Abra enables BTC buying with Visa and Mastercard worldwide up to $20k

[gentlemand]

https://www.cryptoninjas.net/2018/07/12/abra-enables-visa-and-mastercard-option-to-buy-bitcoin/

Apart from these shitholes - https://www.simplex.com/kb/does-simplex-support-all-countries/

You can buy up to $20,000 a time with a debit or credit card.

That's rather useful to a lot of people. I wonder if there'll be a vast premium or not.

[Conasse]

Surely need a KYC verification right? Sorry to ask because I didn't know about Abra app...

[gentlemand]

Almost certainly. No way would they be Able to operate without it.

From reading elsewhere it looks like the fee is 8%. Ugh.

[BitHodler]

From reading elsewhere it looks like the fee is 8%. Ugh.

Abra itself states 8% so that's correct. I don't think anyone is crazy enough, unless extremely desperate, to use their service. It's straight extortion and I strongly believe the main layer (Visa) to be responsible for that.

What I however don't understand is that when you look at Abra's site, they state that the fee is honest and they only charge a small fee. How on earth is 8% small and a honest fee? 8% of $20,000 translates into a $1600 fee.

It almost looks surreal.......

[Slow death]

From reading elsewhere it looks like the fee is 8%. Ugh.

Abra itself states 8% so that's correct. I don't think anyone is crazy enough, unless extremely desperate, to use their service. It's straight extortion and I strongly believe the main layer (Visa) to be responsible for that.

What I however don't understand is that when you look at Abra's site, they state that the fee is honest and they only charge a small fee. How on earth is 8% small and a honest fee? 8% of $20,000 translates into a $1600 fee.

It almost looks surreal.......

I always pay high fees to transfer money from the neteller to skril and skrill to my bank, if I am going to transfer  $100 then $30 will be of fee. Now I have a question, these guys allow withdrawal of money for the visa card? because I did not see them mention the option of withdrawing bitcoins to the visa card

[gentlemand]

I always pay high fees to transfer money from the neteller to skril and skrill to my bank, if I am going to transfer  $100 then $30 will be of fee. Now I have a question, these guys allow withdrawal of money for the visa card? because I did not see them mention the option of withdrawing bitcoins to the visa card

Doubtful.

This is who they're using - https://www.simplex.com/about/

And it looks like a one way street to me.

[1Referee]

I always pay high fees to transfer money from the neteller to skril and skrill to my bank, if I am going to transfer  $100 then $30 will be of fee.

All these intermediary fees are retarded as heck. I remember a couple of years ago to have sent €500 euros converted to NZD to someone's NZ bank account, and it cost me €60 in total. I ended up paying €560 just to move €500 worth of a foreign currency to someone's bank account, and it took 8 business days before it even posted. I just now calculated the fees and the estimated number of days before the same transaction will be fully processed, and nothing even changed. This is fucking 2018 not 2000!!

I'm glad that 90% of my business activities nowadays are based on Bitcoin. No one should cope with this tyranny.