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mostkey (OP)
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June 17, 2017, 07:28:24 AM |
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If I may ask, what is the advantage of using credit card bitcoins?Can it benefit us? Or just make us incur losses,With unstable bitcoin prices, seems to be making us a incur losses ,!
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Nagadota
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June 17, 2017, 07:43:33 AM |
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With unstable bitcoin prices, seems to be making us a incur losses
Well that's just dumb. Bitcoin and altcoins are in an extremely dramatic bull market, so with regular use it would be better for you, at least for now. Still, using a Bitcoin "credit card" means that you're actually converting to fiat to spend instead of spending bitcoin - this means that you're not encouraging merchant adoption by spending at places that actually accept it. You're also forfeiting the main benefit of Bitcoin, which is that you have responsibility over your money. A credit card like this is basically an online wallet, and you're not controlling it yourself. |
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Patatas
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June 17, 2017, 08:19:02 AM |
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If I may ask, what is the advantage of using credit card bitcoins?Can it benefit us? Or just make us incur losses,With unstable bitcoin prices, seems to be making us a incur losses ,!
There is no advantage as such.It is more reliable to just your card instead of logging into your wallet every time you have to make a payment "onsite". For your regular transactions online ,card won't help much but incase you live in a city where bitcoins are accepted in stores and all you can always carry a card with you. About the prices ,nothing much to say since the prices remains te same regardless.Also some cards do come with service fees which can potentially increase your purchase. |
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pinkpanther03
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June 17, 2017, 10:56:34 PM |
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If I may ask, what is the advantage of using credit card bitcoins?Can it benefit us? Or just make us incur losses,With unstable bitcoin prices, seems to be making us a incur losses ,!
Well, for me I am happy using bitcoin so far. So I don't think that bitcoin credit card is not a good things for me because as we all know all credit card company are regulated industry While Bitcoin is decentralized, therefore my answer is I am not in favor of Bitcoin credit card because we are the bank of our own bitcoin. |
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LTU_btc
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June 17, 2017, 11:30:27 PM |
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First of all, there are no bitcoin credit cards, only bitcoin debit cards. What is main benefit of these cards? Well, it allows to pay with bitcoins for purchases wherever cards is accepted. So, it helps to use ypur bitcoin in real life.
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doomloop
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June 20, 2017, 11:50:33 PM |
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If I may ask, what is the advantage of using credit card bitcoins?Can it benefit us? Or just make us incur losses,With unstable bitcoin prices, seems to be making us a incur losses ,!
There is no advantage as such.It is more reliable to just your card instead of logging into your wallet every time you have to make a payment "onsite". For your regular transactions online ,card won't help much but incase you live in a city where bitcoins are accepted in stores and all you can always carry a card with you. About the prices ,nothing much to say since the prices remains te same regardless.Also some cards do come with service fees which can potentially increase your purchase. i think Credit card would be very difficult to keep your bitcoin safe and sound all the time as your hardware wallet can be, as for you online transaction card wont help much because there must be very difficult to get through its whole process, bitcoin is now accepted in some of the markets and it is now providing a huge profit to everyone, about the price it is already increasing day by day, it would reach the highest rates very soon so I would like to suggest online wallets instead of credit card. |
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wdnj
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June 20, 2017, 11:53:21 PM |
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If I may ask, what is the advantage of using credit card bitcoins?Can it benefit us? Or just make us incur losses,With unstable bitcoin prices, seems to be making us a incur losses ,!
There are some reasons to use the bitcoin debit cards, one of them is if you can't exchange the bitcoin for fiat within a short period of time. Then another one is spending the bitcoin online like a credit card, but remember that the fees are very noticeable. Recently the limit has been dropped almost on every credit card processor/service like wirex etc to maximum of 250 USD to spend monthly. |
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MingLee
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June 21, 2017, 12:01:53 AM |
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If I may ask, what is the advantage of using credit card bitcoins?Can it benefit us? Or just make us incur losses,With unstable bitcoin prices, seems to be making us a incur losses ,!
The various companies like Bitpay and Xapo offer debit cards as opposed to credit cards for Bitcoin, since it is difficult to go after someone for credit on an asset that most governments don't even recognize legally speaking. A BTC debit card will not make you incur any kind of losses other than what you'd experience normally from the market. I'm not sure how you draw that kind of conclusion. |
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rafajunior99
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June 21, 2017, 12:08:38 AM |
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Actually, these are not bitcoin debit cards really, these are fiat money cards that allow you use bitcoin to fund them. You deposit your coins in the website of the company that offers the card, this company convert your coins to fiat and loads your card.
If the same as fiat means the same as ATM real money, which is stored with the bank then on the sidelines of the bank inserted into the card with the number of numbers, which only distinguish the name alone, ATM uses real currency. If Bitcoin is in digital form then Conference becomes currency. Maybe like that |
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Karmakid
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June 21, 2017, 12:22:48 AM |
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Yes ofcourse it can benefit us if bitcoin credit cards will be issued and bitcoins atm will be around the world now or later.It would be easy for us to convert and get money into it.Only disadvantage of that i think is identity theft i think
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hase0278
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June 21, 2017, 12:23:08 AM |
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If I may ask, what is the advantage of using credit card bitcoins?Can it benefit us? Or just make us incur losses,With unstable bitcoin prices, seems to be making us a incur losses ,!
To be frank the only advantage of using credit card bitcoins is that it would be easier to spend because it is a credit card and many accepts it. It can benefit us because sometimes it is easier to convert bitcoin to fiat this way, but it discourages bitcoin adoption. The only losses you will incur with bitcoin credit card the normal loss you will have when market moves, and also some fees, nothing more. |
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DOGE12321
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June 21, 2017, 12:42:53 AM |
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With unstable bitcoin prices, seems to be making us a incur losses
Well that's just dumb. Bitcoin and altcoins are in an extremely dramatic bull market, so with regular use it would be better for you, at least for now. Still, using a Bitcoin "credit card" means that you're actually converting to fiat to spend instead of spending bitcoin - this means that you're not encouraging merchant adoption by spending at places that actually accept it. You're also forfeiting the main benefit of Bitcoin, which is that you have responsibility over your money. A credit card like this is basically an online wallet, and you're not controlling it yourself. I agree. This is true, but there really is not much more options available at the moment. If you want to use your Bitcoin you need to first sell it, convert it to fiat and then purchase commodities. Fiat opens a wider diversity of goods to purchase. This, of course, needs to change if Bitcoin is to work. Bitcoin needs to rise further in popularity and become accepted by various vendors. This must happen in order for Bitcoin to attain its goal as the first successful decentralised currency. We are seeing more mainstream attention for Bitcoin. So maybe this future is just around the corner. |
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UCHCHILD
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June 21, 2017, 12:52:52 AM |
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For me, maybe if the dev. of the credit card will allow the fast transfer of the transaction maybe it is good enough but if not and may have the same feature or the same slow transaction then I guess there is no advantage of having credit card at all.
And so bitcoin credit card will fall into bank? The feature of anonymity will be erase then that so sad because in credit card it needs some of your information like name, age and address.
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SONG GEET
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June 21, 2017, 01:25:36 AM |
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If I may ask, what is the advantage of using credit card bitcoins?Can it benefit us? Or just make us incur losses,With unstable bitcoin prices, seems to be making us a incur losses ,!
Most of bitcoin debit card have option to deposit bitcoin first and than you have to load your card interms of fiat. So I don't think you will loss anything when using those cards due to price fluctuation of bitcoin. |
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mobnepal
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June 21, 2017, 01:47:23 AM |
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If I may ask, what is the advantage of using credit card bitcoins?Can it benefit us?
There are many advantage of using bitcoin debit cards specially when doing online shopping. As bitcoin is still not accepted by many merchants around the world, these cards can be used almost anywhere where credit cards are accepted and even in ATMs to quickly spend and use your bitcoins. Not only bitcoin there are many card providers that accept multiple alts for deposits, which I find really useful and I am using one of those debit card to spend on domain registration, hosting and facebook advertising. |
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hardtime
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June 21, 2017, 03:07:38 PM |
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Personally, I would rather do something along the lines of just selling the Bitcoin and then paying off the Credit / Debit card with the money made from selling the bitcoins which you're probably going to be earning on a set schedule. I feel as if the current bitcoin cards are just going to get you into more fees and the volatility of the BITCOIN currency itself isn't going to help you when you want to make these transactions happen. I'd rather have the flexibility of a normal card and the reliability of a normal card which is going to be fine and even help you in the long run with helping you build up a credit score. If I may ask, what is the advantage of using credit card bitcoins?Can it benefit us? Or just make us incur losses,With unstable bitcoin prices, seems to be making us a incur losses ,!
To be frank the only advantage of using credit card bitcoins is that it would be easier to spend because it is a credit card and many accepts it. It can benefit us because sometimes it is easier to convert bitcoin to fiat this way, but it discourages bitcoin adoption. The only losses you will incur with bitcoin credit card the normal loss you will have when market moves, and also some fees, nothing more. It may discourage adoption of Bitcoin, but it does give people an incentive to use their bitcoin and allows them to use it. This changes it from their bitcoins just sitting around and not doing anything, so I guess it does help depending on the way you look at it. |
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mostkey (OP)
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June 21, 2017, 03:26:31 PM |
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But what about the possible losses that may be very large when we pay the credit card itself, for example "if we spend bitcoin when bitcoin prices in the range of $ 2600 and we pay credit cards bitcoin for $ 3000" Is This not a big loss? Looks like using bitcoin credit cards will only make us poorer, right?
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katepagava
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June 21, 2017, 10:10:16 PM |
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Maybe in future, but not now, definatly  |
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gentlemand
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June 21, 2017, 10:15:56 PM |
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Debit cards are a huge boon to people in countries with crappy exchange situations if they're looking to spend or cash out a little. The big operators now send cards to a lot of countries. Some of them with barely any Bitcoin presence at all. You pay a foreign currency fee but it still beats meeting some geezer in a souk to get some cash. Here's Xapo's list - https://support.xapo.com/which-countries-can-the-xapo-debit-card-be-shipped-to |
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elisabetheva
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June 22, 2017, 06:51:03 PM |
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If I may ask, what is the advantage of using credit card bitcoins?Can it benefit us? Or just make us incur losses,With unstable bitcoin prices, seems to be making us a incur losses ,!
With so many banks and countries that have not acknowledged the existence of bitcoin, it seems that bitcoin credit cards have not been profitable for use let alone to wear |
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