Crypto debit card for FIAT payments - would you use one?

[Slow death]

What is would be the difference between traditional debitcard and crypto currency based debit card?

I'll answer that question using myself as an example:

I have account in my country banks, but my country's banks only allow people to deposit money into their accounts if people give income statements... as bitcoin is not legalized in my country so I can not deliver the income statements that proves the provenance of my funds. I can use paypal to withdraw my money for my bank account, but I can not withdraw more than  $1000 from paypal to my bank account.

So with mastercard card i solve my problem. That's why this idea of @OP is very good.

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[Moshaid]

This is definitely a good idea but they're some companies doing this which I would rather advice you come up with something unique and distinguishable among others. Likewise the fact that cryptocurrency hasn't been accepted world wide I think this would be another issue.

[tenakha]

Hello,
I'm here to explore the demand for crypto debit card.

The basics behind it is actually very simple:
1. You own some crypto funds on your account on an exchange (crypto/FIAT markets) that has partnered with a debit card provider. You'd have to identify yourself (pass KYC).
2. You get the card. It is a basic mastercard  debit card for FIAT payments. No magic.
3. When you use it, it automatically exchanges your crypto to FIAT based on the amount you're spending. You would even be able prioritize the order in which your crypto is to be exchanged the first, the second, etc.

So, would you use one? 
If yes, would such service motivate you enough to open an account on the exchange that is not (yet) one of the TOP ones?

Disclaimer: I'm a business owner in a position to offer such service. Knowing your opinion would help me a lot. So, thanks in advance!

We know that there is no positive side about identity. In cryptocurrency world there is no need for such a thing. But such things cause interest in humans because this is the technology of today. It is not possible to use BTC to shop at the store today and the presence of cards is better than time consuming exchanges.

[Indrawan77]

Its actually quite a good idea, it seems like the card could make the transactions become easier and it will be more efficient, but to make it happened you will need the government permit, and one of the part that I don't like is the kyc part, the main idea of crypto is to stay anonymous, if we keep on compromise one day crypto will become like fiat

[iMark]

This is definitely a good idea but they're some companies doing this which I would rather advice you come up with something unique and distinguishable among others. Likewise the fact that cryptocurrency hasn't been accepted world wide I think this would be another issue.

Then I will use both, depending on the advantages and what promos will be given, as long as there are not many
crypto debit cards accepted then of course I will use fiat payments first. just use it flexibly

[St4yInTh3D4rk]

Hello,
I'm here to explore the demand for crypto debit card.

The basics behind it is actually very simple:
1. You own some crypto funds on your account on an exchange (crypto/FIAT markets) that has partnered with a debit card provider. You'd have to identify yourself (pass KYC).
2. You get the card. It is a basic mastercard  debit card for FIAT payments. No magic.
3. When you use it, it automatically exchanges your crypto to FIAT based on the amount you're spending. You would even be able prioritize the order in which your crypto is to be exchanged the first, the second, etc.

So, would you use one? 
If yes, would such service motivate you enough to open an account on the exchange that is not (yet) one of the TOP ones?

Disclaimer: I'm a business owner in a position to offer such service. Knowing your opinion would help me a lot. So, thanks in advance!

When we are converting crypto every time then this may results in the increase of fee because withdrawal fee on the exchange is high so it won't be suitable for every transaction otherwise I am not against KYC or using crypto cards anywhere.

[fasdorcas]

Hello,
I'm here to explore the demand for crypto debit card.

The basics behind it is actually very simple:
1. You own some crypto funds on your account on an exchange (crypto/FIAT markets) that has partnered with a debit card provider. You'd have to identify yourself (pass KYC).
2. You get the card. It is a basic mastercard  debit card for FIAT payments. No magic.
3. When you use it, it automatically exchanges your crypto to FIAT based on the amount you're spending. You would even be able prioritize the order in which your crypto is to be exchanged the first, the second, etc.

So, would you use one? 
If yes, would such service motivate you enough to open an account on the exchange that is not (yet) one of the TOP ones?

Disclaimer: I'm a business owner in a position to offer such service. Knowing your opinion would help me a lot. So, thanks in advance!

I have a debit card that I can load with crypto anytime I want and use and it is not a really good one I am afraid. I am using coinsbanks card and they required too many things from me to be able to use it and even though I gave away too much information that I wasn't really thrilled about they are still charging a lot of money for me to spend it as well.

If I want to withdraw cash, I am paying them a lot of money and they have the information on who withdrew the amount, if I want to spend money they charge me a lot and have information who bought what with it. Basically a way to charge me for giving them all the info they can dream of. It is not a great system and I would prefer not to do it this way. Maybe less charges and less information would have been better.

[South Park]

Hello,
I'm here to explore the demand for crypto debit card.

The basics behind it is actually very simple:
1. You own some crypto funds on your account on an exchange (crypto/FIAT markets) that has partnered with a debit card provider. You'd have to identify yourself (pass KYC).
2. You get the card. It is a basic mastercard  debit card for FIAT payments. No magic.
3. When you use it, it automatically exchanges your crypto to FIAT based on the amount you're spending. You would even be able prioritize the order in which your crypto is to be exchanged the first, the second, etc.

So, would you use one? 
If yes, would such service motivate you enough to open an account on the exchange that is not (yet) one of the TOP ones?

Disclaimer: I'm a business owner in a position to offer such service. Knowing your opinion would help me a lot. So, thanks in advance!

There will probably demand for such service but I am not one of those that will use it because I am not really in any hurry to use my bitcoin to buy stuff, I am going to wait until bitcoin becomes adopted in my country and I know that process will take a long time since I have yet to see a person or a business that uses bitcoin for anything but I have no problems waiting a long time.

[sarfield]

It seems difficult also if there is a crypto debit for payments with fiat the problem is that only a small number of companies are able to have cryptosystems, many of which are payments with fiat. Maybe if all can receive crypto automatically the crypto debit card can be used for fiat payments.
And if that happens I will also use a crypto debit card.

[Pab]

I  prefer to have wallet with both fiat and crypto and easyy exchange between currencies
I am afraid that kind of cards use will be expensive
But i have been reading that Samsung will release phone with wallet app what wll support crypto
I don't know details but i imagine that phone will work like that kind of cards

[Bobby park]

Hello,
I'm here to explore the demand for crypto debit card.

The basics behind it is actually very simple:
1. You own some crypto funds on your account on an exchange (crypto/FIAT markets) that has partnered with a debit card provider. You'd have to identify yourself (pass KYC).
2. You get the card. It is a basic mastercard  debit card for FIAT payments. No magic.
3. When you use it, it automatically exchanges your crypto to FIAT based on the amount you're spending. You would even be able prioritize the order in which your crypto is to be exchanged the first, the second, etc.

So, would you use one? 
If yes, would such service motivate you enough to open an account on the exchange that is not (yet) one of the TOP ones?

Disclaimer: I'm a business owner in a position to offer such service. Knowing your opinion would help me a lot. So, thanks in advance!

Crypto card for me is not a good type of investment project nor to be bought. A lot of cryptorrency card project that I already joined but I failed to gain profits with their ICO. Most of it are scam or a failed project. So, I already doubt regarding to a debit card transforming into crypto debit card. I want to use only digital wallet because I already proof that it is a good way to transact cryptocurrency.

[el kaka22]

Hello,
I'm here to explore the demand for crypto debit card.

But, I guess revolutions moved past the debit card issue as well, we now have ability to pay with our mobile phones.
Even on the verges of civilization people have smart phones that can download apps and can be used to pay for something.

You can use your phone app to withdraw cash from atm, you can use it to pay for taxi cab, you can use it to buy groceries, you can buy on cafe. Basically apps are now the new debit cards, credit card is still an issue but at least for debit now there are apps for it.

Hence, if any company wants to create a crypto debit card they are following the trends a bit behind and instead they should be focusing on getting an app made that will allow us to use our phones to pay with crypto while the receiver will take it as fiat instead of crypto, basically be a middleman.

[boty]

This crypto and fiat can join and become one payment but you have to know that it requires a lot of development and it is very difficult because not everyone knows about cryptocurerncy.

[artbart]

To those who demand for a 100% crypto card and payments - tmm, this is still the distant future. It will come, but not tomorrow. If your income is not mostly based on crypto, good, you can wait. But there are a few (not a majority), that earn from crypto or simply want to spend it now. Now... So, crypto debit card (which is actually a FIAT card) enables you to freely spend your crypto as FIAT. It is convenient and shortens "the sell crypto for fiat -> withdraw fiat to your fiat bank -> use_it" to just hassle-free "use_it" part.

We believe you may be interested is such solution now, if:
a) your bank does not accept FIAT withdrawals from your exchange.
b) you need a convenient hassle-free way to simply buy stuff in the FIAT world.
c) you have no clue about the crypto "thing", but you happen to own some (eg: check Lympo project).
d) you want to evade taxes. We do not encourage that, but such use case exists.

For those who want anonymity - forget the fiat then. Or sell your crypto in cash face-to-face. KYC/AML are the things to be more and more strict in the close future. Just.

 

[hatshepsut93]

When I use my bank account, I have at least some level of government protection and reassurance that my bank won't vanish overnight, although I still try not to have more money there than I can afford to lose. But it's worse with these crypto debit cards, because crypto companies exit scam way more often than traditional payment companies and banks. So why should I use them if my current card works well enough?

[Renaldi blackspadeteam]

frankly, I'm not interested in making crypto debit cards because they have to be KYC, that's troublesome, because I haven't created my identity document. but if I already have documents, maybe I will make it.

if to open an exchange that has not yet entered from TOP, maybe I will be vigilant because there are many scam exchanges.

[UchihaRukawa]

Hello,
I'm here to explore the demand for crypto debit card.

The basics behind it is actually very simple:
1. You own some crypto funds on your account on an exchange (crypto/FIAT markets) that has partnered with a debit card provider. You'd have to identify yourself (pass KYC).
2. You get the card. It is a basic mastercard  debit card for FIAT payments. No magic.
3. When you use it, it automatically exchanges your crypto to FIAT based on the amount you're spending. You would even be able prioritize the order in which your crypto is to be exchanged the first, the second, etc.

So, would you use one? 
If yes, would such service motivate you enough to open an account on the exchange that is not (yet) one of the TOP ones?

Disclaimer: I'm a business owner in a position to offer such service. Knowing your opinion would help me a lot. So, thanks in advance!

In my opinion, this could be nice in a way, it automatically turn your fiat to cryptocurrency, no need to go to a trading site or app to convert your fiat to cryptocurrency. one good thing that bothers me is the fact that cryptocurrencies are highly volatile, which means that if I borrowed an amount of coin and the market went down, then I would have to pay it in a much higher price, but it is a good thing if the market goes green though.

[nasipadang]

actually the concept is good and I'm sure there are many people who think about this concept, back again to the shortcomings where the crypto value is fluctuating and later certainly many people will complain about this especially the market does not support this concept.

[deppil]

I  prefer to have wallet with both fiat and crypto and easyy exchange between currencies
I am afraid that kind of cards use will be expensive
But i have been reading that Samsung will release phone with wallet app what wll support crypto
I don't know details but i imagine that phone will work like that kind of cards

There are thousands and even countless existing payment methods. there are many vendors making new wallets for payment methods. the point is feud and rivalry in payment methods not only crypto debit cards and fiat debit cards but there are still many others ?

[CarnagexD]

It makes no sense to me to use a crypto related debit card to spend fiat the same way I can spend fiat already with my legacy debit card. I rather convert the coins to fiat myself and then spend them whenever I want.

Yup, I've been saying the same thing ever since I discovered bitcoin, which I've always viewed as an investment and not a currency (even though I've used it to buy things from merchants when I'm out of fiat). 

On the old JREF forum, they used to say that bitcoin is a solution in search of a problem that doesn't exist.  I don't view it in such an extreme way, but the fact is that businesses don't want bitcoin, they want fiat.  When you buy something with bitcoin using a payment processor, they're just converting the bitcoin to fiat--and that's what the merchant gets.

I get my paycheck in fiat and tend to always have more fiat than I do crypto, so I would have no use for a crypto debit card, nor would I want to go through a KYC process with a company that I didn't trust.  I already let my bank do that, and that's bad enough.

 That's good project but it is not yet available globally. Often time people hold on to their token or price coin instead of using it for simple transaction. Availability of your supposed project would be a main problem for all crypto holder. Good luck on your project.