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Author Topic: How many people are using Bitcoin debit card?  (Read 10264 times)
Amph
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August 27, 2015, 02:21:42 PM
 #101

I have a btc debit card but haven't used because the price are so high...

why you bought it then? you should investigate before buying anything in this world

i find those cards pretty useless, bitcoin work with low fee, and those cards increase it, no sense..
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August 27, 2015, 02:29:44 PM
 #102

still very small, probably about 15% of the world's population i think
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August 27, 2015, 02:45:55 PM
 #103

A mate in Taiwan says the locals have a debit card they can load btc onto. He sees it getting used quite a bit at 7-11's and the like.


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RustyNomad
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August 27, 2015, 02:49:20 PM
 #104

Coinjar has also released a bitcoin debit card, although i belive its only availble for Australian customers.
I've had mine for a few months now and it comes in handy.
It does have a $2 AUD fee when used at any ATM which is a bit anoying but i guess you pay for the convenience.

Could you explain the whole functioning and procedure of the bitcoin debit card? I find it very hard to understand how it comes handly unless you're using it for trading/exchange with someone who accepts bitcoins and to what I know the whole bitcoin system is not very out other/popular in the world. Seems impractical to me.

Do you have bank or debit card?

If so do you use it? If you do then you already understand the convenience of a debit card.

I do not understand why people cannot see the use of a bitcoin debit card.

Think of it this way. If you receive bitcoins you can use it to to buy things online or at a retail outlet where bitcoin is accepted. If not then you are forced to use your normal bank card and or fiat money.

You can off course also send your bitcoin to an exchange, sell it and then withdraw the money you received from the sale to your bank account and then withdraw that money and or use your bank card. This whole process has several fees attached to it. First you pay a fee to send your bitcoin to the exchange, then you pay commission on the sale of your bitcoin, you then pay a fee to have the money sent to your bank and again when you withdraw the funds from your bank.

Instead of going through all of the above you can just send your bitcoin to say either Xapo and or Bit-x and thats it. You pay one fee. You then just use your card to buy whatever you want wherever you want, whether they accept bitcoin or not does not matter. No need to sell or convert your bitcoin, you just swipe your card.

And yes, there are fees but they are not as high as everybody makes them out to be. The whole process of converting your bitcoin to fiat is just as expensive and it takes days. With a debit card linked to your wallet you can start swiping the moment the funds are confirmed.

So the choice really is whether you only want to use your bitcoin at places that accept bitcoin and or whether you want to use your bitcoin whenever you want to. With a debit card you can and its much more convenient than going through the whole exchange thing.

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August 27, 2015, 07:18:41 PM
 #105

Since my country still under develop so many of them still not interest on bitcoin. So it means if they not know bitcoin , they will know bitcoin debit card neither. But honestly I don't like bitcoin debit card since we can transfer everywhere and everytime with single device.

.......

Just a note: The above only work if you are with somebody like Xapo or Bit-X where your bitcoin wallet is directly linked to your card. The preloaded cards do not work like this and often its easier to just cash out than getting funds onto those cards.


So only  Xapo or Bit-X that implement with debit card ?

No there are others who also offer debit cards but they work on a pre-load basis. This means that you have to send bitcoin to them and they then sell it to convert it to say US$ which they then load onto the card. So the debit card actually works like a prepaid card. There are also fees involved for this loading of the card which makes it more expensive.

With Bit-x and Xapo you do not need to send bitcoins to anyone. The debit cards they have are directly linked to your wallet. So each time you make a purchase on the card the value of that transaction is taken directly off your wallet. So no need to first convert the bitcoin to fiat, it all happens in the background when you make a transaction.

Well it is like the first case then it's better to sell to people or in exchange.
The second case is pretty good and like this should be pay with your bitcoin directly.

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winspiral
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August 28, 2015, 04:44:12 PM
 #106

I have a little over looked...
The fees are higher than my amount in bitcoin...

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HarHarHar9965
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August 28, 2015, 04:46:42 PM
 #107

Coinjar has also released a bitcoin debit card, although i belive its only availble for Australian customers.
I've had mine for a few months now and it comes in handy.
It does have a $2 AUD fee when used at any ATM which is a bit anoying but i guess you pay for the convenience.

Could you explain the whole functioning and procedure of the bitcoin debit card? I find it very hard to understand how it comes handly unless you're using it for trading/exchange with someone who accepts bitcoins and to what I know the whole bitcoin system is not very out other/popular in the world. Seems impractical to me.

Do you have bank or debit card?

If so do you use it? If you do then you already understand the convenience of a debit card.

I do not understand why people cannot see the use of a bitcoin debit card.

Think of it this way. If you receive bitcoins you can use it to to buy things online or at a retail outlet where bitcoin is accepted. If not then you are forced to use your normal bank card and or fiat money.

You can off course also send your bitcoin to an exchange, sell it and then withdraw the money you received from the sale to your bank account and then withdraw that money and or use your bank card. This whole process has several fees attached to it. First you pay a fee to send your bitcoin to the exchange, then you pay commission on the sale of your bitcoin, you then pay a fee to have the money sent to your bank and again when you withdraw the funds from your bank.

Instead of going through all of the above you can just send your bitcoin to say either Xapo and or Bit-x and thats it. You pay one fee. You then just use your card to buy whatever you want wherever you want, whether they accept bitcoin or not does not matter. No need to sell or convert your bitcoin, you just swipe your card.

And yes, there are fees but they are not as high as everybody makes them out to be. The whole process of converting your bitcoin to fiat is just as expensive and it takes days. With a debit card linked to your wallet you can start swiping the moment the funds are confirmed.

So the choice really is whether you only want to use your bitcoin at places that accept bitcoin and or whether you want to use your bitcoin whenever you want to. With a debit card you can and its much more convenient than going through the whole exchange thing.



I think miracal meant it sarcastically. Dude, why would I pay something/buy something from a bitcoin debit card, cashing out my btc + paying transaction fees/conversaion-exchange whatever fees along with my order? If I pay from bitcoin debit card, I would be in a way cashing out my bitcoins rather than using them properly. Nah, would rather pay that with bank's debit card or fiat.
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August 28, 2015, 08:08:03 PM
 #108

I have a little over looked...
The fees are higher than my amount in bitcoin...

Then this is not for you. I see that at least the min. to start using the cash in debit card is that we should spend in fee 0.1
Then the fee when withdrawing money or/and purchasing in pos fees too.
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August 29, 2015, 01:51:41 AM
 #109

I don't have one myself, well at least don't have anything in it. But I do know people who use it, it is pretty nice. Fees are not low though. I still prefer regular, btc is just my hobby.

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August 29, 2015, 02:26:51 AM
 #110

my cousin uses the xapo card. i dont think he likes it very much though.
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August 29, 2015, 04:40:15 AM
 #111

I don't have one myself, well at least don't have anything in it. But I do know people who use it, it is pretty nice. Fees are not low though. I still prefer regular, btc is just my hobby.

I also don't one because of as of now I don't see any need of it. I can easily trade my coins without any debit card.

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August 29, 2015, 10:51:55 AM
 #112

I don't have one myself, well at least don't have anything in it. But I do know people who use it, it is pretty nice. Fees are not low though. I still prefer regular, btc is just my hobby.

I also don't one because of as of now I don't see any need of it. I can easily trade my coins without any debit card.

At the moment i dont have any of them, the fees are little high for me. If i earn lots of bitcoins then the fees are low(nothing). Maybe waiting for a bit they will start lowering the fees.
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August 29, 2015, 10:57:56 AM
 #113

I'm planning to get 1 for myself but I will not use it like my regular credit card, just for emergency purposes only and I heard fee's are kinda high

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August 29, 2015, 11:18:37 AM
 #114

I'm planning to get 1 for myself but I will not use it like my regular credit card, just for emergency purposes only and I heard fee's are kinda high

The 2 bitcoin debit card that i am searching are bit-x and coinomat card(coinocard)
For the coinomat debit card here is the link with fees: https://coinomat.com/cards.php
And bit-x debit card https://bit-x.com/guide/bitx-cards

Both of them have similar fees but it is still high. Do you know any other?
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August 29, 2015, 11:19:58 AM
 #115

I'm planning to get 1 for myself but I will not use it like my regular credit card, just for emergency purposes only and I heard fee's are kinda high

always useful to have such a thing available in emergencies though, why would a person care about transaction fees in emergency anyway. I have a seperate bank credit card for such emergencies, its my back up account. The ones I use on a rainy day, but its all good. I am trying to use the most out of what banks could do for me, but bitcoin somehow seems as an overall satisfaction, just craving more adoption for better transactions.
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August 29, 2015, 03:08:53 PM
 #116

I'm planning to get 1 for myself but I will not use it like my regular credit card, just for emergency purposes only and I heard fee's are kinda high

always useful to have such a thing available in emergencies though, why would a person care about transaction fees in emergency anyway. I have a seperate bank credit card for such emergencies, its my back up account. The ones I use on a rainy day, but its all good. I am trying to use the most out of what banks could do for me, but bitcoin somehow seems as an overall satisfaction, just craving more adoption for better transactions.

This is a motivation for me. I will research more about these debits cards and order one only for these situations.
It is very useful for emergencies and the fees shouldn't be consider in these cases.

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August 29, 2015, 03:54:47 PM
 #117

useful to withdraw your earnings

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August 29, 2015, 04:00:34 PM
 #118

useful to withdraw your earnings

It's hard to believe it, If you have 0.2BTC in your wallet (bitcoin debit card) then most of them will be spent on fees. Check my post for example 2 type of debit cards:

-snip-

For the coinomat debit card here is the link with fees: https://coinomat.com/cards.php
And bit-x debit card https://bit-x.com/guide/bitx-cards

-snip-
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August 29, 2015, 07:38:12 PM
 #119

I would rather use my smartphone if I want to pay in Bitcoin. If the merchant is not accept Bitcoin then too bad for him. They should get with the times and start accepting it. I don't use debit cards whether its bitcoin or fiat.
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August 29, 2015, 09:16:53 PM
 #120

I would rather use my smartphone if I want to pay in Bitcoin. If the merchant is not accept Bitcoin then too bad for him. They should get with the times and start accepting it. I don't use debit cards whether its bitcoin or fiat.

I think it's more risky in smartphone, there are many malware especially for Android phones.
If you have a good antivirus (like CM Security) and you don't download apps from some "Earn money while downloading and testing apps and games" then you should be safe.
I think that it is needed to use debit cards even if it is bitcoin or fiat, has been a must for us to use it online.

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