Visa Launches An Exclusive “No Limit” Bitcoin Card

[stompix]

That seems more like a scam. IT looks like to have some token/shitcoin behind it. I wouldn't believe that. Very suspicious as the company seems to be Canadian, if I'm not mistaken, Gotta watch out peeps!

Yeah, scam sensor is going though the roof with this one

So, it's not VISA who is doing this, it's a company :
https://www.prnewswire.com/news-releases/the-worlds-most-exclusive-no-limit-global-crypto-visa-black-card-bitcoinblack-officially-launches-in-uae-301580074.html

This is how their website looked before:
https://web.archive.org/web/20220407062046/https://www.bitcoinblackcreditcard.com/

Our BitcoinBlack Visa® Card holders get access to our 6 exclusive yearly private events.
Our Visa® Card holders get exclusive access to the luxurious BitcoinBlack Mansion in Turks and Caicos.
BitcoinBlack is also in the process of building out their own exclusive Bitcoin Boeing BBJ to launch in early 2023.

Back in 2021 there were claiming only 1000 cards and:

Call our 24 hour concierge to get priority access with our exclusive restaurant partners, private jet carriers, yacht charters, 5* hotels, private events and more.

No number, no company info, no address, no info on who is behind them , no nothing

Oh, and of course, there is a token sale..
https://www.spendtoken.com/

[1715457307]

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[ChrisPop]

“Individuals must basically stack their crypto through the soon-coming bitcoinblack secure wallet app or web app, and are instantly committed to spending their crypto with the best conversion rates and high breakpoints.”

Even if a card is emitted in partnership with VISA, that is no reason to automatically define it as legit and safe. Also it remains to be seen what "best conversion rates" actually mean. Visa is not that good when it comes exchange rates. For example even at fx rates you need to pay something like 3.5%.

[Bambozled]

This is really sceptical for me. I don’t think this is real. Better to stay away from such scams.

[NotATether]

as well as remunerations of up to 10% return in elite tokens

Has anyone heard of this token before?

Tokens are useless garbage as we all know, why should VISA give themselves an unnecessary legal headache in implementing them with SEC compliance, when they could've just used the tried-and-tested points system instead?

[CryptoHeadlineNews]

This morning I read this article https://markettimes.co.uk/cryptocurrencies/visa-launches-an-exclusive-no-limit-bitcoin-card/ what are your opinions about it?

Making an exclusive card to be available to only 10,000 persons worldwide, i think it's not fair at all, because looking at the crypto community worldwide, there are more 1million crypto enthusiast who will also love to have this No limit card access to Bitcoin, because as the day goes by so is the community increasing in numbers. so for me, i see this as a medium VISA is trying to expand the coast of its business to crypto wealthy men and women who wishes to easily purchase items with bitcoin through the use of its no limit exclusive card called ''Bitcoinblack''... because here is a statement by it's CEO below

Thus, this elite card allows its owners to spend compensation on different extravagance things in the bitcoinblack Haute Living Luxury Market, “an organized web-based store that incorporates extravagance watches, wallets, vehicles, sanction fly arrangements, confidential access to the house from there, the sky is the limit”, and as it would be considered normal to be sent soon.

Commenting on this turn of events, bitcoinblack CEO Prakash Chand made sense:

“Individuals with a fantastic wealth in crypto required a method to effectively spend their crypto and be compensated for it. (…) bitcoinblack is impeccable for people with high purchasing power who need to use their crypto for their businesses or to enjoy themselves anywhere on the planet, including the more than 140 nations in which Visa is recognized.”

   

[Rikafip]

Making an exclusive card to be available to only 10,000 persons worldwide, i think it's not fair at all, because looking at the crypto community worldwide, there are more 1million crypto enthusiast who will also love to have this No limit card access to Bitcoin, because as the day goes by so is the community increasing in numbers.

If you bothered to read the article you would notice that his "no limit" card will be available only to those super rich people and not to average Joe. After all, for an average user standard crypto debit cards are more than enough, or you think that there are millions of crypto users that can afford spending tends of thousands of dollars worth of crypto on the daily basis so they need this special card?

As for limiting to only 10k users, its nothing but a marketing technique in order to attract people.

[Afterclap]

Digital currencies are now spreading all over the world. Developed countries are finding ways to incorporate them into their national economical system. This news is also a part of this revolution.

[nullama]

If you bothered to read the article you would notice that his "no limit" card will be available only to those super rich people and not to average Joe. After all, for an average user standard crypto debit cards are more than enough, or you think that there are millions of crypto users that can afford spending tends of thousands of dollars worth of crypto on the daily basis so they need this special card?

As for limiting to only 10k users, its nothing but a marketing technique in order to attract people.

Yeah, absolutely right.

But I'm not sure how they will manage to know who to contact.

I mean, they say ten thousand people, but how they even know who is the owner of Bitcoin? Isn't it supposed to be a private matter?

And if this is invitation only, how can they know? I can understand if it's an application started from the person itself, but invitation? How can they know?

[Rikafip]

And if this is invitation only, how can they know? I can understand if it's an application started from the person itself, but invitation? How can they know?

From what I can see on their website (https://www.bitcoinblackcreditcard.com/) people can request the access to bitcoinblack card so its not like they will randomly send invites around. The big difference compared to some other cards like Binance Visa is that not everyone will get accepted, meaning you will have to prove that you are wealthy enough + some other factors (they didn't disclose that).

[dragonvslinux]

This morning I read this article https://markettimes.co.uk/cryptocurrencies/visa-launches-an-exclusive-no-limit-bitcoin-card/ what are your opinions about it?

Useless.

You can always sell a portion of your BTC to buy whatever in fiat.

Of course this card provides no technical benefits to other Visa-based cards, but to me that's never been the benefit of having these cards. In many European countries BTC purchases via these cards leads to 0% tax (as it's for a purchase), as opposed to simply selling to fiat and buying what you want. So clearly there is an enormous tax-based benefit in being able to purchase something with 0% tax as opposed to up to 40%. If you are based in the US, then probably these cards are indeed useless, but to others it could save a tonne of money if used wisely, even if the benefit for Bitcoin is effectively 0.

And also the fact that this is just an invitation only thing makes the whole thing a bit suspicious. I mean how are they going to know who to invite in the first place?

This is quite common to be honest, it's similar to Coinbase and others. In order to avoid being inundated with potential customers. Not that suspicious in reality.

Seems like some country wants their taxes paid.

Just sounds like Visa wanted a % of the profits from Visa-based cards, because they have been missing out until now.

[Rikafip]

Of course this card provides no technical benefits to other Visa-based cards, but to me that's never been the benefit of having these cards.

The main benefit is that you can spend your crypto in an easy way. Another big advantage is that majority of them have cashback program so if you use your card regularly, it adds up.

In many European countries BTC purchases via these cards leads to 0% tax (as it's for a purchase), as opposed to simply selling to fiat and buying what you want. So clearly there is an enormous tax-based benefit in being able to purchase something with 0% tax as opposed to up to 40%.

That is maybe for now, but all this will eventually change (my guess is very soon, within year or two) and Binance will start sending reports to tax offices across Europe countries and then we will have to pay the taxes. Theoretically, we should already report all our crypto debit card spending, but I don't know anyone that is doing that.

[stompix]

So the press release has been deleted from PRNewswire
https://www.prnewswire.com/news-releases/the-worlds-most-exclusive-no-limit-global-crypto-visa-black-card-bitcoinblack-officially-launches-in-uae-301580074.html

The previous webpage has been modified and only left the request invitation now:
https://web.archive.org/web/20220407062046/https://www.bitcoinblackcreditcard.com/

After posting twice or thrice a day, the Fb and other pages are dead silent:
https://www.facebook.com/btcblackcard
https://twitter.com/btc_blackcard

The token page is dead:
https://www.spendtoken.com/


It looked like a scam, it sounded like a scam, guess what it turned out to be?