LocalCoin Visa Debit Card (Canada's First VISA Debit Card)

[DarkStar_]

LocalCoin launched their Visa Debit Card 2 days ago for Canadians: https://localcoin.ca/canada-visa-debit-card/
I believe they are the first to enter this market on a large scale. Quadriga has one too, but it's invitation only at the moment.

Localcoin Visa Debit Card Features

    No photo ID required
    Account balance maximum of $7500
    24 hour activation period
    Physical & Virtual Cards Available
    Visa issued cards
    Accepts Bitcoin

Fees are quite bad though, but this is a decent first step towards eventual competition (hopefully)

Limits
Daily Load Maximum: $7,500
Card Balance Maximum: $7,500
Card Activation Fee: $4.99
Card Load Fee: 5%

Get a card here: https://localcoin.ca/product/order-visa-debit-card/

[MadGamer]

Is it supposed to be for Canadians only? because I can clearly see a drop menu which allows selecting countries. Also, why does it ask for an address for the shipping after I select virtual cards?

Aside from that, it looks promising and I guess not being obliged to pass a KYC verification comes with a price that I'm personally fine paying it as long as I could keep my privacy.

[LeGaulois]

In 2018 it is a privilege to have a Visa card used with Bitcoin (Without ID on the top of that). @MadGamer Yep. Too bad it's for Canadian citizens only. And yes quite high fees for 5% but  I guess it's the price of such privilege and I think I would still use it if it was available to me

[Steamtyme]

Seems like a pretty sweet deal for anyone holding a decent amount of spendable coin. That 5% isn't so bad when you look at the fees and time frames for withdrawals with some of the Canadian exchanges.

Reading through their compliance reporting. Seems to me this leaves an honor system in place regarding the Capital Gains in Canada.

Is it supposed to be for Canadians only? because I can clearly see a drop menu which allows selecting countries. Also, why does it ask for an address for the shipping after I select virtual cards?

No I believe it would be available to most countries. In the fees you can see a $1.00 for international POS. It may have been for their other services/funding with FIAT but I did see something about a 3% conversion fee as well.

I think the address part is a requirement regardless. It's 1 of the 3 things required no matter what.

Name-Address- Birthdate

Just saying though they do not require valid ID to back this information up.

[MadGamer]

No I believe it would be available to most countries. In the fees you can see a $1.00 for international POS. It may have been for their other services/funding with FIAT but I did see something about a 3% conversion fee as well.

I think the address part is a requirement regardless. It's 1 of the 3 things required no matter what.

Name-Address- Birthdate

Just saying though they do not require valid ID to back this information up.

That could actually be problematic in the future. I remember when we had e-coin.io before they rebranded to Wirexapp, they were actually doing the same and there was no need to back to send documents. In fact, when I said that my country is not supported, they hinted that I should use fake information's.

So, it may start like that but eventually, people might themselves in a position where they'll have to either provide their documents or have their funds locked.

[sizief]

No I believe it would be available to most countries. In the fees you can see a $1.00 for international POS. It may have been for their other services/funding with FIAT but I did see something about a 3% conversion fee as well.

I think the address part is a requirement regardless. It's 1 of the 3 things required no matter what.

Name-Address- Birthdate

Just saying though they do not require a valid ID to back this information up.

Not correct. I purchased their service 2 weeks ago, then I called to activate my card and they started to ask several personal questions. I refused to answer, now they send an email stated that I need to send the followings:
    Selfie of yourself holding a note
    A Photo of a Government-issued valid ID (from both sides)
    Proof of Address

Do not trust them.