Blockchain wallet will allow credit and debit card funding

[superiorus]

The most used bitcoin wallet - Blockchain - has lauched a new feature (it is in beta stage for UK users and it will roll out across the Eurozone in the next weeks): will allow users to fund their balances directly with credit and debit cards.
The new feature is possible after a partnership between Blockchain and Coinify.
What is your opinion about this?

[OmegaStarScream]

I read about this yesterday on Coindesk . I think It's pretty good as they have millions of users and this should give users (most new ones who don't know about much BTC) a faster way to buy bitcoin instead of using other third party services. If they only started in the U.K I'm pretty sure It's going to be restricted in some countries even after the Beta stage which is kinda sad , hopefully the fees aren't much too.

[~Bitcoin~]

This sound more like blockchain wallet is also going to be server based rather than client based over few months after they will make this global and also add trading platform just like coinbase. This may also force them to have KYC policy and may require verification system to be added, which for sure gonna hurt lots of their users. I will also stop using them if they start verfication or any limitation just like coinbase has.

[olushakes]

This is actually a development in the right direction and hopefully they can extend it to other countries of the world and since Blockchain has been there for a while, I think they can pull it off without any compromise to the issue of security and also they should equally add withdrawal to it because that is what is really needed.

[bitbunnny]

I use blockchain wallet and this sounds like a good news to me. They arew obviously following some trends and demands of their users who will buy Bitcoins much easier and convenient that way.
Hope that fees will not be too high and that the service will be widely available soon.

[Ayers]

so i guess it will be possible to withdraw also or only deposit from your credit debit card to the blockchain? it will require document or will be completely free from it?

[unamis76]

Pretty much whatever makes adoption rates bigger and makes it easier for people to buy Bitcoin is a good thing. Now it will depend on fees... Something tells me they won't be light, but we'll see. Still an easy and quick way for people to buy Bitcoins (with the lack of anonymity associated with it, but that's for each one of us to consider).

[amacar2]

This will be one of the biggest move from blockchain and may appear as direct strong competitor for coinbase. Will be looking forward for them to start allowing this option as global service.

[Senja Kemuning]

Good news, very nice hear about it. I always use web wallet from the blockchain.info, and until now have never encountered a problem. I think the wallet from blockchain.info is very good and full secure. While now, I'm not interested to trying other wallets.

[pooya87]

this is very good mostly because there soon will be no need for services like coinbase and blockchain.info is a lot better because you own the private keys so you are one step safer compared to coinbase.

[btccashacc]

This sound more like blockchain wallet is also going to be server based rather than client based over few months after they will make this global and also add trading platform just like coinbase. This may also force them to have KYC policy and may require verification system to be added, which for sure gonna hurt lots of their users. I will also stop using them if they start verfication or any limitation just like coinbase has.

If someday they need us to provide our identity for KYC purpose, i think i will stop using their service, however enabled card funding feature it will help their user to buy bitcoin though it's only in UK.
I like when the online wallet never request ID or documentation from their clients, the privacy is my first priority. Hoping blockhain never gonna be another coinbase.

[The_prodigy]

The most used bitcoin wallet - Blockchain - has lauched a new feature (it is in beta stage for UK users and it will roll out across the Eurozone in the next weeks): will allow users to fund their balances directly with credit and debit cards.
The new feature is possible after a partnership between Blockchain and Coinify.
What is your opinion about this?

This gonna make goo when blockchain allow credit card to use to buy bitcoins from them and we can really use our debit our credit card to cash out bitcoins if they gonna accpet that tho blockchain wallet and it easy to fund balance directly to blockchain if this happen hmm hopefully.

[jack1111]

I recently answered a survey about blockchain wallet which is made by them, they want to know users' opinions about many features they want to add for the wallet, I remember there was a question about this feature. No doubt blockchain is the best online wallet and allowing credit cards funding will give them new advantage.

[piloder]

Recently found this about coinbase https://bitcointalk.org/index.php?topic=1685768.0
If blockchain start to accept credit and debit card funding they may also compromise user privacy just like now coinbase have to.

This feature may sound good but its not good for anonymity and privacy of customers on long run.

[jaberwock]

Wouldn't they require personal information and id verification like other exchanges do, for anti-money laundering and anti-fraud purposes?

I hope they'll still allow the old anonymous wallet works as usual, with no need of identification and stuff, and with an alternative tor service too

[Hazir]

I read about this yesterday on Coindesk . I think It's pretty good as they have millions of users and this should give users (most new ones who don't know about much BTC) a faster way to buy bitcoin instead of using other third party services. If they only started in the U.K I'm pretty sure It's going to be restricted in some countries even after the Beta stage which is kinda sad , hopefully the fees aren't much too.

You got it pretty right here. It could be pretty neat feature - with more than 8 millions wallet created they have huge user base.
But there are things I fear:

1. They might change their ToS and include some drastic changes to limit people's freedom.
2. Fees with service like this might be high. General idea - easier it is to acquire bitcoin the higher the fees are usually.

[Pursuer]

The most used bitcoin wallet - Blockchain - has lauched a new feature (it is in beta stage for UK users and it will roll out across the Eurozone in the next weeks): will allow users to fund their balances directly with credit and debit cards.
The new feature is possible after a partnership between Blockchain and Coinify.
What is your opinion about this?

I believe as long as they are not turning into a centralized wallet forcing out some users this can be a good news. because it is a good way of buying bitcoin easily and receiving it in a web wallet which you control the private keys.

but the problem with involvement of fiat is that they will start needing users to verify their identity and submit their documents and eventually turn away some users.

[Hazir]

but the problem with involvement of fiat is that they will start needing users to verify their identity and submit their documents and eventually turn away some users.

It is unfortunately inevitable change, as long as you are dealing with FIAT financial services then you have to be ready to give up some of your privacy.
What is a little surprising for me is when people seems to not not care about giving all their personal information to banks and refusing to do this in case of bitcoin exchange.

I understand that is because bitcoin exchanges are not so deeply rooted in legal system and history showed that their security system might be flawed AF.
Still I think that blockchain.info will be one of the few services I will trust with this.

[FaucetRank.com]

but the problem with involvement of fiat is that they will start needing users to verify their identity and submit their documents and eventually turn away some users.

It is unfortunately inevitable change, as long as you are dealing with FIAT financial services then you have to be ready to give up some of your privacy.
What is a little surprising for me is when people seems to not not care about giving all their personal information to banks and refusing to do this in case of bitcoin exchange.

I understand that is because bitcoin exchanges are not so deeply rooted in legal system and history showed that their security system might be flawed AF.
Still I think that blockchain.info will be one of the few services I will trust with this.

It's a good news for blockchain users but unfortunately I'm from that country to use debit/credit card option for finding bitcoin wallet but I hope in near future when the whole world will be using Bitcoin that time we will get this feature.

that's true that for this good feature user have to sacrifice his privacy but those users will not care who want to change his Fiat money to growing asset ( Bitcoin).

[OmegaStarScream]

~~Snip~~

1. They might change their ToS and include some drastic changes to limit people's freedom.

If that ever happens , It could lead to a disaster. I fair the worst , the same thing that happened to Coinbase with IRS could happen here If It's not done right , that's for sure.