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Author Topic: Bit-X Debit MasterCard  (Read 1334 times)
JayCrypto
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May 21, 2015, 05:24:45 PM
 #21

Why someone have to choose it instead the wallet?

To pay in physical stores that accept credit/debit cards and not bitcoin.
But what is the benefit for costumer?
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mmsen
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May 21, 2015, 05:27:54 PM
 #22

Why someone have to choose it instead the wallet?

To pay in physical stores that accept credit/debit cards and not bitcoin.
But what is the benefit for costumer?

Convenience, as long as you are happy with the verification and the bank approval process.

The limits for basic verification are far too low for it to be of any use to me.
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May 21, 2015, 05:30:46 PM
 #23

Why someone have to choose it instead the wallet?

To pay in physical stores that accept credit/debit cards and not bitcoin.
But what is the benefit for costumer?

What is normally the benefit of using a debit card? Convenience and accessibility. The main benefit is being able to spend your bitcoins directly. You don't need to trade or cash them out as you can do it easily with your card from your exchange balance. It all boils down to whether you think the convenience of being able to do this is worth the high fees. For some it is and others it isn't.

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May 21, 2015, 05:55:16 PM
 #24

Why someone have to choose it instead the wallet?

To pay in physical stores that accept credit/debit cards and not bitcoin.
But what is the benefit for costumer?

What is normally the benefit of using a debit card? Convenience and accessibility. The main benefit is being able to spend your bitcoins directly. You don't need to trade or cash them out as you can do it easily with your card from your exchange balance. It all boils down to whether you think the convenience of being able to do this is worth the high fees. For some it is and others it isn't.

The fees are lower than Localbitcoins bitcoin to cash trades. Around 4% I've experienced.

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May 21, 2015, 06:30:08 PM
 #25

That's why I personally don't use exchanges. If I wanted to cash out I'd probably just sell locally or through a bank transfer or something on here. Always best to cut out the middle man and that's why I think we're in desperate need for decentralized exchanges.
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May 21, 2015, 06:34:19 PM
 #26

That's why I personally don't use exchanges. If I wanted to cash out I'd probably just sell locally or through a bank transfer or something on here. Always best to cut out the middle man and that's why I think we're in desperate need for decentralized exchanges.

For what reason? You just said "that's why" with no context.

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May 27, 2015, 08:21:17 AM
 #27

That's why I personally don't use exchanges. If I wanted to cash out I'd probably just sell locally or through a bank transfer or something on here. Always best to cut out the middle man and that's why I think we're in desperate need for decentralized exchanges.

For what reason? You just said "that's why" with no context.

Because a lot of people do not wish to have to go through the process of being 'verified' by another institution.

We have a decentralized currency, why would we want a centralized body telling us if and when we can make transfers ala Coinbase?

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May 27, 2015, 05:33:11 PM
 #28

That's why I personally don't use exchanges. If I wanted to cash out I'd probably just sell locally or through a bank transfer or something on here. Always best to cut out the middle man and that's why I think we're in desperate need for decentralized exchanges.

For what reason? You just said "that's why" with no context.

Because a lot of people do not wish to have to go through the process of being 'verified' by another institution.

We have a decentralized currency, why would we want a centralized body telling us if and when we can make transfers ala Coinbase?



To each their own opinion. All services (even if based on a decentralised currency), at this point in time, will require some sort of verification for higher limits (for the debit card).

You may still order a card with the basic limits with absolutely no verification, just a valid shipping address.

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May 29, 2015, 12:15:18 AM
 #29

That's why I personally don't use exchanges. If I wanted to cash out I'd probably just sell locally or through a bank transfer or something on here. Always best to cut out the middle man and that's why I think we're in desperate need for decentralized exchanges.

For what reason? You just said "that's why" with no context.

Because a lot of people do not wish to have to go through the process of being 'verified' by another institution.

We have a decentralized currency, why would we want a centralized body telling us if and when we can make transfers ala Coinbase?



To each their own opinion. All services (even if based on a decentralised currency), at this point in time, will require some sort of verification for higher limits (for the debit card).

You may still order a card with the basic limits with absolutely no verification, just a valid shipping address.
Is bit-x planning to add CAD currency deposits? I would get the card, but the currency conversion fee is killer... Sad
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