MisterKT (OP)
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September 12, 2017, 07:34:48 PM |
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Hello all, I read the white papers of projects offering the cryptocurrencies card, such as TenX, TokenCard or Uquid. Could anyone explain me how the conversion from cryptocurrency to fiat is made when the card holder pay the merchant?
Thanks in advance for your response
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franky1
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September 12, 2017, 07:38:24 PM |
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you hand bitcoin to the service.
the service privately sells the bitcoin for fiat on exchanges to refill its fiat reserves,
the fiat reserves the service have are used to topup/charge/load the debit cards
but all the customer see's is that they hand over bitcoin and get credited fiat on their card
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I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER. Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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MisterKT (OP)
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September 12, 2017, 07:41:51 PM |
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you hand bitcoin to the service.
the service privately sells the bitcoin for fiat on exchanges to refill its fiat reserves,
the fiat reserves the service have are used to topup/charge/load the debit cards
but all the customer see's is that they hand over bitcoin and get credited fiat on their card
Allright, do you know any company that provides this kind of service? What are the fees? Thanks
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BTCdoaA
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September 12, 2017, 07:46:47 PM |
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you hand bitcoin to the service.
the service privately sells the bitcoin for fiat on exchanges to refill its fiat reserves,
the fiat reserves the service have are used to topup/charge/load the debit cards
but all the customer see's is that they hand over bitcoin and get credited fiat on their card
Allright, do you know any company that provides this kind of service? What are the fees? Thanks There are some specialize company provide this service long time ago example: spectrocoin.com/en/account.html
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bitart
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
September 12, 2017, 07:55:37 PM |
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you hand bitcoin to the service.
the service privately sells the bitcoin for fiat on exchanges to refill its fiat reserves,
the fiat reserves the service have are used to topup/charge/load the debit cards
but all the customer see's is that they hand over bitcoin and get credited fiat on their card
Allright, do you know any company that provides this kind of service? What are the fees? Thanks If you are from the EU, you can check XAPO as well, they have a bitcoin debit card directly linked to your bitcoin wallet, so they do the exchange on the fly when you use your card, you don't need to top up your card every time. Their support is always overloaded, you can check about them in the bitcointalk forum as well, they have their own thread. https://bitcointalk.org/index.php?topic=902526.0
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MisterKT (OP)
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September 12, 2017, 08:17:29 PM |
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you hand bitcoin to the service.
the service privately sells the bitcoin for fiat on exchanges to refill its fiat reserves,
the fiat reserves the service have are used to topup/charge/load the debit cards
but all the customer see's is that they hand over bitcoin and get credited fiat on their card
Allright, do you know any company that provides this kind of service? What are the fees? Thanks If you are from the EU, you can check XAPO as well, they have a bitcoin debit card directly linked to your bitcoin wallet, so they do the exchange on the fly when you use your card, you don't need to top up your card every time. Their support is always overloaded, you can check about them in the bitcointalk forum as well, they have their own thread. https://bitcointalk.org/index.php?topic=902526.0Thanks all for the response, but let me make myself clear: i acknowledge the existence of those platforms that provide the exchange on the fly service through their card. My question is: Is there any way to implement this myself, to be independant from those platforms?
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tsaroz
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Vave.com - Crypto Casino
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September 12, 2017, 08:52:21 PM |
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you hand bitcoin to the service.
the service privately sells the bitcoin for fiat on exchanges to refill its fiat reserves,
the fiat reserves the service have are used to topup/charge/load the debit cards
but all the customer see's is that they hand over bitcoin and get credited fiat on their card
Allright, do you know any company that provides this kind of service? What are the fees? Thanks If you are from the EU, you can check XAPO as well, they have a bitcoin debit card directly linked to your bitcoin wallet, so they do the exchange on the fly when you use your card, you don't need to top up your card every time. Their support is always overloaded, you can check about them in the bitcointalk forum as well, they have their own thread. https://bitcointalk.org/index.php?topic=902526.0Thanks all for the response, but let me make myself clear: i acknowledge the existence of those platforms that provide the exchange on the fly service through their card. My question is: Is there any way to implement this myself, to be independant from those platforms? Bitcoin is a digital assets with value. You either exchange it personally with someone for fiat, buy a product or service with bitcoins or trust a platform to send you cash for bitcoins (Cash directly to your bank account with some fees.).
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saiscoin
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The Alt Whisperer
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September 12, 2017, 09:22:51 PM |
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My friend changes it to BTC and then puts it in coinbase and takes it out through there.
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MisterKT (OP)
Newbie
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Activity: 56
Merit: 0
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
September 12, 2017, 09:53:22 PM |
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you hand bitcoin to the service.
the service privately sells the bitcoin for fiat on exchanges to refill its fiat reserves,
the fiat reserves the service have are used to topup/charge/load the debit cards
but all the customer see's is that they hand over bitcoin and get credited fiat on their card
Allright, do you know any company that provides this kind of service? What are the fees? Thanks If you are from the EU, you can check XAPO as well, they have a bitcoin debit card directly linked to your bitcoin wallet, so they do the exchange on the fly when you use your card, you don't need to top up your card every time. Their support is always overloaded, you can check about them in the bitcointalk forum as well, they have their own thread. https://bitcointalk.org/index.php?topic=902526.0Thanks all for the response, but let me make myself clear: i acknowledge the existence of those platforms that provide the exchange on the fly service through their card. My question is: Is there any way to implement this myself, to be independant from those platforms? Bitcoin is a digital assets with value. You either exchange it personally with someone for fiat, buy a product or service with bitcoins or trust a platform to send you cash for bitcoins (Cash directly to your bank account with some fees.). Thanks! Can anyone describe me what is the workflow behind a fiat-cryptocurrency exchange? From a legal point of view, my bank transfer money to the app (let's say TenX): how does TenX change my fiat into Crypto? Do they have a real bank account ?
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