I just tested out a bitcoin debit card and it worked!

[Hyena]

I registered an account in CCDEDK and ordered the bitcoin debit card. I activated the card in bit-x.com for 0.05 bitcoins and transferred 0.2 bitcoins to there for testing purposes. I did not verify my account.

Yesterday I went out and was able to withdraw 5 euros from some random ATM and later I bought a 2.8 EUR beer from a pub paying with the bit-x debit card. Everything worked flawlessly, although I was not able to check my balance in the ATM since that operation failed. My bit-x account balance is constantly changing with the price of bitcoin, so this truly is the kind of debit card we have been waiting for.

You can now pay with bitcoins everywhere where debit card is accepted. I am not affiliated with the named companies in any way. I am just writing about this because yesterday was a historic day for me and I've been waiting for such a debit card for years. You can now maul all bitcoin sceptics who think that this magic internet money is not accepted anywhere by showing them your bitcoin debit card and laughing at them and their worthless fiat that loses value every day.

[LFC_Bitcoin]

Interesting, thanks for sharing. Personally I'm a mete HODLER, I don't soeny any of my stash aside from small amounts gambling with money I get from a signature campaign.

I will be very interested in bitcoin debit cards but not yet, it's way too early for me to start using one. Maybe if we get a solid, trustworthy 100% reliable debit card used by the majorityof bitcoiners I will jump on board but not now whilst it's so rare.

Great to read your experiences though.

[Hyena]

Interesting, thanks for sharing. Personally I'm a mete HODLER, I don't soeny any of my stash aside from small anlunts gambling with money I get from a signature campaign.

I will be very interested in bitcoin debit cards but not yet, it's way too early for me to start using one. Maybe if we get a solid, trustworthy 100% reliable debit card used by the majorityof bitcoiners I will jump on board but not now whilst it's so rare.

Great to read your experiences though.

I'm also a hodler and that's why I like the power that comes with owning a bitcoin debit card. It's not a typical prepaid card you know. Instead, you have live bitcoins in your account. This way I can convert my pay cheque immediately to bitcoins and hold even less fiat than before.

[g1974ak]

The bitcoin debit card are useful but the problem is not to have one of those but to have bitcoin in your account. If you will not have the possibility to have continuous flow of bitcoin on your account this debit card doesn't have value. So first must be found the way to have bitcoins and then to have bitcoin debit cards. The first is a big problem while the second I don't think so.

[Hyena]

The bitcoin debit card are useful but the problem is not to have one of those but to have bitcoin in your account. If you will not have the possibility to have continuous flow of bitcoin on your account this debit card doesn't have value. So first must be found the way to have bitcoins and then to have bitcoin debit cards. The first is a big problem while the second I don't think so.

I don't know which part of the world you live in, but buying bitcoins here is very easy. The Europe is full of ATMs and there are many exchange sites. Localbitcoins works very well, I have personally tested it.

[Amph]

aren't the fees very high with that card, isn't the whole point of btc to have low fee? i can see that the monthly fee is free for the first 10k members, but i doubt there is only that kind of fee

i hope that this card is somehow anonymous, maybe under a certain amount as usual

[Mickeyb]

I registered an account in CCDEDK and ordered the bitcoin debit card. I activated the card in bit-x.com for 0.05 bitcoins and transferred 0.2 bitcoins to there for testing purposes. I did not verify my account.

Yesterday I went out and was able to withdraw 5 euros from some random ATM and later I bought a 2.8 EUR beer from a pub paying with the bit-x debit card. Everything worked flawlessly, although I was not able to check my balance in the ATM since that operation failed. My bit-x account balance is constantly changing with the price of bitcoin, so this truly is the kind of debit card we have been waiting for.

You can now pay with bitcoins everywhere where debit card is accepted. I am not affiliated with the named companies in any way. I am just writing about this because yesterday was a historic day for me and I've been waiting for such a debit card for years. You can now maul all bitcoin sceptics who think that this magic internet money is not accepted anywhere by showing them your bitcoin debit card and laughing at them and their worthless fiat that loses value every day.

I have a bit-x debit card as well. Even though I am in their signature campaign, so people might think that I have interest to talk good about them, I have to share your enthusiasm. Card is simply amazing and it works very well. My Bitcoins are now spendable everywhere and anywhere. Just what Bitcoin needs until all world doesn't start accepting Bitcoin!

I would recommend it to everyone. One might argue that the fees are little steep, but I am sure this will change as well as the card starts beeing widely used.

[Hyena]

aren't the fees very high with that card, isn't the whole point of btc to have low fee? i can see that the monthly fee is free for the first 10k members, but i doubt there is only that kind of fee

i hope that this card is somehow anonymous, maybe under a certain amount as usual

The fees will probably be reduced when the competition builds up. To me it makes a huge difference because I am bullish on bitcoin and I expect its value to rise while the value of my euros decreases over time. I expect bitcoin to rise more than the friction from debit card would lower the value of my coins. Also I like the greater anonymity that comes with such a debit card.

[ajareselde]

@op , how much did you pay for shipping of the card and does it take out btc equivalent from main balance of your account ?

I have seen that they removed the monthly inactivity fee, so i am tempted to try it out as well, but you do need to verify ID to be able to
cashout larger amunts; there's some sort of anti money laundering law which forces it.

cheers

[Dire]

Interesting, thanks for sharing. Personally I'm a mete HODLER, I don't soeny any of my stash aside from small anlunts gambling with money I get from a signature campaign.

I will be very interested in bitcoin debit cards but not yet, it's way too early for me to start using one. Maybe if we get a solid, trustworthy 100% reliable debit card used by the majorityof bitcoiners I will jump on board but not now whilst it's so rare.

Great to read your experiences though.

I'm also a hodler and that's why I like the power that comes with owning a bitcoin debit card. It's not a typical prepaid card you know. Instead, you have live bitcoins in your account. This way I can convert my pay cheque immediately to bitcoins and hold even less fiat than before.

I use one that's essentially pre-paid, so it fixes the price when I load it. I kind of like that in some ways, as if BTC to USD shoots up, I make a kind of profit. But I'd also like a card that exactly uses Bitcoin like you mention.

When you deposit BTC is it the 1:1 price, or do they shave a percentage off?

[jeannemadrigal2]

"I would recommend it to everyone. One might argue that the fees are little steep, but I am sure this will change as well as the card starts beeing widely used."


I doubt that the fees would change because of wide use.  If it is widely used at the current rates, then bit-x will know that they have priced it accordingly and will keep the fees there.  The only way they will ever lower the fees is if there is a competitor that is gaining more customers with lower fees.

I like the idea of the card, but with the fees I will just stick to my usual purchasing ways.  My current fiat card pays me to use it, not the other way around, assuming that I pay it off every month.  And I have it on auto pay, so that should not ever be a problem.

[Hyena]

@op , how much did you pay for shipping of the card and does it take out btc equivalent from main balance of your account ?

I have seen that they removed the monthly inactivity fee, so i am tempted to try it out as well, but you do need to verify ID to be able to
cashout larger amunts; there's some sort of anti money laundering law which forces it.

cheers

I paid 0.1 bitcoins to CCEDK for shipping and 0.05 to bit-x for activation. I suspect that if I had ordered from bit-x then I would have paid just 0.05 for shipping and 0.05 for activation because that's what they say in their website.

Without verification you can spend 250 EUR worth of bitcoins per year. With verification you can spend 2500 euros per year. And then there is some "bank contract" thingy that would hypothetically allow unlimited spending but I don't know anything about its details.

[jinxEDG]

This one seems really cool, I will get one also if I will ever have some spare Bitcoins.

[faridkifly]

Interesting!
I hope in my country I can use bit-x debit card.. As I know, it can't be used in my country

[fryarminer]

@op , how much did you pay for shipping of the card and does it take out btc equivalent from main balance of your account ?

I have seen that they removed the monthly inactivity fee, so i am tempted to try it out as well, but you do need to verify ID to be able to
cashout larger amunts; there's some sort of anti money laundering law which forces it.

cheers

They removed the inactivity fee? That's what turned me off! That's cool.

[Mickeyb]

"I would recommend it to everyone. One might argue that the fees are little steep, but I am sure this will change as well as the card starts beeing widely used."


I doubt that the fees would change because of wide use.  If it is widely used at the current rates, then bit-x will know that they have priced it accordingly and will keep the fees there.  The only way they will ever lower the fees is if there is a competitor that is gaining more customers with lower fees.

I like the idea of the card, but with the fees I will just stick to my usual purchasing ways.  My current fiat card pays me to use it, not the other way around, assuming that I pay it off every month.  And I have it on auto pay, so that should not ever be a problem.

I agree with everything you said and competition will definitely show up and then the fees will decrease. If there is money to be made in this field, you can bet that there will be competition.

[Derrike]

Thanks for sharing your experience, really appreciate it.
I'm looking forward to apply for this debit card and was looking for a good one for a while.

[belltown]

No, this card also has fees so high that it's unusable.

Even if you manage to avoid monthly fees:
- for each purchase made with the card you pay 0.002 BTC + 1% fee
- for each ATM withdrawal you pay 0.01 BTC + 3% fee

https://bit-x.com/guide/bitx-cards

[Hyena]

No, this card also has fees so high that it's unusable.

Even if you manage to avoid monthly fees:
- for each purchase made with the card you pay 0.002 BTC + 1% fee
- for each ATM withdrawal you pay 0.01 BTC + 3% fee

https://bit-x.com/guide/bitx-cards

I guess you and I have different definitions for the word unusable. I personally think that 1% fee is nothing in comparison to the privilege of having live bitcoins on your debit card. I'm not going to switch 100% on this card but I will use up my limits for an extra pocket money while remaining somewhat under the radar for the powers that like to spy on people and on their purchases.

[HappyComplex]

Residents of the following countries can order a card but may not raise limits above the "without any verification" limits due to Financial Action Task Force (FATF) and Central Bank restrictions.

Afghanistan, Albania, Algeria, Angola, Cambodia, Democratic Peoples's Republic of Korea (DPRK), Ecuador, Guyana, Indonesia, Iran, Iraq, Kuwait, Lao PDR, Myanmar, Namibia, Nicaragua, Pakistan, Panama, Papua New Guinea, Sudan, Syria, Uganda, USA, Yemen, Zimbabwe.

USA, land of the free!