be active according to your definition, he'll have to use the card 5 times, making him to spend at least 0.025BTC(incase of POS and higher if he wants cash out the money). Bit-x should be more concerned about reaching to a normal bitcoin user base and not using their card as a means of creating a get-rich-quick scheme for themselves(you wont succeed). The fee needs a lot lot of alteration. You cannot expect people to just hand over bit-x their money just in the form of fee.

Most shops already do accept MasterCard™ as a payment method. Most people already know that credit/debit cards aren't meant for small purchases due to their fees not making small purchases worthwhile (they can still be used for this purpose nonetheless). 5 transactions a month is easily attainable (the odd ATM withdrawal and POS transactions in store). 0.025BTC for those 5 transactions is currently $6, not a huge amount to the average Bitcoin user and this value can be less than 1% of your total if you transact over $600 which is, again, not a huge amount.

Fees are costs to a business (bank fees, MasterCard™ fees, actual Bit-X running cost fees), they aren't part of a 'get-rich-quick' scheme for any business. A service costs money to run and users must be prepared to pay those fees to use the service they're interested in.

$600 is in total what I spend on myself in ONE WHOLE month. This including my schooling fee, eatables , internet, everything and everything. And its not possible to spend  600$/month using master card , so it wont be profitable for a normal user like me, I.e it wont cost me less than 1% ever. 600$/month may be a small amount for you(and in developed nations) but in a country like India, 600$ is like a lot, and people spend way less than this amount on each person in most of the countries.
MasterCard can be very well used for making small purchases as well if you convert the fee into percentage. Its your misconception that people will be happy to pay 6$/month(at least) for just almost no reasons. The card is only to very less extent useful in developed nations, and 6$ is a handsome fee that you gonna charge.
If you do not consider changing the fee then consider changing the marketing strategy and stop selling the card to developing nations and only sell it in the developed nations cause the card wont be welcomed by a normal user.
Bit-x really needs to focus on making the card available and use full to a "normal" bitcoin users, you need to get your concepts clear about a normal bitcoin user and being "active"(P.S : 5 times a month is hyperactive).

Also, the atm fee is totally justified. But show some mercy for the POS people.

[Muhammed Zakir]

5% for instant cash is fine. But what about the 0.005BTC fee for every POS? Wouldn't it be better if you start charging it in percent? Its like if I want to buy a book online (which costs me $2), ill have to pay 0.005 BTC(1$) as a fee to Bit-x, do you even know that its like 50% ? Your strategies are a clear reflection that bit-x is not targeting normal users as a customer for its MasterCard.
And I don't like your definition of "inactive", 5 times a month???!!! Do you want my grocery store to start accepting master card? Or do you want me to use my master card for buying a chewing gum or a bottle of Pepsi? That will never be possible. A normal user will each month have to pay 0.05BTC/month for being inactive and even if he wants to be active according to your definition, he'll have to use the card 5 times, making him to spend at least 0.025BTC(incase of POS and higher if he wants cash out the money). Bit-x should be more concerned about reaching to a normal bitcoin user base and not using their card as a means of creating a get-rich-quick scheme for themselves(you wont succeed). The fee needs a lot lot of alteration. You cannot expect people to just hand over bit-x their money just in the form of fee.

Most shops already do accept MasterCard™ as a payment method. Most people already know that credit/debit cards aren't meant for small purchases due to their fees not making small purchases worthwhile (they can still be used for this purpose nonetheless). 5 transactions a month is easily attainable (the odd ATM withdrawal and POS transactions in store). 0.025BTC for those 5 transactions is currently $6, not a huge amount to the average Bitcoin user and this value can be less than 1% of your total if you transact over $600 which is, again, not a huge amount.

Fees are costs to a business (bank fees, MasterCard™ fees, actual Bit-X running cost fees), they aren't part of a 'get-rich-quick' scheme for any business. A service costs money to run and users must be prepared to pay those fees to use the service they're interested in.

$600 is in total what I spend on myself in ONE WHOLE month. This including my schooling fee, eatables , internet, everything and everything. And its not possible to spend  600$/month using master card , so it wont be profitable for a normal user like me, I.e it wont cost me less than 1% ever. 600$/month may be a small amount for you(and in developed nations) but in a country like India, 600$ is like a lot, and people spend way less than this amount on each person in most of the countries.
MasterCard can be very well used for making small purchases as well if you convert the fee into percentage. Its your misconception that people will be happy to pay 6$/month(at least) for just almost no reasons. The card is only to very less extent useful in developed nations, and 6$ is a handsome fee that you gonna charge.
If you do not consider changing the fee then consider changing the marketing strategy and stop selling the card to developing nations and only sell it in the developed nations cause the card wont be welcomed by a normal user.
Bit-x really needs to focus on making the card available and use full to a "normal" bitcoin users, you need to get your concepts clear about a normal bitcoin user and being "active"(P.S : 5 times a month is hyperactive).

I agree with you in this.

From above example,

$500 = ₹31721.23
$15 = ₹951.64
0.1BTC = ₹1506.92

The fees in this example is high. Can you make custom fee for developing countries like India? I don't think you will do this but I recommend to decrease the general fees to ensure fairness.

[alani123]

Is there a fee for unlinking the card from the account or deactivating the card entirely? I'm not thinking of doing this yet, just wondering.

I'll get back to you on that.

So?

[marcotheminer]

Sorry! Slight miscalculation. Thank you!

I forgot about USD to other currency conversion fee. Can you tell me what's the fee? Current fee in percentage for USD ATM withdrawal isn't bad. If USD to INR conversion fee isn't high, then it will be good.

There is no exchange fee, Bit-X uses internal exchange rates I believe now (all fees can be found here: https://bit-x.com/guide/bitx-cards).

BIT-X will be USD/EUR/GBP denominated card and I will be withdrawing INR. Are you telling me there is no currency conversion fee? I checked the page but there is no mention about currency conversion fee.

Bit-X does not charge a conversion fee. MasterCard™ takes care of currency conversions, if any.

[marcotheminer]

Is there a fee for unlinking the card from the account or deactivating the card entirely? I'm not thinking of doing this yet, just wondering.

Cards cannot be unlinked at this moment in time. I'll keep you updated if anything changes.

[marcotheminer]

Used my card again recently, all going smoothly.

[thebitcoinquiz.com]

Used my card again recently, all going smoothly.

Hey, as the fee is already high and the company doesn't wanna cooperate and make it low. So can you just try to get your card documented properly? Like provide som e details on "how" can the card be used? And some video tutorials for the usage of cards( informing people from loading money to the card using bitcoin and to using it to purchase an item online). It would be really nice if you could do that.

[marcotheminer]

Used my card again recently, all going smoothly.

Hey, as the fee is already high and the company doesn't wanna cooperate and make it low. So can you just try to get your card documented properly? Like provide som e details on "how" can the card be used? And some video tutorials for the usage of cards( informing people from loading money to the card using bitcoin and to using it to purchase an item online). It would be really nice if you could do that.

Sure, I'll see if I can get some videos put together.

Until then I can explain simply.

How to load the card? Just have a balance in your Bit-X account. Funds are converted when you a transaction, there is no need to pre-load it like a prepaid card.

How to use the card? Just like any debit/credit card. Either you input your details online at a site's checkout or you swipe your card at an ATM/POS terminal.

[Stifler]

Can we get our names embossed on the cards or is it not possible? I'd love one with my own name on it.

[thebitcoinquiz.com]

Can we get our names embossed on the cards or is it not possible? I'd love one with my own name on it.

Yes. You can get your name embossed on the card, but there is an extra 0.1BTC fee for doing that.
Just talk to Marco for getting your job done, he'll help you out throughout the process.

[Muhammed Zakir]

Did BIT-X lower ATM withdrawal fee to 0.01BTC?

Used the BIT-X Bitcoin Debit MasterCard to withdraw $160 from the local ATM. These are the charges:

Fiat from ATM: BTC0.701
BIT-X COMMISSION: BTC0.01
Master Card Commission: BTC0.02103
Total: BTC0.73203

Overall, quite satisfied with the services. Will definitely use again. 

Isn't BIT-X ATM commission 0.02BTC? Did they lower ATM withdrawal fee?

BTW, don't forget monthly inactive fee.

Not sure about that. This is the transaction summary which is coming in my profile page. Yeah.... the monthly inactive fee (0.6 Bitcoin per year) is a big headache. But I am going to use this card for at least a few months. Can't trust Localbitcoins after all the recent scandals. I need a second option to convert my coins to fiat.

[letyouearn]

Can I use bit-x Debit card to link it on Paypal, so that I can send payments to anyone. ?

[marcotheminer]

Can I use bit-x Debit card to link it on Paypal, so that I can send payments to anyone. ?

You sure can!

[marcotheminer]

Can we get our names embossed on the cards or is it not possible? I'd love one with my own name on it.

Yes you may. To order a card just visit your balance page: https://bit-x.com/account/balance. Once you click on "Order Card" you'll be able to select the "Name embossing on card" option.

[marcotheminer]

Did BIT-X lower ATM withdrawal fee to 0.01BTC?

Used the BIT-X Bitcoin Debit MasterCard to withdraw $160 from the local ATM. These are the charges:

Fiat from ATM: BTC0.701
BIT-X COMMISSION: BTC0.01
Master Card Commission: BTC0.02103
Total: BTC0.73203

Overall, quite satisfied with the services. Will definitely use again. 

Isn't BIT-X ATM commission 0.02BTC? Did they lower ATM withdrawal fee?

BTW, don't forget monthly inactive fee.

Not sure about that. This is the transaction summary which is coming in my profile page. Yeah.... the monthly inactive fee (0.6 Bitcoin per year) is a big headache. But I am going to use this card for at least a few months. Can't trust Localbitcoins after all the recent scandals. I need a second option to convert my coins to fiat.

Since the card is still in the 'relatively new' stage, fees may vary (if they vary they will be lower than the stated fee!).

Stated fees may drop soon too.

[gkv9]

Since the card is still in the 'relatively new' stage, fees may vary (if they vary they will be lower than the stated fee!).

Stated fees may drop soon too.

That's some nice news to hear...
I received mine too, yet to activate...
Is there any time limit on till when are we allowed to activate the card after receiving it???

[marcotheminer]

Since the card is still in the 'relatively new' stage, fees may vary (if they vary they will be lower than the stated fee!).

Stated fees may drop soon too.

That's some nice news to hear...
I received mine too, yet to activate...
Is there any time limit on till when are we allowed to activate the card after receiving it???

Cards can be activated whenever.

[marcotheminer]

Used my card again a few days ago, working flawlessly!

[irfan_pak10]

Few days ago I ordered the Card, But you Deducted the fees why?

Sent, 2015/05/22 16:12


COMMISSION FOR CARD ISSUANCE        2015/05/22 19:48   BTC   - 0.05000000    Commission for card delivery

As im your campaign member, and you are supposed to send me free.

[thebitcoinquiz.com]

Few days ago I ordered the Card, But you Deducted the fees why?

Sent, 2015/05/22 16:12


COMMISSION FOR CARD ISSUANCE        2015/05/22 19:48   BTC   - 0.05000000    Commission for card delivery

As im your campaign member, and you are supposed to send me free.

The cards were sent for free (you got them for free as I did), but Marco had earlier also said that you will still have to pay 0.05BTC as the "issuance fee" of the card.